Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 178

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 178
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 and Joshua Kewei Cui. Neither Mr. Choo nor Ms. Choo qualifies as an independent
director. We rely on the “controlled company” exemption of the Nasdaq rules relating to compensation committee composition.

The compensation committee’s
responsibilities include, among other things:

| ● | reviewing and approving corporate goals and objectives relevant to the compensation of our Chief                                 
 Executive Officers, evaluating the performance of our Chief Executive Officer in light of these goals and objectives and setting 
 or making recommendations to the Board regarding the compensation of our Chief Executive Officer;                                |

| ● | reviewing and setting or making recommendations to our board of directors regarding the compensation 
 of our other executive officers;                                                                     |

| ● | making recommendations to our board of directors regarding the compensation of our directors; |

| ● | reviewing and approving or making recommendations to our board of directors regarding our incentive compensation and equity-based 
 plans and arrangements; and                                                                                                       |

| ● | appointing and overseeing any compensation consultants. |

Our board of directors has
adopted a written charter for the compensation committee which is available on our website at https://www.gclglobalholdings.com/.

Code of Ethics

We have a code of ethics
that applies to all of its executive officers, directors and employees, including its principal executive officer, principal financial
officer, principal accounting officer or controller or persons performing similar functions. The code of ethics is available on our website
at https://www.gclglobalholdings.com/. We intend to make any legally required disclosures regarding amendments to, or waivers of, provisions
of its code of ethics on our website rather than by filing a Current Report on Form 6-K.

<div align='center'>101

CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</div>

Related Party Transactions

For more information about
related party transactions involving Mr. Jacky Choo See Wee, see “Management — Directors and Executive Officers — Compensation.”

Lock-up Agreements

In connection with the Business
Combination, certain holders of the Company have agreed not to (i) sell, offer to sell, contract or agree to sell, assign, lend, offer,
encumber, donate, hypothecate, pledge, grant any option, right or warrant to purchase or otherwise transfer, dispose of or agree to transfer
or dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Exchange Act, and the rules