Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 303

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 303
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D”), Malaysian
Ringgit (“MYR”), Chinese Yuan (“RMB”), and Brazil Real (“BRL”) as their respective functional currencies.

In
general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into
US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet
date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation
of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive loss within the
statements of change in shareholders’ equity. Cash flows are also translated at average translation rates for the periods. Therefore,
amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated
balance sheets. Exchange rate presented below were quoted by the federal reserve of the United States.

<div align='center'>F-63

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Translation
of foreign currencies into US$ 1 have been made at the following exchange rates for the respective periods:

|                                        |     | As of and for the Six Months 
          ended September 30, |        |     |      |        |     |     As of 
 March 31, |        |
|                                        |     |                         2024 |        |     | 2023 |        |     |      2024 |        |
| Period-end SGD: US$1 exchange rate     |     |                              | 1.2831 |     |      |      - |     |           | 1.3475 |
| Period-end HKD: US$1 exchange rate     |     |                              | 7.7693 |     |      |      - |     |           | 7.8259 |
| Period-end MYR: US$1 exchange rate     |     |                              | 4.1210 |     |      |      - |     |           | 4.7225 |
| Period-end RMB: US$1 exchange rate     |     |                              | 7.0176 |     |      |      - |     |           |      - |
| Period-end BRL: US$1 exchange rate     |     |                              | 5.4509 |     |      |      - |     |