Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 260

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 260
---
, the “”); and

WHEREAS, PubCo and the Holder
wish to clarify their commercial understanding by entering into this amendment to the Warrant (this “”);

NOW THEREFORE, in consideration
of the mutual agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

| 1. | AMENDMENTS TO WARRANT |

| 1.1 | The Warrant is hereby amended by adding the following new Section 1.3 as follows: |

“1.3 Notwithstanding
anything to the contrary in the Warrant, none of the terms of the Warrant shall have any legal effect on the Borrower and/or PubCo unless
and until the entire SGD 5,000,000 has been disbursed to the Borrower by the Holder under the Facility Agreement. For avoidance of doubt,
the Holder will have no claims for penalties, damages and legal remedies of any kind against either PubCo or the Borrower for non-performance
of any obligations under the Warrant until the entire SGD 5,000,000 has been disbursed under the Facility Agreement.”

| 1.2 | Section 2.3 of the Warrant is hereby amended as follows (with strike-through representing 
 deletions and double underline representing additions):                                   |

“. Subject to the conditions herein, this Warrant shall be capable of exercise only during the term commencing on the date on which the full amount of the SGD5,000,000 loan has been disbursed by the Holder to the Borrower pursuant to the Facility Agreementand ending on the fifth (5th) anniversary of the date of such disbursement(the “”), or such other exercise
period as agreed in writing by the parties; provided, that this Warrant shall no longer be exercisable and shall become null and
void if it is not exercised at all or in full prior to the expiration of the Exercise Period, and provided further, that this Warrant shall not be capable of exercise of any kind (including Voluntary Exercise under Section 3.1 and Automatic Exercise under Section 3.2) and will remain un-exercisable until the full amount of SGD5,000,000 is disbursed pursuant to the Facility Agreement.”

| 1.3 | Section 3.5 of the Warrant is hereby amended as follows (with double 
 underline representing additions):                                   |

“The “Exercise
Date” within the Exercise Period in respect of