Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 53

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 53
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 of the Cayman Islands may render you unable to enforce a judgment against GCL’s assets or the assets of GCL’s directors
and officers.

Shareholders of Cayman Islands
exempted companies like GCL have no general rights under Cayman Islands law to inspect corporate records or to obtain copies of lists
of shareholders of these companies. GCL’s directors have discretion under GCL’s Amended and Restated Memorandum and Articles
of Association to determine whether or not, and under what conditions, its corporate records may be inspected by its shareholders, but
are not obliged to make them available to its shareholders. This may make it more difficult for you to obtain the information needed
to establish any facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest.

As a result of all of the
above, GCL’s public shareholders may have more difficulty in protecting their interests in the face of actions taken by GCL’s
management, members of the board of directors or controlling shareholders than they would as public shareholders of a company incorporated
in the United States.

Cayman Islands companies
may not have standing to initiate a derivative action in a federal court of the United States. As a result, your ability to protect your
interests if you are harmed in a manner that would otherwise enable you to sue in a United States federal court may be limited to direct
shareholder lawsuits.

As a “controlled company” under the Nasdaq rules, GCL may choose to exempt itself from certain corporate governance requirements that could have an adverse effect on our public shareholders.

Mr. Jacky Choo See Wee,
our Group Chairman, holds a majority of the voting power of GCL. Accordingly, GCL is a “controlled company” within the meaning
of Nasdaq Listing Rule 5615. GCL therefore, is eligible to utilize certain exemptions from the corporate governance requirements of the
Nasdaq Stock Market. GCL’s status as a controlled company could cause its securities to look less attractive to certain investors
or otherwise harm the trading price.

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As a controlled company,
GCL is qualified for, and our board of directors, the composition of which may be controlled by Mr. Choo, may rely upon, exemptions from
several of Nasdaq’s corporate governance requirements, including requirements that:

| ● | a majority of the board of directors consist of independent directors; |

| ● | compensation of officers, including that of the CEO