Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 68

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 68
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IC for
our current taxable year or any subsequent taxable year. We urge U.S. Holders to consult their own tax advisors regarding the possible
application of the PFIC rules in light of their individual circumstances.

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Changes to, or changes in interpretations of, tax laws could have a material adverse effect on our business, financial condition and results of operations.

We
are subject to income taxes and non-income taxes in the United States and other countries in which we transact or conduct business,
and such laws and rates vary by jurisdiction. Tax laws and regulations, including at non-U.S. and U.S. federal and local jurisdictions,
frequently change, especially in relation to the interpretation of existing tax laws for new and emerging industries, and we cannot always
reasonably predict the impact from, or the ultimate cost of compliance with, current or future tax laws.

Any
changes in the taxation of our business activities may increase our worldwide effective tax rate and harm our business, financial condition
and results of operations. Our tax expense could also be impacted by the applicability of withholding taxes and the impact of changes
in the evaluation of tax positions we have taken in prior tax periods. The amount of taxes we pay in these jurisdictions could increase
substantially as a result of changes in the applicable tax principles, including increased tax rates, new tax laws or revised interpretations
of existing tax laws and precedents, which could harm our liquidity and results of operations.

All
statements contained herein concerning U.S. federal income or other tax consequences are based on existing law and interpretations
thereof. The tax regimes to which we are subject or under which we operate, including income and non-income taxes, are unsettled
and may be subject to significant change. While some of these changes could be beneficial, others could negatively affect our after-tax returns.
Accordingly, no assurance can be given that the currently anticipated tax treatment will not be modified by legislative, judicial or administrative
changes, possibly with retroactive effect. In addition, no assurance can be given that any tax authority or court will agree with any
particular interpretation of the relevant laws.

We may be unable to maintain the listing of our securities in the future.

If we fail to meet the continued
listing requirements and Nasdaq delists the Ordinary Shares, we could face significant material adverse consequences, including:

| ● | a limited availability of market quotations for the Ordinary Shares; |

| ● | a limited amount of news and analyst coverage for us;