Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 85

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 85
---
 discretionary
spending items.

Video game piracy is when
an individual, group, or business copies and/or distributes video game software without the authorization of the intellectual property
owner of the video game. By making unauthorized copies of the games or allowing players to download games for free or at a reduced price,
scammers are taking profit from game developers, publishers and studios. Game piracy is a global issue in the gaming industry. Based
on a survey published by QATestLab on November 16, 2022, around 1 in 10 gamers have illegally downloaded or played a pirated video game
over the past three months. Today, this presents a challenge to all game studios which are losing sizeable revenue to unauthorized
listings of their games online. Through our distribution network and long-standing relationships with our customers, we believe we can
offer a unique value proposition to the international game studios in combating the issue of game piracy through take-down and conversion
of unauthorized sales listings. We believe that there is a large market demand for this service and we plan to leverage our network and
technology to help game studios and publishers recoup some of the revenues lost to piracy.

We believe that the overall
entertainment industry is converging towards transmedia, a trend in which game companies bring their game IP to film, television, and
other media to expand the reach of their franchise and bring consumers back to their core game franchise. By growing our business into
game publishing, game creation and game IP investment, we believe we are well-positioned to move up the value chain in the game creation
process to build our game IP and potentially monetize game IP through transmedia.

| 2 | https://advanced-television.com/2022/10/11/survey-video-game-piracy-set-to-rise/ |

<div align='center'>47</div>

GCL Group

Through two intermediary
holding companies, namely (i) GCL Global Pte. Ltd., a Singaporean company formed in July 2021 (“GCL Global SG”),
and (ii) Grand Centrex Limited, a British Virgin Islands business company formed in November 2018 (“GCL BVI”),
GCL Global holds the following operating subsidiaries:

| ● | Ban                                                                                                                                  
 Leong Technologies Limited (“Ban Leong” or “BLT”) — formed in June 1993 in Singapore                                                 
 primarily engaged in the wholesale and distribution of computer peripherals, accessories and other multimedia products in Singapore, 
 Malaysia and Thailand.