Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 255

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 255
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 would have been occurred had the business combination been consummated as of that time or that may result in the future:

|                                |     | 2024 |              For the 
 Year ended March 31, |   |     | 2023 |              For the 
 Year ended March 31, |
|:-------------------------------|:----|:-----|---------------------:|:--|:----|:-----|---------------------:|
| Unaudited pro forma revenue    |     | $    |           97,576,855 |   |     | $    |           77,724,857 |
| Unaudited pro forma net income |     | $    |           (1,957,135 | ) |     | $    |            2,089,212 |

The following tables summarizes the consideration
transferred to acquired Martiangear at the date of acquisition:

| Share issuance*                   |     | $ | 687,348 |
| Cash consideration                |     |   | 148,000 |
| Total consideration at fair value |     | $ | 835,348 |

The following table summarizes
the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date, which represents the net purchase
price allocation at the date of the acquisition of Martiangear:

|                                  |     | Fair value  
 as of       
 acquisition 
 date        |         |   |
| Total consideration              |     |             | 835,348 |   |
| Less: net assets of Martiangear: |     |             |         |   |
| Cash                             |     |             |   8,263 |   |
| Accounts receivable              |     |             |   4,808 |   |
| Inventory                        |     |             |  92,889 |   |
| Intangible asset                 |     |             |  85,675 |   |
| Total assets                     |     |             | 191,635 |   |
| Accounts payable                 |     |             | (17,457 | ) |
| Deferred tax liability           |     |             | (13,197 | ) |
| Total liabilities                |     |             | (30,654 | ) |
| Total net assets of Martiangear  |     |             | 160,981 |   |
| Goodwill                         |     | $           | 674,367 |   |

<div align='center'>F-31

GCL GLOBAL HOLDINGS LTD AND