Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 268

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 268
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 on the Borrower and/or the Company
unless and until the entire SGD has been disbursed to the Borrower by OCBC under the Facility Agreement; and that OCBC will
have no claims for penalties, damages and legal remedies of any kind against either the Company or the Borrower for non-performance of
any obligations under the Warrant. The Amendment also provides that, among other things, until the full amount of SGD5,000,000 is disbursed
by OCBC to the Borrower pursuant to the Facility Agreement, (i) the Warrant shall not be capable of exercise of any kind, and shall remain
un-exercisable; and (ii) OCBC will have no rights to Piggyback Registration (as defined in the Warrant). Under the Amendment, the Company
will have six months from the date the full amount of SGD5,000,000 is disbursed to file a registration statement for the public resale
of all of the Warrant Shares (as defined in the Warrant). As of the date of issuance of the consolidated financial statements, no fund
has been disbursed under the Facility Agreement.

F-58 Company Registration No. 199303898C Ban Leong Technologies Limited Consolidated Financial Statements March 31, 2025 and 2024 F-59 BAN LEONG TECHNOLOGIES LIMITED INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

|                                                            | Pages |
| Report of Independent Auditors                             | F-61  |
| Consolidated Balance Sheets                                | F-63  |
| Consolidated Statements of Comprehensive Income            | F-64  |
| Consolidated Statements of Changes in Shareholders’ Equity | F-65  |
| Consolidated Statements of Cash Flows                      | F-66  |
| Notes to the Consolidated Financial Statements             | F-67  |

F-60 BAN LEONG TECHNOLOGIES LIMITED Report of Independent Auditors To the Shareholders and the Board of Directors of Ban Leong Technologies Limited Opinion We have audited the consolidated financial statements of Ban Leong Technologies Limited (the "Company"), which comprise the consolidated balance sheets as of March 31, 2025 and 2024, and the related consolidated statements of comprehensive income, changes in shareholders’ equity and cash flows for the years then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at March 31