Announcement • Mar 23
GCL Global Holdings Ltd Announces Receipt of Nasdaq Deficiency Notice Regarding Minimum Bid Price Requirement GCL Global Holdings Ltd. announced that it has received a written notice (the Notice), dated March 17, 2026, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq) indicating that, for the last thirty (30) consecutive business days (February 2, 2026 to March 16, 2026), the bid price for the Company's ordinary shares had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule 5450(a)(1) (the Minimum Bid Price Rule). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 14, 2026, to regain compliance (the Compliance Period). Pursuant to the Notice, if at any time during the Compliance Period the closing bid price of the Company's ordinary shares is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and such matter will be closed. If the Company fails to regain compliance with the Minimum Bid Price Rule during the Compliance Period, the Company may consider applying to transfer its securities from The Nasdaq Global Select Market to The Nasdaq Capital Market, provided that the Company meets the applicable market value of publicly held shares required for continued listing and all other applicable requirements for initial listing on The Nasdaq Capital Market (except for the bid price requirement). Such transfer would provide the Company with an additional 180 calendar days, or until March 15, 2027, to regain compliance. There can be no assurance that the Company would be eligible for the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company's request for continued listing. The Notice has no immediate effect on the listing or trading of the Company's ordinary shares. The Company intends to monitor the bid price of its ordinary shares and consider available options to regain compliance with the Minimum Bid Price Rule. New Risk • Mar 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (19% average weekly change). High level of non-cash earnings (31% accrual ratio). Minor Risk Market cap is less than US$100m (US$62.9m market cap). New Risk • Feb 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.2m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (31% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$98.2m market cap). 
