License
Gpg4win is Free Software and consist of several independently developed packages, available under different license conditions. Most of these packages however are available under the GNU General Public License (GNU GPL). Common to all is that they are free to use without restrictions, may be modified and that modifications may be distributed. If the source files are distributed along with the binaries and the use of the GNU GPL has been pointed out, distribution is in all cases possible.
Copyright Statements
Here is a list with collected copyright notices. For details see the description of each individual package. A current list is also available in the README of Gpg4win.
Gpg4win (the installer) is
  Copyright (C) 2005-2013 g10 Code GmbH
                2013-2018 Intevation GmbH
                2015-2018 Bundesamt für Sicherheit in der Informationstechnik
                          Software Engineering by Intevation GmbH
                2019      g10 Code GmbH
  Gpg4win is free software; you can redistribute it and/or modify it
  under the terms of the GNU General Public License as published by
  the Free Software Foundation; either version 2 of the License, or
  (at your option) any later version.
  Gpg4win is distributed in the hope that it will be useful, but
  WITHOUT ANY WARRANTY; without even the implied warranty of
  MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the GNU
  General Public License for more details.
  You should have received a copy of the GNU General Public License
  along with this program; if not, write to the Free Software
  Foundation, Inc., 51 Franklin Street, Fifth Floor, Boston, MA
  02110-1301, USA
GnuPG is
  Copyright 1998-2019 Free Software Foundation, Inc.
  GnuPG is free software; you can redistribute it and/or modify it
  under the terms of the GNU General Public License as published by
  the Free Software Foundation; either version 3 of the License, or
  (at your option) any later version.
  GnuPG is distributed in the hope that it will be useful, but WITHOUT
  ANY WARRANTY; without even the implied warranty of MERCHANTABILITY
  or FITNESS FOR A PARTICULAR PURPOSE.  See the GNU General Public
  License for more details.
  You should have received a copy of the GNU General Public License
  along with this program; if not, see 
  This program is free software; you can redistribute it and/or modify
  it under the terms of the GNU General Public License as published by
  the Free Software Foundation; either version 2 of the License, or
  (at your option) any later version.
  This program is distributed in the hope that it will be useful,
  but WITHOUT ANY WARRANTY; without even the implied warranty of
  MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
  GNU General Public License for more details.
  You should have received a copy of the GNU General Public License
  along with this program; if not, write to the Free Software
  Foundation, Inc., 51 Franklin Street, Fifth Floor, Boston,
  MA 02110-1301, USA.
  The included man page is
  Copyright (C) 2007 Peter Palfrader 
  Examples have been taken from David Shaw's README. The license is
  the same as for Paperkey.
Scute
  Copyright 2006, 2008 g10 Code GmbH
  Scute is licensed under the GNU General Pubic License, either
  version 2, or (at your option) any later version with this special
  exception:
  In addition, as a special exception, g10 Code GmbH gives permission
  to link this library: with the Mozilla Foundation's code for
  Mozilla (or with modified versions of it that use the same license
  as the "Mozilla" code), and distribute the linked executables.  You
  must obey the GNU General Public License in all respects for all of
  the code used other than "Mozilla".  If you modify the software, you
  may extend this exception to your version of the software, but you
  are not obligated to do so.  If you do not wish to do so, delete this
  exception statement from your version and from all source files.
KDE-Frameworks
  This library is free software; you can redistribute it and/or
  modify it under the terms of the GNU Lesser General Public
  License as published by the Free Software Foundation; either
  version 2.1 of the License, or (at your option) version 3, or any
  later version accepted by the membership of KDE e.V. (or its
  successor approved by the membership of KDE e.V.), which shall
  act as a proxy defined in Section 6 of version 3 of the license.
  This library is distributed in the hope that it will be useful,
  but WITHOUT ANY WARRANTY; without even the implied warranty of
  MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the GNU
  Lesser General Public License for more details.
  You should have received a copy of the GNU Lesser General Public
  License along with this library.  If not, see 
           2008, Nokia Corporation and/or its subsidiary(-ies)
           2001-2010, Klarälvdalens Datakonsult AB
           2015-2018, Intevation GmbH
           2015-2018, Bundesamt für Sicherheit in der Informationstechnik
                      Software Engineering by Intevation GmbH
                2019, g10 Code GmbH
  Kleopatra is free software; you can redistribute it and/or modify
  it under the terms of the GNU General Public License as published by
  the Free Software Foundation; either version 2 of the License, or
  (at your option) any later version.
  Kleopatra is distributed in the hope that it will be useful,
  but WITHOUT ANY WARRANTY; without even the implied warranty of
  MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the GNU
  General Public License for more details.
   
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