A receptacle assembly includes a receptacle housing including panels defining a pluggable module cavity and providing EMI shielding for the module cavity. A gasket assembly is provided at the bottom of the receptacle housing. The gasket assembly has a bottom plate, a hinge plate rearward of the bottom plate and a rear plate extending from a rear of the hinge plate providing EMI shielding for the module cavity. The bottom plate provides EMI shielding at the bottom of the receptacle housing and the rear plate provides EMI shielding at a back end of the receptacle housing. The hinge plate is hingedly coupled between the bottom plate and the rear plate to change relative positions of the bottom plate and the rear plate during assembly to the circuit board.