Gencell Ltd.

Regulatory Filings • Aug 27, 2024

Adoption of an efficiency plan to reduce the company's expenses and strengthen the company's cash flow. false

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GENCELL LTD
Corporation no: 514579887	13072
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	27/08/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-094318	Time of broadcast: 09:53 09:53

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English language report to Israeli corporateThis form is for reports that has been translated to English (convenience translation) and should be published alongside with the report in Hebrew in accordance with the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970.

References of previous reports relating to this matter:   _________   _________   _________

As part of the implementation of the Company's strategic plan and its desire to expand its business and advance its business objectives, the Company is working in parallel to improve its cash flow situation and financial strength, the Company is hereby honored to announce that on August 26, 2024, the Company's Board of Directors adopted an additional efficiency plan to reduce the Company's expenses and strengthen the Company's cash flow (within the framework of which, in addition to the steps taken by the Company so far), which includes, among other things: a further reduction of the company's workforce, a reduction of administrative and general expenses, a reduction of R&D expenses, increasing the use of outsourcing services and a further reduction of monthly rent during the 2025. The Company estimates that the completion of these measures is expected to lead to savings of approximately 5 million Dollars per year (excluding workforce recruitment for operations in the US), which the Company estimates will help it reduce its current expenses and strengthen its cash flow, thereby enabling it to cope optimally with existing and expected challenges. It should be emphasized that the Company's assessments regarding the implications of the aforementioned streamlining program, reducing the Company's expenses, strengthening the Company's cash flow, constitute forward-looking information, as defined in the Securities Law, 5728-1968, based, inter alia, on the Company's assessments as of the date of publication of this immediate report with respect to factors beyond its control. The Company's assessments are based on information currently in the Company's possession, on publications and forecasts, and on the guidelines of the relevant authorities, which there is no certainty that they will be realized, in whole or in part, and which may be materialized in a materially different manner, due to factors beyond the Company's control.

Attached hereto is a report on	Adoption of an efficiency plan to reduce the company's expenses and strengthen the company's cash flow.

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	Reference to parallel Hebrew report:	2024-01-094312
	This report was not reported in Hebrew.

Details of the authorized signatories to sign on behalf of the corporation:

	Name of the signer	Corporate Role
1	Yossi Salomon	CFO _________

Note: According to Rule 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these Regulations will be signed by the authorized persons to sign on behalf of the corporation. For the ISA staff notice Click here .2 2

References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
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Stock Exchange/Market: �'���	Date of revision of form structure: 06/08/2024
Address: ������ 7 , ��� ����� 4951025   , Tel: 03-7261616 , Fax: 03-7261617
E-mail address: info@gencellenergy.com   Company site: www.gencellenergy.com
Previous names of reporting entity:
Name of the Signatory: ����� ���� Position of Signatory in the reporting corporation: Name of Employer Company:
Address: ������ 7 , ��� ����� 4951025 Telephone: 03-7261616 Facsimile: 03-7261617 E-mail: yossis@gencellenergy.com 1