Gencell Ltd.

Business and Financial Review • Sep 12, 2022

This is an English translation of a Hebrew immediate report that was published on September 12, 2022 (reference no.: 2022-01-116134) (hereafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

12 September, 2022

To To Israel Securities Authority Tel Aviv Stock Exchange www.isa.gov.il www.tase.co.il

Re: Immediate report

¹ In continuation from the immediate reports published by the Company1regarding the Company's entry into a strategic cooperation framework agreement with Deutsche Telekom AG ("DT"), that sets forth the plan for integrating the Company's hydrogen fuel cell systems into part of DT's communications network (the "Cooperation Agreement"), and following the completion of the first phase of the Cooperation Agreement, the Company is honored to announce that the Company has also successfully completed the second phase of the Cooperation Agreement. In this phase the companies carried out a field test of the GenCell FOX™ off-grid power solution based on the Company's ammonia-to-power alkaline fuel cell system ("FOX").

The FOX was tested in four cycles of rated load from 2KW to 4.5 KW running continuously and performed as required per the Cooperation Agreement. This successful field test of the FOX, which was conducted in Israel to demonstrate system versatility under different test conditions, further validates the value proposition offered by the Company's zero-emission fuel cell solutions for carbon-neutral powering of DT's communications off-grid sites, meaning sites that are not connected to an electricity network.

In accordance with the Cooperation Agreement, t the FOX will become an approved product for purchase by any of the DT Group companies around the world.

¹ The immediate reports were published on 4 July, 2021 and 10 November, 2021 (References No.: 2021-01- 047335 and 2021-01-095881, respectively) the abovementioned is hereby incorporated by references .

In the Company's view, the completion of the first and second phases of the Cooperation Agreement, constitutes a seal of approval for the technology and products developed by the Company, and especially for the FOX product, and increases the potential for global sales of the Company's products to the DT group. Furthermore, the Company estimates that this success ² alongside the completion of the field test with Vodafone Telekom , should position the Company as a provider of hydrogen-to-power and ammonia-to-power solutions to the telecom market and enable expansion of the Company's business activities in the telecom market, all in ³ accordance with the Company's goals and strategy as detailed in the annual report .

Please note that the above information and forecasts regarding the possibility that the Cooperation Agreement is expected to advance the Company in its commercial activities constitute forward-looking information within the meaning of the term in the Securities Law 1968. These assessments may not be realized in whole or in part or may be realized differently than estimated. The Company's assessments are based on the information currently in the hands of the Company regarding its activities, including activities which are not in the Company's control.

Sincerely,

Gencell Ltd.

Signed by:

Yossi Salomon, CFO

2 The immediate report was published on 29 August, 2022 (Reference No.: 2022-01-109456) the abovementioned is hereby incorporated by reference. 3

The annual report of the was published on 30 March 2022 (reference no: 2022-01-032313) the abovementioned is hereby incorporated by reference.