Gencell Ltd.

Business and Financial Review • Sep 14, 2022

This is an English translation of a Hebrew immediate report that was published on September 14, 2022 (reference no.: 2022-01-117157) (hereafter: the "Hebrew Version"). This English version has been translated only for the purpose of convenience. It is not an official translation and has no binding force. While reasonable care and skill have been exercised in the preparation hereof, no translation can ever exactly mirror the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

September 14, 2022

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

Re: Immediate Report

Further to the description in section 12.4 of chapter A in the Company's Periodic Report for ¹ the year 2021 (the "Periodic Report") regarding the Company's intention to adapt its products so as to enter the field of EV charging wherever EV charging is in demand yet the electricity infrastructure is insufficient or non-existent, and in recognition of the ever-increasing demand for autonomous, hybrid charging stations, the Company is hereby honored to announce the launch of the EVOX™ system, an autonomous, hybrid product with the capacity to generate electricity that is entirely independent of the grid and alternative energy sources and which produces no pollutant emissions.

The development of the EVOX™ is based on the Company's proven hydrogen fuel cell technology, the GenCell BOX™. The EVOX™ incorporates the Company's fuel cell power generation capacity (fueled by hydrogen) and electricity from the grid (if grid connectivity is available) together with lithium battery energy storage, including integration and management of all these energy sources by means of unique software developed by the Company. The EVOX™ solution ensures 24/7 availability of power for EV charging that has no dependence on the availability of solar, wind or grid power. The EVOX™ system can satisfy the everincreasing demand for EV charging stations autonomously and anywhere the grid is

¹ The Periodic Report was published on 30 March 2022 (reference no: 2022-01-032313) the abovementioned is hereby incorporated by reference.

insufficient or non-existent, thus enabling the expansion of charging capacity to serve the growing quantity of electric vehicles.

In the Company's view, the launch of the EVOX, together with the E.V. Motors Cooperation ² Agreement , may significantly contribute to the Company's efforts to position itself as a provider in the global EV charging market and may help to expand the Company's business activities with new clients in this market, all of which is in accordance with the Company's goals and strategy as detailed in the Company's Periodic Report.

Please note that the above information in this Immediate Report including any forecasts regarding its commercial activities in the EV sector and the solutions made possible by the EVOX™ system, should be considered as forward-looking information within the meaning of the Securities Law 1968, and the regulations thereunder. These expectations and assessments may not materialize in whole or in part, or may materialize in a materially different manner than expected by the Company. The Company's expectations and forecasts are based on the information that is currently in the hands of the Company regarding these activities and which is not in the Company's control.

Sincerely,

GenCell Ltd.

Signed by:

Yossi Salomon, CFO

² Company's Immediate Reports published on 15 November, 2021 and 2 June, 2022 (Reference Nos.: 2021-01- 097258 and 2022-01-069163 respectively). The above-mentioned are hereby incorporated by references.