Wilk Technologies Ltd.

Regulatory Filings • Dec 22, 2021

Wilk Technologies (formerly Biomilk Ltd.) ("The Company")

December 22, 2021

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

Dear Sirs and Madams,

Subject: Immediate report on progress made in the production of milk fat from human cell culture

Following the company's reports dated August 17, 2021 (reference number: 2021-01-133080) (notice of the start of a study in the field of cultured breast milk with the maternity department at Rabin Medical Center, and from October 4, 2021 (reference number: 2021-01-150693) (notice of the beginning of a study of the company in cooperation with Ichilov Hospital to promote the development of cultured breast milk) (collectively: "The studies" and "previousimmediate reports" accordingly, the company is honored to update on positive results obtained in the company's laboratories in which the ability of human breast-grown cultured cells to produce milk fat has been tested.

The studies examined several cell growth conditions that encourage the production and accumulation of triglyceride-type fat, which accounts for over 95% of breast milk fat. According to the company's assessment, the fat composition produced by these cells, corresponds to the composition found naturally in breast milk.

According to external sources, breast milk fat is one of the essential components in the baby's development and may affect the healthy development of their digestive system, immune system, and even affect cognitive development. As of the time of this report, most infant milk substitutes available in the market provide the fat component mainly from plant sources and its effect and efficacy are not the same as breast milk fat (the composition and location of the fatty acids in plantderived triglycerides are not as optimal for digestion as breast milk). The findings open up the possibility of extracting milk fat from cultured breast cells and incorporating it into infant milk

substitutes in order to improve their quality and effect and make them more similar to the gold standard, breast milk.

In addition, external sources attribute to milk fat a wide range of activities in the fields of wound healing, antibacterial and antifungal activity, as well as influencing the development of normal microbiome in the baby's gut. Considering the above, and due to the fact that milk fat is one of milk's main components, the development of cultured fat from human breast cells is a significant milestone in the development of cultured milk and as a consumer product in itself.

Continued development of cultured breast milk

In accordance with previous immediate reports, the company operates simultaneously in two significant paths to produce cultured breast milk both by producing cells from milk donations and by producing cells directly from breast tissue.

In these two channels, the company is working on establishing the culture of productive cells (milk secretors), increasing the amount of fat produced and characterizing it. In addition, the ability to produce milk fat in cell culture is an indication of the ability to express other milk components, such as proteins and oligosaccharides (HMO). Unlike methods for producing protein substitutes in yeast fermentation, the ability to produce milk fat in culture is unique to these cells.

The company anticipates that if the above takes place, namely establishing a cell culture with increased fat production capacity and glytering the process, there is an option to produce the fat (and/or other ingredients) that exist in breast milk, but are lacking in infant formulas, and add them to the same formulas. Adding such fat to baby formulas will improve the quality of the formulas currently available in the market.

The company anticipates that as the studies progress, they may be a significant breakthrough in the field of cultured breast milk fat production. Among the benefits of this technological development are:

A. A future option for the integration of breast milk fat into infant milk substitutes as well as a consumer product due to its varied effect on infant health and development.

b. The production method used by the company enables the production of milk fat, free of residues of pesticides, toxins and antibiotics that can be found in milk of farm animals.

C. Production of breast milk fat using the technology developed by the company may enable the production of commercial quantities of dairy fat components that are naturally found in milk in very small amounts.

D. The company estimates that breast milk fat developed by the company will serve as a raw material in the dairy substitute industry, baby and toddler food products, and even in other industries such as cosmetics and pharma industries.

In addition, as the studies are successfully completed, we would establish a cell culture with an increased production capacity of all dairy components and through the process, the company may produce cultured breast milk that will contain the existing ingredients almost exclusively only in breast milk.

The information detailed in this immediate report is "forward-looking" information as defined in the Securities Law, 1968, and the regulations thereunder, based on the information known to the Company at this time, as well as on assessments and forecasts whose realization depends, among other things, on factors beyond the company's control as stated in this report above. Including due to the likely results of the company's studies and assessments regarding the results of the studies to change and/or be delayed and/or not conducted at all, since the Company's studies are the first and precedent-setting and prepared to be based on a limited sample at this stage.

Respectfully, Tomer Aizen, CEO Wilk Technologies Ltd.

8/2/3036