Gencell Ltd.

Regulatory Filings • Aug 17, 2021

This is an English translation of a Hebrew immediate report that was published on August 17, 2021 (reference no.: 2021-01-066232) (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.

August 17, 2021

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

Re: Immediate report

Further to the Company's Immediate reports dated December 20, 2020, May 10, 2021 and May 11, 2021, regarding the winning of a tender conducted by the Federal Electric Company of Mexico ("CFE") for the supply and installation of 37 GenCell G5rx Utility Backup Power systems which have been designed to work in utility substations (the "Systems") and stating that the Company has complied with the timetables and successfully completed the testing and delivery of the Systems (Ref No. 2020-01-137091, 2021-01-081384 and 2021-01- 082731) (the abovementioned is hereby incorporated by references), the Company is hereby announcing that on August 16, 2021, the Company was informed by the local third party that the CFE has accomplished the exercise of its right to double the quantity of Systems that will be supplied by the Company to 74 in total (an additional order of 37 Systems), under the same terms and conditions of the Tender, i.e. within 120 days from the date of notice.

The expected consideration to the Company for the supply of the additional Systems and services is approximately US\$ 3.5 million that will be recognized through the project execution. As stated in the Company's Immediate report dated May 11, 2021, the services of System installation and maintenance shall be provided by a local third party who shall receive the consideration for such services from CFE.

Please note that the above information in this Immediate Report, with respect to CFE's exercising its right to add Systems is forward-looking information within the meaning of the Securities Law, 1968, for which there is no certainty that this will take place at all or might take place in a materially different way from what is stated above. Difficulties in production

processes due to delays in delivery times of raw materials that may occur especially, but not only, due to the effect of COVID 19 on international shipments and on the economy around the globe may cause delays in delivery times. Any forward-looking information contained in this Immediate Report is based on the Company's current expectations and assessments as well as on existing information in its possession. Although the Company believes that the assumptions upon which any forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect.

Sincerely,

Gencell Ltd.

Signed by:

Yossi Salomon, CFO