Gencell Ltd. — Major Shareholding Notification 2021

May 11, 2021

This is an English translation of a Hebrew Immediate Report that was published on May 10, 2021 (reference no.: 2021-01-081384) (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.

10 May, 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 Report dated December 20, 2020, 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 adjusted to work in utility substations (the "Systems") (Ref No. 2020-01-137091) (the above-mentioned is hereby incorporated by reference), the Company is hereby honored to announce that it has complied with the timetables and successfully completed the installations and testing of the Systems .

According to the Company's management estimations, the completion of the installation and testing according to the timetables set forth in the tender (120 days from the date when the tender entered into force) and to the satisfaction of CFE, might cause CFE to exercise its right to increase the number of Systems that will be supplied by the company up to 74 Systems in total, in a manner that might reach an additional consideration to the Company of US \$ 3.5 million in light of supplying such additional Systems. In addition, the completion of the installation and testing of the Systems may assist the Company to engage with other potential customers, especially with utility companies in other countries in the world.

The information in this Immediate Report, in respect of CFE's exercising its right to add Systems, engaging with new potential customers and GenCell's strategic plans and business plans 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. Any forward-looking information contained in this immediate report is based, in addition to existing information of the Company, on current Company expectations and assessments. 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