Gencell Ltd. — Regulatory Filings 2021

Mar 9, 2021

This is an English translation of a Hebrew immediate report that was published on December 20, 2020 (reference no.: 2021-01-029763) (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.

9 March, 2021

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 chapter 6 of the prospectus for the initial public offering (IPO) which is also a shelf prospectus of the Company dated November 9, 2020, bearing the date of November 10, 20201 , the Company is hereby honored to announce that on March 8, 2021, The Company successfully Completed the development of noble metal (Palladium) free catalyst which is a cheap substance to a noble meatal based catalyst. The noble metal free catalyst is needed to accelerate the reactions occurring at the anode and cathode of the Company alkaline fuel cell. This noble free catalyst is protected by a patent is several places around the world.

The company estimates that the completion of the non-precious metal catalytic material in the Company's fuel cell technology, will significantly reduce cost of the fuel cell stacks (USD 3,000- 4,000), which will enable to give competitive advantage to the company in compare to its competitors that continue to manufacture noble meatal based catalyst.

The information in this immediate, in respect of The Company's developments, production capacity and strategic plans and business plans is forward looking information within the meaning of the Securities Law, 1968, for which there is no certainty that it 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 believe the assumptions upon which any forward-looking statements are based are reasonable, any of the assumptions could prove to be in accurate and the forward-looking statements based on these assumptions could be incorrect.

Sincerely, Gencell Ltd. Signed by: Yossi Salomon, CFO

¹ For the prospectus, please see the formal website of Israel Securities Authority www.magna.isa.gov.il (Ref. No. 2020-01-120750).