Gencell Ltd.

Regulatory Filings • Nov 19, 2023

This is an English translation of a Hebrew immediate report that was published on November 19, 2023 (reference no.: 2023-01-125163) (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.

( "Company")

November 19nd, 2023

To To www.isa.gov.il https://maya.tase.co.il

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

Re: Immediate Report

In continuation to the Immediate Reports of the Company1 regarding the Company's project to develop a product which will enable the production of green ammonia (ammonia synthesis involving zero CO2 emissions) (the "Project"), in which the Japanese technology provider TDK Corporation ("TDK") is participating in, the Company is hereby honored to announce that the Company has made additional significant progress in the development process which has exceeded the Company and TDK's initial expectations, as set forth in the framework of the cooperation in the Project.

The Company has achieved lab results indicating Faradaic efficiency of 50% in its green ammonia synthesis process compared to 25% efficiency achieved by traditional green ammonia synthesis methods , by developing new methods and techniques to overcome the most challenging steps in the 2 nitrogen reduction reaction (NRR) process which eventually may allow for production of Green Ammonia at a lower price than the current alternative method.

As part of the Company's long-term strategic plan to generate a significant advantage in its field of activity, both generally and specifically for the Project, by protecting its intellectual property, the Company is planning protect their intellectual property in the Project and its development processes by submitting a patent application for the inventions in the green ammonia synthesis process.

Accordingly, the Company and TDK are currently evaluating the significance of the implications derived from this development.

The information shared in this Immediate Report regarding the efficiency for Green Ammonia production not in laboratory surrounding and to produce Green Ammonia in a cheaper price, the registration of patent of the invention, including the ability to commercialize the completion

¹ The immediate reports were published on February 23, 2021 and February 27, 2022 (References No.- 2021-01-022075 and 2022-01-019404, respectively). The abovementioned is hereby incorporated by references. 2 https://pubs.acs.org/doi/10.1021/acsenergylett.0c00455

of the development of the Company's green ammonia product and the completion of the Project is forward-looking information within the meaning of the term in the Securities Law, 1968 ("Forward-Looking Information"). This Forward-Looking Information is based on information currently in the hands of the Company and on the Company's general assessments, estimates or directions as of the date of this Immediate Report, whereupon the actual results may not be realized in whole or in part or may be realized differently than estimated.

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