#1GENCELL Investors Presentation: From Strategic Partnerships to Extended Growth June 2022 H2 POWERED BY HYDROGEN NH3 AMMONIA POWERED BY#2Legal Disclaimer The information included in this presentation (the "Information") and any other information provided in the presentation is presented for convenience only and does not exhaust all of the data about Gencell Ltd. (the "Company") and the Company's activities, and does not substitute the review of the more detailed information contained in the Company's Periodic Reports and its immediate reports, as reported via the Magna distribution site to the Israeli Authority Securities (the "ISA") and the Tel Aviv Stock Exchange Ltd. (the "TASE"). This presentation does not constitute an offer to buy or sell or an invitation to accept offers to purchase any securities of the Company and is intended to the be informational only. Such an offer shall be made only in subject to the Israeli law, after receiving the necessary permits from the ISA and the TASE. The information does not constitute a basis for making an investment decision, nor does it constitute a recommendation or opinion or substitute for the discretion of a potential investor. This presentation does not include the full results and financial information of the Company and the notes to them, and / or the Company's business plans or the description of all of the Company's activities and/or risk factors. Therefore, each investor must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. The presentation does not constitute a substitute for investment advice or investment marketing advice that takes into account the data and special needs of each person and/or investor and the data included in this presentation does not constitute a substitute for individual discretion and judgment of each potential investor. The company is not responsible for the entirety or accuracy of the information and will not be held liable for any damages and/ or losses that may be caused as a result of any use of the information included in this presentation. To the extent that there is a discrepancy between the information included in this presentation and the information included in the company's reports, the Company's public reports shall prevail. This presentation includes forward-looking information, as defined in the Securities Law, 5728-1968, including forecasts, goals, assessments, estimates and other information pertaining to future events and/or matters, the occurrence of which is uncertain and beyond the Company's control. Any forward-looking information contained in this presentation is based, in addition to existing information of the Company, on current Company expectations and assessments. Although the Company believes 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. The main facts and data that are used as the basis for this information are facts and data regarding the current status of the company and its business and economic macro facts and data, all as known to the company at the time of preparation of this presentation. Any forward-looking information contained in this presentation is based, in addition to the existing information of the company, on the Company's current expectations and assessments regarding future developments in the Company, and on the integration of such developments with one other. It should be emphasized that the presentation may include information that has not been included in the Company's reports and reports in the past and/or has been presented in a manner, characterization, editing, processing, or segmentation different from the way this information is presented in the presentation. The realization or non-realization of the forward-looking information will be affected, inter alia, by risk factors that characterize the Company's operations, as well as by developments in the general environment and external factors affecting the Company's operations, which are unpredictable and are not under the Company's control. Also, as of the date of this presentation it is not possible to estimate the full effect of the enhancement of the Russian military attack on Ukraine on the results of the company's operations. The Company has no certainty that its expectations and assessments, including in respect of its plans, will be materialized, and the results of the Company's operations may differ materially from the results estimated or implied by the foregoing, inter alia due to a change in any of the above factors. The Company also has no certainty that its basic assumptions conditional on third parties will be realized. Thus, readers of this presentation are warned that the actual results and achievements of the Company in the future may be materially different from those presented in the forward-looking information presented in this presentation. It is clarified that the forward-looking statements and estimates are based on data and information that was available only as of the time of preparation of this presentation and the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation. The following English translation of the Company's presentation should not be regarded as a substitute for reading the full original Hebrew version of the presentation. This translation was neither prepared nor checked by the Company. Accordingly, the Company does not warrant that the translation fully, correctly or accurately reflects the presentation and its contents. The binding version of the presentation for all intents and purposes is the original Hebrew version, filed by the Company with the ISA through the MAGNA website. Nothing in this translation constitutes a representation of any kind in connection with the presentation, nor should it be regarded as a source for interpretation of the presentation or the Company's reports or statements. In any event of contradiction or discrepancy between this translation and the Hebrew version of the presentation, the Hebrew version shall prevail. [] ☑ GENCELL 2022#3142 employees; growth of 16% over 2021 Key Figures $81 million cash balance 31.3.22 Relationships with customers at different stages represent deals valuing tens of millions of dollars $6.7 million current backlog 500 Units/year current production capacity 100's of trade secrets 7 9 patents pending patents [] GENCELL 2022#4Active Markets (()) 愛 머 음임 Telecom ~ $7.7 billion market with annual CAGR of 11% Utilities ~$100 billion market with annual CAGR of 4% EV Charging ~$10 billion market with annual growth rate of 4% [] GENCELL 2022#5(P Advanced Progress in Collaboration with Deutsche Telekom Major Account - Deutsche Telekom Active in over 50 countries Operates more than 65,000 sites GenCell FOX™ and G5.2 field tests - Stage 1 completed successfully and Stage 2 close to completion HOMOLOGATION - Integration & network adaptation Integration with Huawei infrastructure at DT site in Dittenheim DE and with Ericsson infrastructure at DT site in Meissen DE DT launched its strategic relationship with GenCell at MWC2022 WW PR campaign GenCell BOXTM featured in DT Booth Rami Reshef, CEO GenCell, presented Keynote and on panel on Sustainability stage in DT booth at MWC T GENCELL TEL Deutsche Telekom German telecommunications company HQ - Bonn, Germany Employees 226,291 (2020) Revenues: EU 101 billion (2021) GENCELL mmmmmm GREECE MORU SITE ☑ GENCELL 2022#6ঊ (8) Advanced Progress in Collaboration with Deutsche Telekom Propelling Strategic Partnership Forward Key DT execs visited GenCell HQ in May 2022 to discuss business strategy forward GenCell and DT are now working to enable a comprehensive integration of GenCell's products into DT's communication infrastructure in coordination with leading telecom infrastructure providers Transition to meaningful commercial relationship with the DT Group Executives of BoM Visit | Deutsche Telekom Dominique Leroy Board member for Europe LinkedIn Vita Michael Hagspihl SVP Global Strategic Projects and Marketing Partnerships LinkedIn Srini Gopalan Board member for Germany LinkedIn Vita Hagen Rickmann Managing Director Business Customers Telekom Deutschland GmbH LinkedIn Sean Seaton SVP Group Partnerships and Devices LinkedIn Alon Segal Managing Director, ISRAEL LinkedIn EMERSON BRANSON ויציאה Omar Tazi Chief of Product Innovation & Customer Experience (PIC) LinkedIn [] GENCELL 2022#7(8) Growth Engine in Telecom: Leading Players in the Sector Additional Strategic Accounts - Leading Players in European Telecom & Tower Markets SIMTEL - EPCM for Vodafone, Telekom, Orange & Digi • Cooperation with SIMTEL is the gate to broad, rapid uptake at operator sites in 8 countries across Central Europe GenCell BOX deployment and FOX field test in progress at live operator's mobile site CELLNEX - European Tower Management Company Agreement reached to incorporate the GenCell BOXTM into CELLNEX's infrastructure as the first step towards potential significant order IHS Towers of strength Advanced discussions between the companies regarding the delivery, installation and management of GenCell FOX™M products as a substitute for their 24/7 diesel generator fleet upon successful completion of field testing IHS -One of the largest telecommunications infrastructure providers in Africa, Latin America HQ - United Kingdom No. Employees: Revenues: +2000 US$ 401 million Cellnex - Spanish wireless telecommunications infrastructure and services company managing 53,000 sites in Europe HQ - Spain No. Employees: Revenues 1,605 EUR 1.04 billion 300 OSUME [] GENCELL 2022#8((8)) Growth Engine in Telecom: Leading Players in the Sector VDL Groep - international industrial and manufacturing company HQ-Netherlands No. Employees: 16,137 Revenues: EUR 5 billion (2017) VDL Groep - international industrial and manufacturing company . Advanced stages of agreement to define a joint solution that will provide temporary power to support the upcoming expansion of 5G deployment in Europe (COWS) AT&T Mexico Following the success at CFE Mexico, AT&T is evaluating the displacement of their traditional generators with GenCell's systems for both backup as well as for continuous power. 112 Iceland Ongoing testing of the GenCell FOX breeds confidence in its capability to supply off-grid power under severe weather in the location, which can potentially lead to a broad adoption of the solution in the future. Cellnex - Spanish wireless telecommunications infrastructure and services company managing 53,000 sites in Europe HQ - Spain No. Employees: Revenues 1,605 EUR 1.04 billion GENCELL [] GENCELL 2022#9Major Accounts in the Utilities / Oil & Gas Sector CFE - Comisión Federal de Electricidad - government owned company - electric utility HQ - Mexico No. Employees: Revenues: 80,127 US$ 20.6 billion ATCO Group, publicly-traded engineering, logistics and energy holding company, parent of ATCO Electric, ATCO Gas-HQ-Canada No. Employees: Revenues: 6,500 US$ 3 billion CFE Mexico 74 hydrogen backup units have been fully integrated and now operate as integral components of CFE's critical infrastructure Discussions in progress re a follow-up order of dozens of additional units to be supplied within 2022 Discussions also ongoing vis-à-vis multi-annual requisition for 2023-2025 ATCO - Leading engineering & energy company in Canada Following thorough examination of BOX, it was decided to incorporate the BOX as a key solution in the hydrogen infrastructure to be established across Canada. HYDROGEN FLAMMABLE GAS NOSNOWING NO OPEN FLAMES ONEC ENGINEER. CONSTRUCT. COMPLETE. ATCO Our Clean Future, Powered Together This generator produces no greenhouse gas emissions ATCO A Westgen & RedHawk Energy Partnership agreements signed with distributors and engineering companies focused on the gas transmission industry in North America ATCO ONEC GENCELL DESIGN BUILD SOLUTIONS INVESTING IN NEW TECHNOLOGIES FOR A CLEANER ENERGY FUTURE [] GENCELL 2022#10D Global Growth Engine: Off-grid EV Charging Stations EV Motors imports electric vehicles from manufacturers such as JAC, ANKAI and LEVC and charging devices from SSE. HQ - Israel No. Employees: 96,506 Revenues: EUR 43.81 billion American car rental company operating some 12,000 corporate and franchisee locations HQ - USA No. Employees: Revenues: 24,000 US$ 9.48 billion Major Account - EV Motors Ltd. . After signing a Strategic Cooperation Agreement, the first four off-grid sites were delivered in Q1 2022 After demonstrating the solution to its customers, EV Motors Ltd. placed an order for systems valued at US$ 5 million EV Motors Ltd. represents significant Chinese corporations who have expressed interest in GenCell's proposed off-grid charging solution Leading Car Rental Corporations Advanced discussions are underway with leading rental car and fleet management companies in U.S. and China BE EV MOTORS A GENCELL GENCELL POWERF THE FUTURE OF ENERGY IS HERE 24/7 GENCELL [] EV PUR GENCELL 2022#11Update: Technology Developments GenCell FOX™ - Multiple Field Tests in Diverse Conditions for Leading Telecom Operators 112 ECS in Iceland DT in Israel Simtel in Romania GenCell G10 - Key Developments Project is currently under development and the product launch is expected in 2023 Production Line Expansion Adaptation of the production line to enable the transition from G5.2 to GenCell BOX T Planning of new production floor to meet capacity requirements for next 2 years T GENCELL Minimal changes option 10\03\2022 Rev-5 POMERED BY HYDROGEN 01 nua'in T YD 12 1021 GENCELL [] ☑ GENCELL 2022#12Update: Technology Developments • • • Upon signing an Agreement with the Japanese conglomerate TDK, the second largest manufacturer of electronics and lithium batteries in the world, who is supporting the establishment of a unique and innovative R&D project that aims to synthesize green ammonia from only sun, air and water, GenCell announced in Q1 2022 a breakthrough in the project upon meeting the requirements of the project's first milestone. The innovative green ammonia production process will allow direct synthesis of green ammonia from water at low temperature and pressure relative to other common ammonia production processes. After evaluating the progress, TDK elected to exercise its right to continue to invest in the project in accordance with the terms of the Agreement, so as to continue to develop the project towards the next milestone. This innovative technology will also enable energy storage and ammonia availability for traditional applications in industry and agriculture, a market estimated to reach some $100 billion dollars per year. TDK "GenCell has abundant knowhow, and its professional R&D team has the experience in alkaline fuel cell development which puts GenCell in a very strong position to succeed with its green ammonia synthesis." Mr Shigeki Satou, Senior VP and CTO, TDK Group GREEN NH3 AMMONIA [] GENCELL 2022#1300 010rategic I 01101100 100 010 100 001 _artnerships Drive Long-term Growth DELTA GROUP 112 ATCO ONEC WESTGEN REDHAWK ENERGY 01 1001 T ABB Q 101100 1001 FCHEA Foot Cell & Hydrogen Energy Asscalation 101 10100 GOVPLACE OVPLACE QUANTUM CFE 011100C Comisión Fadecal de Sectricidad 10 AMMONIA ENERGY ASSOCIATION 01101100101 101109 001010010 011 1001 1010 100111 001 0100 aicox 1011 100 Hydrogen Europe GALLOREMǝ SIMTEL GENCELL EV MOTORS 011chp 100101001011 Adriban Hydrogen Packbership 1011001010 مجموعة موانئ أبوظبي AD PORTS GROUP 10010 001 10 1001011 100 001010 G 101100 0111 TDK amorele VEG-SOLOGY, INC. 1010 101100 10100 011100 GENCELL 2022 ALTERNATIVE ENERGY 1011001 111 10100 01110010010 011011 [] ☑#14GENCELL Thank you for BEING A PART OF THE MOVEMENT FORWARD