Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 106

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 106
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conditions precedent related, among others, to actions that NLS is required to take prior to the closing of the merger transaction, including
regarding the arrangement of the continued trading of its shares on Nasdaq and its compliance with the threshold conditions required for
this, which are expected to be examined by Nasdaq as part of the submission of the application for trading of the Merged Company close
to the date of closing. (See Note 23C.)

Note 18: - EQUITY

| A. | Composition of the share capital |

|                                                                    |     |      December 31 |             |     |            |           |     |            |             |     |            |           |   |
|                                                                    |     |             2024 |             |     |            |           |     |       2023 |             |     |            |           |   |
|                                                                    |     |       Authorized |             |     | Issued and 
 paid up    |           |     | Authorized |             |     | Issued and 
 paid up    |           |   |
|                                                                    |     | Number of shares |             |     |            |           |     |            |             |     |            |           |   |
| Ordinary shares, p.v. NIS 0.1 per share (p.v. USD $0.03 per share) |     |                  | 150,000,000 |     |            | 4,193,689 |     |            | 150,000,000 |     |            | 4,193,689 | * |

| * | Adjusted retrospectively due to a reverse share split. See Notes 18I and 18K. |

<div align='center'>F-32</div>

| B. | Movement in share capital |

Issued and paid-up capital:

|                                 |     | Number of 
 shares    |             |   |     | USD par value 
 in thousands  |       |
| Balance as of January 1, 2023   |     |           |  36,406,747 |   |     |               | 1,081 |
| Issuance of share capital       |     |           |   5,530,152 |   |     |               |   157 |
| Balance as of December 31, 2023 |     |           |  41,936,899 |   |     |               | 1,238 |
| Reverse Share Split