Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 88

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 88
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 |  (2 | ) |     |             |   (7 | ) |     |                   |    63 |   |
| Balance as of December 31, 2024                                          |     |                  | 7,433 |   |     |            | 293 |   |     |             |    - |   |     |                   | 7,726 |   |

<div align='center'>F-22</div>

| e. | Management of the Company’s capital |

The Company’s goals in managing
its equity are to preserve the Company’s ability to ensure business continuity, and thus generate a return for the shareholders,
investors, and other interested parties.

The Group pledged a portion of its short-term
deposits. As of December 31, 2023, the fair value of the pledged deposits amounted to USD $170 thousand. In October 2024, the deposit
was released, and as of December 31, 2024, its balance is zero.

Note 14: - EMPLOYEE BENEFIT ASSETS AND LIABILITIES

Employee benefits include short-term benefits,
post-employment benefits, other long-term benefits, and termination benefits.

The applicable labor laws and the Severance Pay
Law in Israel require the Company to pay severance to employees upon their dismissal or retirement, or to make regular contributions into
defined contribution plans according to Section 14 of the Severance Pay Law, as described below. The Company’s liability accounted
for is a post-employment benefit.

The calculation of the Company’s liability
with respect to employee benefits is determined according to the effective employment agreement and the employee’s salary and employment
terms, which establish the right to receive compensation.

The post-employment employee benefits are generally
funded by contributions that are classified as a defined benefit plan or a defined contribution plan, as detailed below.

| 1. | Defined contribution plans |

Section 14 of the Severance Pay Law (1963)
applies to part of the compensation payments, pursuant to which the fixed contributions paid by the Company into pension funds or policies
of insurance companies release the Company from any additional liability to employees for whom said contributions were made. These contributions
and contributions for benefits represent defined contribution plans.

|                                         |     | Year ended December 31, | 2024 |     |     | 2023 |     |     | 2022 |
|:----------------------------------------|:----|:------------------------|-----:|:----|:----