Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 815

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 815
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 the date of the Purchase Agreement until one year after the closing date of the offering, the Company shall not enter into an agreement to effect any issuance by the Company or any of the Company’s subsidiaries of common shares or common share equivalents (or a combination of units thereof) involving a variable rate transaction. The offering is expected to result in gross proceeds to the Company of $ 1,750,000. Annex F-141

Annex G Kadimastem Ltd. Financial Statements as of December 31, 2023 Table of Contents

|                                                                |     | Annex G    
 Page       |
| Report of Independent Registered Public Accounting Firm (1281) |     | G-2        |
| Statements of Financial Position                               |     | G-3        |
| Statements of Profit or Loss and Other Comprehensive Income    |     | G-4        |
| Statements of Changes in Equity                                |     | G-5 – G-6  |
| Statements of Cash Flows                                       |     | G-7        |
| Notes to the Financial Statements                              |     | G-8 – G-49 |

Annex G-1

| Kost Forer Gabbay & Kasierer |     | Tel.: +972-3-6232525 |
| 144A Derech Menachem Begin   |     | Fax: +972-3-5622555  |
| Tel Aviv 6492102             |     | ey.com               |

Report of Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Kadimastem Ltd.: Opinion on the Financial Statements We have audited the accompanying statements of financial position of Kadimastem Ltd. (the “Company”) as of December 31, 2023 and 2022, and the related statements of profit or loss and other comprehensive income, changes in equity and cash flows for each of the three years in the period ended December 31, 2023, and the related notes. In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board. The Company’s Ability to Continue as a Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a