Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 763

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 763
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250,000in Company Common Shares to Alpha as consideration for its irrevocable commitment to purchase the Company Common Shares upon the terms and subject to the satisfaction of the conditions set forth in the Facility SPA. Annex F-28

Annex G Kadimastem Ltd. Financial Statements as of December 31, 2024 Table of Contents

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

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, 2024 and 2023, the related statements of profit or loss and other comprehensive loss, changes in equity and cash flows for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, 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 going concern. As discussed in Note 1B to the financial statements, the Company has suffered recurring losses and negative cash flows from operations and has a deficiency in