Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 76

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 76
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 transaction
costs incurred. The right-of-use asset is measured through applying the cost model and depreciated over its useful life or the term of
the lease, whichever is shorter.

Below are data regarding the number of
years of depreciation of the relevant right-of-use assets by class of underlying asset:

|           |     | Years |
| Offices   |     |     3 |
| Vehicles  |     |     3 |
| Equipment |     |     3 |

Where there are indications of impairment,
the Company assesses the impairment of the right-of-use asset in accordance with the provisions of IAS 36.

| 2. | Index-linked lease payments |

At the commencement date of the lease,
the Company uses the applicable index rate on the commencement date for the purpose of calculating future lease payments.

In transactions in which the Company
is a lessee, changes in the total future lease payments as a result of a change in the index are discounted (with no change in the discount
rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use asset only when there
is a change in the cash flows that results from a change in the index (that is, at the time in which the adjustment to the lease payments
comes into effect).

| 3. | Lease extension and termination options |

A non-cancellable lease term includes
both the periods that are covered by an option to extend the lease, when it is reasonably certain that the option will be exercised, and
the periods that are covered by an option to terminate the lease, when it is reasonably certain that the termination option will not be
exercised.

In the event that there is a change in
the likelihood of exercising an extension option or the expected non-exercise of the lease termination option, the Company remeasures
the outstanding lease liability in accordance with the updated lease period, according to the updated discount rate on the day of the
change in the likelihood, and the total change is credited to the balance of the right-of-use asset until it is zeroed and then, to profit
or loss.

In each reporting period, the Company’s
management examines the likelihood of exercising an extension option and updates the aforementioned leases’ amortization schedules
accordingly.

According to the Company’s assessment,
no extension option will be exercised.

| 4. | Subleases |

In transactions where the Company leases
an underlying asset (the “primary lease”) and subsequently subleases such underlying asset to a