Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 36

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 36
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 operations and financial position. The actual amounts recorded as of the completion of the Merger may differ materially from the information presented in these unaudited pro forma condensed combined financial statements. The unaudited pro forma condensed combined financial statements do not give effect to the potential impact of current financial conditions, regulatory matters, operating efficiencies or other savings or expenses that may be associated with the integration of the two companies. The unaudited pro forma condensed combined financial statements have been prepared for illustrative purposes only and are not necessarily indicative of the financial position or results of operations in future periods or the results that would have been realized had Kadimastem and NLS been a combined company during the specified period. The unaudited pro forma adjustments represent NLS’s best estimates based on currently available information and assumptions management believes are reasonable, as described in the accompanying notes. In summary, the unaudited pro forma condensed combined financial statements reflect the following adjustments: (1) payments for transaction -relatedcosts; (2) the conversion of the convertible component of Kadimastem’s loan and the exercise of warrants, resulting in an increase to the cash balance; (3) the recording of goodwill as part of the Merger; (4) the conversion of related -partyloans by Kadimastem into equity; (5) the recording of accruals for transaction -relatedcosts; (6) the elimination of Kadimastem’s share capital and share premium, and NLS’s accumulated deficit in connection with the reverse triangular merger; and (7) the recording of NLS Common Shares issued as part of the Merger to the Kadimastem shareholders, as Kadimastem will be the surviving operating entity for accounting purposes. 21

Kadimastem Ltd. & NLS Pharmaceutics Ltd.
Unaudited Pro Forma Condensed Combined Balance Sheets

|                                                                                       |     | As of June 30, 2025 |            |     |               |           |     |             |   |     |       |     |             |             |   |     |       |     |           |            |
|:--------------------------------------------------------------------------------------|:----|:--------------------|-----------:|:----|:--------------|----------:|:----|:------------|:--|:----|:------|:----|:------------|------------:|:--|:----|:------|:----|:----------|-----------:|
|                                                                                       |     | Kadimastem          
 Ltd