Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 52

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 52
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 cancellation) be taxed as a partial liquidation
for Swiss federal withholding tax purposes, with the consequence that the difference between the repurchase price and the par value of
the shares (Nennwertprinzip) plus capital contribution reserves (Reserven aus Kapitaleinlagen) is subject to Swiss federal withholding
tax.

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The Swiss federal withholding
tax is refundable or creditable in full to a Swiss tax resident corporate and individual shareholder as well as to a non-Swiss tax resident
corporate or individual shareholder who holds the Common Shares as part of a trade or business carried on in Switzerland through a permanent
establishment or fixed place of business situated for tax purposes in Switzerland, if such person is the beneficial owner of the distribution
and, in the case of a Swiss tax resident individual who holds the Common Shares as part of his or her private assets, duly reports the
gross distribution received in his or her individual income tax return or, in the case of a person who holds the Common Shares as part
of a trade or business carried on in Switzerland through a permanent establishment or fixed place of business situated for tax purposes
in Switzerland, recognizes the gross dividend distribution for tax purposes as earnings in the income statements and reports the annual
profit in the Swiss income tax return.

If a shareholder who is not
a Swiss resident for tax purposes and does not hold the Common Shares in connection with the conduct of a trade or business in Switzerland
through a permanent establishment or fixed place of business situated, for tax purposes in Switzerland, receives a distribution from the
Company, the shareholder may be entitled to a full or partial refund or credit of Swiss federal withholding tax incurred on a taxable
distribution if the country in which such shareholder is resident for tax purposes has entered into a treaty for the avoidance of double
taxation with Switzerland and the further prerequisites of the treaty for a refund have been met. Shareholders not resident in Switzerland
should be aware that the procedures for claiming treaty benefits (and the time required for obtaining a refund or credit) may differ from
country to country.

Individual and Corporate Income Tax on Dividends

Swiss resident individuals
holding the Common Shares as part of their private assets who receive dividends and similar distributions (including stock dividends and
liquidation proceeds), which are not repayments of the par value (Nennwertrückzahlungen) of the Common Shares or reserves paid out
of capital contributions (Reserven aus Kapitaleinlagen