Cellect Biotechnology Ltd.

Cellect Biotechnology Ltd.

In accordance with the decision of the Company's

Board of Directors from August 10, 2016, the Company wishes to hereby submit an immediate report regarding the convening of a special

general meeting of Company shareholders, in accordance with the Securities Regulations (Periodic and Immediate Reports) 5730-1970

and in accordance with the provisions of the Companies Law.

This summons refers to holders of shares listed

on the Tel-Aviv Stock Exchange Ltd., and holders of American Depository Shares listed in the Nasdaq Capital Market in the US (Hereinafter

jointly: "Shareholders").

The special general meeting of

Company shareholders whose agenda includes the topics specified in Section 2 below will convene on September 18, 2016, at 16:00

in the offices of the Company's attorney - Doron, Tikotzky, Kantor, Gutman, Cederboum

& Co., on 12 Aba Hillel Street, Ramat Gan. The deferred meeting, if required, will take place on September 25, 2016

at the same venue and time.

the Company announced the registration and sale of American Depository Shares (Hereinafter "ADSs") as well

as negotiable warrants, for the acquisition of ADSs (Hereinafter "Negotiable Warrants"), and negotiable

warrants for underwriters, for the acquisition of ADSs (Hereinafter: "Negotiable Warrants for

Underwriters"), to be listed on Nasdaq Capital Market in the United States. The Negotiable Warrants and Negotiable

Warrants for underwriters will hereinafter jointly be called "Negotiable Warrants in the US".

In light of said listing, the Company

intends to transition from the reporting format in accordance with Chapter F of the Securities Law 5728-1968 (the "Securities

Law") to the reporting format in accordance with the American Securities Laws in accordance with and subject to the provisions

set forth in Section 35(32) of the Securities Law.

With the transition to the reporting

format in accordance with Chapter E3 of the Securities Law, i.e. reporting in compliance with the American Securities Laws, the

Company will issue its reports to be published by the SEC in the U.S. in a parallel manner in Magna.

It is hereby clarified that the

decision to transition the Company from the reporting format in accordance with the Securities Law to the reporting format in accordance

with the American Securities Laws is subject to approval of the meeting of Shareholders and ADSs of the Company as well as approval

of the meeting of holders of negotiable warrants of the Company, as applicable (Hereinafter jointly: "Holders of the Company's

Securities"), all largely as specified in Section 5 below. Without derogating from the approval specified in this section

above, said decision is also subject to approval of the Securities Authority. If the required majority is not obtained among the

Holders of the Company's Securities, or if no approval is obtained from the Securities Authority, the Company will continue to

report in the reporting format in accordance with Chapter E3 of the Securities Law in addition to the reporting format in accordance

with the American Securities Laws.

For more information, see the Company's immediate report dated July 31, 2016 [Reference: 2016-01-093196]

It should be noted that as long

as the Company has valid directors and senior officers' insurance, it will include all directors and/or senior officers who left

the Company up to the end of 7 years from the date of their departure and subject to the terms of the policy not being significantly

worse than the terms of the insurance policy that had been in place in the Company prior to their departure. If the Company will

cease engagement in the future in the insurance policy to cover directors and senior officers' liability or if the terms of the

policy that are renewed following their departure are worse than those that were in place prior to their departure, the Company

undertakes to acquire for the directors and senior officers run-off insurance for the balance of the period of up to 7 years from

the date of the departure of the Director and/or senior officer, under terms that are not less than those in the policy that had

been in place in the Company on the eve of their departure, and whose overall cost does not exceed twice the ceiling of the annual

premium for directors and senior officers insurance.

The quorum in a general meeting

involves the presence of at least two (2) Shareholders who hold at least one-third of the voting rights (including by way of proxy

or proxy statement), within half an hour of the date set to open the meeting. If after half an hour from the scheduled start of

the meeting there is no quorum, the meeting will be postponed by one week, to the same day, at the same time and at the same venue

set forth for the original meeting, or a later date if specified in the notice about the meeting, or to another date, time and

venue as to be set forth by the Board of Directors in the notice to the Shareholders. If within half an hour of the scheduled start

of the postponed general meeting, there is no quorum as specified above, the meeting will take place with any number of participants

The date of record for establishing

eligibility of Company shareholders to vote in the general meeting is August 18, 2016 (the "Date of Record").

Any Company Shareholder on the Date of Record, whether they are listed under its name or whether they are holding then by way of

a member of the TASE, is eligible to participate in said meeting either in person or by way of proxy to vote, pursuant to having

issued to the Company, prior to the meeting original confirmation regarding Company shares on the Date of Record (that must be

obtained from said member of the TASE). A document appointing a proxy ("Letter of Appointment") as well as the

original power of attorney by which the Letter of Appointment was signed (if any) must be deposited with the offices of the Company's

attorney, on 12 Derech Aba Hillel, Ramat Gan, up to 48 hours prior to the date of the meeting.

Written Vote and sending

A version of the proxy statement

can be found on the Israel Securities Authority distribution site at www.magna.isa.gov.il and on the Tel-Aviv Stock Exchange

Ltd. website: www.tase.co.il. Shareholders can also contact the Company directly to obtain the proxy statement. Holders

of the ADSs may contact The Bank of New York Mellon to obtain the proxy statement. A member of the TASE will send free of charge,

via email, links to the proxy statement, if any, to any Shareholder who is not registered in the Security Holders Registry of

the Company and whose shares registered with said TASE member, if the Shareholder informed the TASE member of its wishes to do

so, and pursuant to said notice having been granted with regards to a certain securities account and on a date preceding the date

Shareholders who are registered

with a TASE member are entitled to receive confirmation of ownership from the TASE member through whom the shares are being held,

in the branch of the TASE member or by mail to its address for a shipping fee only, if it so requests, and that the request with

regards to this matter is given in advance to the certain security account. The owner will specify the method of voting on the

proxy statement and will submit it to the Company or will send it by registered mail, with the confirmation reaching the offices

of the Company lawyers on 12 Derech Aba Hillel, Ramat Gan no later than 48 hours prior to the scheduled date of the meeting. One

or more shareholders who are holding on the Date of Record shares at a percentage that constitutes five percent or more of the

total voting rights, and any party holding said percentage of total voting rights that are not held by a controlling interest in

the Company, as defined in Section 268 of the Companies Law, is entitled to review proxy statements as specified in Regulation

10 of the Company Regulations (Written Vote and Notice of Position) 5765-2005.

The deadline for issuing the

notice of position is up to 10 days prior to the scheduled date of the meeting, i.e. September 8, 2016, and the deadline for

issuing the response of the directors to the notices of position is up to 5 days before scheduled date of the meeting, i.e.

Shareholders who have registered

to their credit with a TASE member one share and said share is included among the shares listed in the Company's shareholder registry

for listings ("Unregistered Shareholders") can vote by way of proxy statement to be sent to the Company in the

electronic voting system ("Electronic Vote"), in accordance with and subject to the terms set forth in the

voting regulations. In accordance with and subject to the terms set forth in the voting regulations and the provisions of the Securities

Authority in this matter, electronic voting will be allowed up to six hours prior to the scheduled date of the meeting ("System

Lock Date"). It is hereby clarified that in accordance with the specified in the

voting regulations, the electronic vote can be changed or cancelled until the System Lock Date, after which it cannot be changed

through the system. It should be noted that in accordance with Section 83(d) of the Companies Law, if the shareholder voted in

more than one manner, the last method of voting will be counted, where for this purpose, the vote of the shareholder itself or

by way of proxy the later of the votes will be counted through the electronic voting system.

It is possible that following publication

of this invitation to a special general meeting, the Shareholder will request to include a topic on the agenda of the special general

meeting in accordance with the provisions of Section 66(b) of the Companies Law. In said case, the latest agenda of the special

general meeting can be reviewed in the Company reports on the ISA distribution site or on the TASE website. The deadline for submitting

a request by Shareholders to include a topic on the agenda of the special general meeting as specified is up to three days after

the date of invitation to the meeting, i.e. August 15, 2016.

Documents pertaining to this report