CELLCOM ISRAEL ANNOUNCES COLLABORATION RE.
ELECTRICITY PROVISION WITH MESHEK ENERGY CORP.

Netanya, Israel - June 14, 2021 - Cellcom Israel Ltd. (TASE: CEL) (hereinafter: the 'Company') announced today that the Company entered a term sheet for collaboration via a joint venture with Meshek Energy - Renewable Energy Ltd., or Meshek Energy, in the field of electricity provision in Israel to private and business customers (who own smart electricity meters) in accordance with the emerging reform of the Israeli Public Services Authority-Electricity to open segments in the production and supply chain of electricity to competition.
The activity in the field in collaborationwith Meshek Energy is subject to various conditions and approvals, including obtaining a relevant license and entering into a definitive agreement. The Company cannot assure such terms and approvals will be met.
The Company estimates that this activity will not have a material effect on its results of operations in the coming years.
The Company's estimation is a forward-looking statementas defined in the U.S Private Securities Litigation Reform Act of 1995 and the Israeli Securities Law, 1968 and is subject to assumptions and uncertainties related to this activity, including due to regulatory changes, technological changes and other factors that are not under the Company's control which may lead to materially different outcome than that set forth above.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services. Cellcom Israel is the largest Israeli cellular provider, providing its cellular subscribers with a broad range of services including cellular telephony, roaming services, text and multimedia messaging, advanced cellular and data services and other value-added services in the areas of mobile office, data protection etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates advanced networks enabling high-speed broadband and advanced multimedia services. Cellcom Israel offers nationwide customer service including telephone customer service, retail stores, and service and sale centers. Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel.

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Cellcom Israel Ltd. published this content on 14 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2021 10:04:08 UTC.