CELLCOM ISRAEL ANNOUNCES UPDATE RE. XFONE's PURCHASE UNDER INSOLVENCY PROCEUDURES (Form 6-K)

CELLCOM ISRAEL ANNOUNCES UPDATE RE. XFONE's

PURCHASE UNDER INSOLVENCY PROCEUDURES

Netanya, Israel - September 5, 2021 - Cellcom Israel Ltd. (TASE: CEL) (hereinafter: the 'Company') announced today that following its previous reports regarding the insolvency proceedings of Marathon (018) Xfone Ltd., or Xfone, and offers for Xfone's purchase under these proceedings (the last of which was filed on Form 6-K on September 3, 2021), on September 5, 2021, at the hearing which was held by the Israeli Insolvency Court regarding a motion for the approval of Xfone's purchase and Xfone's creditors' arrangement, the Court resolved, among others, to hold an additional hearing on October 3, 2021, which will be preceded by another creditors 'meeting that will discuss the offers for the purchase of Xfone and its creditors' arrangement.

The Company will further update on material developments.

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.

CELLCOM