Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 262

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 262
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. S. federal income tax purposes, created or organized
in or under the laws of the United States, any state thereof, or the District of Columbia, (iii) an estate the income of which is subject
to U. S. federal income tax regardless of its source or (iv) a trust with respect to which a court within the United States is able to
exercise primary supervision over its administration and one or more U. S. persons have the authority to control all of its substantial
decisions, or a trust that has validly elected to be treated as a U. S. person for U. S. federal income tax purposes, whose status as a
U. S. person is not overwritten by an applicable tax treaty.

If an entity treated as a partnership for U. S. federal income tax
purposes holds our ordinary shares or ADSs, the tax treatment of such entity and each person treated as a partner thereof will generally
depend upon the status and activities of the entity and such person. An investor that is treated as a partnership for U. S. federal income
tax purposes should consult its own tax advisor regarding the U. S. federal income tax considerations applicable to it and its partners
of the purchase, ownership and disposition of its ordinary shares or ADSs.

Prospective investors should be aware that this summary does not
address the tax consequences to investors who are not U. S. Investors. Prospective investors should consult their own tax advisors as to
the particular tax considerations applicable to them relating to the purchase, ownership and disposition of their ordinary shares or ADSs,
including the applicability of U. S. federal, state and local tax laws and non-U. S. tax laws.

Ownership of ADSs

For U. S. federal income tax purposes, we expect that a holder of
ADSs generally should be treated as the owner of the ordinary shares represented by such ADSs. As a result, gain or loss is generally
not expected to be recognized on account of exchanges of ordinary shares for ADSs, or of ADSs for ordinary shares.

Taxation of U. S. Investors

The discussions under “ - Distributions,” and
under “ - Sale, Exchange or Other Disposition of Ordinary Shares or ADSs” below assumes that we will not be treated as
a passive foreign investment company, or PFIC, for U. S. federal income tax purposes. However, we have not determined whether we will be
a PFIC for the taxable year ending December