Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 271

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 8
Chunk 271
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 or other disposition
of such ordinary shares or ADSs. Under these rules:

  the excess distribution or gain would be allocated ratably over the Non-Electing U. S.  

  the amount allocated to the current taxable year and any year prior to us becoming  

  the amount allocated to each of the other taxable years would be subject to tax at                                                            

If a Non-Electing U. S. Investor who is an individual dies while
owning our ordinary shares or ADSs, the Non-Electing U. S. Investor’s successor would be ineligible to receive a step-up in tax basis
of the ordinary shares or ADSs. Non-Electing U. S. Investors are encouraged to consult their tax advisors regarding the application of
the PFIC rules to their specific situation.

A Non-Electing U. S. Investor who wishes to make a QEF election
for a subsequent year may be able to make a special “purging election” pursuant to Section 1291(d) of the Code. Pursuant to
this election, a Non-Electing U. S. Investor would be treated as selling his or her ordinary shares or ADSs for fair market value on the
first day of the taxable year for which the QEF election is made. Any gain on such deemed sale would be subject to tax under the rules
for Non-Electing U. S. Investors as discussed above. Non-Electing U. S. Investors are encouraged to consult their tax advisors regarding
the availability of a “purging election” as well as other available elections.

To the extent a distribution on our ordinary shares or ADSs does
not constitute an excess distribution to a Non-Electing U. S. Investor, such Non-Electing U. S. Investor generally will be required to include
the amount of such distribution in gross income as a dividend to the extent of our current or accumulated earnings and profits (as determined
for U. S. federal income tax purposes) that are not allocated to excess distributions. The tax consequences of such distributions are discussed
above under “ - Taxation of U. S. Investors - Distributions.” Each U. S. Investor is encouraged to consult its own
tax advisor with respect to the appropriate U. S. federal income tax treatment of any distribution on our ordinary shares or ADSs.

If we are treated as a PFIC for any taxable year during the holding
period of a Non-Electing U. S. Investor, we