Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 55

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 55
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Environmental and health and safety laws and regulations
can be complex and may be subject to change, such as through new regulations enacted at the supranational, national, sub-national, and/or
local level or new or modified regulations that may be implemented under existing law. The nature and extent of any changes in these laws,
rules, regulations, and permits may be unpredictable and may have material effects on our business. Future legislation and regulations
or changes in existing legislation and regulations, or interpretations thereof, including those relating to electronic waste, could cause
additional expenditures, restrictions, and delays in connection with our operations as well as other future projects, the extent of which
cannot be predicted.

Further, we rely on third parties to ensure compliance
with certain environmental laws, including those related to the disposal of waste, such as electronic waste, to include end-of-life disposal
or recycling. Any failure to properly handle or dispose of waste, regardless of whether such failure is ours or that of our contractors,
may result in liability under environmental laws, including, but not limited to administrative fines and suspension of activity. The costs
of liability with respect to contamination could have a material adverse effect on our business, financial condition, or results of operations.
Additionally, we may not be able to secure contracts with third parties and contractors to continue their key supply chain and disposal
services for our business, which may result in increased costs for compliance with environmental laws and regulations.

Separately, our Company and our operations are
subject to an increasing number of laws and regulations regarding Environmental, Social and Governance (“ ESG”) matters. We
may also be subject to various supply chain requirements in the future regarding, among other things, conflict minerals and labor practices.
We may be required to incur substantial costs to comply with these requirements, and the failure to comply may result in substantial fines
or other penalties that may adversely impact our business, financial condition, or results of operations.

We may be subject to Turkish tax audits
that may result in additional tax liabilities.

Although we believe our tax estimates are reasonable,
the Turkish Revenue Association (“ TRA”) may decide to start a tax audit as a result of an accusation by a third party, an
industry-wide investigation, an internal risk assessment of the TRA or a commercial relationship between us and a company under tax audit.
If the TRA disagrees with the positions taken on our taxes and we do not prevail in any such disagreement, we could incur additional tax
liability, including interest and penalties, which could have an adverse