Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 34

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 34
---
 areas for
further attention or improvement. We cannot assure you that there will not be material weaknesses or deficiencies that we will identify
in the future.

If we are unable to conclude
that we have effective internal controls over financial reporting, investors may lose confidence in our operating results, the price of
our ADSs could decline and we may be subject to litigation or regulatory enforcement actions. In addition, if we are unable to meet the
requirements of Section 404 of the Sarbanes-Oxley Act, our ADSs may not be able to remain listed on Nasdaq.

ADS holders may be subject to additional
risks related to holding ADSs rather than ordinary shares.

ADS holders do not hold ordinary
shares directly and, as such, are subject to, among others, the following additional risks:

  As an ADS holder, we will not treat you as one of our shareholders and you will not be able to exercise shareholder rights, except through the depositary as permitted by the deposit agreement.  

  Distributions on the ordinary shares represented by your ADSs will be paid to the depositary, and before the depositary makes a distribution to you in respect of your ADSs, any withholding taxe...  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  We and the depositary may amend or terminate the deposit agreement without ADS holders’ consent in a manner that could prejudice ADS holders.  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

You must act through the depositary to exercise
your voting rights and, as a result, you may be unable to exercise your voting rights on a timely basis.

As a holder of ADSs (and not
the ordinary shares underlying your ADSs), we will not treat you as one of our shareholders, and you will not be able to exercise shareholder
rights. The depositary will be the holder of the ordinary shares underlying your ADSs, and ADS holders will be able to exercise voting
rights with respect to the ordinary shares represented by their ADSs only in accordance with the deposit agreement. There are practical
limitations on the ability of ADS holders to exercise their voting rights due to the additional procedural steps involved in communicating
with these holders. For example, holders of our ordinary shares will receive notice of shareholders’ meetings by mail and will be
able to exercise their voting rights by either attending the shareholders meeting in person or