Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 54

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 54
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 that litigation, or in defending, settling, or resolving those
proceedings, may be material to our business.

We have faced, and are likely to continue
to face, lawsuits from local governmental entities, municipalities, and private citizens related to the conduct of our business.

We have been, and continue to be, subject to litigation
and other actions brought by governmental entities, municipalities, and private citizens alleging a variety of causes of actions, among
other things, failure to operate with proper local permits, public nuisance and trespass related to the placements of our two-wheeled
electric vehicles on public property, interfering with others’ use and enjoyment of, and access to, public and private property,
and personal injuries and property damages caused by riders of our two-wheeled electric vehicles. Defending these matters has and could
continue to significantly increase our operating expenses. In addition, if we are determined to have violated applicable laws or regulations,
or we settle or compromise these disputes, we may be required to change our operations or services in certain markets or globally, to
change material components of our business strategy, to cease operations in one or more markets, and/or to pay substantial damages or
fines. In the event that we are required to take one or more such actions, our business, prospects, operating results, and financial condition
could be materially adversely affected. In addition, any litigation or claims, valid or not, could result in substantial costs, negative
publicity, and diversion of resources and management attention.

We are subject to various existing and future
environmental health and safety laws and regulations that could result in increased compliance costs or additional operating costs and
restrictions. Failure to comply with such laws and regulations may result in substantial fines or other limitations that could adversely
impact our financial results or operations.

We and our operations, as well as our contractors,
suppliers, and customers are subject to various domestic and international environmental laws and regulations, including laws related
to the generation, storage, transportation, and disposal of hazardous substances and waste as well as electronic waste and hardware, whether
hazardous or not. We or others in our supply chain may be required to obtain permits and comply with procedures that impose various restrictions
on operations that could have adverse effects on our operations. If key permits and approvals cannot be obtained on acceptable terms,
or if other operational requirements cannot be met in a manner satisfactory for our operations or on a timeline that meets our commercial
obligations, it may adversely impact our business.