diff --git a/apps/mobile/src/features/threads/useThreadListV2.test.tsx b/apps/mobile/src/features/threads/useThreadListV2.test.tsx
new file mode 100644
index 0000000000000..6640cfd570a8c
--- /dev/null
+++ b/apps/mobile/src/features/threads/useThreadListV2.test.tsx
@@ -0,0 +1,80 @@
+import { WORKING_EXIT_GRACE_MS } from "@t3tools/client-runtime/state/thread-inbox";
+import { EnvironmentId, ProviderInstanceId, ThreadId } from "@t3tools/contracts";
+import { act, useLayoutEffect } from "react";
+import { createRoot } from "react-dom/client";
+import { expect, it, vi } from "vite-plus/test";
+
+import { makeThreadShellFixture } from "../../test-fixtures";
+import { threadListInboxReturns } from "./threadListV2";
+import { useThreadListV2 } from "./useThreadListV2";
+
+// The real shelf reads the app's atom registry, which imports Expo; this list has no older pages.
+vi.mock("../../state/olderSettledShelf", () => ({
+  useOlderSettledShelf: () => ({ isListed: () => true, unloadedCount: () => 0 }),
+  useOlderSettledShelfGrowth: () => {},
+}));
+
+const NOW = "2026-06-02T00:00:00.000Z";
+const environmentId = EnvironmentId.make("environment-1");
+
+it("returns a thread from the Working shelf once its exit grace expires", async () => {
+  using _globals = { [Symbol.dispose]: () => vi.unstubAllGlobals() };
+  vi.stubGlobal("IS_REACT_ACT_ENVIRONMENT", true);
+  using _timers = { [Symbol.dispose]: () => vi.useRealTimers() };
+  using _tracker = { [Symbol.dispose]: () => threadListInboxReturns.observe(null) };
+  vi.useFakeTimers({ now: Date.parse(NOW) });
+  const working = makeThreadShellFixture({
+    environmentId,
+    id: ThreadId.make("echo"),
+    title: "echo",
+    runtime: {
+      status: "running",
+      activeRunId: null,
+      providerInstanceId: ProviderInstanceId.make("codex"),
+      providerName: "Codex",
+      lastError: null,
+      updatedAt: NOW,
+    },
+  });
+  const completed = { ...working, runtime: null };
+  const seen: Array<ReturnType<typeof useThreadListV2>["layout"]> = [];
+  function Probe(props: { readonly threads: ReadonlyArray<typeof working> }) {
+    const { layout } = useThreadListV2({
+      threads: props.threads,
+      pendingTasks: [],
+      environmentId: null,
+      projectRefs: null,
+      searchQuery: "",
+      searchMatches: new Map(),
+      settlementEnvironmentIds: new Set(),
+      snoozeEnvironmentIds: new Set(),
+      pinReorderEnvironmentIds: new Set(),
+      activeReorderEnvironmentIds: new Set(),
+      queuedThreadKeys: new Set(),
+      settledLimit: 10,
+      now: NOW,
+      pendingOrder: null,
+      shelfPreferencesLoaded: true,
+      workingShelfEnabled: true,
+      workingShelfExpanded: false,
+      snoozedShelfExpanded: false,
+      settledShelfExpanded: false,
+      selectedThreadKey: null,
+    });
+    useLayoutEffect(() => {
+      seen.push(layout);
+    });
+    return null;
+  }
+
+  const root = createRoot(document.createElement("div"));
+  using _root = { [Symbol.dispose]: () => act(() => root.unmount()) };
+  await act(async () => root.render(<Probe threads={[working]} />));
+  await act(async () => root.render(<Probe threads={[completed]} />));
+  expect(seen.at(-1)?.workingCount).toBe(1);
+
+  await act(async () => vi.advanceTimersByTime(WORKING_EXIT_GRACE_MS));
+  expect(threadListInboxReturns.isWorking(completed)).toBe(false);
+  expect(seen.at(-1)?.workingCount, "the list still shows the finished thread as working").toBe(0);
+  expect(seen.at(-1)?.items.map((item) => item.thread.id)).toEqual(["echo"]);
+});
diff --git a/apps/mobile/src/features/threads/useThreadListV2.ts b/apps/mobile/src/features/threads/useThreadListV2.ts
index 2a6f3504e2f5d..0b27d4481c14f 100644
--- a/apps/mobile/src/features/threads/useThreadListV2.ts
+++ b/apps/mobile/src/features/threads/useThreadListV2.ts
@@ -27,6 +27,14 @@ function useKeySet(newlineSeparatedKeys: string): ReadonlySet<string> {
 
 type LayoutInput = Parameters<typeof buildThreadListV2Items>[0];
 
+/** The React Compiler memoizes on arguments, so an unused version would not re-observe. */
+function observeInboxReturns(
+  threads: Parameters<typeof threadListInboxReturns.observe>[0],
+  _version: number,
+) {
+  return threadListInboxReturns.observe(threads);
+}
+
 /**
  * Home's and the thread sidebar's thread list. Its result is one value a screen only reads:
  * built inline, the list's inputs stayed open to mutation across the screen's other hooks, so
@@ -62,8 +70,7 @@ export function useThreadListV2(input: {
     threadListInboxReturns.getSnapshot,
   );
   const inbox = useMemo(
-    () => threadListInboxReturns.observe(workingShelfEnabled ? threads : null),
-    // oxlint-disable-next-line react/memo-dependencies -- the version signals an expired grace
+    () => observeInboxReturns(workingShelfEnabled ? threads : null, inboxVersion),
     [threads, workingShelfEnabled, inboxVersion],
   );
   // Up/down menu availability for every card, computed once per section per
diff --git a/apps/mobile/vite.config.ts b/apps/mobile/vite.config.ts
index 6e24636671608..7c08d985929c0 100644
--- a/apps/mobile/vite.config.ts
+++ b/apps/mobile/vite.config.ts
@@ -35,6 +35,7 @@ const reactTests = [
   "src/state/use-selected-thread-git-state.test.tsx",
   "src/features/terminal/useTerminalExitNavigation.test.tsx",
   "src/features/threads/use-thread-list-now.test.tsx",
+  "src/features/threads/useThreadListV2.test.tsx",
   "src/features/home/home-list-options.test.tsx",
   "src/features/connection/ConnectionsNewRouteScreen.test.tsx",
 ];