Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 50

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 50
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 growth-related risks including capacity constraints and pressure on its internal systems and controls. The ability of Almonty to manage
growth effectively will require it to continue to implement and improve its operational and financial systems and to expand, train and
manage its employee base. The inability of Almonty to deal with this growth could have a material adverse effect on its business, operations
and prospects.

Cybersecurity and Data Protection

The Company relies on its information technology
systems, including its networks, equipment, hardware, software, telecommunications and other information technology (collectively, “IT Systems”), and the IT Systems of its vendors and third-party service providers, to operate its business. IT Systems are subject
to an increasing threat of risks from sources including computer viruses, cyber-attacks, ransom ware, malware, security breaches, power
loss, system disruptions, natural disasters, defects in design and other manipulation or improper use. These risks are evolving as IT
Systems and cybersecurity attacks or breaches become more sophisticated and prevalent. These cyber-attacks are also becoming increasingly
sophisticated through the use of artificial intelligence and machine learning tools and tactics and are often well-funded, including
in some cases by state sponsors. These disruptions may also occur for non-malicious reasons, such as the widespread server-related outages
caused by CrowdStrike’s defective software update in July 2024. Any of these occurrences may result in, among other things, unauthorized
access or damage to, or temporary or permanent disruption or failure of, one or more of the Company’s IT Systems (collectively,
“IT Disruptions”).

The Company’s operations depend on the
timely maintenance, upgrade and replacement of its IT Systems, as well as expenditures to mitigate cybersecurity risks and the possibility
of IT Disruptions. Increasingly, the operating and control systems at the Company’s mines and projects rely on IT Systems to monitor
and optimize performance, as the Company continues to adopt remotely controlled mining techniques and electrify its equipment. The Company’s
financial control and accounting systems depend on its IT Systems and its workforce increasingly works remotely, which has further increased
the Company’s reliance on its IT Systems and associated risks. Adoption of new technology that promotes operational efficiency,
such as the use of artificial intelligence, fleet electrification and autonomous vehicles, may further expose the Company’s IT
Systems to risk. As the Company’s use of IT Systems increases and evolves and cybersecurity attacks become more sophisticated or
pervasive, the Company may have to incur significant costs to