Company: ALM
Filing Date: 2025-10-22
Form Type: F-10
Source: 0001493152-25-018900
Chunk: 38

Company: Almonty Industries Inc.
Filing Date: 2025-10-22
Form: F-10
Chunk 38
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| Chairman, President and Chief Executive Officer |     | Chief Financial Officer |

<div align='center'>On Behalf of the Board of Directors</div>

| (Signed) Mark Trachuk |     | (Signed) David Hanick |
| Lead Director         |     | Director              |

| C-1 |

<div align='center'>PART II

INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</div>

Limitations on Liability and Indemnification of Directors and Officers.

Under the Canada Business Corporations Act (the “ CBCA”), we may indemnify our current or former directors or officers or another individual who acts or acted at our request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of his or her association with us or another entity. The CBCA also provides that we may advance moneys to a director, officer or other individual for costs, charges and expenses reasonably incurred in connection with such a proceeding; provided that such individual shall repay the moneys if the individual does not fulfill the conditions described below.

However, indemnification is prohibited under the CBCA unless the individual:

| ● | acted                                                                                                                               
 honestly and in good faith with a view to our best interests, or, as the case may be, to the best interests of the other entity for 
 which the individual acted as director or officer or in a similar capacity at our request; and                                      |
| ● | in                                                                                                                                  
 the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the individual had reasonable 
 grounds for believing that his or her conduct was lawful.                                                                           |

Our by-laws require us to indemnify to the fullest extent permitted by the CBCA each of our current or former directors or officers and each individual who acts or acted at our request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including, without limitation, an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of his or her association with us or another entity.

Our by-laws authorize us