Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 55

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 55
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 its business, results of operations and financial condition.

Anti-Corruption and Anti-Bribery
Laws

The Company’s
operations are governed by, and involve interactions with, various levels of government in numerous countries. The Company is required
to comply with anti-corruption, anti-bribery and sanctions laws, including the Corruption of Foreign Public Officials Act (Canada),
the Criminal Code Actand Corporations Act(Australia) and, following the Offering, the United States’ Foreign Corrupt Practices Act, as well as similar laws in the countries in which the Company or its contractual counterparties conduct their
business. There has been a general increase in the frequency of enforcement and the severity of penalties under such laws, resulting
in greater scrutiny and punishment of companies convicted of violating these laws. The Company may be found liable for violations by
not only its employees, but also by its third-party agents. Measures that the Company has adopted in attempt to mitigate these
risks may not be effective in ensuring that the Company, its employees or third-party agents will comply strictly with such laws. If
the Company is subject to an enforcement action or is found to be in violation of such laws, this may result in significant penalties,
fines and/or sanctions imposed on the Company which could result in a material adverse effect on the Company’s reputation, financial
performance and results of operations. If the Company chooses to operate in additional foreign jurisdictions in the future, it may become
subject to additional anti-corruption, anti-bribery and sanctions laws in such jurisdictions.

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Canada’s Extractive Sector
Transparency Measures Act

The Extractive Sector
Transparency Measures Act (Canada) (“ESTMA”) requires public disclosure of certain payments to governments by companies
engaged in the commercial development of minerals which are publicly listed in Canada. Mandatory annual reporting is required for extractive
companies with respect to payments made to foreign and domestic governments, including aboriginal groups. ESTMA requires reporting on
the payments of any taxes, royalties, fees, production entitlements, bonuses, dividends, infrastructure reporting or structuring payments
to avoid reporting. If the Company becomes subject to an enforcement action or is in violation of ESTMA, this may result in significant
penalties or sanctions which may also have a material adverse effect on the Company’s reputation.

Ukraine Conflict

The conflict between Russia and Ukraine, which
began in early 2022, remains ongoing and has contributed to heightened geopolitical instability and global economic uncertainty. A wide