Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 95

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 95
---
 NCCG Committee and               
 is not an independent director by virtue of $246,294 received by him in consulting                
 fees for the most recently completed fiscal year ended December 31, 2024. The foregoing is        
 consistent with the laws, customs, and practices in Canada.                                       |
| ● | We do not follow                                                                                  
 Rule 5605(e), but instead follow our home country practice. The NASDAQ requirement under          
 Rule 5605(e) is for Director nominees to either be selected, or recommended for the Board’s       
 selection, either by independent directors constituting a majority of the Board’s independent     
 directors in a vote in which only independent directors participate, or by a nominations          
 committee comprised solely of independent directors. Mr. D’Amato is a member of the               
 NCCG Committee and is not an independent director by virtue of $246,294 received by               
 him in consulting fees for the most recently completed fiscal year ended December 31, 2024.       
 The foregoing is consistent with the laws, customs, and practices in Canada.                      |
| ● | We do not follow                                                                                  
 Rule 5620(c), but instead follow our home country practice. The NASDAQ minimum quorum requirement 
 under Rule 5620(c) for a meeting of shareholders is 33.33% of the outstanding Common Shares.      
 In addition, Rule 5620(c) requires that an issuer listed on NASDAQ state its quorum requirement   
 in its bylaws. Our bylaws indicate that at any meeting of our shareholders, two persons,          
 being the holders of 25% of the shares entitled to vote at the meeting, present in person         
 or represented by proxy, would constitute a quorum for the transaction of any business of         
 the Company. The foregoing is consistent with the laws, customs, and practices in Canada.         
 Following the Domestication, the quorum requirement be increased to 33.33% of the outstanding     
 Common Shares as new by-laws of the Company will become effective.                                |

| 53 |

Executive Compensation

Detailed information
concerning the compensation of our executive officers and directors for the fiscal year ended December 31, 2024 is contained in
pages 35 to 50 of our Management Information Circular dated March 21, 2025 and filed on March 26, 2025, prepared for the purposes of
the annual general and special meeting of the shareholders of the Company held on April 30, 2025, which is incorporated