Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 207

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 207
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.S. persons and by certain non-U.S.
entities that are wholly or partially owned by U.S. persons and to withhold on certain payments, or (ii) if required under an intergovernmental
agreement between the United States and an applicable foreign country, reports such information to its local tax authority, which will
exchange such information with the U.S. authorities. For this purpose, “withholdable payments” generally include payments
of dividends in addition to certain other passive income type amounts. Under the Treasury Regulations, withholdable payments include
gross proceeds from any sale or other disposition of securities (including New Almonty Shares). An intergovernmental agreement between
the United States and an applicable foreign country may modify these requirements. Accordingly, the entity through which New Almonty
Shares are held will affect the determination of whether such withholding is required. Similarly, dividends in respect of New Almonty
Shares held by an investor that is a non-financial non-U.S. entity (as a beneficial owner or as an intermediary) that does not qualify
under certain exceptions will generally be subject to withholding at a rate of 30%, unless such entity either (i) certifies to the applicable
withholding agent that such entity does not have any “substantial United States owners” or (ii) provides certain information
regarding the entity’s “substantial United States owners”, which will in turn be provided to the U.S. Department of
Treasury. All holders should consult their tax advisors regarding the possible implications of FATCA on their ownership of New Almonty
Shares.

<div align='center'>CERTAIN CANADIAN
FEDERAL INCOME TAX CONSIDERATIONS</div>

The following is, as
of the date hereof, a summary of the principal Canadian federal income tax considerations generally applicable under the Income Tax Act (Canada) and the regulations promulgated thereunder (the “Tax Act”), to a holder who acquires, as beneficial
owner, the Common Shares under this Offering, and who, for purposes of the Tax Act and at all relevant times: (i) holds the Common
Shares as capital property; (ii) deals at arm’s length with, and is not affiliated with, us or the Underwriters; (iii) is not,
and is not deemed to be resident in Canada; (iv) has not entered into a “derivative forward agreement” (as defined in the
Tax Act) with respect to the Common Shares; and (v)