Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 201

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 201
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 by such U.S.
Holder through the Effective Date.

If a U.S. Holder makes
the “all earnings and profits” election, the election must comply with strict conditions for making this election under applicable
Treasury Regulations. U.S. Holders wishing to make the “all earnings and profits” election should consult their own tax advisors
regarding the process for, and effect of, making the election in light of their own circumstances.

10% U.S.
Holders

A U.S. Holder who,
at the time of the Domestication, beneficially owns (directly, indirectly or by attribution) 10% or more of the total combined voting
power or value of all classes of shares of stock of Almonty (a “10% U.S. Holder”) is subject to special rules that
generally require such 10% U.S. Holder to include in income, as a deemed dividend, the “all earnings and profits amount”
attributable to the shares of Common Stock owned by such U.S. Holder. 10% U.S. Holders should consult their own tax advisors regarding the effect of the Domestication to them in light of their own circumstances.

Determination
of the “All Earnings and Profits Amount”

The Company is
currently in the process of determining its historical earnings and profits and also expects to determine its earnings and profits
for 2024 and for the portion of 2025 ending on the effective date of the Domestication. The Company will likely not complete this
determination until after completion of the Domestication. As noted above, the “all earnings and profits amount”
attributable to Common Shares held by a particular U.S. Holder should generally depend on the Company’s accumulated earnings
and profits from the date that the Common Shares were acquired by such U.S. Holder through the effective date of the Domestication.
The Company intends to provide on its external website (https://almonty.com/investors/financials/), under the heading
“Financial Reports”, information regarding the Company’s earnings and profits once such information is reasonably
available. The determination of the Company’s earnings and profits is a complex determination and may be impacted by numerous
factors. Accordingly, there can be no assurance that the IRS will agree with the Company’s determination of such earnings and
profits. If the IRS does not agree with such earnings and profits calculations, the earnings and profits of the Company may be
greater than reported on the Company’s website (as described above).