Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 46

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 46
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 may increase the risk of collapse. The occurrence of such events could
result in significant operational disruptions and financial losses.

Reputational Risk

Damage to the Company’s reputation can
be the result of its actual or perceived actions or inactions and a variety of events and circumstances, and could result in negative
publicity, whether or not true. Occurrences that may have an adverse effect on the Company’s reputation include, the Company’s
handling of matters relating to the environment (including tailings and tailings failures), employee relations, mine safety and security
and dealings with local community organizations or individuals.

The Company may not be able to resolve such matters
before they become public knowledge or become the subject of legal or regulatory proceedings. The growing use of social media to generate,
publish and discuss community news and issues and to connect with others has made it significantly easier, among other things, for individuals
and groups to share their opinions of the Company and its activities, whether true or not. The Company does not have direct control over
how it is perceived by others. In the future, certain matters may affect the Company’s reputation in the view of its stakeholders.
Such matters, once publicized, may negatively affect the Company’s reputation. Any damage to the Company’s reputation could
result in, among other things, a decrease to the trading price of the Common Shares, decreased investor confidence, challenges in maintaining
positive relationships with the communities in which it operates and other important stakeholders, and increased risks in obtaining permits,
financing or social license for our operations, any of which could have a material adverse effect on the Company’s earnings, cash
flows, financial condition or results of operations.

Geopolitical Risks in Key Operating
Regions

The Company’s
operations are subject to political and geopolitical risks that could adversely affect its business, financial condition, and results
of operations. These risks include changes in government policies, political instability, civil unrest, trade restrictions, expropriation,
and the outbreak of war or other hostilities in the regions where the Company operates, including South Korea, Spain, and Portugal and
are beyond the Company’s control and may adversely affect our operations. Additionally, shifts in political attitudes or changes
in mining or investment policies in these regions could impact the Company’s profitability and ability to meet its strategic objectives.
This could include disruptions to supply chains, regulatory challenges, or increased costs. In particular, relations between the Republic
of Korea and North Korea have been tense throughout Korea’s modern history. The level of