Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 49

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 49
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’s financial performance.

Heightened public
awareness of climate change may generate more intense scrutiny of Almonty’s activities. Even in the absence of formal mandates,
stakeholders such as investors, customers, and local communities may expect the Company to demonstrate robust sustainability practices.
Failure to meet expectations or negative publicity could harm the Company’s reputation, limit financing, or reduce marketability.
Physical effects of climate change, such as extreme weather, changing rainfall, water shortages, or wildfires, could disrupt operations,
damage equipment, and introduce safety risks. Geographical vulnerabilities at each site compound these uncertainties and may require
adaptation measures. Costs for insurance, repairs, shutdowns, and slower production cycles could increase, eroding earnings and investor
confidence.

These environmental
and climate-related uncertainties, regulations, and compliance efforts could negatively impact the Company’s production, operating
results, and financial condition. Evolving environmental obligations and climate change challenges may require Almonty to revise strategies,
allocate resources to compliance, and adopt new technologies. Inability to anticipate or respond to changes, obtain regulatory approvals,
or maintain community support could affect Almonty’s access to resources, output levels, and long-term competitiveness.

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Costs of Land Reclamation

Reclamation is the
responsibility of the mine operator and in some cases the Company is responsible for early-stage exploration reclamation. Given the Company’s
mix of producing, developing, and care-and-maintenance assets in multiple jurisdictions, it is difficult to determine the exact amounts
which will be required to complete all land reclamation activities in connection with the properties in which the Company holds an interest.
Reclamation bonds and other forms of financial assurance represent only a portion of the total amount of money that will be spent on
reclamation activities over the life of a mine. Accordingly, it may be necessary to revise planned expenditures and operating plans in
order to fund reclamation activities. Such revisions could be required on a site-specific basis, particularly where operational plans
or mine life estimates are modified. Such costs may have a material adverse impact upon the financial condition and results of operations
of the Company.

Technological Obsolescence

Our ability to remain
competitive depends on the adoption of advanced mining and processing technologies. Failure to innovate or integrate new technologies
could lead to inefficiencies, higher costs, and diminished competitiveness. The capital-intensive nature of technological upgrades poses
additional financial risks, especially if investments do not yield the expected returns.

Management of Growth

Almonty may be subject
to