Almonty Industries (AII) Registration Filing summary

Company overview and business model

• Leading producer of tungsten concentrate for defense, aerospace, and high-tech sectors, with vertical integration plans into oxide production and a significant molybdenum deposit.

• Flagship Sangdong Mine in South Korea is among the world's largest tungsten deposits and is in soft commissioning, expected to supply a major share of non-China global tungsten.

• Operates the Panasqueira Mine in Portugal, one of the world's longest-producing tungsten mines, and holds additional assets in Spain for future growth.

• Growth strategy centers on building a secure Western tungsten and molybdenum supply chain, reducing reliance on China.

• Long-term, floor-priced offtake agreements with major customers in defense, aerospace, and technology across the US, EU, and Japan.

Financial performance and metrics

• As of June 30, 2025: 195,860,805 Common Shares issued, 17,789,846 Warrants, and 15,897,956 stock options outstanding; as of the prospectus date: 230,928,191 Common Shares, 9,917,747 Warrants, and 7,597,973 Options outstanding.

• On July 15, 2025, completed a US IPO of 20,000,000 Common Shares at US$4.50 per share, raising US$90 million.

• Share consolidation (1.5:1) effective July 3, 2025, with post-consolidation trading from July 7, 2025.

• Trading prices as of October 21, 2025: C$11.67 on TSX, US$8.24 on Nasdaq.

Use of proceeds and capital allocation

• Up to 84% of US IPO net proceeds allocated to development of a nano tungsten oxide facility in South Korea; up to 1% for early-stage development; remainder for working capital, corporate expenses, business development, and potential acquisitions.

• Management retains broad discretion over allocation of net proceeds depending on operating and capital needs.