Almonty Announces New Share Repurchase Program of Up to US$300,000,000

DILLON, Montana — Almonty Industries Inc. (“ Almonty ” or the “ Company ”) (NASDAQ: ALM) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced the approval by the Company’s Board of Directors (the “ Board ”) of a new share repurchase program (the “ 2026 Share Repurchase Program ”).

“The Board authorized this program because we do not believe today’s share price reflects the underlying value of this Company or the assets behind it,” said Lewis Black, Chairman, President and Chief Executive Officer of Almonty. “Almonty controls one of the largest and highest-grade tungsten deposits outside of China at precisely the moment Western governments and defense manufacturers are rebuilding their critical minerals supply chains around non-Chinese sources. With Sangdong advancing toward full capacity, we believe our own shares are one of the most attractive investments available to us at current market pricing, and repurchasing them is a direct way to build value for the shareholders who own this business alongside us.”

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The 2026 Share Repurchase Program will permit the purchase of up to 14,400,000 common shares (approximately five percent of Almonty’s outstanding shares as of August 14, 2026) for an aggregate purchase price of up to US$300,000,000 over the 36-month period commencing on August 24, 2026 and ending August 24, 2029. Purchases may be made on the open market through the facilities of the Nasdaq Stock Market (the “ Nasdaq ”) and/or alternative trading systems at market price, as well as by other means permitted by stock exchange rules and Canadian and U.S. securities laws, including the safe harbor provisions of Rule 10b-18 under the Securities Exchange Act of 1934 , as amended.

Almonty may enter into one or more automatic share purchase plans (each, a “ Rule 10b5-1 Plan ”) with a broker to permit Almonty to purchase common shares under its 2026 Share Repurchase Program during internal blackout periods. Such purchases would be at the discretion of the broker based on prearranged parameters. The Rule 10b5-1 Plans may be implemented from time to time during the course of the 2026 Share Repurchase Program. All purchases made under the Rule 10b5-1 Plans would be included in computing the number of common shares purchased under the 2026 Share Repurchase Program.

The actual number of common shares that may be purchased under the 2026 Share Repurchase Program and the timing of any such purchases will be determined by Almonty. The 2026 Share Repurchase Program may be amended, suspended or discontinued at any time, subject to applicable laws.

Almonty (NASDAQ: ALM) (ASX: AII) (Frankfurt: ALI1) is a leading supplier of conflict-free tungsten – a strategic metal critical to the defense and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armor, munitions, and electronics manufacturing.