SCHEDULE: Deutsche Rohstoff AG Boosts Almonty Stake to 10.2%

Deutsche Rohstoff AG has disclosed a 10.2% beneficial ownership stake in Almonty Industries Inc., comprising common shares and convertible notes.

Summary

• Deutsche Rohstoff AG has filed a Schedule 13G, reporting beneficial ownership of 23,983,026 Common Shares of Almonty Industries Inc.
• This ownership represents 10.2% of Almonty Industries Inc.'s class of securities.
• The total beneficially owned shares include 20,440,091 Common Shares (which comprise 1,662,745 CHESS Depositary Interests trading on the Australian Securities Exchange) and 3,542,935 Common Shares issuable upon the conversion of existing convertible notes or debentures.
• The percentage of class is calculated based on 231,442,570 Common Shares outstanding as of November 3, 2025, plus the 3,542,935 Common Shares convertible from notes held by Deutsche Rohstoff AG.
• Deutsche Rohstoff AG holds sole voting power and sole dispositive power over all 23,983,026 beneficially owned shares.

Sentiment

Score: 7

Explanation: The disclosure of a significant beneficial ownership stake by Deutsche Rohstoff AG in Almonty Industries Inc. suggests a vote of confidence from a strategic investor in the raw materials sector, which is generally a positive signal for the issuer.

Positives

• A significant 10.2% beneficial ownership stake by Deutsche Rohstoff AG, a German raw materials company, could be interpreted as a vote of confidence in Almonty Industries Inc.'s long-term prospects.
• The investment includes both direct common shares and convertible notes, indicating a strategic interest in the company's equity structure.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from Almonty Industries Inc. or Deutsche Rohstoff AG regarding future performance.

Management Comments

• Jan-Philipp Weitz, Chief Executive Officer of Deutsche Rohstoff AG, certified the information set forth in the statement.

Industry Context

Deutsche Rohstoff AG is a German company focused on raw materials, and Almonty Industries Inc. is a global tungsten producer. This significant investment by Deutsche Rohstoff AG suggests a strategic interest in the tungsten market or Almonty's specific assets, aligning with broader trends of consolidation or strategic partnerships within the raw materials sector.

Stakeholder Impact

• Shareholders of Almonty Industries Inc. may view this significant investment by Deutsche Rohstoff AG as a positive indicator of the company's value and future prospects, potentially leading to increased investor confidence.
• The presence of a large, strategic shareholder like Deutsche Rohstoff AG could influence future corporate strategy and governance at Almonty Industries Inc.

Key Dates

Recommendation

Deutsche Rohstoff AG's significant 10.2% beneficial ownership in Almonty Industries Inc., including common shares and convertible notes, signals a strategic investment and potential long-term interest from a key player in the raw materials sector. This could be viewed positively by the market, suggesting confidence in Almonty's future prospects, warranting a 'hold' recommendation for existing investors and a closer look for potential new investors.

Keywords

Almonty Industries Inc., Deutsche Rohstoff AG, Schedule 13G, beneficial ownership, common shares, convertible notes, SEC filing