Almonty Expands Sangdong Tungsten Offtake Agreement with Global Tungsten & Powders to US$490 Million in Contracted Annual Revenue at Current APT Pricing

About this update from Almonty Industries Inc.

Amendment Extends Offtake Term from 15 to 21 Years and Increases Total Contracted Volume by 40% to 4.41 Million MTU at Significantly Improved Pricing Terms DILLON, Mont., July 14, 2026 --( BUSINESS WIRE )--Almonty Industries Inc. ("Almonty" or the "Company") (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1) , a leading global producer of tungsten concentrate, today announced that it has entered into an amendment (the "Amendment") to its long-term offtake agreement (the "Agreement") with Global Tungsten & Powders LLC ("GTP"), a member of Austria's Plansee Group, covering tungsten concentrate produced from Phase I of the Company's Sangdong Mine in South Korea. The Amendment extends the term of the Agreement by six years, increases total contracted volumes by 40% and improves the pricing payable to Almonty on all contracted volumes by approximately 6.3%. Amendment Highlights The Agreement covers approximately 90% of Phase I tungsten concentrate production from the Sangdong Mine. The Amendment follows the commencement of processing plant throughput operations at Sangdong, announced on July 1, 2026, as the mine ramps toward full Phase I capacity. The Agreement relates solely to Phase I production at Sangdong. It does not cover the Company's planned Phase II expansion, which is anticipated to roughly double the mine's annual processing capacity, or production from Almonty's other operations. As a result, the amended Agreement is expected to represent only a portion of Almonty's total production and revenue potential over time. GTP, headquartered in Towanda, Pennsylvania, is one of the largest Western producers of tungsten powders and a key supplier into U.S. defense and industrial supply chains. With tungsten prices at historic highs following successive export restrictions imposed by China, the Amendment secures an expanded, U.S.-delivered supply of conflict-free tungsten concentrate for more than two decades.

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