Mr. Alberto Arias reports

LARGO SECURES US$82.2 MILLION DEBT RESTRUCTURING, EXTENDING MATURITY TO 2030

Largo Inc. and its Brazilian operating subsidiary, Largo Vanadio de Maracas S.A. (LVMSA), have entered into a binding term sheet with Banco do Brasil S.A., Banco BTG Pactual S.A., Banco Bradesco S.A., Banco Santander (Brasil) S.A. and Caixa Economica Federal to restructure approximately $82.2-million (U.S.) of outstanding debt, extending the final maturity to March, 2030.

Under the proposed revised terms, principal payments will be subject to a six-month grace period, followed by 36 months of quarterly principal amortization, while interest will be payable monthly.

The restructuring provides Largo with additional time to execute its operational plans and unlock incremental value from its existing operations at the Maracas Menchen mine. In particular, the company is focused on ramping up copper-PGM (platinum group metal) concentrate production and progressing toward first commercial sales, as well as preparing for the first shipment of high-purity vanadium pentoxide to the U.S. Defense Logistics Agency under the $60-million (U.S.) first order announced in July, 2026.

Alberto Arias, executive chairman and co-chief executive officer of Largo, commented, "We appreciate the constructive engagement and continued support of Banco do Brasil, BTG Pactual, Bradesco, Santander and Caixa Economica Federal."

James Bannantine, co-chief executive officer of Largo, added: "The extension of our debt maturities from September, 2026, to March, 2030, gives the company greater runway as we focus on improving operational performance and cash generation at the company. We are focused on tariff-free high-purity vanadium sales, including to the Defense Logistic Agency, increasing revenues from the sale of copper, gold, platinum and palladium byproducts, and increasing operating efficiencies across the whole organization. Our priority now is to execute against these operational initiatives and build sustainable momentum across the business."

The restructuring remains subject to the negotiation and execution of definitive documentation satisfactory to the parties, including settling the interest rate, documenting the collateral package to be provided by Largo and LVMSA, and satisfaction of customary closing conditions.

Q2 (second quarter) 2026 earnings results webcast

Largo invites investors and analysts to join its Q2 2026 earnings results webcast on Friday, Aug. 21, 2026, at 9 a.m. ET. Management will discuss the company's second quarter 2026 financial and operating results and recent developments, followed by a question-and-answer session. The webcast can be accessed through the presentations and events section of Largo's website.

About Largo Inc.

Largo is the world's largest primary vanadium producer and a globally recognized supplier of high-quality vanadium products, sourced from its world-class Maracas Menchen mine in Brazil. Largo produces critical materials that empower global industries, including steel, aerospace, defence, chemical and energy storage sectors. The company is committed to operational excellence and sustainability, leveraging its vertical integration to ensure reliable supply and quality for its customers.

Largo is also strategically invested in the clean energy storage sector through its 37.4-per-cent ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic electrolyte production for utility-scale vanadium flow battery long-duration energy storage solutions in the United States.

The company also holds a 100-per-cent interest in the Northern Dancer tungsten-molybdenum property, located in Yukon, Canada, and a 100-per-cent interest in the Currais Novos tungsten project near Natal, Brazil. Preliminary economic assessments were completed for each asset in 2011.

Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol LGO.

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