An anonymous director reports

LARGO ANNOUNCES US$60 MILLION AT-THE-MARKET EQUITY OFFERING PROGRAM

Largo Inc. has established an at-the-market equity offering program, pursuant to which the company may issue and sell common shares having aggregate gross proceeds of up to $60-million (U.S.) from time to time on the Nasdaq Stock Market.

Sales of common shares under the ATM program, if any, will be made through H.C. Wainwright & Co. LLC, acting as the sole sales agent, at prevailing market prices at the time of sale, subject to market conditions and in accordance with applicable securities laws. Largo is not obligated to sell all or any shares under the ATM program and may suspend or terminate the program at any time.

The ATM program provides the company with additional financial flexibility and allows Largo to access the capital markets opportunistically, subject to market conditions. Largo intends to use net proceeds from the ATM program for working capital and general corporate purposes.

The ATM program will be conducted pursuant to a prospectus supplement and an accompanying base shelf prospectus filed with the U.S. Securities and Exchange Commission (SEC). No sale of common shares under the ATM program will be made in Canada or over or through the facilities of the Toronto Stock Exchange or any other exchange or market in Canada.

The company has filed a registration statement on Form F-3 (File No. 333-291472), including a base shelf prospectus and a prospectus supplement with the SEC relating to the ATM program. Prospective investors should refer to the registration statement and read the prospectus supplement and prospectus, together with the documents incorporated by reference, for more complete information about the company and the ATM program. Copies of the prospectus supplement and the accompanying prospectus relating to these securities are available on the SEC's website or may be obtained from H.C. Wainwright & Co. at 430 Park Ave., third floor, New York, N.Y., 10022, or by telephone at 212-356-0500.

About Largo Inc.

Largo is a globally recognized supplier of high-quality vanadium and ilmenite products, sourced from its world-class Maracas Menchen mine in Brazil. As one of the world's largest primary vanadium producers, 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 invested in the long-duration energy storage sector through its 50-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 tailing project near Natale, Brazil. Preliminary economic assessments were completed for each asset in 2011.

We seek Safe Harbor.