Mr. J. Alberto Arias reports

HELEN CAI JOINS LARGO'S BOARD OF DIRECTORS

Largo Inc. has appointed Helen Cai as an independent director to its board of directors; resigning is Koko Yamamoto.

Ms. Cai is a finance and investment professional with two decades of experience in capital markets and all aspects of corporate finance, from strategic planning to merger and acquisition (M&A) transactions. Ms. Cai is currently an independent director of Barrick Gold Corp. and most recently worked as a managing director with China International Capital Corp. until the spring of 2021. Prior to this, Ms. Cai worked as a research analyst with the Goldman Sachs Group covering American mining and technology sectors and was highly ranked by the StarMine analyst ranking service. As a lead research analyst at China International Capital Corp., Ms. Cai was ranked as best analyst by Institutional Investor and Asia Money in their China Research Sector Polls for multiple years when covering Hong Kong and Chinese listed companies. The landmark cross-border financing and M&A transactions she led subsequently as a senior investment banker also won various awards from Asia Money and The Asset. Ms. Cai is a chartered financial analyst and chartered alternative investment analyst and was educated at Tsinghua University in China and the Massachusetts Institute of Technology in the United States, where she received two masters degrees and multiple fellowship awards.

J. Alberto Arias, chairman of the board, stated: "On behalf of the board, I am very pleased to welcome Helen to the company who brings extensive knowledge of the metals and technology sectors, global financial markets, and particularly China, where she is currently based. With her addition, the board has gained an invaluable member with deep global strategic experience, specifically in China, which is by far the leading producer and consumer of vanadium. China is experiencing the fastest growth in vanadium flow battery deployments, which is expected to become a key catalyst and driver for future vanadium demand growth." He continued, "We also want to thank Koko for her contribution to Largo's board over the last eight years."

Ms. Cai commented: "I am thrilled to be joining Largo's board at this incredibly exciting time in the company's development. I look forward to collaborating with the board and management as the company advances its strategic growth plans to promote the use of vanadium and vanadium-based energy storage."

Ms. Yamamoto stated: "During my tenure as a director, I have enjoyed working with the management team at Largo to promote the use of vanadium and vanadium-based energy storage. As I step away and pursue other opportunities, I remain a supporter of the company and will continue to be a cheerleader for Largo, its ambitions and the contribution it is making to advance a low-carbon future."

About Largo Inc.

Largo has a long and successful history as one of the world's preferred vanadium companies through the supply of its Vpure and Vpure+ products, which are sourced from one of the world's highest-grade vanadium deposits at the company's Maracas Menchen mine in Brazil. Aiming to enhance value creation at Largo, the company is in the process of implementing an ilmenite concentration plant using feedstock sourced from its existing operations in addition to advancing its United States-based clean energy division with its Vcharge vanadium batteries. Largo's Vcharge vanadium batteries contain a variety of innovations, enabling an efficient, safe and environmental, social and governance aligned long-duration solution that is fully recyclable at the end of its 25-plus-year lifespan. Producing some of the world's highest-quality vanadium, Largo has a strategic business plan based on two pillars: (1) leading vanadium supplier with an outlined growth plan; and (2) United States-based energy storage business supporting a low-carbon future.