Mr. Alex Guthrie reports

LARGO REPORTS FATALITY FOLLOWING INJURIES SUSTAINED AT ITS MARACAS MENCHEN MINE CHEMICAL PLANT

Largo Inc. has recorded an employee fatality as a result of an accident that occurred on Thursday, July 13, 2023, at the chemical plant of the company's Maracas Menchen mine, located in Bahia state, Brazil. The injured party was transported to local medical facilities in Jequie, Bahia state, where, after receiving medical attention, he was pronounced deceased. One other contractor involved in the incident suffered minor injuries and has been discharged from the hospital. Largo immediately launched an investigation into how this tragedy occurred and is working with local authorities to determine the cause.

Largo extends its sincerest sympathy to the family, friends and co-workers of the deceased. Over the course of its nine-year history, Largo has maintained an excellent safety record through the use of rigorous precautionary methods and preventive measures. The health and safety of the company's work force remain a top priority, and it is focused on ensuring that the entire team is receiving the needed support during this difficult time.

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) a leading vanadium supplier with an outlined growth plan; and (2) a United States-based energy storage business to support a low carbon future.

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