Mr. Daniel Tellechea reports

LARGO ANNOUNCES $6 MILLION SECURED LOAN TO SUPPORT WORKING CAPITAL

Largo Inc. has entered into a secured loan by way of a promissory note with ARG International AG for a principal amount of $6-million (U.S.) ($8.25-million (Canadian)). The note is expected to provide near-term working capital support as the company transitions from turnaround execution to steady-state operations amidst continued pressure from low vanadium prices.

The note is secured against the company's equity interest in Largo Physical Vanadium Corp., in which the company holds a 65.7-per-cent majority stake. The note has a term of six months, bears interest at an annualized rate of 15 per cent and includes a 1-per-cent arrangement fee. Proceeds from the note are intended to strengthen the company's liquidity position and provide flexibility to continue execution on its plan to improve operations during a sustained weakness in vanadium prices.

Daniel Tellechea, interim chief executive officer of Largo, stated: "This loan strengthens our working capital position at a time when our operations have stabilized but market pricing conditions remain challenging. We've made meaningful progress on production and cost-efficiencies, and this facility is expected to provide some flexibility to manage through current price pressures while continuing to focus on meeting our set targets for the year."

An early warning report will be electronically filed on and made available under the company's respective profiles on SEDAR+ and EDGAR. A copy of the early warning report can also be obtained by contacting the company's investor relations contact.

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 strategically 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.

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

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