Mr. Alex Guthrie reports

LARGO ANNOUNCES $10 MILLION FACTORING FACILITY TO ACCELERATE RECEIVABLES AND SUPPORT WORKING CAPITAL

Largo Inc.'s wholly owned subsidiary, Largo Resources USA (LUSA), has entered into a non-recourse factoring facility dated June 10, 2025, with a well-established third party factoring company for the sale of certain accounts receivable.

Under the terms of the facility, LUSA may sell eligible accounts receivable to the factor for receipts of up to $10-million. The factor will advance 85 per cent of the invoice value, with commission rates ranging from 0.51 per cent for invoices up to 30 days, to 1.37 per cent for those up to 90 days, depending on customer payment terms. All factored invoices are on a non-recourse basis, with the factor assuming credit risk. The company is working with the factor to establish similar receivables purchase facilities for Largo and Largo Commodities Trading Ltd., which is expected to increase the overall size of the facility, subject to the inclusion of additional customers and credit approvals. The facility has an initial term of two years, and the factor may terminate it with 90 days of prior written notice or immediately in the event of default.

Daniel Tellechea, interim chief executive officer of Largo, stated: "This facility allows us to access liquidity more quickly by monetizing receivables tied to vanadium shipments, which can take between 30 and 90 days to convert to cash. Improving working capital efficiency is a necessary step as we work through our operational turnaround plan." He continued, "This facility is expected to better align cash inflows with expenditures and ensures we have additional flexibility to support day-to-day operations while continuing our efforts to stabilize production and improve sales."

Cirque Capital Inc. acted as the company's financial adviser and arranger in connection with the facility, and will receive certain custodial fees pursuant to the terms of the facility.

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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