Largo Secures US$82.2 Million Debt Restructuring, Extending Maturity to 2030

Largo and its subsidiary, Largo Vanádio de Maracás S.A. (" LVMSA "), have signed a binding term sheet to restructure approximately US$82.2 million of LVMSA's outstanding commercial bank debt, with LVMSA being the owner and operator of the Maracás Menchen Mine. The final maturities of the commercial bank debt have been extended from September 2026 to March 2030. The restructured debt includes a six-month principal amortization grace period, preserving near-term liquidity, followed by 36 months of quarterly principal amortization, with interest to be payable monthly. The principal amortization is better aligned with Largo's operational execution plans and cash generation potential, while providing additional time to unlock value from the Company's assets and pursue recently announced strategic alternatives to enhance shareholder value, including the strategic review of Largo's tungsten assets in Canada and Brazil.

Largo will host its Q2 2026 Earnings Results Webcast on Friday, August 21, 2026, at 9:00 a.m. ET to discuss the Company's second-quarter 2026 financial and operating results and recent developments.

Largo Inc. (TSX: LGO) (NASDAQ: LGO) (" Largo " or the " Company "), the world's largest primary vanadium producer, today announced that the Company and its Brazilian operating subsidiary, Largo Vanádio de Maracás S.A. (" LVMSA "), have entered into a binding term sheet with Banco do Brasil S.A., Banco BTG Pactual S.A., Banco Bradesco S.A., Banco Santander (Brasil) S.A., and Caixa Econômica Federal to restructure approximately US$82.2 million of outstanding debt, extending the final maturity to March 2030 (the " Restructuring ").

Under the proposed revised terms, principal payments will be subject to a six-month grace period, followed by 36 months of quarterly principal amortization, while interest will be payable monthly. The Restructuring provides Largo with additional time to execute its operational plans and unlock incremental value from its existing operations at the Maracás Menchen Mine. In particular, the Company is focused on ramping up copper-PGM concentrate production and progressing toward first commercial sales, as well as preparing for the first shipment of high-purity vanadium pentoxide to the U.S. Defense Logistics Agency under the US$60 million first order announced in July 2026.

Mr. Alberto Arias, Executive Chairman and Co-Chief Executive Officer of Largo, commented: " We appreciate the constructive engagement and continued support of Banco do Brasil, BTG Pactual, Bradesco, Santander, and Caixa Econômica Federal."

Mr. James Bannantine, Co-Chief Executive Officer of Largo, added: "The extension of our debt maturities from September 2026 to March 2030 gives the Company greater runway as we focus on improving operational performance and cash generation at the Company. We are focused on tariff-free high-purity vanadium sales, including to the Defense Logistic Agency, increasing revenues from the sale of copper, gold, platinum and palladium by-products and increasing operating efficiencies across the whole organization. Our priority now is to execute against these operational initiatives and build sustainable momentum across the business."

The Restructuring remains subject to the negotiation and execution of definitive documentation satisfactory to the parties including settling the interest rate, documenting the collateral package to be provided by Largo and LVMSA and satisfaction of customary closing conditions.

Q2 2026 Earnings Results Webconference Largo invites investors and analysts to join its Q2 2026 Earnings Results Webcast on Friday, August 21, 2026, at 9:00 a.m. ET. Management will discuss the Company's second-quarter 2026 financial and operating results and recent developments, followed by a question-and-answer session.