Andrew Wong

Gordon Lawson

Heiko Ihle

Michael Heim

- Largo reported **Q3 2025 revenue of €9.4 million**, a decrease from €10.5 million in Q3 2024.  **[1400438_f43e7c64879d4459a369403b667adc4a_0]** **[1400438_f43e7c64879d4459a369403b667adc4a_1]** 
- For the first half of 2025, revenue was **€14.5 million**, with operational profitability indicators remaining stable despite a slight decline in activity compared to H1 2024.  **[1400438_f43e7c64879d4459a369403b667adc4a_0]** 
- The company's **net result for H1 2025 was -€1.82 million**, comparable to -€1.81 million in H1 2024.  **[1400438_f43e7c64879d4459a369403b667adc4a_0]** 
- Largo's cash position stood at **€3.9 million as of June 30, 2025**.  **[1400438_f43e7c64879d4459a369403b667adc4a_0]** **[1400438_f43e7c64879d4459a369403b667adc4a_1]** 
- A strategic reorganization is underway to lower the break-even point, including **rationalizing the product range** and **reducing structural costs by over 10%**.  **[1400438_f43e7c64879d4459a369403b667adc4a_0]** **[1400438_f43e7c64879d4459a369403b667adc4a_1]**

Largo Announces H1 2025 Results and Q3 2025 Revenue

- Largo Inc. announced a registered direct offering and concurrent private placement to raise aggregate gross proceeds of **US$23.4 million**.  **[1400438_0001062993-25-016117_exhibit99-7.htm:0]** 
- The offering includes the sale of **14,262,309 common shares** at a purchase price of **US$1.22 per Common Share** and unregistered warrants to purchase up to **14,262,309 Common Shares** at an exercise price of **US$1.22 per Warrant**.  **[1400438_0001062993-25-016117_exhibit99-7.htm:0]** 
- Arias Resource Capital Fund III L.P., an affiliate of the company's largest shareholder, committed **US$6 million** to the private placement, which may include a **US$5 million** secured convertible bridge loan carrying a **12% per annum interest rate**.  **[1400438_0001062993-25-016117_exhibit99-7.htm:0]** 
- The proceeds from the ARC Bridge Loan will be used for **working capital until 2026**, while other proceeds will go towards payments to **Brazilian lenders**, the **mining contractor** at the Maracás Menchen Mine, and other key suppliers, addressing liquidity constraints that are negatively impacting mine production.  **[1400438_0001062993-25-016117_exhibit99-7.htm:0]** 
- The company has applied to the TSX for an exemption from certain requirements, citing a state of **serious financial difficulty**.  **[1400438_0001062993-25-016117_exhibit99-7.htm:1]**

Largo Inc. Announces US$23.4 Million Registered Direct Offering and Private Placement

- Largo Inc. has received an executed binding term sheet from five Brazilian lenders to **defer principal repayments** on **$84.2 million** of debt.  **[1400438_0001062993-25-015865_exhibit99-1.htm:0]** 
- The deferral extends principal repayments to **March 18, 2026**, with an automatic rollover to **September 18, 2026**.  **[1400438_0001062993-25-015865_exhibit99-1.htm:0]** 
- Key conditions for this deferral include Largo securing at least **C$30 million** in capital by **November 17, 2025**, and making a **$2 million** principal repayment.  **[1400438_0001062993-25-015865_exhibit99-1.htm:0]** 
- Additionally, Largo's subsidiary, LVMSA, will provide a **negative pledge** over its mining rights and equipment, and **80% of capital secured greater than C$30 million** will be used for further principal repayment to the banks.  **[1400438_0001062993-25-015865_exhibit99-1.htm:0]**

Largo Inc. Secures Debt Principal Payment Deferral

- Largo Inc. reported **sustained vanadium pentoxide production** of **931 tonnes** in August 2025 and **856 tonnes** in July 2025, while also commencing an ilmenite plant expansion targeting **115,000mt annual capacity** by year-end.  **[1400438_0001062993-25-015823_exhibit99-1.htm:0]** 
- The company is facing **significant liquidity issues** and **limited working capital**, which have resulted in delayed inventory release, affected payments to suppliers, and led to delayed or defaulted deliveries.  **[1400438_0001062993-25-015823_exhibit99-1.htm:0]** 
- **U.S. tariffs** on high purity vanadium imports from Brazil increased from 10% to **50%** effective August 6, 2025, further impacting sales contracts and contributing to delivery issues.  **[1400438_0001062993-25-015823_exhibit99-1.htm:0]** 
- Largo Inc. requires **additional financing** to address liabilities and support operations, with management stating there is **no assurance** that financing initiatives will be successful, timely, or sufficient, raising **going concern** concerns.  **[1400438_0001062993-25-015823_exhibit99-1.htm:1]**

Largo (LGO)