Andrew Wong

Gordon Lawson

Heiko Ihle

Michael Heim

- 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)