Largo Starts Production of Copper and Platinum Group Metals as By-Products of Vanadium Operations Following Mining Agency Approval

Key Highlights: * Approval of Brazil's National Mining Agency ("ANM") allows Largo to produce and sell copper concentrates with platinum group metals ("PGM") from its Maracás Menchen mine in addition to vanadium, titanium and iron. * Industrial-scale flotation tests at Largo's operations this year demonstrated the potential technical and commercial viability of recovering commercial-grade copper-PGM concentrates with platinum, gold, palladium, silver, cobalt and nickel. * Largo is commencing the ramp-up of copper-PGM concentrate production and temporarily suspending ilmenite (titanium) concentrate production to maximize copper-PGM output. Copper-PGM concentrate production uses the existing ilmenite flotation infrastructure. * Largo expects copper-PGM concentrate production, if successfully ramped up and commercialized, to generate higher profit margins than from ilmenite. * The Company plans to evaluate additional equipment requirements to produce ilmenite concentrates from the copper concentrate flotation tailings in the next few months in collaboration with key ilmenite customers. * Largo is discussing commercial terms for a potential first shipment of copper-PGM concentrates with smelters and traders. * The Company expects to provide guidance for copper-PGM concentrate production and sales with its quarterly earnings report scheduled for August 14, 2026 as it advances the ramp-up to full scale copper-PGM by-product production.