Largo (LGO) investor relations material

Company overview and business model

• Operates as a leading global supplier of high-quality vanadium products, primarily from the Maracás Menchen Mine in Brazil, serving steel, aerospace, defense, chemical, and energy storage sectors.

• Vertically integrated, focusing on operational excellence, sustainability, and reliable supply for customers.

• Expanding revenue streams through ilmenite concentrate sales and exploring TiO2 pigment production; completed Ilmenite Plant construction in July 2023.

• Holds a 50% stake in Storion Energy LLC, targeting utility-scale vanadium flow battery solutions in the U.S.

• Additional non-operational projects in Brazil and Canada are not considered material.

Financial performance and metrics

• Issued 16,567,427 Common Shares under the ATM Program since the last annual financial statements, representing about 19.8% of total shares as of December 31, 2025.

• ATM Program allows issuance of up to US$60 million in Common Shares on Nasdaq.

• Financial statements are prepared in accordance with IFRS.

• Non-GAAP financial measures such as adjusted EBITDA and cash operating costs are used for performance evaluation.

Use of proceeds and capital allocation

• Net proceeds from securities sales may be used for debt repayment, capital expenditures, and general corporate purposes.

• Management retains broad discretion over allocation of proceeds, which may be reallocated as needed.

• No proceeds will be received from sales by selling securityholders.