Largo secures environmental permit for GAN open pit vanadium-copper-gold-PGM mine development

Largo Inc., the world's largest primary vanadium producer, has announced that the Instituto do Meio Ambiente e Recursos Hídricos of the State of Bahia, Brazil ("INEMA") has granted the environmental permit for the development of the Gul?ari A Norte ("GAN") pit and its associated infrastructure. This includes a new waste rock stockpile, a calcined tailings facility, an expansion of the Dry Mag (low-grade dry magnetic ore) stockpile, access roads, and operational support areas.

The approval marks a significant milestone in strengthening the long-term fundamentals, operational resilience, and sustainability of Largo's Maracás Menchen Mine, while supporting the Company's capacity to execute its current 31-year mine plan.

The proposed GAN open pit mine is located immediately north of the Campbell open pit mine, which has served as the sole source of Largo's vanadium production since operations began 12 years ago.

Developing a second open pit mine is expected to extend production for multiple years, optimize mining plans, enhance operating flexibility, and reduce operating risks by diversifying ore sources for the ore processing facilities located near both mines.

The GAN deposit also contains copper, gold, and platinum group metals ("PGMs") within its mineralized zones, similar to the Campbell open pit mine, which successfully commenced production of copper, gold, and PGMs as by-products in August 2026.

GAN is one of five open pits within Largo's Maracás Menchen portfolio, which encompasses a resource base with the potential to sustain more than 30 years of production at current rates.