Largo Inc T.LGO

Revised 2021 production and sales guidance

[kha341]

"Production guidance lowered to 11,400 to 11,800 tonnes of V2O5 equivalent from 12,000 to 12,500 tonnes; Sales guidance lowered to 11,200 to 11,800 tonnes of V2O5 equivalent from 12,250 to 12,750 tonnes"

Lowering the annual Sales Guidance by 1,000T or ~2.2M pounds = Decreasing the expected annual Sales Revenue by 8% or ~US$20M assuming the average revenue per pound = US$9 ( = US$9 x 2.2M pounds)

[kha341]

Actual Q1-21 Sales Volume = 2,783T (6,135,000 lbs) Actual Q2-21 Sales Volume = 3,027T (6,673,000 lbs) Actual Q3-21 Sales Volume = 2,685T (5,919,000 lbs) Total 9-mth Sales Volume = 8,495T (18,728,000 lbs) Revised 2021 Sales Guidance = 11,200T to 11,800T (24,692,000 lbs to 26,015,000 lbs) Expected Q4-21 Sales Volume = 2,705T to 3,305T (5,964,000 lbs to 7,286,000 lbs)

[kha341]

Total 9-mth Production Volume = 8,316T (Q1 1,986T + Q2 3,070 + Q3 3,260) Revised 2021 Production Guidance = 11,400T to 11,800T (= ~5% lower than the original guidance) Expected Q4-21 Sales Volume = 3,084T to 3,484T Paulo Misk: “The strong production performance during the quarter was largely driven by increased throughput and improved recoveries following the completion of the Company’s

[kha341]

 Should read "Expected Q4-21 Production Volume = 3,084T to 3,484T"