The half-life is based on a 50% probability that an atom will decay within the given time period. A half life of one year means that each atom of the substance has a 50% chance of decaying during the first year and a 50% chance of not decaying during this time. If you take a block of substance (a large quantity of atoms) then it will have decayed by approximately 50% after a year since statistically approximately half of its atoms will have decayed and half will have remained radioactive.
But if you take a single atom, say the last remaining radioactive one in an almost-fully decayed block, then it could decay within a year but not necessarily. If it has not decayed at the end of the year then it continues to have a 50% chance of decaying in the following year, or not. Same thing for the year after that. This gives you an increasing probability of decay as you consider longer and longer time periods: 50% for 1 year, 75% for 2 years, 87.5% for 3 years, and so on. There is a calculable possibility that this last atom will not decay for a million years or more. Just don't bet on it.