Lithium Americas (LAC) Corporate Presentation summary

Investment highlights

• Thacker Pass Phase 1 is fully permitted, with construction funding substantially de-risked and positioned as a near-term U.S. lithium source.

• General Motors has made a $650 million strategic investment and secured exclusive offtake for Phase 1, with a right of first offer on Phase 2.

• U.S. Department of Energy has provided a $2.26 billion ATVM Loan Conditional Commitment, offering highly attractive terms.

• Thacker Pass features unique high-grade sedimentary geology and significant location benefits, including access to infrastructure and water rights.

• The project is supported by a proven processing flowsheet, a state-of-the-art technical development center, and a multifaceted ESG approach.

Thacker Pass project overview

• Thacker Pass is one of the largest measured and indicated lithium resources in the U.S., with a 40-year project life and ~40,000 tpa lithium carbonate capacity in Phase 1.

• Located in a mining-friendly jurisdiction, all major permits for construction have been received, and site preparation is complete.

• Project execution is de-risked through early works completion, increased engineering, and robust procurement planning.

• Updated Phase 1 CAPEX estimate is $2.93 billion, reflecting higher engineering, union labor, and increased contingency.

• Funding is expected to be covered by the DOE loan, GM investment, and cash on hand.

Strategic partnerships and government support

• General Motors' investment is split into two tranches, with an offtake agreement for 100% of Phase 1 production for 10 years and a 5-year extension option.

• Lithium from Thacker Pass will be used in GM's Ultium battery cells, supporting U.S. EV supply chain and IRA compliance.

• The DOE ATVM loan features a 24-year tenor, U.S. Treasury rate interest, and covers construction and accrued interest.

• Thacker Pass is recognized as a critical mineral project, reducing U.S. dependency on foreign lithium supply.