Lithium Americas (LAC) Corporate Presentation summary

Investment highlights and strategic partnerships

• Thacker Pass Phase 1 is fully permitted and under construction, aiming to be a near-term U.S. lithium source.

• Secured a $2.3 billion U.S. DOE ATVM Loan and a major joint venture with General Motors, including exclusive offtake for Phase 1.

• GM's $625 million investment and letters of credit, combined with the DOE loan, substantially de-risk project funding.

• Thacker Pass features unique high-grade geology, strong location benefits, and a proven processing flowsheet.

• Multifaceted ESG approach and robust stakeholder support, including a Community Benefits Agreement with the Fort McDermitt Paiute and Shoshone Tribe.

Thacker Pass project overview and progress

• Thacker Pass is one of the largest measured and indicated lithium resources in the U.S., with a 40-year project life.

• Phase 1 targets 40,000 tpa of battery-grade lithium carbonate, with Phase 2 doubling capacity to 80,000 tpa.

• Major construction permits received; early works and detailed engineering are advancing, with 50% of plant excavation complete.

• Project execution is de-risked through proven technology, experienced contractors, and a strong management team.

• First production is targeted for 2027, with a clear path to major construction by year-end 2024.

Financial structure and funding

• DOE ATVM Loan provides $2.26 billion at U.S. Treasury rates, with a 24-year tenor and capitalized interest during construction.

• GM's JV investment includes $430 million direct funding and a $195 million LC Facility, replacing a prior $330 million commitment.

• LAC retains 62% ownership in Thacker Pass, with GM holding 38%; LAC's funding requirement into the JV is $412 million as of September 2024.

• Total Phase 1 CAPEX is estimated at $2.93 billion, reflecting increased engineering, labor agreements, and contingencies.

• The transaction structure avoids significant equity dilution for LAC shareholders and is accretive on a NAVPS basis.