Lithium Americas (LAC) June 2025 Thacker Pass Site Tour Presentation summary

Project overview and investment highlights

• Thacker Pass Phase 1 is fully permitted, funded, and under construction, targeting completion in late 2027 with a nominal production capacity of 40,000 t/y battery-quality lithium carbonate and expansion potential to 160,000 t/y over five phases and an 85-year mine life.

• The project is a joint venture: 62% owned by the company and 38% by General Motors, with GM holding offtake rights for up to 100% of Phase 1 and 38% of Phase 2 for 20 years.

• Funding includes a $2.26 billion U.S. DOE loan at the Treasury rate, $945 million from GM, and $250 million from Orion Resource Partners, with additional non-binding proposals for Phase 2 financing.

• Thacker Pass is the world’s largest known measured lithium resource and reserve, with a top-tier leadership team experienced in large-scale project development.

• The project is strategically located in Nevada, with access to highways, rail, water rights, and a dedicated workforce hub.

Project execution and construction progress

• Approximately 60% of detailed engineering is complete, with all long-lead equipment awarded and first permanent concrete placed in May 2025.

• The workforce hub in Winnemucca will provide housing for up to 1,997 workers, with first occupancy expected in the second half of 2025.

• Major construction milestones include early works, infrastructure, and process plant pad completion, with mechanical completion and initial production targeted for late 2027.

• The project is de-risked through advanced procurement, detailed engineering, and a proven technical flowsheet validated at the Lithium Technical Development Center.

• Collaboration with leading contractors such as Bechtel and Sawtooth Mining ensures expertise in design, construction, and reclamation.

Technical process and sustainability

• The process uses standard, proven equipment for beneficiation, hydrometallurgy, and lithium carbonate production, with no novel technology required.

• Onsite sulfuric acid production provides 40% of the plant’s power needs, with the remainder from hydroelectric sources.

• Water is recycled an average of seven times, and a zero liquid discharge system eliminates process water release to the environment.

• All waste is stored in a double-lined dry stack facility, reclaimed concurrently with mining to minimize environmental impact.

• The project has achieved ISO 9001:2015 certification and implements a comprehensive ESG and safety program, including community agreements and local hiring.