Slide 1: Building a Leading, Scalable Lithium Platform in Argentina
LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE &NYSE TSX: & TSX: LAR LAR Building a Leading, Scalable Lithium Platform in Argentina PPG Scoping Study and Q3 2025 Results November 10, 2025 Pozuelos Salar, Salta, Argentina
Slide 2: Disclaimer
2 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR Disclaimer ADDITIONAL REFERE NCE MATERIALS This pre sen tation should be rea d in conjunction with Lithium Arg entina AG (“L ithiu m Arg entina”, “LA R” or the “Company”) news rele ase s, reg arding the Company’s cash bala nce , pr
Slide 3: Disclaimer (Cont.)
3 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR Disclaimer (Cont.) All forward-looking information contained in this pre sen tation is expressly qua lified by the risk factor s set out in the latest Disclosure THIRD-PARTY NAMES AND TRADEMARKS Documents. Such risks include, but a
Slide 4: Agenda
4 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR Agenda 1 Q3 2025 Results 2 Update on Cauchari-Olaroz Sam Pigott Wang Xiaoshen CEO - Lithium Argentina CEO - Ganfeng Group 3 Vision for Argentina 4 PPG Scoping Study Results Carlos Galli Jason Luo VP Growth Innovation - Lithium Arge
Slide 5: Q3 2025: Highlights
5 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR Q3 2025: Highlights Continuing to optimize Stage 1 production at higher volumes Cauchari-Olaroz Operating and Financial Results Cauchari-Olaroz Production Profile1 Tonnes of LCE per quarter Annual 3Q2025 2Q2025 QoQ Production 8,500
Slide 6: Proven Partnership
6 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR Proven Partnership Leveraging our track record from Stage 1 of Cauchari-Olaroz Cauchari-Olaroz Production Profile(1) tonnes per month, quarterly % capacity 75 – 87.5% (2025 Guidance) 3,000 Chemical plant complete 68% 56% 2,000 45%
Slide 7: A Platform for Growth in Argentina
7 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR A Platform for Growth in Argentina Building scale through regional growth and innovation Growth Pipeline in Argentina GFL / LAR Joint Ownership tpa of LCE capacity GFL Ownership Incorporating new processing technologies 50 ktpa +25
Slide 8: PPG – Creating a Leading Scalable Lithium Platform in Argentina
8 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Creating a Leading Scalable Lithium Platform in Argentina Integrating the Pozuelos-Pastos Grandes Basins Pozuelos Pastos-Grandes (PPG) Caucha ri-Olaroz Plant ▪ Strategic Consolidation Sala r d el Rincon Cauchari-Ola roz ▪ New
Slide 9: PPG – Scoping Study Results
9 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Scoping Study Results Robust returns at conservative price assumptions PPG Price Sensitivity Pozuelos Pastos-Grandes (PPG) $20 100% After-tax NPV Capacity Stage 1: 50,000 tpa LCE Full Project: 150,000 tpa LCE After-tax IRR (%
Slide 10: PPG – Lithium Supply Price Assumptions
10 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Lithium Supply Price Assumptions Higher pricing needed to support supply growth and meet rising demand Lithium Supply - Incentive Price Possible, probable and idle capacity ranked by LT incentive price to support 15% IRR $50
Slide 11: PPG – RIGI Application and Investment Framework
11 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – RIGI Application and Investment Framework Over $33B in new investment applied or approved under RIGI RIGI Investments Salta Benefits under RIGI $2.7 B Catamarca Lithium 25% 0% $3.8 B $200 M Santa Fe Copper Corporate Tax Rate
Slide 12: PPG – Operating and Capital Costs
12 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Operating and Capital Costs Leveraging Ganfeng’s processing expertise and high-quality resources to drive low costs Capital Costs(1) Operating Costs(2) VAT Others Contingency Owner costs 4% 3% Wells/Ponds Reagents G&A Costs
Slide 13: PPG – Resource Update
13 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Resource Update Extensive drilling and geophysics define one of Argentina’s largest integrated lithium brine resources Resource Pozuelos Pastos Grandes Subtotal LCE Category (Mt) • Drilling across 104 exploration wells in bo
Slide 14: PPG – Resource Scale
14 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Resource Scale Significant resource scale underpins PPG economics and expansion potential South American Lithium Brine Resources M&I by Salar / Basin 60 LAR & GFL JVs ABL 50 Other Companies 40 RIO 30 Pozuelos camp SQM 20 Cau
Slide 15: PPG – Advancing Processing Technology
15 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Advancing Processing Technology Integrating new hybrid DLE technologies to enhance efficiency Proposed Hybrid Cauchari-Olaroz DLE Process Current Process Pre-concentration Pre-concentration ponds ponds Acidification Liming T
Slide 16: PPG – Phased Development Approach
16 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Phased Development Approach Phased expansions built around a centralized processing facility PPG Production Plan(1) Phased Development Flow Sheet Tonnes of LCE 150,000 125,000 100,000 75,000 50,000 25,000 - 2031 2032 2033 20
Slide 17: PPG – Path to Execution
17 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Path to Execution Disciplined approach to growth focused on de-risking development plan PPG Project Schedule Deadline 2025 2026 2027 2028 2029 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 Jun-26 Jul-26 H2-2026 Project sc
Slide 18: PPG – Advancing Toward the Next Phase of Growth
18 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR PPG – Advancing Toward the Next Phase of Growth Defining a clear path to scalable, low-cost production and long-term growth Next Steps ▪ Submit RIGI applications – expected to apply in H1 2026 ▪ Continued community engagement – in
Slide 19: References
19 LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & TSX: LAR References Slide 11 Company Reference Material Rio Tinto (Sales de Jujuy) Effective June 30, 2023 Technical Report Rio Tinto (Cauchari/Advantage) 2024 MRE in 10-K Form Exar (Cauchari-Olaroz) January 2025 Technical Report Lithium E
Slide 20: Contact Information
LITHIUM ARGENTINA / PPG Scoping Study Presentation NYSE & NYSE &NYSE TSX: TSX: LAR & TSX: LAR LAR Contact Information Kelly O'Brien VP Investor Relations & ESG Kelly.OBrien@lithium-argentina.com www.lithium-argentina.com @Lithium_ARG