Lithium Americas Corp. · NYSE:LAC
Lithium Americas — Bank of America Global Agriculture and Materials Conference 2026
17 slides from Lithium Americas's conference presentation, Feb 26, 2026
Slide 1: Building Thacker Pass to Deliver U.S.-Produced Battery-Quality Lithium Capacity
TSX & NYSE: LAC Building Thacker Pass to Deliver U.S.-Produced Battery-Quality Lithium Capacity BANK OF AMERICA FEBRUARY 2026 JONATHAN EVANS, PRESIDENT & CEO 1 1
Slide 2: Disclaimer
Disclaimer ADDITIONAL REFERENCE MATERIALS securities at this time and cannot accept orders for any in isolation or as a substitute for measures prepared in 1300 of Regulation S- K (“S-K 1300”). Further information This presentation should be read in conjunction with materials securities at this time
Slide 3: Why Invest in Lithium Americas?
Why Invest in Lithium Americas? LARGEST PROJECT IN THE U.S. INCREASING U.S. CAPACITY BY 7X (2) building near-term lithium capacity strengthening America’s energy security Targeting mechanical Thacker Pass Phase 1 is Phase 1 battery-quality lithium World’s largest known permitted, declared completion
Slide 4: What Differentiates Thacker Pass?
What Differentiates Thacker Pass? OREGON McDe rmitt IDAHO Denio Phase 1 mechanical completion in late-2027 Caldera McDermitt at world’s largest known measured lithium resource Thacker Pass McDermitt Orovada Largest vertically integrated lithium project in the U.S. Winnemucca near-term production wit
Slide 5: Operating Costs – Competitive in a Downturn
Operating Costs – Competitive in a Downturn Thacker Pass AISC OPEX (Production Scenario (Years 1-25))(3)(4) 20,000 Current Lithium Carbonate Avg. Price $18,100/ t(6) 18,000 (Fastmarkets month to date avg. as of Feb 17/26) Low C1 and AISC 16,000 OPEX would have 14,000 enabled Thacker Pass to remain p
Slide 6: Aerial of Thacker Pass Phase 1 Processing Plant Area
Aerial of Thacker Pass Phase 1 Processing Plant Area Beneficiation Q4 2025 Project and ROM Stockpile Construction Filtration Building Scale of plant pad Highlights(1) ~1,100 ft x ~3,100 ft CCD Circuit ✓ Detailed engineering Turbine Generator design complete achieved 93%, while Sulfuric Acid Plant pr
Slide 7: Overall Construction Activity as of Late January 2026
Overall Construction Activity as of Late January 2026 7
Slide 8: Processing Plant Progress
Processing Plant Progress Completed central pedestals for the CCD Thickener Air receivers were safely A large, tank foundation in the Water Systems area lowered into the Filter Building Insulation installation at the Liquid Sulfur Pit Foundation work for the site temporary warehouse 8
Slide 9: Steel and Concrete
Steel and Concrete Pouring the concrete floor at the Filtration Building Strong Acid Towers beginning to take shape Concrete and formwork at the future site of the steam turbine generator The first pipe rack module arrived at Thacker Pass for installation 9
Slide 10: Long-Lead Equipment Fabrication, Enroute to Thacker Pass
Long-Lead Equipment Fabrication, Enroute to Thacker Pass Duplex Plant Stack Steam Turbine Generator Turbine Housing Cold Interpass Heat Exchanger 10
Slide 11: Taking Care of Our Workforce and the Community
Taking Care of Our Workforce and the Community First residents moved in late Sept 2025; now nearly 600 residents The Workforce Hub is completed and welcoming residents in phases Nutritional meals made daily by Target Hospitality 11
Slide 12: Thacker Pass Phase 1 Funded for Construction
Thacker Pass Phase 1 Funded for Construction First Draw of $435 million on the DOE Loan accelerates major construction at Thacker Pass $2.23 Billion $945 Million Total Investment $250 Million Strategic U.S. DOE ATVM Loan(1) and 38% JV(4) Investment(6) Project financing at the risk-free rate 38% asse
Slide 13: 2026 Guidance and Development Milestones
2026 Guidance and Development Milestones 2026 Capital Expenditure Guidance(1) Thacker Pass Phase 1 construction costs (2)(3) $1.2 - $1.5 billion Other capitalized development costs for Thacker Pass (4) $30 - $40 million Capitalized interest on the DOE loan $45 - $55 million Total $1.3 - $1.6 billion
Slide 14: Clear Path to Mechanical Completion in Late 2027
Clear Path to Mechanical Completion in Late 2027 2007+ Early construction commenced Long-term Feb 2023 Q2 2025 2026 Late 2027 2028 offtake with GM for up to 100% of Phase 1 for 20 years FID for Major construction, Mechanical Ramp up to Phase 1 delivery of long-lead completion full production 2028+ e
Slide 15: LAC
LAC CONTACT INFORMATION NYSE & TSX Virginia (Ginny) Morgan VP, Investor Relations and ESG Icon A black letter f in info@lithiumamericas.com Description automatically a white circle www.lithiumamericas.com @LithiumAmericas
Slide 16: End Notes
End Notes Why Invest in Lithium Americas? the Company’s news release of Mar 6, 2025 and Apr 1, 2025 for more construction supply chain, with approximately 75% of the total capital details. project cost structure related to labor, contractors and other services not (1) For more details, see the Compa
Slide 17: Forward-Looking Statements and Information
Forward-Looking Statements and Information This presentation contains “forward-looking information” within the meaning of applicable payback period, sensitivity analyses, EBITDA, OPEX, net cash flows and life of mine; workforce housing facility; the stable and supportive legislative, regulatory and
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