Lithium Americas Corp. · NYSE:LAC
Lithium Americas — Investor Presentation (March 2025)
36 slides from Lithium Americas's investor presentation, March 2025
Slide 1: Driving Toward Production in 2027
NYSE and TSX: LAC Driving Toward Production in 2027 March 2025 1
Slide 2: Disclaimer
Disclaimer ADDITIONAL REFERENCE MATERIALS securities at this time and cannot accept orders for any additional information to the user and should not be considered person under National Instrument 43-101 Standards of This presentation should be read in conjunction with materials securities at this ti
Slide 3: Why Invest in Lithium Americas?
Why Invest in Lithium Americas? OREGON McDermitt IDAHO Denio Caldera McDermitt Thacker Pass Highlights 1 U.S.-PRODUCED LITHIUM Thacker Pass Phase 1 permitted and in construction – a near-term source of U.S.- Large lithium Resource (M&I) McDermitt produced lithium; targeting completion in late 2027 a
Slide 4: Track Record of Executing Key Milestones
Track Record of Executing Key Milestones Thacker Pass: approx. 20 years from discovery and exploration to construction, targeting production in late 2027 Discovery and Bureau of Land Community Benefits GM Joint Venture GM Acquired 38% of Orion Resource Exploration Management (BLM) Agreement with the
Slide 5: DOE Loan Closed: Project Financing at the Risk-Free Rate
DOE Loan Closed: Project Financing at the Risk-Free Rate Advanced Technology Vehicles Manufacturing (ATVM) Loan from the U.S. Department of Energy(1)(2) Highly attractive terms across all metrics Quantum: $2.26 billion Principal: $1.97 billion Capitalized interest during construction: $290 million(3
Slide 6: LAC-GM Thacker Pass Joint Venture
LAC-GM Thacker Pass Joint Venture GM contributed combined $625 million of cash and letters of credit for a 38% asset-level ownership stake in Thacker Pass(1) • $430 million of direct cash funding and a $195 million LC Facility(2) Underscores the strategic importance of Thacker Pass • GM’s total
Slide 7: Establishing a Long-Term Partnership with Orion
Establishing a Long-Term Partnership with Orion Orion Resource Partners (Orion) is a global alternative investment firm Entity Structure Overview of Lithium Americas dedicated to metals and materials. Orion provides comprehensive and tailored solutions for the construction or acquisition of energy t
Slide 8: Strategic Rationale for Partnering with Orion
Strategic Rationale for Partnering with Orion(1) & Investment from Long-Term Partnership Strong Signal of Support Shared Commitment to 1 Orion Unlocks Ability to 2 with Premier Resource 3 for Expansion of Thacker 4 Strive for the Highest Declare FID on Closing Investment Firm Pass Phase 2 Sustainabi
Slide 9: Substantially De-Risked Project Execution for Thacker Pass
Substantially De-Risked Project Execution for Thacker Pass Work Force Thacker Pass Procurement Detailed Hub (WFH) Plant Areas Pricing Engineering Build out will align with Excavation of the process Top 7 pieces of long-lead Currently over 50% construction schedule – plant is 90% complete; equipment
Slide 10: Thacker Pass Operating Costs – Highly Competitive in a Downturn
Thacker Pass Operating Costs – Highly Competitive in a Downturn Thacker Pass Technical Report C3 OPEX(1)(3)(5) Production Scenario (Years 1-25) Low OPEX would have enabled Thacker Pass to remain profitable during the 2024 lithium downturn C1 OPEX(4)(5) 20,000 Approx. $500/t, or ~7%, lower than estim
Slide 11: Lithium Batteries: Vital for U.S. Security
Lithium Batteries: Vital for U.S. Security Batteries by the Numbers Benefits of Batteries Military Equipment Needs Batteries $16.9 billion American Investment Batteries are increasingly at the heart the U.S. battery market size in 2023, Companies are investing more than $140 billion to of the techno
Slide 12: Clear Path to First Production in 2027
Clear Path to First Production in 2027 Thacker Pass Phase 1 permitted, funding de-risked and in major construction • Jan 2021: Record Major construction, wet of Decision issued LAC-GM JV Investment commissioning, • April 2022: major Agreement and DOE mechanical completion operating permits for const
Slide 13: Thacker Pass
Thacker Pass 13
Slide 14: Together, Building Thacker Pass Phase 1
Together, Building Thacker Pass Phase 1 Lithium Americas works closely with the following industry leading design and construction contractors Water Treatment EPCM Mining Sulfuric Acid Plant Terminal Operator Equipment Provider Trusted industry-leading firm Part of the NACCO Natural Global leader in
Slide 15: Construction Progress
To help protect your privacy, PowerPoint has blocked automatic download of this picture. Construction Progress Thacker Pass Process plant pad: carefully graded surfaces and defined edges showcase precise earthwork engineering Concrete batch plant; preparing for first pour in May 2025 Development of
Slide 16: Thacker Pass Phase 1 Processing Pad Layout
Thacker Pass Phase 1 Processing Pad Layout Sulfuric Acid Plant Leaching Filtration Building Acid Storage CCD Circuit Steam Turbine Sulfur Storage Ca Precipitation MgSO4 Crystallization Main Substation Process Event Pond PROCESSING PLANT ANIMATION Watch this animation to see the Thacker Pass Phase 1
Slide 17: Thacker Pass is Located in a Historic Caldera
Thacker Pass is Located in a Historic Caldera The McDermitt Caldera(1) Caldera Setting as Key Differentiator(1)(2) Originated from a Yellowstone complex Post-caldera hydrothermal fluids in the vicinity of Thacker Pass altered some of the supervolcano ~16 million years ago smectite to illite clay, in
Slide 18: Thacker Pass Location Benefits
Thacker Pass Location Benefits McDermitt Caldera Thacker Pass 80 Transloading Facility Access to adjacent paved highways; road improvements to facilitate construction traffic completed Lease for transloading terminal secured; access to rail ~60 miles away in Winnemucca, adjacent to I-80 for reag
Slide 19: Thacker Pass Utilizes Well Proven Technology & Equipment
Thacker Pass Utilizes Well Proven Technology & Equipment No novel equipment required; the flowsheet consists of standard equipment that has been proven for decades Beneficiation Process Chemical Process Thacker Pass Key Mineral Clay Traditional Standard Chemical Standard Process Steps: 1 Beneficiati
Slide 20: Lithium Technical Development Center
Lithium Technical Development Center De-risking scale-up concerns with production-size beneficiation equipment – producing end-to-end lithium carbonate samples since July 2022 • State-of-the-art laboratory and piloting facility integrating the Thacker Pass flow sheet from end-to-end • Validated Thac
Slide 21: Appendix
Appendix 21
Slide 22: Orion Resource Partners – Summary of Economic Terms
Orion Resource Partners – Summary of Economic Terms(1) Security Senior Unsecured Convertible Notes (the “Convertible Notes”) and Production Payment Agreement $195 million Convertible Notes, $30 million Delayed Draw Convertible Notes (“DDCN”)(2) and $25 million Production Investment Payment Matur
Slide 23: Top-tier Board of Directors with Deep Applicable Expertise
Top-tier Board of Directors with Deep Applicable Expertise Experts in strategic global operations and developing large capital projects, with deep technical and financial knowledge Kelvin Dushnisky Jonathan Evans Jinhee Magie JONATHAN EVANS Director and Chair, Compensation and Leadership Director an
Slide 24: Proven Leadership Team with a Strong Track Record
Proven Leadership Team with a Strong Track Record Experienced Management team with leading technical, project development and financial expertise Jonathan Evans April Hashimoto Virginia Morgan Director, President and CEO SVP, Finance and Administration VP, Investor Relations and ESG 20+ years of ope
Slide 25: Sustainability / ESG
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Slide 26: Developing Sustainable Lithium
Developing Sustainable Lithium ENVIRONMENTAL SOCIAL GOVERNANCE SAFETY Limiting environmental Developing collaborative Building a culture of Seeking to prevent, limit impact and mutually beneficial honesty, integrity, respect and manage health and relationships and accountability safety risks • On-si
Slide 27: Actively Engaging with Local Tribal & Community Members
Actively Engaging with Local Tribal & Community Members Through years of engagement, information sharing and meetings, we have learned about the community needs and priorities Community Benefits Agreement with the Community Needs & Priorities Delivered: Fort McDermitt Paiute and Shoshone Tribe Clo
Slide 28: Technical Report and Mineral Estimate
Technical Report and Mineral Estimate 28
Slide 29: Thacker Pass Technical Report Summary
Thacker Pass Technical Report(1) Summary World’s largest measured lithium resource and reserve supports development of a lithium district in northern Nevada Key Highlights Reserve Resource Proven and Probable Measured and Indicated Proven and Probable Reserve increase of 286% and Measured and 14.3 M
Slide 30: Thacker Pass Phase 1-5 Expansion Potential
Thacker Pass Phase 1-5 Expansion Potential(1)(2) Phase 1 Overall Site General Arrangement(1) 40,000 t/y Li2CO3 facility 2,250 t/d sulfuric acid plant CAPEX $2.9 billion Targeting construction completion in late 2027 Phase 2 40,000 t/y Li2CO3 facility 2,250 t/d sulfuric acid plant CAPEX
Slide 31: Thacker Pass Construction Timeline
Thacker Pass Construction Timeline Phase 1 – 40,000 t/y: Detailed Construction Timeline(1) 2025 2026 2027 2023-2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Early works and site preparation Announce First First steel Commence commissioning Construction Construction infrastructure (power, wa
Slide 32: Thacker Pass Technical Report – Sensitivity Analysis
Thacker Pass Technical Report – Sensitivity Analysis Technical Report Results(1) NPV and IRR Sensitivity Analysis(1) NPV IRR Base Case = 85-year Life of Mine (LOM) (US$ billions) 26.5% $13.6 20.0% Production Scenario = Years 1-25 of 85-year LOM $8.7 12.8% Lithium Price Assumption $24,000 per tonne $
Slide 33: Thacker Pass Mineral Resource and Reserve
Thacker Pass Mineral Resource and Reserve As reported under NI 43-101 as of December 31, 2024(1) Mineral Reserve Estimate Mineral Resource Estimate Tonnage Average Li LCE Tonnage Average Li LCE Category Category (Mt) (ppm) (Mt) (Mt) (ppm) (Mt) Proven 269.5 3,180 4.5 Measured (M) 560.8 2,680 8.0 Prob
Slide 34: Thacker Pass Mineral Resource and Reserve
Thacker Pass Mineral Resource and Reserve As reported under S-K 1300, as of December 31, 2024(1) Mineral Reserve Estimate Mineral Resource Estimate Tonnage Average Li LCE Metallurgical Category Tonnage Average Li LCE (Mt) (ppm) (Mt) Category Recovery (Mt) (ppm) (Mt) (%) Proven 269.5 3,180 4.5 Measur
Slide 35: Forward-Looking Statements and Information
Forward-Looking Statements and Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation, and required in the course of production; the respective benefits and impacts of Thacker Pass when production operations “forward-look
Slide 36: LAC
LAC CONTACT INFORMATION NYSE & TSX Virginia (Ginny) Morgan VP, IR and ESG info@lithiumamericas.com www.lithiumamericas.com @LithiumAmericas
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