Lithium Americas Corp. · NYSE:LAC
Lithium Americas — Investor Presentation (April 2025)
38 slides from Lithium Americas's investor presentation, April 2025
Slide 1: FID and Fully Funded: Accelerating Toward Production
NYSE and TSX: LAC FID and Fully Funded: Accelerating Toward Production APRIL 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, FID announced March; targeting Large lithium Resource (M&I) McDermitt completion in late 2027 and Reserve (P&P) with Thac
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 $250 Exploration Management (BLM) Agreement wit
Slide 5: Thacker Pass – Phase 1 Fully Funded Through Construction
Thacker Pass – Phase 1 Fully Funded Through Construction Fully funded at the project and corporate level for the development and construction of Phase 1 Thacker Pass for the duration of construction $2.26 Billion U.S. DOE $945 Million Total $250 Million Strategic ATVM Loan(1) Investment and 38% JV(2
Slide 6: 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 All long-lead equipment Currently over 50% construction schedule – plant is 90% complete; has been awa
Slide 7: Thacker Pass Operating Costs – Competitive in a Downturn
Thacker Pass Operating Costs – Competitive in a Downturn Production Scenario (Years 1-25) Thacker Pass AISC OPEX(3)(4) C1 OPEX(1)(2) Low OPEX would have enabled Thacker Pass to remain profitable during the 2024 lithium downturn Approx. $500/t, or ~7%, lower than estimated in 16,000 Nov 2022 Feasibil
Slide 8: 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 9: Industry Leading Team with Deep Development Experience
Industry Leading Team with Deep Development Experience Kelvin Dushnisky Philip Montgomery Jonathan Evans Luke Colton Richard Gerspacher Director and Executive Chair Director and Chair, Technical Committee Director, President and CEO EVP and CFO EVP, Capital Projects 20+ years of experience 20+ y
Slide 10: Clear Path to First Production in 2027
Clear Path to First Production in 2027 Thacker Pass Phase 1 permitted, fully funded, FID announced 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
Slide 11: Thacker Pass
Thacker Pass 11
Slide 12: 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 13: Construction Progress
Construction Progress Thacker Pass Workforce Hub Over 380 pre-cast foundations have been installed; first occupancy expected in H2 2025 Process plant pad: earthwork over 90% completed, preparing for first major concrete placement Congressman Mark Amodei (left) and Governor Joe Jon Evans, LAC Preside
Slide 14: 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 15: Thacker Pass is Located in the McDermitt Caldera
Thacker Pass is Located in the McDermitt 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,
Slide 16: 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 17: 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 18: 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 19: Appendix
Appendix 19
Slide 20: 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 21: 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 22: 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 23: 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 Unlocked Ability to 2 with Premier Resource 3 for Expansion of Thacker 4 Strive for the Highest Declare FID Investment Firm Pass Phase 2 Sustainability Pract
Slide 24: 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 (“PPA”) $195 million Convertible Notes, $30 million Delayed Draw Convertible Notes (“DDCN”)(2) and $25 million Production Investment Payme
Slide 25: 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 26: 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 27: Sustainability / ESG
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Slide 28: 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 29: 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 30: Technical Report and Mineral Estimate
Technical Report and Mineral Estimate 30
Slide 31: 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 Resource Reserve Key Highlights Measured and Indicated Proven and Probable 44.5 Mt LCE 14.3 Mt LCE Proven and Probable Reserve increase of aver
Slide 32: 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 $2.9 billion Targeting construction completion in late 2027 Phase 2 40,000 t/y Li2CO3 facility 2,250 t/d sulfuric acid plant CAPEX
Slide 33: Thacker Pass Construction Timeline
Thacker Pass Construction Timeline Phase 1 – 40,000 t/y: Detailed Construction Timeline(1) 2025 2026 2027 2023-2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Early works and site preparation First WFH Announced the First steel Detailed Commence Construction Construction infrastructure (pow
Slide 34: Thacker Pass Technical Report – Sensitivity Analysis
Thacker Pass Technical Report – Sensitivity Analysis Technical Report Results(1) NPV and IRR Sensitivity Analysis(1) NPV IRR Base Case = 85-year Life of Mine (LOM) (US$ 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 35: 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 36: 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 37: 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 industry, the green energy transition and the electric vehicle market; accuracy of development budgets and construction “forward-l
Slide 38: LAC
LAC CONTACT INFORMATION NYSE & TSX Virginia (Ginny) Morgan VP, IR and ESG info@lithiumamericas.com www.lithiumamericas.com @LithiumAmericas
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