Lithium Argentina Ag · NYSE:LAR
Lithium Argentina — Investor Presentation (August 2026)
23 slides from Lithium Argentina's investor presentation, August 2026
Slide 1: Corporate Presentation
LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR NYSE & TSX: LAR Corporate Presentation August 2026 Cauchari-Olaroz Jujuy, Argentina
Slide 2: Argentina’s Leading Lithium Brine Producer
2 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Argentina’s Leading Lithium Brine Producer BOLIVIA Operational excellence driving value Cauchari-Olaroz (44.8%) Producing Operation ▪ Stage1: 40ktpa lithium ▪ Cauchari-Olaroz: Argentina’s largest lithium operation carbonate capacity with t
Slide 3: Resource Scale Supports Long-term Growth
3 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Resource Scale Supports Long-term Growth Significant stakes in two of the largest lithium brine resources in South America South American Lithium Brine Resources M&I by Salar / Basin 60 LAR & GFL JVs ALB 50 Other Companies 40 RIO 42% incre
Slide 4: Cauchari-Olaroz
LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR NYSE & TSX: LAR Cauchari-Olaroz
Slide 5: Cauchari-Olaroz: Operations Overview
5 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Cauchari-Olaroz: Operations Overview Ramp-up track record & production profile Cauchari-Olaroz Production1 Location Jujuy Province, Argentina tonnes per month Ganfeng Lithium (46.7%), Lithium Argentina Ownership (44.8%), JEMSE (8.5%) 4000
Slide 6: Cauchari-Olaroz: Structural Cost Leadership
6 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Cauchari-Olaroz: Structural Cost Leadership Consistent low-cost production supports strong cash generation Cauchari-Olaroz1: Cash Operating Costs Cauchari-Olaroz: Operating Margin $ operating cash cost per tonne sold $ operating cash cost
Slide 7: Cauchari-Olaroz: Strong Cash Flow Generation
7 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Cauchari-Olaroz: Strong Cash Flow Generation Cash flow used to reduce debt, distribute cash to JV partners and position operation for growth Free Cash Flow1 from Operations Net Debt Cauchari-Olaroz Q2 2026 Cauchari-Olaroz, Q1 to Q2 2026 (U
Slide 8: Strong liquidity and EBITDA outlook enhance financial flexibility
8 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Strong liquidity and EBITDA outlook enhance financial flexibility Liquidity supported at both the JV and corporate level Cauchari-Olaroz 2026 EBITDA Outlook2,3 Cauchari-Olaroz adjusted EBITDA at various market price scenarios ▪ Closed $220
Slide 9: Independent Verification Confirms Low Carbon Footprint
9 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Independent Verification Confirms Low Carbon Footprint Product carbon footprint independently verified under internationally recognized standards Verified Product Carbon Footprint: 1.4 t CO₂e/t LCE Community Engagement Highlights ▪ Low car
Slide 10: Growth Pipeline
LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR NYSE & TSX: LAR Growth Pipeline
Slide 11: Growth Pipeline: Stage 2 and PPG Progress
11 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Growth Pipeline: Stage 2 and PPG Progress Advancing a phased expansion approach supported by Stage 1 cash flow ▪ Cauchari-Olaroz Stage 2: ▪ Debottlenecking activities at Stage 1 support operation above design capacity, further de-risking
Slide 12: PPG Scoping Study Results
12 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR PPG Scoping Study Results Phased development plan targeting 150ktpa LCE Operating Costs2 Pozuelos Pastos-Grandes (PPG) Others Contingency Stage 1: 50,000 tpa LCE G&A Reagents Capacity $5,344/t Full Project: 150,000 tpa LCE Salts Stage 1 1
Slide 13: PPG Scoping Study Results
13 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR PPG Scoping Study Results Phased development plan targeting 150ktpa LCE PPG Pozuelos Pastos-Grandes (PPG) Stage 1: 50,000 tpa LCE Capacity Full Project: 150,000 tpa LCE 15.1 Mt LCE (M&I) Resource(1) 6.7 Mt LCE (Inferred) (2) Price $18,000
Slide 14: PPG: Unlocking LT Value
14 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR PPG: Unlocking LT Value NPV of $6–$8B at 8-10% discount underpins the high long-term value for PPG PPG Valuation Highlights PPG Results - Price Sensitivity US$ 100% Basis $8.1B $20 100% $5.8B After-tax NPV After-tax IRR (%) 80% $15 $1.7B
Slide 15: Macro Outlook
LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR NYSE & TSX: LAR Macro Outlook
Slide 16: Lithium Demand Macro
17 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Lithium Demand Macro Analyst Estimates are Trending Upwards Demand2 LCE tonnes in millions and TWh Battery Demand Lithium Carbonate Price1 $/t Li2CO3 battery-quality GFEX Lithium (LCE) Battery (TWh) 2.6 2.6 4.1 $30,000 2.1 3.6 1.9 3.1 2.4
Slide 17: Lithium Supply Costs
18 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Lithium Supply Costs Cost competitive lithium chemical production in the Americas 2025 Lithium Supply Cost Model1, 2 C1 cash costs per tonne by tonnes LCE produced in 2025 14,000 12,000 10,000 South American Spodumene Concentrate and/or B
Slide 18: Argentina's RIGI Framework Supports Growth Plans
19 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Argentina's RIGI Framework Supports Growth Plans RIGI Approval Received for Cauchari-Olaroz Stage 2 RIGI Investments Jujuy Salta Benefits under RIGI: Catamarca $2.7 B 25% 0% $3.8 B Copper Lithium Corporate Tax Rate Argentina Export Duties
Slide 19: Conclusion
LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR NYSE & TSX: LAR Conclusion
Slide 20: Executing the Next Phase of Growth
21 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Executing the Next Phase of Growth Building on Cauchari-Olaroz Stage 1 to scale to over 200k tpa LCE Growth Pipeline in Argentina Targeted LCE capacity in k tpa, 100% basis 300 235k tpa 250 PPG 50k 200 Cauchari-Olaroz Cauchari-Olaroz 50k
Slide 21: Upcoming Priorities
22 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR Upcoming Priorities Building on Stage 1 execution while advancing the next phase of growth Operate Strengthen Grow De-Risk ▪ Achieve 2026 ▪ Continue to increase ▪ Complete Stage 2 ▪ Maintain strong cash production guidance liquidity and s
Slide 22: Contact Information
LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR NYSE & TSX: LAR Contact Information Kelly O'Brien VP Investor Relations & ESG Kelly.OBrien@lithium-argentina.com www.lithium-argentina.com
Slide 23: References
24 LITHIUM ARGENTINA / Corporate Presentation NYSE & TSX: LAR References Slide 3 Company Reference Material Rio Tinto (Olaroz - Sales de Jujuy) 2025 Annual Report Rio Tinto (Cauchari) 2025 Annual Report Exar (Cauchari-Olaroz) Lithium Argentina March 2026 Technical Report Lithium Energy - Solaroz 26t
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