Lithium Americas Provides a Project Update and 2026 Capex Guidance for Thacker Pass

About this update from Lithium Americas Corp.

(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia, February 19, 2026--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") provides a project update for the year ended December 31, 2025, 2026 capital expenditure ("Capex") guidance and 2026 project development milestones for its Thacker Pass project in Humboldt County, Nevada ("Thacker Pass" or the "Project"). "2025 was a pivotal year for Lithium Americas and the Thacker Pass Project with Phase 1 construction well underway," said Jonathan Evans, President and Chief Executive Officer of Lithium Americas. "Safety remains our top priority, processing facilities are rising and critical equipment and materials are arriving daily. As planned, we expect to reach peak construction employment of roughly 1,800 skilled craftspeople by year-end. Lithium market conditions are strengthening just as the project prepares to come online in late 2027, with full ramp-up through 2028." Mr. Evans added, "Thacker Pass represents a unique opportunity to build a secure, resilient North American lithium supply chain. We value our partnership with the federal government and the support of local, state and federal leaders who share our commitment to strengthening America’s energy future." Q4 2025 PROJECT AND CONSTRUCTION HIGHLIGHTS The Company continues to progress major construction at Thacker Pass Phase 1. Construction milestones achieved in Q4 2025 include: The Company is growing its Operations and Business Readiness ("OBR") team to de-risk the transition from the engineering, procurement and construction phases of Thacker Pass through commissioning, ramp up and into production and maintenance of the greenfield mining and chemical facility. 2026 CAPITAL EXPENDITURE GUIDANCE The Company is targeting a Capex range of $1.3 billion to $1.6 billion for Thacker Pass Phase 1 for fiscal year 2026, as shown in the table below: 2026 Capex Guidance Notes: Fiscal year 2025 Capex spend is expected to be disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, which is expected to be filed on March 19, 2026. EXPECTED 2026 DEVELOPMENT MILESTONES The Company continues to target mechanical completion of the Thacker Pass Phase 1 processing plant in lat...

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