Proceeds will further strengthen the Company’sliquidity position as it continues its development of Thacker Pass ("Thacker Pass" or the "Project"), which is designed to produce 40,000 tonnes per year of battery-grade lithium carbonate. The financing complements the Project's $2.23 billion U.S. Department of Energy ("DOE") loan ("DOE Loan") and strategic investments from General Motors Holdings LLC ("GM") and funds managed by Orion Resource Partners ("Orion").

Jonathan Evans, President and Chief Executive Officer of Lithium Americas, said, "Thacker Pass is progressing well toward our late 2027 mechanical completion target, with over 1,600 personnel on site and long-lead equipment and materials arriving daily. The Debentures announced today will provide the Company with additional financial flexibility as we advance through peak construction while navigating global macroeconomic and geopolitical pressures. We believe Thacker Pass is uniquely positioned to deliver a reliable, U.S.-sourced supply of lithium at a time when domestic supply chain security is more critical than ever, and this financing underscores our commitment to supporting American energy independence."

The Company has agreed to issue $150 million in Debentures upon filing its quarterly report on Form 10-Q for the period ended June 30, 2026. The Company retains the right to issue up to an additional $25 million in Debentures in one or more subsequent closings at its discretion, subject to conditions as further described in the Purchase Agreement. The Company has separately agreed to suspend sales under its at-the-market equity program for 30 days following the initial closing.

Proceeds from the financing will be used for general corporate purposes, which may include funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness and additions to working capital.

The Company is relying upon the exemption set forth in Section 602.1 of the Toronto Stock Exchange ("TSX") Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange.