Lithium Americas Corp

Lithium Americas Corp: Company Overview

Management

Executive Leadership Team

Jonathan Evans - Director, President and CEO

• 20+ years operations experience, former VP at FMC Corporation's Lithium Division
• Education: B.S. Mechanical Engineering (Clarkson), MSc (Rensselaer)

Luke Colton - Executive VP and CFO

• Former CFO of Minova International and Turquoise Hill Resources
• 20+ years financial experience in mining sector

Key Executives Include:

• Richard Gerspacher - EVP, Capital Projects
• Edward Grandy - SVP, General Counsel
• Rene LeBlanc - VP, Growth and Product Strategy
• Virginia Morgan - VP, Investor Relations and ESG

Board of Directors

Kelvin Dushnisky - Executive Chair

• Former CEO of AngloGold Ashanti, former President of Barrick Gold

Key Board Members:

• Yuan Gao - Lead Independent Director
• Michael Brown - Chair, Safety and Sustainability
• Fabiana Chubbs - Chair, Audit and Risk
• Zach Kirkman - GM's nominee to Board
• Philip Montgomery - Chair, Technical Committee

Projects

Thacker Pass Project (Flagship Asset)

• World's largest known measured lithium resource and reserve
• Located in Humboldt County, Nevada
• Joint venture: Lithium Americas (62%) and General Motors (38%)
• 85-year life of mine with five-phase expansion potential

Phase 1 (Current Focus):

• 40,000 tonnes per year battery-quality lithium carbonate
• FID announced March 2025, completion targeted late 2027
• Construction underway with 300+ workers on site (1,800 expected at peak)
• $574.1 million construction costs capitalized as of June 30, 2025
• Engineering 70% complete as of Q2 2025

Future Expansion:

• Total potential capacity: 160,000 tonnes per year across five phases

Subsidiaries

Lithium Nevada LLC (LN) - Wholly-owned subsidiary

• Holds company's 62% interest in Thacker Pass joint venture
• Manages Thacker Pass project operations

Lithium Nevada Ventures LLC - Joint venture entity

• Owns Thacker Pass project
• Joint venture between Lithium Americas (62%) and GM (38%)

Partners

General Motors (GM)

• 38% ownership in Thacker Pass joint venture
• 20-year offtake for up to 100% of Phase 1 production
• Additional offtake for up to 38% of Phase 2 production

U.S. Department of Energy (DOE)

• $2.26 billion loan facility at U.S. Treasury rate
• First draw expected in second half of 2025

Orion Resource Partners

• $220 million strategic investment closed April 2025
• $195 million convertible notes + $25 million production payment

Bechtel

• Engineering, procurement and construction management contractor

Financial Status

Current Financial Position (as of June 30, 2025)

• Cash and Restricted Cash: $509.1 million
• Total Assets: $1,339.1 million
• Total Long-term Liabilities: $251.5 million
• Net Loss (Six months): $24.8 million
• Loss per Share: $0.11

Cash Burn Rate and Runway

• Cash burn: $85 million over six months ($17 million/month)
• Current cash runway: less than one year
• Expected to extend through DOE loan draw in H2 2025

Funding Sources

• DOE Loan: $2.26 billion
• GM Investment: $100 million
• Orion Investment: $220 million
• ATM Program: $63.6 million used of $100 million authorized
• Company Contribution: $191.6 million to joint venture

Short and Long-term Plans

Short-term (2025-2027)

• Complete detailed engineering (90%+ by year-end 2025)
• First steel installation (September 2025)
• Ramp up workforce to 1,000 by year-end 2025
• First draw on DOE loan in H2 2025
• Mechanical completion of Phase 1 targeted for late 2027

Long-term (2028+)

• Achieve 40,000 tonnes per year production capacity
• Create ~350 full-time operational jobs
• Expand to additional phases as market conditions warrant
• Become North America's leading lithium producer
• Develop integrated lithium supply chain in North America

ESG (Environmental, Social, Governance)

Environmental

• Comprehensive environmental permitting completed
• Phased reclamation planning during mine life
• Aligned with GRI Standards, SASB Metals and Mining Standards, and UN SDGs

Social

• Local community consultation and partnerships
• Workforce development training with Great Basin College
• Nearly 2,000 construction jobs and 350 operational jobs expected
• Board-level Safety and Sustainability Committee oversight

Governance

• Independent Board committees with clear mandates
• Comprehensive code of conduct and ethics policies
• Enterprise risk management framework
• Regular ESG performance reporting

Summary Overview

Lithium Americas Corp. is a pure-play North American lithium developer advancing its flagship Thacker Pass project in Nevada—the world's largest known measured lithium resource. With Final Investment Decision declared in March 2025, Phase 1 construction (40,000 tonnes per year) is underway, targeting completion in late 2027. The project is supported by robust funding including a $2.26 billion DOE loan, strategic investments from GM and Orion, and the company's $509.1 million cash position. Led by an experienced management team and board, the company maintains strong ESG commitments while positioning to become a cornerstone of North America's domestic lithium supply chain for the electric vehicle and energy storage industries.