Lithium Americas Further Strengthens Balance Sheet with $175 Million Financing as Thacker Pass Approaches Peak Construction

Lithium Americas Corp. entered into a securities purchase agreement to issue up to $175 million in aggregate principal amount of subordinated convertible debentures to YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP. The initial closing of $150 million is contingent upon the filing of the Company’s quarterly report on Form 10-Q for the period ended June 30, 2026, with an option to issue an additional $25 million at the Company's discretion.

Proceeds are designated for general corporate purposes, including capital expenditures, working capital, and debt repayment, further strengthening liquidity for the development of the Thacker Pass project. The Company agreed to suspend sales under its at-the-market equity program for 30 days following the initial closing.

The financing complements the $2.23 billion U.S. Department of Energy (DOE) loan and strategic investments from General Motors Holdings LLC and Orion Resource Partners for the Thacker Pass project, which targets 40,000 tonnes per year of battery-grade lithium carbonate with mechanical completion targeted for late 2027.

Lithium Americas Corp. has secured a $175 million debenture financing, a move that provides necessary financial flexibility to navigate peak construction phases and manage global macroeconomic and geopolitical pressures, according to management. The capital raise aligns with the company's stated 2026 capital expenditure guidance of $1.3 billion to $1.6 billion and serves as a routine follow-up to its ongoing funding strategy, consistent with previous expectations given the heavy construction phase and prior capital raises.

The transaction de-risks near-term liquidity and reduces reliance on immediate equity dilution via the ATM program, which has been suspended for 30 days. This suspension signals management's preference for debt financing over equity issuance at current price levels. The financing does not alter the fundamental project timeline or economics.

Lithium Americas Corp. is a Canadian mining company focused on the Thacker Pass Lithium Project in Humboldt County, Nevada. The project is a joint venture between Lithium Americas (62%) and General Motors Holdings LLC (38%). Phase 1 targets a nominal production capacity of 40,000 tonnes per year of battery-grade lithium carbonate, with mechanical completion targeted for late 2027 and full ramp-up through 2028.

The project benefits from a strong resource base, including 14.3 Mt LCE in reserves and 44.5 Mt LCE in resources, alongside a low-cost processing flowsheet utilizing standard hydrometallurgical processes. Construction is well underway, with detailed engineering more than 95% complete and procurement more than 70% complete. As of mid-2026, over 1,600 personnel were on site. The project is fully permitted and supported by a $2.23 billion DOE loan, strategic investments from GM and Orion Resources, and a Project Labor Agreement with North America's Building Trades Unions.