Ms. Virginia Morgan reports

LITHIUM AMERICAS PRICES US$275 MILLION UNDERWRITTEN PUBLIC OFFERING

Lithium Americas Corp. has priced its previously announced underwritten public offering of 55 million of its common shares at a price to the public of $5 per common share for aggregate gross proceeds to the company of $275-million. (All amounts are in U.S. dollars unless otherwise indicated.)

The offering is being conducted through a syndicate of underwriters led by Evercore ISI, Goldman Sachs & Co. LLC and BMO Capital Markets, as the co-lead book-running managers, J.P. Morgan as joint book-running manager, and Canaccord Genuity, Cormark Securities Inc., Scotiabank, Stifel Canada, Eight Capital and Tuohy Brothers as co-managers.

The company has granted the underwriters an option to purchase up to 8.25 million additional common shares at the issue price, exercisable, in whole or in part, for up to 30 days after the closing of the offering.

The company intends to use the net proceeds of the offering for advancing the construction and development of its Thacker Pass lithium project in Humboldt county, Nevada, as further described in the prospectus supplements.

In March, 2024, the company achieved a significant milestone for Thacker Pass by receiving a conditional commitment from the U.S. Department of Energy under the advanced technology vehicles manufacturing loan program for a $1.97-billion loan in aggregate principal to finance eligible construction costs of the processing facilities at Thacker Pass, targeting to produce an initial 40,000 tonnes per year of battery-grade lithium carbonate (phase 1), plus interest to be accrued during construction, which is estimated to be $290-million over a three-year period, together totalling a $2.26-billion loan. As of Dec. 31, 2023, after accounting for financing from the loan and the pending $330-million second tranche investment from General Motors Holdings LLC, the company estimates approximately $436-million remains to be committed to phase 1 capital costs from the company's existing cash and cash equivalents and incremental financing. The company's approximately $196-million of cash and cash equivalents, as of Dec. 31, 2023, when combined with the net proceeds of the offering of approximately $263-million (before giving effect to any exercise of the overallotment option), along with and after accounting for the financing from the loan and the GM tranche 2 investment, are expected to result in the estimated remaining capital expenditures of approximately $2,736-million for construction of phase 1, as well as the company's 2024 operating budget being substantially fully financed. Incremental financing requirements will be financed through the exercise of the overallotment option (if exercised) or other financing alternatives.

Closing is expected to occur on April 22, 2024, and is subject to customary closing conditions, including receipt of required approvals of the Toronto Stock Exchange and the New York Stock Exchange.

The offering will be made in the United States by way of a prospectus supplement to the company's existing base shelf prospectus forming part of an effective registration statement on Form F-3 (file No. 333-274883), and will be made in Canada by way of a prospectus supplement to the company's existing base shelf prospectus. The offering is being made in the United States and in each of the provinces and territories of Canada, except Quebec. The prospectus supplements, the base shelf prospectuses and the registration statement contain important information about the company and the proposed offering. Prospective investors should read the prospectus supplements, the base shelf prospectuses and the registration statement, and the other documents the company has filed before making an investment decision. The final Canadian prospectus supplement (together with the related Canadian base shelf prospectus) will be available on SEDAR+. The final U.S. prospectus supplement (together with the registration statement) will be available on the U.S. Securities and Exchange Commission's website. Alternatively, the final U.S. prospectus supplement (together with the registration statement) may be obtained, when available, upon request by contacting Evercore Group LLC, attention: equity capital markets, 55 East 52nd St., 35th floor, New York, N.Y., 10055, by telephone at 888-474-0200 or by e-mail at ecm.prospectus@evercore.com; Goldman Sachs & Co., attention: prospectus department, 200 West St., New York, N.Y., 10282, by telephone at 866-471-2526 or by e-mail at prospectus-ny@ny.email.gs.com; or BMO Nesbitt Burns Inc., attention: Brampton distribution centre care of the Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151, extension 4312, or by e-mail at torbramwarehouse@datagroup.ca.

About Lithium Americas Corp.

The company is a Canadian-based lithium resource company that owns 100 per cent of the Thacker Pass project located in Humboldt county in northern Nevada through its wholly owned subsidiary, Lithium Nevada Corp.

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