#1LithiumArgentina NYSE & TSX: LAAC CORPORATE PRESENTATION SEPTEMBER 2023#2LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Disclaimer 2 NYSE & TSX: LAAC ADDITIONAL REFERENCE MATERIALS This presentation should be read in conjunction with Lithium Americas Corp.'s ("Lithium Americas", "LAC" or the "Company") news releases, material change reports, most recent annual financial statements and related management discussion and analysis ("MD&A”), most recent interim financial statements and related MD&A, technical reports, most recent annual information form and most recent management information circular dated June 16, 2023 (the "Management Information Circular") (collectively "Disclosure Documents"), for full details of the information referenced throughout this presentation. These documents are available on the Company's website at www.lithiumamericas.com or on SEDAR or EDGAR. This presentation is for general information only and shall not constitute an offer to sell or a solicitation of an offer to purchase securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which or to any person to whom such an offer, solicitation or sale would be unlawful. This presentation includes information on peer companies and other industry and market data. We obtained information from publicly available and other third-party sources as well as the Company's good faith estimates. While the Company believes the information was prepared by reputable sources, the Company did not independently verify the information or the underlying assumptions. No representation or warranty is made as to accuracy, completeness or reasonableness of such information. The Company disclaims any responsibility or liability whatsoever in respect of this information. Readers are cautioned to review the underlying information referenced herein, as applicable FORWARD-LOOKING STATEMENTS AND INFORMATION This presentation contains "forward-looking information" within the meaning of applicable Canadian securities legislation, and "forward-looking statements" within the meaning of applicable United States securities legislation (collectively referred to as "forward-looking information" ("FLI")), and readers should read the cautionary notes contained on the slides entitled "Forward Looking Statements and Disclaimer" in the Appendix of this document. THIRD-PARTY NAMES AND TRADEMARKS All product and company names are trademarks or registered trademarks of the respective third-party holders. Our use of such trademarks in our presentation does not imply any endorsement by or affiliation with such third parties. CURRENCY All figures presented are in U.S. Dollars unless otherwise noted. NI 43-101 DISCLOSURE Scientific and technical information in this presentation, including information about the Caucharí-Olaroz Project has been reviewed and approved by Rene LeBlanc, PhD, the Company's Chief Technical Officer and a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). On the Company's behalf, Mr. LeBlanc has also reviewed the scientific and technical information in this presentation about the Pastos Grandes Project. The following technical reports and news releases are available on the Company's website, SEDAR or EDGAR. Further information about the Caucharí-Olaroz Project, including a description of key assumptions, parameters, methods and risks, is available in the NI 43-101 technical report, "Updated Feasibility Study and Mineral Reserve Estimation to Support 40,000 tpa Lithium Carbonate Production at the Caucharí-Olaroz Salars, Jujuy Province, Argentina" dated effective September 30, 2020 ("Caucharí-Olaroz FS"). Further information about the Pastos Grandes Project, including a description of key assumptions, parameters, methods and risks, is available in the technical report titled "NI 43-101 Technical Report, Lithium Resources Update, Pastos Grandes Project, Salta Province, Argentina" with an effective date of April 30, 2023. Other than as described in the Company's Disclosure Documents, there are no known legal, political, environmental or other risks that could materially affect the potential development of the mineral reserves and mineral resources at this point in time. The mineral resource and mineral reserve estimates contained in this presentation have been prepared in accordance with the requirements of securities laws in effect in Canada, including NI 43-101, which governs Canadian securities law disclosure requirements for mineral properties. NI 43-101 differs from the requirements of the United States Securities and Exchange Commission ("SEC") that are applicable to domestic United States reporting companies. Any mineral resources and mineral reserves reported by the Company herein may not qualify as such under SEC standards. Accordingly, information included in this presentation that describes the Company's mineral resource and mineral reserve estimates may not be comparable with information made public by United States companies subject to the SEC's reporting disclosure requirements.#3LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Corporate Snapshot Share Price (NYSE:LAC) (US$/sh.) $45 $30 $15 LAC Currency Exchange Shares Outstanding(1) 52 Week Range(2) (NYSE) Share Price(1) (NYSE) 1-Year Average Daily Volume (2) (NYSE & TSX) Market Cap(1) Cash and Short-term Bank Deposits (3) Jan-22 Jun-22 Nov-22 Apr-23 Total Debt(3) Sep-23 Sep-21 Shareholders (4) Institutional 30% Insiders Retail 46% 5% Strategic 19% Strategic include: ■ 9.4% General Motors (5) ■9.4% Ganfeng Lithium North America 77% Asia 11% Europe 8% ROW 3% (1) As of September 5, 2023; source: FactSet. (2) As of September 5, 2023, includes intraday prices; source: FactSet. (3) (4) Cash and short-term bank deposits, book value of debt as of June 30, 2023, refer to the Company's Q2 2023 Financials and MD&A for details. 2023 Canada and U.S. NOBO and IR Nasdaq as of August 30, 2023. (5) GM is the Company's largest shareholder. See news release of February 16, 2023 for full details. As of May 15, 2023. NYSE & TSX: LAAC NYSE and TSX USD 160M $16.07 - $32.50 $18.90 2.6M $3.0B $502M $197M Analyst Coverage BMO M B RILEY CgGenuity /Canaccord Clarksons CORMARK SECURITIES INC. COWEN Deutsche Bank EIGHT CAPITAL Evercore HSBC Jefferies MORNINGSTAR® NATIONAL BANK PI FINANCIAL experience. driven. PIPER SANDLER Scotiabank STIFEL TUOHY BROTHERS 3#4LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 NYSE & TSX: LAAC 4 Fully Funded to Reach Nameplate Production and Positive Cash Flow Allocation of Key Assets & Liabilities Key Assets Cash Allocation (as of Q2 2023 balance sheet) Convertible Notes LithiumAmericas (NewCo) THACKER PASS (100%) GT1 INVESTMENT (~4.8%) ASCEND ELEMENTS INVESTMENT(1) ~US$336 million From Q2 2023 balance of US$502 million(2)(3) Other Sources of Liquidity ~US$330 million GM Tranche 2 investment (5) Pending DOE ATVM financing (6) LithiumArgentina (RemainCo) CAUCHARĺ-OLAROZ (44.8%) PASTOS GRANDES (100%) SAL DE LA PUNA (65%) ~US$167 million From Q2 2023 balance of US$502 million(2)(3) ~US$259 million (4) Outstanding principal amount (1.75% due 2027) ~US$75 million (7) Subordinate loan One LAC Share Becomes One Share of New LAC and One Share of Lithium Argentina Target date for separation: October 3 For more information, see the Company's Management Information Circular. US$5 million. Based on cash and cash equivalents and short-term bank deposits at June 30, 2023. (1) (2) (3) Upon the completion of Separation, Lithium Americas (NewCo) will receive US$75 million of cash + any GM Tranche 1 unspent (4) Subject to adjustments to terms as a result of the Separation, pursuant to the convertible notes indenture. (5) Subject to certain closing conditions, including securing sufficient funding for the development of Thacker Pass Phase I. (6) net proceeds, with the remaining cash to be allocated to Lithium Argentina. The US$75 million allocation is subject to adjustment if (7) the Separation occurs post September 1, 2023. Pro-forma as if separation occurred on June 30, 2023. Funding from the ATVM Loan Program is expected to provide up to 75% of the Thacker Pass project's eligible capital costs for construction of Phase I. Undrawn as of June 30, 2023.#5LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Demand for LCE to Outpace Supply Monthly Avg. Historical Lithium Prices(1) (US$000/t LCE) $90 $80 $70 $60 $50 $40 $30 $20 $10 -Battery Grade Lithium Carbonate Price (US$000/t) Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 (Mt LCE) Forecasted Supply Gap(2) 1 2 3 4 5 -Operational Supply Highly Probable -Probable -Total Demand 6 NYSE & TSX: LAAC 2020A 2022A 2024E 2026E 2028E 2030E 2032E 2034E 2036E 2038E 2040E Investment in new sources of lithium supply will be required to meet demand (1) As of September 5, 2023; source: Asian Metals. (2) As of Q2 2023; source: Benchmark Mineral Intelligence. 5#6LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 CAUCHARÍ-OLAROZ NYSE & TSX: LAAC 6#7LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Stage 1 Highlights Largest lithium carbonate brine operation to come online in 20+ years Capacity of 40,000 tpa (1) battery-quality lithium carbonate ■ ◉ Achieved first lithium production in June 2023 and expected to be fully operating by mid-2024(2) Ganfeng Lithium and Lithium Americas entitled to 51% and 49% of Stage 1 production, respectively Offtake agreements at market prices in place for over 80% of Lithium Argentina's share of planned Stage 1 production Secured 50% of energy need from renewable source, with opportunity to decrease the operation's expected carbon intensity KCI Crystallizer Step 3 - further removal of NaCl and KCI salts Location Resource Life of mine Total Capital Costs (at official FX rate) Jujuy Province, Argentina Lithium brine from the Olaroz & Cauchari salars 40 years US$979 million (1) 100% basis. (2) Refer to the Company's news release of June 12, 2023, for full details. Purification Plant Step 2-removes Mg, Ca, B and SO4 NYSE & TSX: LAAC 7 SX Plant Step 1 reduces boron to <10ppm concentration Soda Ash Storage Reagent storage facility Lithium Carbonation Plant Step 4 - produces single-crystal high quality Li₂CO3 Finished Product Storage Li₂CO3 packaged into large bags#8LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Strategic Location With Developed Infrastructure Positioned near all key infrastructure required The project is accessible via paved National Highways 9 and 52, which connect the site to San Salvador de Jujuy and Salta in Argentina Access to Antofagasta and Mejillones ports via Highway 52 and Chilean Route 27 connection (Paso Jama) 33 kV power line, gas pipeline, water systems completed and commissioned Integrated project with respect to mining and conversion in northern Argentina " Constructed both mining and processing facility designed to support annual production at full capacity CHILE 8 NYSE & TSX: LAAC BOLIVIA Atacama (SQM and Albemarle) Caucharí-Olaroz Jujuy Pastos Grandes Sal de la Puna Salta ARGENTINA Caucharí-Olaroz, Pastos Grandes, Sal de la Puna Paved Road Rail Road Transmission Line City Port#9LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 First Shipment Achieved Production of first lithium in June 2023(1) Expected to produce approximately 5,000 tonnes of lithium carbonate in 2023 Testing and commissioning of critical equipment required to achieve battery-quality lithium carbonate underway First lithium sales have been shipped and are expected to be completed in 2023 Target of reaching capacity of 40,000 tpa of battery-quality lithium carbonate by mid-2024 Thickener & SSL Purification Plant KCI Crystallizer SX Plant Pond Harvesting Lithium Carbonation Lithium Brine (1) Refer to the Company's news release of June 12, 2023, for full details. NYSE & TSX: LAAC 9#10LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Ganfeng Lithium: Strategic Partner & Committed Offtake Agreement GanfengLithium MineraExar NYSE & TSX: LAAC 10 LithiumArgentina Ganfeng Lithium is one of worlds' top 5 lithium producers and a seasoned partner with deep expertise of lithium refining, battery production and recycling Dedicated to the lithium industry for over 20 years Committed to a significant portion of Cauchari-Olaroz Stage 1 offtake at market prices Entitled to 51% of offtake (20,400 tpa of LCE assuming full capacity) of Stage 1 production#11LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Cauchari-Olaroz Stage 2 Stage 2 expansion of at least 20,000 tpa lithium carbonate (1) ☐ Project planning continues to progress to align with completion of Stage 1 - Development of the exploration wellfield underway Seven communities in the vicinity of the project have approved the proposed expansion Stage 2 production fully uncommitted Location Ownership Resource Stage Target Annual Production Capacity Jujuy Province, Argentina Ganfeng (46.7%) Lithium Argentina (LAAC) (44.8%) JEMSE (8.5%) Conventional brine Development Atleast 20,000 tpa lithium carbonate (1) 100% basis. NYSE & TSX: LAAC 11#12LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Pastos Grandes Basin Pastos Grandes basin is ~100 km from Caucharí-Olaroz Consolidating the Pastos Grandes Basin Integrating the development of the Pastos Grandes project and the Sal de la Puna project is expected to result in a larger scale and more optimized development plan and cost synergies for both projects ■ Continuing to advance a $30 million development plan, targeting completion of the plan and construction decision in Q4 2023 ■ A geophysics program has been completed, roads and drilling pads are under construction Pastos Grandes Project (100% owned) ■ Acquired Pastos Grandes in January 2022, with the acquisition of Millennial Lithium for total consideration of $390 million(1) N Salar de Jama Salar de CHILE ARGENTINA JUJUY SALTA Ganfeng/LAC: Cauchari-Olaroz Project Salar de Cauchari Salar del Rincon Olaroz NYSE & TSX: LAAC Cauchari Solar Facility 25 km Susques Lithium Americas: Pastos Grandes Project Salar de Pastos San Antonio de los Cobres Arena Minerals: Sal de la Puna Project Sal de la Puna Project (65% owned) Acquired Sal de la Puna in April 2023 with the all-share acquisition of Arena Minerals, for total consideration of US$227 million (2) (including LAC's existing 19.9% interest) Salar de Pocitos Ganfeng Lithium: Grandes Pozuelos-Pastos Grandes Project (1) Refer to the Company's news release of January 25, 2022, for full details. (2) Refer to the Company's news release of April 20, 2023, for full details. Maintained Roads Transmission Line Salar de Pozuelos Lithium Americas Ganfeng/LAC Ganfeng Lithium Arena Minerals Other 12#13LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Providing Lithium Platform with Significant Growth Pipeline 1 Production Further Growth Potential Updated FS Underway Preparation Sal de la Puna Project Pastos Grandes Project Cauchari-Olaroz Stage 1 Cauchari-Olaroz Stage 2 Execute & Optimize ☐ Cauchari-Olaroz Stage 1 ramp up to be completed by mid-2024 13 NYSE & TSX: LAAC Expand Accelerate Growth Pipeline 2 Cauchari-Olaroz Stage 2 preparation work continues to progress to align with completion of Stage 1 3 Advancing updated feasibility study on Pastos Grandes and exploring Sal de la Puna integration and optimization#14LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 NYSE & TSX: LAAC 14 Lithium Argentina has Acquired Strategic Assets at Competitive Prices Recent Transaction Perspectives Allkem Lithium Americas GanfengLithium Rio Tinto LithiumAmericas A Livent ARENA MINERALS LITHEA SENTIENT EQUITY PARTNERS MILLENNIAL LITHIUM Assets Multiple Operations Sal de la Puna Pozuelos-Pastos Grandes Rincon Pastos Grandes Announcement Date May 2023 December 2022 July 2022 December 2021 November 2021 Acquisition Value ~US$4.2 bn US$227 mm US$962 mm US$825 mm US$390 mm#15LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 NYSE & TSX: LAAC 15 Favorable Mining Jurisdiction With a Strong History of Investment Over US$10 billion committed in Argentina by global companies in recent years Supportive tax regulatory regime for mining ■ Mining companies pay a 3% royalty tax Locked tax rates in mining contracts for 30 years No tax levy on capital goods Companies may deduct double the amount spent on exploration from taxes Argentina leads the world in lithium exploration, with a -20% average allocation of the global exploration budget from 2012-2022 Posco 29-Jul-23 21-Mar-22 US$800 mm US$4 bn LithiumAmericas ('18 - '23) US$1.0 bn+ Livent 21-Feb-23 US$1.35 bn ZiJin 31-Dec-22 US$380 mm 10-Oct-21 US$766 mm Rio Tinto 21-Dec-21 26-Jul-23 US$825 mm US$335 mm GLENCORE 31-Jul-23 US$475 mm 西藏珠峰 TIBET SUMMIT 1-Jun-23 US$1.7 bn GanfengLithium 11-Jul-22 US$962 mm GLENCORE 26-Jun-23 US$400 mm BHP 28-Feb-22 US$79 mm STELLANTIS 27-Feb-23 US$155 mm Land concessions have no expiration and do not limit annual extraction Chevron 9-Jun-23 US$500 mm Argentina is a top five global producer of lithium with one of the largest lithium resource inventories in the world Source: Ministry of Economy (Argentina), S&P Market Intelligence Invested / Committed Capital#16LITHIUM ARGENTINA/CORPORATE PRESENTATION 2023 NYSE & TSX: LAAC 16 CONTACT INFORMATION Kelly O'Brien VP Investor Relations & ESG [email protected] www.lithiumamericas.com @Lithium_ARG#17LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 NYSE & TSX: LAAC 17 A APPENDIX#18LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Skilled Team, Applying Successful Experience to Current Operations and Development Projects NYSE & TSX: LAAC . JOHN KANELLITSAS Executive Director (Chair), President and Interim CEO 25+ years of investment banking and asset management experience Joined LAC as a Director in 2011 and was instrumental in building out the company ALEX SHULGA VP and CFO 18+ years experience of financial reporting, compliance, budgeting, financings, mergers & acquisitions Previously held position at PwC as a senior manager for audit and assurance practices MARIANO CHIAPPORI VP and COO 20+ years of experience in business operations and engineering Previously worked as a Global Director Manufacturing and Supply Chain of FMC (now Livent USA Corp.) and Operation Manager in Minera del Altiplano ☐ KELLY O'BRIEN VP, Investor Relations and ESG 12+ years of experience in the lithium industry, including former Head of Investor Relations at SQM Holds MBA from Questrom School of Business, Boston University with focus a on International Management IGNACIO CELORRIO EVP, Latin America 25+ years of experience in counseling legal and institutional affairs in the mining sector " Well-known leader in the mining sector in Argentina ■ JOSE AGGIO VP and Chief Human Resources Officer 25+ years of experience as a human resources professional in the mining sector, including Barrick Gold and YPF. Holds a law degree from the University of Buenos Aires CARLOS GALLI VP, Growth and Innovation 15+ years of leading and managing the development of various lithium brine operations in Argentina Previously worked for Rincón, LSC Lithium, SRK Consulting and Norlab, specializing in lithium brine processing TOM BENSON VP, Global Exploration 10+ years of experience in geology of critical mineral deposits (including lithium) and silicic caldera systems Holds Ph.D. in Volcanology and Economic Geology from Stanford University 18#19LITHIUM ARGENTINA / CORPORATE PRESENTATION 2023 Cauchari-Olaroz Project Timeline Exploration Program 2009 - 2011 Lithium Americas is Resource Estimate Incorporated 2009 2010 Lithium Americas Completes IPO 2011 Pilot Plant Complete 2012 2012 Environmental Permits Approved 2012 Feasibility Study Completed 2014-2016 POSCO Demo Plant LAC and SQM 50/50 JV 2016 Pond Construction Commences 2018 2017 Updated Feasibility Study on Stage 1 Ganfeng Investments US$160 mm in C-O 2019 2018 Begin Filling Ponds NYSE & TSX: LAAC JEMSE Exercises Participation Right 2020 51/49 JV Transaction with Ganfeng 2021 2023 First Lithium 19