Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC) is pleased to announce its 2024 production results for the Caucharí-Olaroz lithium brine operations  in Argentina and provide production guidance for 2025.

HIGHLIGHTS

• Achieved 2024 production guidance with approximately 25,400 tonnes of lithium carbonate produced.
• Production averaged 85% of design capacity during the fourth quarter of 2024.
• 2025 production guidance set at 30,000 – 35,000 tonnes of lithium carbonate.
• An updated technical report on Stage 1 of Caucharí-Olaroz was filed.
• Lithium Argentina will hold a special meeting of shareholders on January 17, 2025, to approve the redomiciling of the Company to Switzerland with amendments to certain resolutions outlined below.

Caucharí-Olaroz achieved 2024 production targets producing approximately 25,400 tonnes of lithium carbonate. Fourth quarter production volumes reached approximately 8,500 tonnes, a 25% increase compared to the third quarter of the year.

“We are exceptionally proud of our achievements this year, which reflect the outstanding performance of our team and our commitment to operational excellence,” commented Sam Pigott, Lithium Argentina’s President and CEO. “Our results reflect the dedication and collaboration of our technical teams in Argentina and abroad.”

“As we look ahead to 2025, our focus will shift towards improving the stability and consistency of our operations and further optimizing our cost profile. We look forward to developing our future growth plans this year and are excited to continue playing a key role in Argentina’s transformation as a global leader in the lithium industry.”

For 2025, Caucharí-Olaroz is expected to produce between 30,000 – 35,000 tonnes of lithium carbonate with a focus on optimizing operations to achieve higher production rates near nameplate capacity, more consistent quality and lower unit operating costs.

Updated Technical Report

The Company filed an updated technical report for Caucharí-Olaroz’ initial 40,000 tonnes per annum of lithium carbonate production. The Operation is owned by Ganfeng Lithium Co. Ltd, Lithium Argentina and Jujuy Energía y Minería Sociedad del Estado with 46.7%, 44.8% and 8.5% interest, respectively.

The Technical Report reflects development progress and updated operational, cost and economic parameters for the Operation as of December 31, 2024. The Company’s revised long-term operating cost estimate is approximately $6,543 per tonne of lithium carbonate based on Caucharí-Olaroz’ current performance. The Technical Report outlines an updated after-tax NPV_(8%) for Stage 1 estimated at $3.6 billion on a 100% basis using Benchmark Minerals Inc.’s most recent price forecast.

A full copy of the NI 43-101 Technical Report entitled “Operational Technical Report at the Cauchari-Olaroz Salars, Jujuy Province, Argentina”, with an effective date of December 31, 2024 is available at www.sedarplus.ca.

Upcoming Special Meeting of Shareholders

Lithium Argentina also announced today that it has adopted amendments to certain resolutions to be approved at its special meeting of shareholders to be held on January 17, 2025 to approve the redomiciling of the Company in Switzerland under the new name, Lithium Argentina AG, and ancillary matters.

The Board of Directors of the Company recommends that Shareholders vote IN FAVOR of redomiciling and the Ancillary Resolutions ahead of the proxy voting deadline on Wednesday, January 15, 2025 at 10:00 am PT.

At the Meeting, the Company will propose amendments to Ancillary Resolutions (d), (e), (f) and (g) outlined in its management information circular dated December 4, 2024. In keeping with Lithium Argentina’s commitment to both the best interests of shareholders and adherence to governance best practices, the foregoing amendments to the Ancillary Resolutions are as follows:

(d)   approval of the introduction of a capital band: The Company will amend the proposed Capital Band Resolution to lower the proposed maximum upper limit and lower limit of the capital band of the Company’s current share capital from 20% to 10% and reflect same in the proposed Articles of Association.

(e)   approval of the introduction of conditional capital for equity incentive plans: The Company will amend the proposed Equity Incentive Conditional Capital Resolution to lower the proposed maximum authorization to increase the conditional share capital for equity incentive plans of the Company from 15% of the Company’s current share capital to 10% and reflect same in the proposed Articles of Association.

(f)   approval of the introduction of conditional capital for financing purposes: The Company will amend the proposed Financing Conditional Capital Resolution to lower the maximum authorization to increase the conditional share capital for financing purposes of the Company from 20% of the Company’s current share capital to 10% and reflect same in the proposed Articles of Association.

(g)   approval of the new articles of association (general revision of the articles of association): The Company will amend the New Articles Resolution to adopt the proposed Articles of Association with the following amendments to Article 13(2) thereof to read as follows in order to define a five year time limit by which the Company will have authority to hold virtual shareholder meetings without further shareholder approval. Until 17 January 2030, the shareholders’ meetings may be held by electronic means without a venue.

With respect to the proposed Equity Incentive Conditional Capital Resolution, the Company clarifies that the conditional capital for equity incentive plans will be utilized to support issuances under its existing 8% rolling Equity Incentive Plan last approved by a vast majority of the votes cast by the Company’s shareholders at its 2024 annual shareholder meeting. The ability of the Company to adequately compensate its current and prospective officers, directors and employees by offering incentives aligning their interests with those of its shareholders is of paramount importance for the success of the Company and is in the best interest of the Company and its shareholders. In accordance with the requirements of the Toronto Stock Exchange, the Company does not issue securities-based compensation arrangements other than under its Equity Incentive Plan or other plans or arrangements as approved by shareholders. The allocation of shares for issuance under the Company’s Equity Incentive Plan is subject to reapproval by shareholders every three years in accordance with the TSX Company Manual.

In connection with the proposed Financing Conditional Capital Resolution, the Company wishes to clarify that approximately 8.4% of the conditional capital relates to supporting its existing obligations with respect to the issuance of common shares upon conversion of its currently outstanding 1.75% Convertible Senior Notes due 2027 and therefore does not constitute a new increase to its reserved share capital in respect to the convertible notes.

In line with Lithium Argentina’s commitment to both the best interests of shareholders and adherence to governance best practices, the Company is committed to conducting future shareholder meetings in a hybrid or in-person format. However, recognizing the importance of adaptability in extraordinary circumstances, such as pandemics, health emergencies, or other unforeseen external events, the Company will retain the flexibility to hold virtual-only meetings when necessary until January 17, 2030 in the event such circumstances arise.

In the event it holds a virtual meeting only in the future, the Company must ensure in accordance with Swiss law that shareholders will have the same rights participating electronically as they would have for an in-person meeting. Without limitation to the foregoing, as required by Article 701c – 701f of the Swiss Code of Obligations, the board of the Company will ensure that the identity of the participants is verified, that votes are transmitted in real-time, that shareholders are able to submit motions and participate in discussions, and that voting results cannot be manipulated. Consistent with our past practices, clear procedures will be set and disclosed in the Company’s future meeting materials to ensure that shareholders can effectively participate in the meetings and meaningfully communicate with the Company’s management and directors.

Meeting materials are available on Lithium Argentina’s website at http://lithium-argentina.com/investor-relations/Special-Meeting, and under the Company’s SEDAR+ and EDGAR profile at www.sedarplus.ca and www.sec.gov, respectively, before casting your vote.

Shareholders who have questions or require assistance in voting their shares are encouraged to contact Laurel Hill Advisory Group, the Company’s proxy solicitation agent, by telephone at 1-877-452-7184 (North American Toll Free) or 416-304-0211 (Collect Outside North America), or by email at assistance@laurelhill.com.

Technical Information

The Technical Report has been prepared by the following independent Qualified Persons:

Ernest Burga, P.Eng.

David Burga, P.Geo.

Daniel Weber, P.G., RM-SME

Anthony Sanford, Pr.Sci.Nat.

Marek Dworzanowski, CEng, PrEng.

The technical information in this news release with respect to Caucharí-Olaroz, has been reviewed and approved by Ernest Burga, P.Eng.

Further detailed information about the Caucharí-Olaroz, including a description of the key assumptions, parameters and risks associated with the information discussed in this news release is contained in the Technical Report.

ABOUT LITHIUM ARGENTINA

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Caucharí-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.