LAC

(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia, August 13, 2026--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas," "LAC" or the "Company") announced that it has filed its Quarterly Report on Form 10-Q, which includes the Company’s unaudited condensed consolidated interim financial statements for the three months ended June 30, 2026 ("Q2 2026"), and provided an update on its Thacker Pass lithium project in Humboldt County, Nevada ("Thacker Pass" or the "Project"). Jonathan Evans, President and Chief Executive Officer of Lithium Americas said, "We are safely accelerating construction toward peak activity and peak labor later this year, with mechanical completion still targeted for late 2027. More than 1,600 workers are on site today, with over 2,000 expected before the year’s end. Thacker Pass is reaching new vertical heights as structural steel and concrete work at the processing plant advances through second-floor installations. Across the site, we are transitioning into piping and electrical trades and are receiving more than 60 truckloads of equipment and materials each day. All off-site power modifications are complete, and we remain on track for energization in Q4 2026." Mr. Evans added, "Lithium is central to America's economic and national security, sustaining resilient military operations, powering essential civilian infrastructure, and underpinning the technologies driving modern economic growth, from consumer electronics to grid-scale energy storage. Securing a reliable domestic supply is essential to meeting rising electricity demand, strengthening our energy independence and ensuring the United States wins the global technology race. Thacker Pass is proud to be a critical part of making that happen." Q2 2026 AND SUBSEQUENT TO Q2 2026 HIGHLIGHTS As of June 30, 2026, the Company had approximately $1.3 billion total cash and restricted cash, including $530.3 million at the Thacker Pass joint venture ("JV") level. The Company continues to progress major construction of the processing plant at Thacker Pass Phase 1, targeting mechanical completion in late 2027. As of June 30, 2026: Long-lead equipment continued arriving at Thacker Pass and the fabrication yard in Winnemucca. Outstanding long-lead items are expected to be delivered throughout 2026, along with other equipment and construction materials. Development milestones achieved at Thacker Pass during Q2 2026 include: The following are expected development milestones for the second half of 2026: Construction at the Company’s Transload Terminal ("TLT") west of Winnemucca continues. In Q2 2026, the general site and railroad grading were completed and installation of rail stabilization (geo-membrane) and sub-ballast commenced. Completion of the TLT is targeted in 2027 to align with startup at Thacker Pass. The TLT is approximately 60 miles from Thacker Pass, adjacent to the rail line, and is intended to support operations by serving as a critical logistics hub for the operation’s reagents. During Q2 2026, the Company delivered a $5.0 million commitment to the Fort McDermitt Paiute and Shoshone Tribe’s Building Fund, in accordance with its obligations under the Community Benefits Agreement. The funds will support plans to rebuild a Travel Plaza, which was lost to fire in September 2020. An additional $0.4 million has been contributed to the tribe for workforce training, cultural monitoring and administrative purposes. CAPITAL EXPENDITURE AND 2026 CAPEX GUIDANCE As of June 30, 2026, a total of $1.8 billion of construction capital costs and other project-related costs had been capitalized, of which $1.6 billion is part of the total Capex estimate of $2.93 billion per the Company’s Technical Report. The Company continues to target a total Capex range of $1.3 billion to $1.6 billion for Thacker Pass Phase 1 for fiscal year 2026. The table below summarizes Capex in the three and six months ended June 30, 2026, cumulative Capex to June 30, 2026, as well as the Company’s 2026 Capex guidance. RESULTS OF OPERATIONS The selected consolidated financial information set out below has been derived from the Company's audited consolidated annual financial statements for the year ended December 31, 2025 ("FY 2025") and unaudited condensed consolidated interim financial statements for the three months ended June 30, 2026 ("Q2 2026") and should be read in conjunction with those consolidated financial statements and the related notes thereto. The Six Months Ended June 30, 2026 Compared with the Six Months Ended June 30, 2025 The following table provides a summary of the Company’s unaudited condensed consolidated interim statements of income (loss) for the six months ended June 30, 2026 ("YTD Q2 2026") compared with the six months ended June 30, 2025 ("YTD Q2 2025"). General and administrative expenses increased to $26.2 million in YTD Q2 2026 (YTD Q2 2025 - $14.4 million) due to increased hiring, share-based compensation, community investment, and regulatory and professional fees supporting expanded operations. Transaction costs decreased to $1.0 million in YTD Q2 2026 (YTD Q2 2025 - $17.6 million). YTD Q2 2026 costs primarily related to advisory and professional fees for the warrants the Company issued to the DOE to purchase up to 18,268,687 common shares ("LAC Warrant") and the warrants the JV issued to the DOE to purchase 8,656,509,695 non-voting units of the JV ("JV Warrant") issuances on January 30, 2026, while YTD Q2 2025 costs primarily related to Orion’s $250 million strategic investment (the "Orion Investment") and advisory fees due upon achieving the final investment decision ("FID") for Thacker Pass Phase 1. The LAC Warrant and the JV Warrant were initially recognized as financial liabilities on October 7, 2025. A $5.0 million loss on change in fair value of the LAC Warrant was recognized in YTD Q2 2026 (YTD Q2 2025 - $nil), reflecting the increase in the Company’s share price from $4.36 on December 31, 2025 to $4.87 on January 30, 2026, when the LAC Warrant was issued and reclassified to equity. A $9.9 million gain on change in fair value of the JV Warrant, including obligations under the Put, Call and Exchange Agreement, was recognized in YTD Q2 2026 (YTD Q2 2025 - $nil), primarily reflecting the decrease in share price from $4.36 on December 31, 2025 to $3.85 on June 30, 2026. A $20.0 million gain on change in fair value of the embedded derivative associated with the Notes (the "Embedded Derivative") was recognized in YTD Q2 2026 (YTD Q2 2025 - $6.8 million), primarily reflecting the decrease in the Company’s share price from $4.36 at December 31, 2025 to $3.85 at June 30, 2026. A $4.7 million loss on financial instruments measured at fair value was recognized in YTD Q2 2026 (YTD Q2 2025 - $2.2 million), primarily consisting of a $4.5 million loss on change in fair value of the Company’s investment in Ascend Elements, Inc. ("Ascend Elements") (YTD Q2 2025 - $1.8 million loss). During YTD Q2 2026, the Company determined the fair value of the Ascend Elements investment was $nil based on public disclosures indicating significant uncertainty regarding recovery. Other income for YTD Q2 2026 increased to $13.3 million (YTD Q2 2025 - $2.7 million), primarily due to higher interest income from increased balances in interest-generating bank accounts, driven largely by proceeds from the Company’s ATM programs. The Three Months Ended June 30, 2026 Compared with the Three Months Ended June 30, 2025 The following table provides a summary of the Company’s unaudited condensed consolidated interim statements of income (loss) for Q2 2026 compared with the three months ended June 30, 2025 ("Q2 2025"). General and administrative expenses increased to $15.1 million in Q2 2026 (Q2 2025 - $7.8 million) due to increased hiring, share-based compensation, community investment and regulatory and professional fees supporting expanded operations. Transaction costs decreased to $nil in Q2 2026 (Q2 2025 - $13.3 million). Q2 2025 costs primarily related to third-party transaction costs for the Orion Investment and advisory fees due upon achieving FID for Phase 1 at Thacker Pass. The JV Warrant was initially recognized as a financial liability on October 7, 2025. A $4.5 million gain on change in fair value of the JV Warrant, including obligations under the Put, Call and Exchange Agreement, was recognized in Q2 2026 (Q2 2025 - $nil), primarily reflecting the decrease in the Company’s share price from $3.95 on March 31, 2026 to $3.85 on June 30, 2026. A $5.7 million gain on change in fair value of the Embedded Derivative was recognized in Q2 2026 (Q2 2025 - $6.8 million), primarily reflecting the decrease in the Company’s share price from $3.95 at March 31, 2026 to $3.85 at June 30, 2026. Other income increased to $6.7 million in Q2 2026 (Q2 2025 - $1.4 million), primarily due to higher interest income from increased balances in interest-generating bank accounts, driven largely by proceeds from the Company’s ATM programs. Selected Financial Position Information At June 30, 2026, total assets increased by $956.9 million from December 31, 2025, driven primarily by a $373.6 million increase in cash and restricted cash and a $746.8 million net increase in mineral properties, plant and equipment, partially offset by a $157.2 million decrease in deferred financing costs. Cash and restricted cash increased primarily from DOE Loan advances and proceeds from the Company’s ATM programs, partially offset mainly by cash outflows related to Thacker Pass construction costs, general and administrative expenses, and transaction costs. DOE Loan advances are held in restricted bank accounts owned by Lithium Nevada LLC ("LN", a wholly owned subsidiary of Lithium Nevada Ventures LLC ("Lithium Nevada Ventures")), the JV between General Motors Holdings LLC ("GM") and the Company (together, the "JV Partners"), and managed by a collateral agent. Mineral properties, plant and equipment, net increased mainly due to continued development of Thacker Pass, including costs associated with completion of the WFH, on-going engineering and procurement activities, payments towards long-lead equipment as well as continued on-site construction works. In addition, in YTD Q2 2026, finance costs, related to Thacker Pass totaling $32.7 million including interest on the Orion Investment and DOE Loan advances, were capitalized. Deferred financing costs decreased due to reclassification of $157.2 million in unamortized costs related to the second and third DOE Loan advances. Upon signing the omnibus waiver, consent and amendment (the "OWCA") entered into by the Company and the DOE on October 7, 2025, $400.2 million in transaction costs were recorded as an asset. As funds are advanced, these costs are allocated to the DOE Loan liability proportionally and amortized as interest over the loan term using the effective interest method, then capitalized to Thacker Pass. At June 30, 2026, total liabilities increased by $593.9 million compared to December 31, 2025, primarily driven by the following: a $637.0 million increase in the DOE Loan, reflecting advances of $774.0 million and $17.4 million of interest costs, net of $157.2 million of amortized deferred financing costs; and an $83.8 million decrease in the LAC Warrant obligation, reflecting the $88.8 million fair value reclassified to equity on January 30, 2026, partly offset by a $5.0 million loss recognized for the fair value increase from December 31, 2025 to January 30, 2026. This news release should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 and annual report on Form 10-K for the year ended December 31, 2025, available on the Company’s issuer profile on EDGAR at www.sec.gov, SEDAR+ at www.sedarplus.ca and on the Company’s website at www.lithiumamericas.com. ABOUT LITHIUM AMERICAS Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and GM (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S. DOE and strategic investments from GM and Orion. The DOE holds the LAC Warrant to purchase common shares equivalent to a 5% equity stake of the Company as of January 30, 2026 (the "Issuance Date") and the JV Warrant to purchase a non-voting, non-transferable equity interest in the JV equivalent to a 5% interest as of the Issuance Date. Lithium Americas’ shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit www.lithiumamericas.com or follow @LithiumAmericas on social media. TECHNICAL INFORMATION The scientific and technical information in this news release has been reviewed and approved by Rene LeBlanc, PhD, SME, Vice President, Commercial and Product Strategy of the Company, and a "qualified person" as defined under National Instrument 43-101 and Subpart 1300 of Regulation S-K under the United States Securities Act of 1933, as amended. FORWARD-LOOKING STATEMENTS This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to herein as "forward-looking statements" ("FLS")). All statements, other than statements of historical fact, are FLS and can be identified by the use of statements that include, but are not limited to, words, such as "anticipate," "plan," "continue," "estimate," "expect," "may," "will," "project," "predict," "proposes," "potential," "target," "implement," "schedule," "forecast," "intend," "would," "could," "might," "should," "believe" and similar terminology, or statements that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. FLS in this news release include, but are not limited to: statements relating to the anticipated sources and uses of funds to complete project financing, the JV Transaction with GM (as defined herein), the DOE Loan (as defined herein), the Orion Investment (as defined herein), the LAC Warrant (as defined herein), the JV Warrant (as defined herein), the Put, Call and Exchange Agreement, and the Yorkville Debentures (as defined herein), including statements regarding satisfaction of draw down conditions on the DOE Loan, the availability and timing of delayed closings under the Yorkville Debentures, the Company’s ability to satisfy conditions to future delayed closings under the Yorkville Debentures, the anticipated use of proceeds from the Yorkville Debentures and the March 2026 ATM Program, expectations about the extent to which the JV Transaction, the DOE Loan, including any amendments thereto, the Orion Investment, the LAC Warrant, the JV Warrant, the Yorkville Debentures and cash on hand would fund the development and construction of Thacker Pass (as defined herein) on schedule or at all; project de-risking initiatives and the extent to which work to date has de-risked project execution; the expected operations, financial results and condition of the Company; expectations related to the construction build, job creation and nameplate capacity of Thacker Pass as well as other statements with respect to the Company’s future objectives and strategies to achieve these objectives, including the future prospects of the Company; the estimated cash flow, capitalization and adequacy thereof for the Company; the estimated costs of the development of Thacker Pass, including timing, progress, approach, continuity or change in plans, construction, commissioning, expected milestones, anticipated production and results thereof and expansion plans; cost and expected benefit of the transloading terminal; cost and expected benefit of the limestone quarry; anticipated timing to resolve, and the expected outcome of, any complaints or claims made or that could be made concerning the permitting process in the United States for Thacker Pass; the timely completion of environmental reviews and related consultations, and receipt or issuance of permits and approvals, in the United States for the Company’s development and resultant operations; capital expenditures and programs; estimates, and any change in estimates, of the mineral resources and mineral reserves at Thacker Pass; development of mineral resources and mineral reserves; the realization of mineral resources and mineral reserves estimates, including whether certain mineral resources will ever be developed into mineral reserves, and information and underlying assumptions related thereto; government regulation of mining operations and treatment under governmental and taxation regimes; the future price of commodities, including lithium; the creation of a battery supply chain in the United States to support industries and technologies dependent on lithium batteries, including the electric vehicle and battery energy storage system markets; the timing and amount of future production, currency exchange and interest rates; the Company’s ability to raise capital; expected expenditures to be made by the Company; statements relating to revised capital cost estimates, including statements regarding the definitive capital estimate and the expected timing of completion and potential outcomes thereof; ability to produce high purity battery grade lithium products; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the timing, cost, quantity, capacity and product quality of production at Thacker Pass; successful development of Thacker Pass, including successful results from the Company’s testing facility and third-party tests related thereto; statements with respect to the expected economics of Thacker Pass, including capital costs, operating costs, sustaining capital requirements, after tax net present value and internal rate of return, pricing assumptions, payback period, sensitivity analyses, net cash flows and life of mine; anticipated job creation; the expectation that the National Construction Agreement (Project Labor Agreement) with North America’s Building Trades Unions for construction of Phase 1 of Thacker Pass will minimize construction risk, ensure availability of skilled labor, address the challenges associated with Thacker Pass’s remote location and be effective in prioritizing employment of local and regional skilled craft workers, including members of underrepresented communities; overarching accessibility to a productive workforce; the expected workforce development training program being prepared with Great Basin College; the Company’s commitment to sustainable development, limiting the environmental impact at Thacker Pass and plans for phased reclamation during the life of mine, including use benefits of growth media; ability to achieve capital cost efficiencies; anticipated use of any future proceeds and earnings related to Thacker Pass; anticipated plans regarding the payment or non-payment of dividends, as well as other statements with respect to management’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. FLS involve known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. FLS reflect the Company’s current views about future events, and while considered reasonable by the Company as of the date of this news release, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions and other factors upon which such FLS are based include, without limitation: expectations regarding Phase 2 of Thacker Pass, including financing, and the absence of material adverse events affecting the Company during this time; the ability of the Company to perform conditions and meet expectations regarding the Company’s financial resources and future prospects; the ability to meet future objectives, priorities and anticipated milestones; a cordial business relationship between the Company and third-party strategic and contractual partners; the risk of general business and economic uncertainties and adverse market conditions; confidence that development, construction and operations at Thacker Pass will proceed as anticipated, including the impact of potential supply chain disturbances including but not limited to product availability, customs delays and shipping disruptions, especially with respect to steel, and the availability of equipment, labor and facilities necessary to complete development and construction of Thacker Pass and produce battery grade lithium; unforeseen technological, equipment and engineering problems; changes in general economic and geopolitical conditions, including as a result of regulatory changes by the current U.S. presidential administration, higher interest rates, the rate of inflation, a potential economic recession, ongoing conflict in the Middle East and potential changes in United States trade policy, including the imposition of tariffs and the resulting consequences on, among other things, the extractive resource industry, the green energy transition and industries and technologies dependent on lithium batteries, including the electric vehicle and battery energy storage system markets; uncertainties inherent to the feasibility studies and mineral resource and mineral reserve estimates; the mine processing facilities, based on the results of the testing facility and third-party tests, performing as expected; the ability of the Company to secure sufficient additional financing, advance and develop the Project, and to produce battery grade lithium; the respective benefits and impacts of Thacker Pass when production operations commence; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the Company’s ability to operate in a safe and effective manner, and without material adverse impact from the effects of climate change or severe weather conditions; reliability of technical data; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada; demand for lithium, including that such demand is supported by growth in the electric vehicle market, lithium-ion battery market, and battery energy storage system market; current technological trends; the impact of increasing competition in the lithium business, and the Company’s competitive position in the industry; continuing support of local communities and the Fort McDermitt Paiute and the Shoshone Tribe in relation to Thacker Pass, and continuing constructive engagement with these and other stakeholders, including any expected benefits of such engagement; risks related to cost, funding and regulatory authorizations to develop a workforce housing facility; the stable and supportive legislative, regulatory and community environment in the jurisdictions where the Company operates; impacts of inflation, deflation, currency exchange rates, interest rates and other general economic and stock market conditions; the impact of unknown financial contingencies, including litigation costs, environmental compliance costs and costs associated with the impacts of climate change, on the Company’s operations; increased attention to environmental, social, governance and safety and sustainability-related matters; risks related to the Company’s public statements with respect to such matters that may be subject to heightened scrutiny from public and governmental authorities related to the risk of potential "greenwashing," (i.e., misleading information or false claims overstating potential sustainability-related benefits); risks that the Company may face regarding potentially conflicting initiatives from certain U.S. state or other governments; estimates of and unpredictable changes to the market prices for lithium products; development and construction costs for Thacker Pass, and costs for any additional exploration work at the Project; estimates of mineral resources and mineral reserves, including whether mineral resources not included in mineral reserves will be further developed into mineral reserves; some of the modifying factors used to convert mineral resources to mineral reserves may change materially, and could materially impact the mineral reserve estimate; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of ongoing supply chain disruptions and availability of equipment and supplies on such timing; timely responses from governmental agencies responsible for reviewing and considering the Company’s permitting activities at Thacker Pass; availability of technology, including low carbon energy sources and water rights, on acceptable terms to advance Thacker Pass; government regulation of mining operations and mergers and acquisitions activity, and treatment under governmental, regulatory and taxation regimes; ability to realize expected benefits from investments in or partnerships with third parties; accuracy of development budgets and construction estimates; that the Company will meet its future objectives and priorities; the ability to satisfy production and lithium-recovery targets; that the Company will have access to adequate capital to fund its future projects and plans; that such future projects and plans will proceed as anticipated; compliance by the JV Partners (as defined herein), the DOE, Orion, and Yorkville with terms of agreements; the lack of any material disputes or disagreements between the JV Partners; the Company’s ability to satisfy conditions to future delayed closings under the Yorkville Debentures; the Company’s ability to satisfy its obligations under the Yorkville Debentures, including interest payments, redemption obligations and conversion obligations; fluctuations in the trading price of the Company’s common shares and the potential dilutive effect of conversions under the Yorkville Debentures, the Orion Investment and the Warrants; the regulation of the mining industry by various governmental agencies; as well as assumptions concerning general economic and industry growth rates, commodity prices, resource estimates, currency exchange and interest rates and competitive conditions. Although the Company believes that the assumptions and expectations reflected in such FLS are reasonable, the Company can give no assurance that these assumptions and expectations will prove to be correct. Readers are cautioned that the foregoing lists of factors are not exhaustive. There can be no assurance that FLS will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, readers are cautioned not to place undue reliance on this information, and that this information may not be appropriate for any other purpose, including investment purposes. The Company’s actual results could differ materially from those anticipated in any FLS as a result of the risk factors described under Part I, Item 1A, "Risk Factors" in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025, as amended, filed with the U.S. Securities and Exchange Commission and elsewhere throughout that report, and in the Company’s other continuous disclosure documents available on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. All FLS contained in this news release are expressly qualified by the risk factors set out in the aforementioned documents. Readers are further cautioned to review the full description of risks, uncertainties and management’s assumptions in the aforementioned documents and other disclosure documents available on SEDAR+ and on EDGAR. The Company does not undertake any obligation to update or revise any FLS, whether as a result of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260813986894/en/ Contacts INVESTOR CONTACT Virginia MorganVice President, Investor Relations and [email protected]

VANCOUVER, British Columbia, June 23, 2026--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") announced the results from its annual meeting of shareholders held on June 22, 2026 (the "Meeting"). Each of the following seven nominees was elected as a director of the Company: Final voting results on all matters voted on at the Meeting will be filed on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov) and posted to the Investors section of the Company’s website at www.lithiumamericas.com. ABOUT LITHIUM AMERICAS Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world and is owned by a joint venture between Lithium Americas (holding a 62% interest), and General Motors Holdings LLC (holding a 38% interest). Lithium Americas’ shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit www.lithiumamericas.com or follow @LithiumAmericas on social media. FORWARD-LOOKING STATEMENTS This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "FLS"). FLS can often be identified by words such as "anticipate," "designed," "estimate," "expect," "intend," "may," "plan," "target," "will" and similar expressions. FLS in this news release includes statements regarding the design and production capacity of Phase 1 of Thacker Pass, the targeted timing for mechanical completion and mineral resource and reserve estimates. FLS is based on certain assumptions, including that the Company will complete Phase 1 construction on schedule and within budget, that required permits and approvals will be maintained, that mineral resource and reserve estimates remain accurate, that financing will continue to be available on acceptable terms, and that general market and economic conditions will not materially deteriorate. FLS involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including the risks described in the Company’s continuous disclosure documents filed on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on FLS, which speak only as of the date of this news release. The Company does not undertake any obligation to update or revise any FLS except as required by applicable securities legislation. View source version on businesswire.com: https://www.businesswire.com/news/home/20260623461271/en/ Contacts INVESTOR CONTACTVirginia MorganVice President, Investor Relations and [email protected]

(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia, May 14, 2026--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") announced that it has filed its Quarterly Report on Form 10-Q, which includes the Company’s unaudited condensed consolidated interim financial statements ("Financials") for the three months ended March 31, 2026 ("Q1 2026"), and provided an update on its Thacker Pass lithium project in Humboldt County, Nevada ("Thacker Pass" or the "Project"). Jonathan Evans, President and Chief Executive Officer of Lithium Americas said, "Construction at Thacker Pass is accelerating toward mechanical completion in late 2027. There are now over 1,300 workers on site as of mid-May and over 2,000 expected at peak construction. In 2025, we emphasized de-risking project execution and made strategic decisions that have enabled us to focus on execution in 2026 – detailed engineering is almost complete, finances have been secured and global supply chain challenges are being well managed." Mr. Evans added, "At a moment when resilient domestic supply chains are more critical than ever, lithium stands out as a strategic resource underpinning both national security and a reliable energy future. We are grateful for the strong partnerships and support from leaders at the federal and state levels. Recent visits to Thacker Pass by U.S. Senators Catherine Cortez Masto and Jacky Rosen, Nevada Governor Joe Lombardo and the U.S. Department of Energy, underscore a shared commitment to strengthening American supply chains, advancing energy independence and creating meaningful American jobs." Q1 2026 AND SUBSEQUENT TO Q1 2026 HIGHLIGHTS As of March 31, 2026, the Company had approximately $1.2 billion total cash and restricted cash, including $529 million at the Thacker Pass joint venture ("JV") level. On January 26, 2026, the Company completed an at-the-market ("ATM") equity program established on November 13, 2025 (the "November 2025 ATM Program"). The Company issued and sold an aggregate total of 43.3 million common shares at an average price of $5.78 per share pursuant to the November 2025 ATM Program, for aggregate net proceeds of $246.7 million after sales agent’s commission and other expenses. Of these amounts, during Q1 2026, the Company issued and sold 32.5 million common shares at an average price of $5.92 per share, for aggregate net proceeds of $189.7 million after sales agent commission and other expenses. On February 24, 2026, the Company received its second advance on the U.S. Department of Energy (the "DOE") loan ("DOE Loan") of $432 million. On March 19, 2026, the Company entered into an ATM equity program, pursuant to which the Company may sell its common shares, no par value, up to a maximum aggregate offering price of $250 million (the "March 2026 ATM Program"). Use of net proceeds for the March 2026 ATM Program includes general corporate purposes, which may include funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness and additions to working capital. As of March 31, 2026, the Company did not issue or sell any common shares nor receive any net proceeds pursuant to the March 2026 ATM Program. Subsequent to March 31, 2026, the Company issued and sold an aggregate total of 2.3 million common shares at an average price of $5.20 per share pursuant to the March 2026 ATM Program, for aggregate net proceeds of $11.2 million after sales agent commission and other expenses. As of May 13, 2026, the Company had 351,062,478 shares issued and outstanding. On January 30, 2026 (the "Issuance Date"), pursuant to the omnibus waiver, consent and amendment (as amended, the "OWCA") entered into by the Company and the DOE on October 7, 2025, the Company issued to the DOE a warrant to purchase up to 18,268,687 common shares, which was equal to 5% of the Company’s outstanding total shares as of the Issuance Date, at an exercise price of $0.01 per share (the "LAC Warrant"), exercisable for ten years from the Issuance Date, subject to customary anti-dilution adjustments and other terms set forth in the LAC Warrant. Additionally, the JV issued to the DOE a warrant to purchase 8,656,509,695 non-voting units of the JV, which was equal to a 5% economic interest in the JV as of the Issuance Date, at an exercise price of $0.0001 per unit (the "JV Warrant"), exercisable for ten years from the Issuance Date, subject to customary anti-dilution adjustments and other terms set forth in the JV Warrant. The Company continues to progress major construction of the processing plant at Thacker Pass Phase 1, targeting mechanical completion in late 2027. As of March 31, 2026: A total of 2.43 million workhours completed at Thacker Pass without a serious injury or lost-time incident, and a total recordable incident frequency rate of 0.25. A total of $1.3 billion of construction capital costs and other project-related costs have been capitalized, of which $1.1 billion is part of the total capital expenditure ("Capex") estimate of $2.93 billion per the Company’s Technical Report entitled "NI 43-101 Technical Report on the Thacker Pass Project Humboldt County, Nevada, USA," effective December 31, 2024 ("Technical Report"). The Company continues to target a total capex range of $1.3 billion to $1.6 billion for Thacker Pass Phase 1 for fiscal year 2026. See the Capital Expenditure and 2026 Capex Guidance section below for more details. Detailed engineering design completed surpassed 95%, while procurement was over 70% complete, including the shipment of major plant materials and equipment. There were approximately 1,065 personnel on site, expected to increase to over 2,000 in the second half of 2026. There were over 1,000 workers residing at the Company’s all-inclusive housing facility for construction workers in Winnemucca (the "Workforce Hub" or "WFH"). Long-lead equipment has been arriving to either Thacker Pass or the fabrication yard in Winnemucca, including the 115KV Main Transformer, Auxiliary Boiler, Air Cooled Heat Exchangers, Fin Fan Cooler, Duplex Stack and Bicarbonate Reactors. Additional long-lead items that have started their delivery to site include the Thickener Steel and Shell Plates, Filter Presses, Steam Turbine Generator and SS Converter. Outstanding long-lead items are expected to be delivered throughout 2026, along with other equipment and construction materials. Over 75% of the structural steel for Thacker Pass, which is sourced from the United Arab Emirates, is in transit or has arrived on site at Thacker Pass or the laydown yard in Winnemucca. The Company and Bechtel have worked with the steel supplier to attempt to limit the effects of the Middle East conflict, including the closure of the Strait of Hormuz, to minimize impacts on the fabrication and shipment of steel to Thacker Pass. Predominantly, the Company has successfully re-routed steel through the Port of Jeddah. Development milestones achieved to date at Thacker Pass include: The first cable pulls on the module pipe racks commenced in March 2026. Structural steel at the Filter Building progresses, with the second floor being installed. Installation of key equipment commenced at the following facilities: Bicarbonate Reactors for the Lithium Carbonate Crystallizer, Pillers for Magnesium Sulfate, Air Compressors and Conveyor Tail Pulley’s for the Filter Building, Thickener Steel and Shell Plants in the Countercurrent Decantation and Run-of-Mine areas, and Fin Fan Coolers and SS Converter for the Sulfuric Acid Plant. Given the advanced level of detailed engineering, the Company has commenced a definitive capital estimate, targeting completion in the second half of 2026. Advanced levels of engineering and procurement is expected to enable the team to estimate remaining quantities and materials with higher confidence. The Company will use current data to assess remaining labor needs and productivity rates for the estimate and will incorporate recent unexpected developments including the implications of tariffs, the Middle East conflict impacts, fuel price increases and other inflationary increases that were not included in the total Capex estimate of $2.93 billion per the Company’s Technical Report. The total Capex estimate of $2.93 billion did not include any exposure to tariffs. The Company estimates the total potential exposure to tariffs for Thacker Pass Phase 1 construction costs to be approximately $80 million to $120 million, the majority of which is expected to be incurred during 2026. Work to enhance reliability for grid power from the local electric utility cooperative, by upgrading six regional substations and switching stations, was completed in March 2026, ahead of schedule. Construction at the Company’s Transload Terminal ("TLT") west of Winnemucca commenced in March 2026, with completion targeted in 2027 to align with start up at Thacker Pass. The TLT is approximately 60 miles from Thacker Pass, adjacent to the rail line, and is intended to support operations by serving as a critical logistics hub for the Project’s reagents. CAPITAL EXPENDITURE AND 2026 CAPEX GUIDANCE As of March 31, 2026, a total of $1.3 billion of construction capital costs and other project-related costs have been capitalized, of which $1.1 billion is part of the total Capex estimate of $2.93 billion per the Company’s Technical Report. The Company continues to target a total Capex range of $1.3 billion to $1.6 billion for Thacker Pass Phase 1 for fiscal year 2026. The table below summarizes Capex during the quarter ended March 31, 2026, cumulative Capex to March 31, 2026, as well as the Company’s 2026 Capex guidance. Capex Notes: FINANCIALS Selected consolidated financial information is presented as follows: During the three months ended March 31, 2026, net income increased to $4.6 million from a net loss of $11.5 million in the comparable year period, primarily due to a gain on the fair value of the embedded derivative associated with the senior unsecured convertible notes with an aggregate principal amount of $195.0 million (the "Notes") with fund entities managed by Orion Resource Partners LP (collectively, "Orion"). This non-cash, fair value gain on the embedded derivative primarily reflects the impact of a decrease in the Company’s share price from $4.36 at December 31, 2025 to $3.95 at March 31, 2026. Other income also increased, primarily driven by higher interest income due to higher balances in interest generating bank accounts, driven largely by proceeds from the ATM programs executed during the year ended December 31, 2025, as well as the quarter ended March 31, 2026. The impact of these items was partially offset by an increase in general and administration expenses, due to increased hiring, share-based compensation, community investment and regulatory and professional fees to support increased activities related to the Company’s operations. At March 31, 2026, total assets increased from December 31, 2025, as a result of cash raised as part of the Company’s ATM equity programs as well as restricted cash received from the Company’s second draw on the DOE Loan. Total assets also increased as a result of additions to mineral properties, plant and equipment from the continued development of Thacker Pass. At March 31, 2026, the increase in total long-term liabilities was mainly attributable to a $351.9 million increase in the DOE Loan ($432.0 million related to the second advance and interest costs of $6.6 million, net of $86.7 million amortized deferred financing costs). This was partly offset by a $10.6 million reduction in the Orion Notes and an $83.8 million decrease in the LAC Warrant obligation ($88.8 million fair value of the LAC Warrant reclassified to equity on January 30, 2026 partly offset by $5.0 million loss recognized for the fair value increase in the LAC Warrant from December 31, 2026 to January 30, 2026). This news release should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2026 and annual report on Form 10-K for the year ended December 31, 2025, available on the Company’s issuer profile on EDGAR at www.sec.gov, SEDAR+ at www.sedarplus.ca and on the Company’s website at www.lithiumamericas.com. ABOUT LITHIUM AMERICAS Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and General Motors Holdings LLC ("GM") (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S. DOE and strategic investments from GM and Orion. The DOE holds the LAC Warrant to purchase common shares equivalent to a 5% equity stake of the Company as of the Issuance Date and the JV Warrant to purchase a non-voting, non-transferable equity interest in the JV equivalent to a 5% interest as of the Issuance Date. Lithium Americas’ shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit www.lithiumamericas.com or follow @LithiumAmericas on social media. TECHNICAL INFORMATION The scientific and technical information in this news release has been reviewed and approved by Rene LeBlanc, PhD, SME, Vice President, Commercial and Product Strategy of the Company, and a "qualified person" as defined under National Instrument 43-101 and Subpart 1300 of Regulation S-K under the United States Securities Act of 1933, as amended. FORWARD-LOOKING STATEMENTS This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to herein as "forward-looking statements" ("FLS")). All statements, other than statements of historical fact, are FLS and can be identified by the use of statements that include, but are not limited to, words, such as "anticipate," "plan," "continue," "estimate," "expect," "may," "will," "project," "predict," "proposes," "potential," "target," "implement," "schedule," "forecast," "intend," "would," "could," "might," "should," "believe" and similar terminology, or statements that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. FLS in this news release include, but are not limited to: statements relating to the anticipated sources and uses of funds to complete project financing; statements relating to the JV and the DOE Loan, the strategic investment from Orion for the development and construction of the Thacker Pass, the LAC Warrant and the JV Warrant, including statements regarding satisfaction of draw down conditions on the DOE Loan expectations about the extent to which the JV Transaction, the DOE Loan, including any amendments thereto, the investment from Orion, the LAC Warrant, the JV Warrant and cash on hand would fund the development and construction of Thacker Pass on schedule or at all; project de-risking initiatives and the extent to which work to date has de-risked project execution; the expected operations, financial results and condition of the Company; expectations related to the construction build, job creation and nameplate capacity of Thacker Pass as well as other statements with respect to the Company’s future objectives and strategies to achieve these objectives, including the future prospects of the Company; the estimated cash flow, capitalization and adequacy thereof for the Company; the estimated costs of the development of Thacker Pass, including timing, progress, approach, continuity or change in plans, construction, commissioning, expected milestones, anticipated production and results thereof and expansion plans; cost and expected benefits of the transloading terminal; cost and expected benefit of the limestone quarry; anticipated timing to resolve, and the expected outcome of, any complaints or claims made or that could be made concerning the permitting process in the U.S. for Thacker Pass; the timely completion of environmental reviews and related consultations, and receipt or issuance of permits and approvals, in the U.S. for the Company’s development and resultant operations; capital expenditures and programs; estimates, and any change in estimates, of the mineral resources and mineral reserves at Thacker Pass; development of mineral resources and mineral reserves; the realization of mineral resources and mineral reserves estimates, including whether certain mineral resources will ever be developed into mineral reserves, and information and underlying assumptions related thereto; government regulation of mining operations and treatment under governmental and taxation regimes; the future price of commodities, including lithium; the creation of a battery supply chain in the U.S. to support the electric vehicle market; the timing and amount of future production, currency exchange and interest rates; the Company’s ability to raise capital; expected expenditures to be made by the Company; statements relating to revised capital cost estimates; ability to produce high purity battery grade lithium products; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the timing, cost, quantity, capacity and product quality of production at Thacker Pass; successful development of Thacker Pass, including successful results from the Company’s testing facility and third-party tests related thereto; statements with respect to the expected economics of Thacker Pass, including capital costs, operating costs, sustaining capital requirements, after tax net present value and internal rate of return, pricing assumptions, payback period, sensitivity analyses, net cash flows and life of mine; anticipated job creation of the workforce hub; the expectation that the National Construction Agreement (Project Labor Agreement) with North America’s Building Trades Unions for construction of Phase 1 of Thacker Pass will minimize construction risk, ensure availability of skilled labor, address the challenges associated with Thacker Pass’s remote location and be effective in prioritizing employment of local and regional skilled craft workers, including members of underrepresented communities; overarching accessibility to a productive workforce; the expected workforce development training program being prepared with Great Basin College; the Company’s commitment to sustainable development, limiting the environmental impact at Thacker Pass and plans for phased reclamation during the life of mine including use benefits of growth media; ability to achieve capital cost efficiencies; anticipated use of any future proceeds and earnings related to Thacker Pass; as well as other statements with respect to management’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. FLS involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. FLS reflects the Company’s current views about future events, and while considered reasonable by the Company as of the date of this news release, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions and other factors upon which such FLS is based include, without limitation: expectations regarding Phase 2 of Thacker Pass, including financing, and the absence of material adverse events affecting the Company during this time; the ability of the Company to perform conditions and meet expectations regarding the Company’s financial resources and future prospects; the ability to meet future objectives, priorities and anticipated milestones; a cordial business relationship between the Company and third-party strategic and contractual partners; the risk of general business and economic uncertainties and adverse market conditions; confidence that development, construction and operations at Thacker Pass will proceed as anticipated, including the impact of potential supply chain disturbances including but not limited to product availability, customs delays and potential shipping disruptions, especially with respect to steel, and the availability of equipment, labor and facilities necessary to complete development and construction of Thacker Pass and produce battery grade lithium; unforeseen technological, equipment and engineering problems; changes in general economic and geopolitical conditions, including as a result of regulatory changes by the current U.S. presidential administration, higher interest rates, the rate of inflation, a potential economic recession, ongoing conflict in the Middle East and potential changes in U.S. trade policy, including the imposition of tariffs and the resulting consequences on, among other things, the extractive resource industry, the green energy transition and the electric vehicle market; uncertainties inherent to the feasibility studies and mineral resource and mineral reserve estimates; the mine processing facilities, based on the results of the testing facility and third-party tests, performing as expected; the ability of the Company to secure sufficient additional financing, advance and develop the Project, and to produce battery grade lithium; the respective benefits and impacts of Thacker Pass when production operations commence; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the Company’s ability to operate in a safe and effective manner, and without material adverse impact from the effects of climate change or severe weather conditions; reliability of technical data; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada; demand for lithium, including that such demand is supported by growth in the electric vehicle market, lithium-ion battery market and battery energy storage system market; current technological trends; the impact of increasing competition in the lithium business, and the Company’s competitive position in the industry; continuing support of local communities and the Fort McDermitt Paiute and the Shoshone Tribe in relation to Thacker Pass, and continuing constructive engagement with these and other stakeholders, including any expected benefits of such engagement; risks related to cost, funding and regulatory authorizations to develop a workforce housing facility; the stable and supportive legislative, regulatory and community environment in the jurisdictions where the Company operates; impacts of inflation, deflation, currency exchange rates, interest rates and other general economic and stock market conditions; the impact of unknown financial contingencies, including litigation costs, environmental compliance costs and costs associated with the impacts of climate change, on the Company’s operations; increased attention to environmental, social, governance and safety and sustainability-related matters; risks related to the Company’s public statements with respect to such matters that may be subject to heightened scrutiny from public and governmental authorities related to the risk of potential "greenwashing," (i.e., misleading information or false claims overstating potential sustainability-related benefits); risks that the Company may face regarding potentially conflicting initiatives from certain U.S. state or other governments; estimates of and unpredictable changes to the market prices for lithium products; development and construction costs for Thacker Pass, and costs for any additional exploration work at the Project; estimates of mineral resources and mineral reserves, including whether mineral resources not included in mineral reserves will be further developed into mineral reserves; some of the modifying factors used to convert mineral resources to mineral reserves may change materially, and could materially impact the mineral reserve estimate; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of ongoing supply chain disruptions and availability of equipment and supplies on such timing; timely responses from governmental agencies responsible for reviewing and considering the Company’s permitting activities at Thacker Pass; availability of technology, including low carbon energy sources and water rights, on acceptable terms to advance Thacker Pass; government regulation of mining operations and mergers and acquisitions activity, and treatment under governmental, regulatory and taxation regimes; ability to realize expected benefits from investments in or partnerships with third parties; accuracy of development budgets and construction estimates; that the Company will meet its future objectives and priorities; the ability to satisfy production and lithium-recovery targets; that the Company will have access to adequate capital to fund its future projects and plans; that such future projects and plans will proceed as anticipated; compliance by joint venture partners, DOE and Orion with terms of agreements; the lack of any material disputes or disagreements between joint venture partners; the regulation of the mining industry by various governmental agencies; as well as assumptions concerning general economic and industry growth rates, commodity prices, resource estimates, currency exchange and interest rates and competitive conditions. Although the Company believes that the assumptions and expectations reflected in such FLS are reasonable, the Company can give no assurance that these assumptions and expectations will prove to be correct. Readers are cautioned that the foregoing lists of factors are not exhaustive. There can be no assurance that FLS will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, readers are cautioned not to place undue reliance on this information, and that this information may not be appropriate for any other purpose, including investment purposes. The Company’s actual results could differ materially from those anticipated in any FLS as a result of the risk factors described under Part I, Item 1A, "Risk Factors" in the Company’s Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission and elsewhere throughout that report, and in the Company’s other continuous disclosure documents available on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. All FLS contained in this news release are expressly qualified by the risk factors set out in the aforementioned documents. Readers are further cautioned to review the full description of risks, uncertainties and management’s assumptions in the aforementioned documents and other disclosure documents available on SEDAR+ and on EDGAR. The Company does not undertake any obligation to update or revise any FLS, whether as a result of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260514324830/en/ Contacts INVESTOR CONTACT Virginia Morgan Vice President, Investor Relations and ESG +1-778-726-4070 [email protected]

Interested in Lithium Americas (Argentina) Corp.? Here are five stocks we like better. Caucharí-Olaroz ran near nameplate capacity in Q1, producing about 9,700 tonnes of lithium carbonate and delivering adjusted EBITDA of $106 million, up sharply from $30 million in the prior quarter. The operation’s cash generation improved as realized prices rose to nearly $17,000 per tonne and operating cash costs fell to just under $5,400 per tonne, with management saying more than 90% of EBITDA should convert to free cash flow this year. Management remains focused on growth, including Stage 2 expansion and the longer-term PPG project, while also considering a secondary ASX listing to broaden the investor base without raising capital. 3 lithium stocks at rock bottom prices for EV believers Lithium Americas (Argentina) (NYSE:LAAC) reported a stronger first quarter for 2026, with Chief Executive Officer Sam Pigott saying the company’s Caucharí-Olaroz lithium operation continued to run near design capacity while beginning to generate “meaningful cash flow.” On the earnings call, Pigott said Caucharí-Olaroz produced about 9,700 tonnes of lithium carbonate during the quarter, averaging approximately 97% of nameplate capacity. He said the operation has been able to sustain that level for the past two quarters. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? Operating cash costs declined to just under $5,400 per tonne in the quarter, a level Pigott said makes Caucharí-Olaroz “one of the lowest cost lithium operations globally.” Realized prices rose to just under $17,000 per tonne in the first quarter from just over $9,000 per tonne in the fourth quarter of 2025. The combination of higher realized prices, stable production and lower costs drove adjusted EBITDA to $106 million in the quarter, compared with $30 million in the prior quarter. The adjusted figure primarily excludes non-cash foreign exchange fluctuations, according to Pigott. → MercadoLibre Boldly Invests in Growth: Discount Deepens Pigott said the project has distributed about $100 million in cash since the beginning of the year, including $48 million attributable to Lithium Argentina’s share. He said those distributions strengthen the balance sheet and demonstrate the operation’s cash-generating capacity. Management said there is typically about a two-month lag between when sales are made and when cash is received at the operation. Pigott said the company expects more than 90% of EBITDA to convert to free cash flow this year, with that cash flow becoming more visible in the second and third quarters. → MP Materials Is Quietly Building a Rare Earth Powerhouse In response to a question from Canaccord analyst Anthony Taglieri, Pigott said the priority for cash generated at the joint venture would be preparing for the Stage 2 expansion, followed by additional cash distributions. He said the operation’s project-level debt profile has improved and described it as “very low cost,” with net debt running at less than 0.5 times annualized first-quarter EBITDA. For 2026, Lithium Argentina maintained production guidance of 35,000 to 40,000 tonnes. Pigott said the guidance includes flexibility as the company optimizes production this year while considering actions to support higher sustained production in future years. Pigott said the company is seeing a more constructive pricing environment, supported by stronger energy storage demand and an improved outlook for electric vehicles, including commercial vehicles. He also cited recent oil market developments and improvements in battery cost, range and charging performance. Based on recent lithium prices of roughly $20,000 to $30,000 per tonne, Pigott said Caucharí-Olaroz could generate approximately $460 million to $630 million of EBITDA in 2026 on a 100% basis. He said those figures include the company’s current pricing discount. During the call, BMO Capital Markets analyst Evan McCaul asked about pricing discounts. Pigott said first-quarter realized pricing reflected a 6% to 7% discount to reference prices excluding Chinese VAT. He said there is room for improvement as product consistency and quality evolve, and he noted that the longer-term objective with partner Ganfeng is to supply lithium chemicals directly to customers without going through China. Asked by Deutsche Bank analyst Corinne Blanchard about the direction of lithium prices, Pigott declined to provide a detailed short-term forecast, but said the company’s read-through from Ganfeng is that the market is “extremely tight.” He said pricing had continued to climb since the first quarter and that management felt “very good” about the second quarter and the rest of the year. Pigott said the company made “substantial progress” during the quarter on its Stage 2 development plan at Caucharí-Olaroz, which targets an additional 45,000 tonnes per year of production capacity. One key milestone is approval of the company’s RIGI application, which Pigott said was filed late last year and could be approved as early as this quarter. Environmental permitting remains another key step. Pigott said the process is supported by an updated resource estimate and a basin-wide hydrogeological model. In the Q&A, he said a full final investment decision depends on environmental permits, which he described as “really a 2027 event,” although RIGI approval could help accelerate the permitting process. He said 2026 capital spending related to accelerating Stage 2 would be “fairly immaterial.” Pigott also discussed PPG, the company’s longer-term growth platform in Argentina. He said a scoping study released late last year outlined a phased development plan targeting up to 150,000 tonnes of lithium carbonate production over time, beginning with an initial 50,000-tonne phase. The company is working with Ganfeng on the possibility of bringing in a minority investor at the project level. Pigott said the company has been pleased with the level and breadth of interest from global groups seeking exposure to large-scale, low-cost lithium brine supply. He said the combined PPG assets have a historical book value of $1.7 billion based on investments made, while the development plan shows a range of net present value estimates of $6 billion to $8 billion. Pigott said the company is monitoring the situation in the Middle East, but has seen limited impact so far on costs or the availability of key supplies such as soda ash. He said Caucharí-Olaroz relies primarily on solar evaporation, does not use an energy-intensive process, has minimal diesel requirements and does not require sulfuric acid. Direct diesel consumption represents less than 3% of direct operating costs, he said. Asked by HSBC analyst Ishan Jain whether costs could fall further, Pigott said the $5,400-per-tonne figure reflected the company’s existing cost structure at nameplate capacity. He said there may be longer-term opportunities to improve recoveries and optimize the plant, but management is maintaining that cost assumption for now. The company is also considering a secondary listing on the Australian Securities Exchange. Pigott said the potential ASX listing is intended to broaden market visibility and the investor base, not to raise capital. He said the company is not planning an IPO or financing in connection with the listing and has no plans to remove its New York Stock Exchange listing. Asked about the Toronto Stock Exchange listing, Pigott said the company is still evaluating the pros and cons and would provide updates in the coming months. Lithium Americas (Argentina) is a publicly traded corporation on the New York Stock Exchange under the symbol LAAC, created to advance the Cauchari-Olaroz lithium brine project in Argentina’s Jujuy Province. The company is focused on the exploration, development, and eventual production of battery-grade lithium carbonate, a critical input for electric vehicle batteries and grid-scale energy storage systems. Utilizing proprietary brine extraction and processing techniques, Lithium Americas (Argentina) aims to deliver a reliable supply of lithium into global clean-energy supply chains. The Cauchari-Olaroz project lies at over 4,000 meters above sea level within the Lithium Triangle, a region spanning Argentina, Bolivia and Chile that contains some of the world’s richest lithium reserves. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Lithium Americas (Argentina) Q1 Earnings Call Highlights" was originally published by MarketBeat. 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The Mosaic Company MOS is set to release first-quarter 2026 results before the opening bell on May 11. Mosaic beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters, and missed it twice. It delivered a trailing four-quarter negative earnings surprise of around 11.6%, on average. The company is expected to have benefited from favorable demand for phosphate and potash, higher fertilizer prices and actions to improve its cost structure in the first quarter amid headwinds from input cost inflation. MOS's shares are down 26.3% in the past year compared with the Zacks Fertilizers industry’s 19.4% rise. Image Source: Zacks Investment Research Let’s see how things are shaping up for this announcement. The Zacks Consensus Estimate for first-quarter consolidated revenues for MOS is currently pegged at $2,749.3 million, reflecting a year-over-year increase of 4.9%. Strong demand for fertilizers is expected to have aided Mosaic’s volumes in the first quarter. Attractive farm economics continue to drive demand for fertilizers globally. Farmer economics remain favorable in most global growing regions due to strong crop demand and affordable inputs. The phosphate market is benefiting from higher global demand and low producer and channel inventories. Demand for grains and oilseeds remains high globally. Improved farmer affordability is also driving demand for fertilizers. Our estimate for consolidated sales volumes for the first quarter is 6.1 million tons, suggesting a 5% year over year rise. MOS’s actions to improve its operating cost structure through transformation plans are also expected to have aided its profitability. Mosaic remains on track with its cost-reduction plan, which is expected to drive $250 million in run-rate cost reductions by the end of 2026, having already achieved $150 million in cost reduction targets in 2025, mostly in Fertilizantes. The additional cost reductions are expected to be realized through optimization of the supply chain, automation of administrative functions, absorption of fixed costs and operational cost cuts. Higher fertilizer prices are also expected to have supported the company’s first-quarter performance. Strong demand and supply tightness have led to an uptick in fertilizer prices, with phosphate prices seeing a notable increase. Prices were driven by solid agricultural demand in major markets, China’s export restrictions, U.S. tariffs and higher costs of inputs. The upward momentum in fertilizer prices continues this year. Our estimate for the average selling price for the Phosphate unit is pegged at $653 per ton, indicating a 3.3% year over year increase. The same for the Potash unit stands at $260 per ton, suggesting an 11% year over year rise. Mosaic uses sulfur and ammonia as key inputs for the production of phosphate. Supply disruptions contributed to the rise in prices of both sulfur and ammonia last year. Plant shutdowns and maintenance led to a tight supply of these raw materials, which, coupled with strong demand, pushed up their prices. Higher raw material costs led to an increase in the company’s production costs. The impacts of raw material inflation are likely to reflect in the company’s margins in the first quarter. MOS has witnessed a sharp increase in sulfur price since late 2025, which is expected to have weighed on phosphate margins in the first quarter. Mosaic, last month, announced that it will idle its Araxa Mining and Chemical Complex and suspend mining operations at the Patrocínio Complex in Brazil as part of a strategic effort to streamline operations and improve cost efficiency. The company expects these actions to reduce its annual phosphate production at Mosaic Fertilizantes by approximately 1 million tons, reflecting a meaningful decline in Brazilian output. Mosaic intends to pursue the sale of its Araxa assets, signaling a broader portfolio optimization strategy focused on higher-return operations. The company anticipates a pre-tax charge of $350-$400 million for the first quarter of 2026, including $275 million to $300 million in asset impairments and the remainder related to severance and contract termination costs. Some impacts of these charges are expected to reflect on MOS’s first-quarter results. The Mosaic Company price-eps-surprise | The Mosaic Company Quote Our proven model does not conclusively predict an earnings beat for Mosaic this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here. Earnings ESP: Earnings ESP for MOS is -7.50%. The Zacks Consensus Estimate for the first quarter is currently pegged at 20 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Zacks Rank: MOS currently carries a Zacks Rank #3. Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter: Lithium Americas Corp. LAC, expected to release earnings on May 21, has an Earnings ESP of +15.23% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. The consensus estimate for LAC’s earnings for the first quarter is currently pegged at a loss of 7 cents. Wheaton Precious Metals Corp. WPM, scheduled to release earnings on May 7, has an Earnings ESP of +7.44% and carries a Zacks Rank #3 at present. The consensus mark for WPM’s first-quarter earnings is currently pegged at $1.15. Barrick Mining Corporation B, slated to release earnings on May 11, has an Earnings ESP of +0.56%. The Zacks Consensus Estimate for B's earnings for the first quarter is currently pegged at 74 cents. B currently carries a Zacks Rank #3. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Mosaic Company (MOS) : Free Stock Analysis Report Barrick Mining Corporation (B) : Free Stock Analysis Report Wheaton Precious Metals Corp. (WPM) : Free Stock Analysis Report Lithium Americas Corp. (LAC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia, March 19, 2026--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") announced that it has filed its Annual Report on Form 10-K, which includes the Company’s audited consolidated financial statements for the year ended December 31, 2025, and provided an update on its Thacker Pass lithium project in Humboldt County, Nevada ("Thacker Pass" or the "Project"). Jonathan Evans, President and Chief Executive Officer of Lithium Americas said, "2025 marked a transformative year for Thacker Pass. Construction is advancing at full pace, and we are carrying that strong momentum into 2026. We are grateful for the continued support of the U.S. Administration and the Department of Energy. With the second loan drawdown in February 2026, we have meaningfully de-risked the Project and reinforced our path forward. This investment reflects our shared commitment to rebuilding critical mineral supply chains here at home and reducing reliance on foreign sources." "Construction at Thacker Pass is progressing rapidly, with safety as our highest priority. Peak construction activity is expected in 2026, and our workforce continues to expand, with approximately 1,800 skilled craftspeople anticipated on site by late 2026. We remain on track for mechanical completion of Phase 1 in late 2027, positioning Thacker Pass to play a central role in securing America’s energy and national security future. Together with our partners, we are advancing energy independence, strengthening domestic supply chains and building a more resilient future." Q4 2025 AND SUBSEQUENT TO Q4 2025 FINANCIAL AND CORPORATE HIGHLIGHTS As of December 31, 2025, the Company had approximately $905.6 million in total cash and restricted cash, including $412.6 million at the Thacker Pass joint venture ("JV") level. During the year ended December 31, 2025, $611.6 million of construction capital costs and other project-related costs were capitalized. To December 31, 2025, a total of $982.8 million of construction capital costs and other project-related costs have been capitalized. See the Capital Expenditure and 2026 Capex Guidance section below for more details. On October 7, 2025, the Company and the U.S. Department of Energy ("DOE") entered into an omnibus waiver, consent and amendment (the "OWCA") for certain amendments to the Company’s $2.23 billion loan ("DOE Loan"). Pursuant to the OWCA, on January 30, 2026 (the "Issuance Date"), the Company issued to the DOE: (a) warrants to purchase common shares of the Company, no par value ("Common Shares") for a 5% equity stake in the Company at an exercise price of $0.01 per share (the "LAC Warrants") and (b) warrants to purchase a non-voting, non-transferable equity interest of the JV for a 5% economic stake in the JV (the "JV Units") at an exercise price of $0.0001 per unit (the "JV Warrants"). On January 30, 2026, the JV, General Motors Holdings LLC ("GM") and the DOE entered into a Put, Call, Exchange Agreement (the "Put, Call and Exchange Agreement"). As of March 18, 2026, the LAC Warrants and the JV Warrants were not exercised. The Company received its first advance on the DOE Loan of $435 million on October 20, 2025 and its second advance on the DOE Loan of $432 million on February 24, 2026. During 2025, the Company entered into three separate at-the-market ("ATM") equity programs, the last of which was completed in January 2026. Under these programs, during the year ended December 31, 2025, the Company sold 68.2 million common shares, at an average price of $5.98 per share, for aggregate net proceeds of $401.2 million after sales agent’s commission and other expenses. Subsequent to December 31, 2025, the last ATM Program was completed, and the Company sold an additional 32.5 million common shares, at an average price of $5.92 per share, for net proceeds of $189.7 million after sales agent's commission and other expenses. On October 10, 2025 and October 28, 2025, fund entities managed by Orion Resource Partners LP (collectively, "Orion") elected to convert a total of $97.5 million, of the original $195 million of senior unsecured convertible notes issued on April 1, 2025 (the "Notes") in accordance with the terms of the Notes. Following the conversions, total future interest payable under the Notes has been reduced pro rata. Q4 2025 PROJECT AND CONSTRUCTION HIGHLIGHTS The Company continues to progress major construction at Thacker Pass Phase 1, targeting mechanical completion in late 2027. A detailed project update, including construction and operations and business readiness ("OBR") highlights, was released on February 19, 2026 entitled "Lithium Americas Provides a Project Update and 2026 Capex Guidance for Thacker Pass". Construction milestones achieved in Q4 2025 include: As of December 31, 2025, a total of $982.8 million of construction capital costs and other project-related costs have been capitalized, of which $862.6 million is part of the total capital expenditure ("Capex") estimate of $2.93 billion per the Company’s Technical Report entitled "NI 43-101 Technical Report on the Thacker Pass Project Humboldt County, Nevada, USA," effective December 31, 2024 ("Technical Report"). The Company is targeting a total Capex range of $1.3 billion to $1.6 billion for Thacker Pass Phase 1 for fiscal year 2026. See the Capital Expenditure and 2026 Capex Guidance section below for more details. As of December 31, 2025, detailed engineering design was 93% complete and procurement was 60% complete. Manufacturing of all long-lead equipment awarded in Q4 2024 was fabricated throughout 2025 and is expected to be delivered to either Thacker Pass or the fabrication yard in Winnemucca throughout the first half of 2026, along with other equipment and construction materials. Over 60% of the structural steel for Thacker Pass, which is sourced from the United Arab Emirates, is safely in transit or has arrived on site at Thacker Pass or the laydown yard in Winnemucca. The Company and Bechtel are actively monitoring Middle East conditions with the steel supplier in an effort to prevent any impact on the fabrication and shipment of steel to Thacker Pass. At the end of December 2025, there were approximately 950 personnel on site at Thacker Pass, including approximately 740 manual craft and 210 additional site workers. The number of personnel is expected to increase to approximately 1,800 at peak construction in late 2026. CAPITAL EXPENDITURE AND 2026 CAPEX GUIDANCE As of December 31, 2025, a total of $982.8 million of construction capital costs and other project-related costs have been capitalized, of which $862.6 million is part of the total Capex estimate of $2.93 billion per the Company’s Technical Report. A targeted total Capex range of $1.3 to $1.6 billion for fiscal year 2026 remains unchanged from the Company’s new release dated February 19, 2026 entitled "Lithium Americas Provides a Project Update and 2026 Capex Guidance for Thacker Pass." The table below summarizes Capex cumulative to December 31, 2025 as well as 2026 Capex guidance. FINANCIALS Selected consolidated financial information is presented as follows: During the year ended December 31, 2025, net loss increased from the year ended December 31, 2024, partially related to higher general and administrative expenses due to increased hiring, professional fees and office and administration fees to support increased activities related to ongoing construction at Thacker Pass and increased reporting obligations associated with the DOE Loan and formation of the JV. In addition, as part of its commitment to the construction of Thacker Pass, the Company made a $14.1 million contribution toward funding the construction of the new Orovada K-8 school. Further, transaction costs increased and were primarily related to advisory and professional fees associated with the amendment to the DOE Loan and advisory fees due upon achieving the final investment decision for Thacker Pass Phase 1. At December 31, 2025, total assets increased, including due to cash and restricted cash received, primarily from the receipt of funds drawn under the DOE Loan, the Orion Investment and proceeds received from the Company’s ATM programs. Mineral properties, plant and equipment increased due to continued development of Thacker Pass, including costs associated with completion of the first phase of the Workforce Hub ("WFH"), engineering, procurement of raw materials, payments towards long-lead equipment as well as continued on-site construction works. At December 31, 2025, total liabilities increased, including due to amounts recognized for the Orion Notes and Production Prepayment Agreement, the DOE Loan and the recognition of warrant obligations associated with the OWCA. In addition, accounts payable as well as accrued liabilities increased as a result of a change in timing of payments compared to December 31, 2024. This news release should be read in conjunction with the Company’s annual report on Form 10-K for the year ended December 31, 2025, available on the Company’s issuer profile on EDGAR at www.sec.gov, SEDAR+ at www.sedarplus.ca and on the Company's website at www.lithiumamericas.com. ABOUT LITHIUM AMERICAS Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and General Motors Holdings LLC (GM) (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S. DOE and strategic investments from GM and Orion Resource Partners LP. The DOE holds Company Warrants to purchase common shares of the Company for a 5% equity stake and JV Warrants to purchase a 5% non-voting, non-transferable equity interest in the JV. Lithium Americas’ shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit www.lithiumamericas.com or follow @LithiumAmericas on social media. TECHNICAL INFORMATION The scientific and technical information in this news release has been reviewed and approved by Rene LeBlanc, PhD, SME, Vice President, Commercial and Product Strategy of the Company, and a "qualified person" as defined under National Instrument 43-101 and Subpart 1300 of Regulation S-K under the United States Securities Act of 1933, as amended. FORWARD-LOOKING STATEMENTS This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking statements" or "FLS"). All statements, other than statements of historical fact, are FLS and can be identified by the use of statements that include, but are not limited to, words, such as "anticipate," "plan," "continue," "estimate," "expect," "may," "will," "project," "predict," "propose," "potential," "target," "implement," "schedule," "forecast," "intend," "would," "could," "might," "should," "believe" and similar terminology, or statements that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. FLS in this news release includes, but is not limited to: statements relating to the anticipated sources and uses of funds to complete project financing, statements relating to the JV and the DOE Loan, including statements regarding project de-risking initiatives and the extent to which work to date has de-risked project execution; the expected operations, financial results and condition of the Company; the Company’s future objectives and strategies to achieve those objectives, including the future prospects of the Company; the estimated cash flow, capitalization and adequacy thereof for the Company; the estimated costs of the development of Thacker Pass, including timing, progress, approach, continuity or change in plans, construction, commissioning, expected milestones, anticipated production and results thereof and expansion plans; cost and expected benefits of the transloading terminal; anticipated timing to resolve, and the expected outcome of, any complaints or claims made or that could be made concerning the permitting process in the United States for Thacker Pass; the timely completion of environmental reviews and related consultations, and receipt or issuance of permits and approvals, in the United States for the Company’s development and resultant operations; capital expenditures and programs; estimates, and any change in estimates, of the mineral resources and mineral reserves at Thacker Pass; development of mineral resources and mineral reserves; the realization of mineral resources and mineral reserves estimates, including whether certain mineral resources will ever be developed into mineral reserves, and information and underlying assumptions related thereto; government regulation of mining operations and treatment under governmental and taxation regimes; the future price of commodities, including lithium; the creation of a battery supply chain in the United States to support the electric vehicle market; the timing and amount of future production, currency exchange and interest rates; the Company’s ability to raise capital; expected expenditures to be made by the Company on Thacker Pass; statements relating to revised capital cost estimates; ability to produce high purity battery grade lithium products; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the timing, cost, quantity, capacity and product quality of production at Thacker Pass; successful development of Thacker Pass, including successful results from the Company’s testing facility and third-party tests related thereto; statements with respect to the expected economics of Thacker Pass, including capital costs, operating costs, sustaining capital requirements, after tax net present value and internal rate of return, pricing assumptions, payback period, sensitivity analyses, net cash flows and life of mine; anticipated job creation and the completion of the Workforce Hub; the expectation that the National Construction Agreement (Project Labor Agreement) with North America’s Building Trades Unions for construction of Phase 1 of Thacker Pass will minimize construction risk, ensure availability of skilled labor, address the challenges associated with Thacker Pass’ remote location and be effective in prioritizing employment of local and regional skilled craft workers, including members of underrepresented communities; the expected workforce development training program being prepared with Great Basin College and overarching accessibility to a productive workforce; the Company’s commitment to sustainable development, limiting the environmental impact at Thacker Pass and plans for phased reclamation during the life of mine including use benefits of growth media; ability to achieve capital cost efficiencies; as well as other statements with respect to management’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. FLS involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. FLS reflects the Company’s current views about future events, and while considered reasonable by the Company as of the date of this news release, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions and other factors upon which such FLS is based include, without limitation: expectations regarding Phase 2 of Thacker Pass, including financing and the absence of material adverse events affecting the Company during the construction of the Project; the ability of the Company to perform conditions and meet expectations regarding the Company’s financial resources and future prospects; the ability to meet future objectives, priorities and anticipated milestones; a cordial business relationship between the Company and third-party strategic and contractual partners; the availability of equipment, labor and facilities necessary to complete development and construction of Thacker Pass; unforeseen technological, equipment and engineering problems; changes in general economic and geopolitical conditions, including as a result of regulatory changes by the current U.S. presidential administration, higher interest rates, the rate of inflation, a potential economic recession and potential changes in United States trade policy, including the imposition of tariffs and the resulting consequences on, among other things, the extractive resource industry, the green energy transition and the electric vehicle market; uncertainties inherent to feasibility studies and mineral resource and mineral reserve estimates; the mine processing facilities, based on the results of the testing facility and third-party tests, performing as expected; the ability of the Company to secure sufficient additional financing, advance and develop Thacker Pass, and to produce battery grade lithium; the respective benefits and impacts of Thacker Pass when production operations commence; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the Company’s ability to operate in a safe and effective manner, and without material adverse impact from the effects of climate change or severe weather conditions; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada; demand for lithium, including that such demand is supported by growth in the electric vehicle market and lithium-ion battery market; current technological trends; the impact of increasing competition in the lithium business, and the Company’s competitive position in the industry; continuing support of local communities and the Fort McDermitt Paiute and the Shoshone Tribe in relation to Thacker Pass, and continuing constructive engagement with these and other stakeholders, including any expected benefits of such engagement; risks related to cost, funding and regulatory authorizations to develop the Workforce Hub; the stable and supportive legislative, regulatory and community environment in the jurisdictions where the Company operates; impacts of inflation, deflation, currency exchange rates, interest rates and other general economic and stock market conditions; the impact of unknown financial contingencies, including litigation costs, environmental compliance costs and costs associated with the impacts of climate change, on the Company’s operations; increased attention to environmental, social, governance and safety and sustainability-related matters; risks related to the Company’s public statements with respect to such matters that may be subject to heightened scrutiny from public and governmental authorities related to the risk of potential "greenwashing," (i.e., misleading information or false claims overstating potential sustainability-related benefits); risks that the Company may face regarding potentially conflicting initiatives from certain U.S. state or other governments; estimates of, and unpredictable changes to, the market prices for lithium products; development and construction costs for Thacker Pass, and costs for any additional exploration work at the Project; estimates of mineral resources and mineral reserves, including whether mineral resources not included in mineral reserves will be further developed into mineral reserves; some of the modifying factors used to convert mineral resources to mineral reserves may change materially, and could materially impact the mineral reserve estimate; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of ongoing supply chain disruptions and availability of equipment and supplies on such timing; timely responses from governmental agencies responsible for reviewing and considering the Company’s permitting activities at Thacker Pass; availability of technology, including low carbon energy sources and water rights, on acceptable terms to advance Thacker Pass; government regulation of mining operations and mergers and acquisitions activity, and treatment under governmental, regulatory and taxation regimes; ability to realize expected benefits from investments in or partnerships with third parties; accuracy of development budgets and construction estimates; that the Company will meet its future objectives and priorities; the ability to satisfy production and lithium-recovery targets; that the Company will have access to adequate capital to fund its future projects and plans; that such future projects and plans will proceed as anticipated; compliance by Lithium Nevada LLC ("LN") and GM with terms of the JV agreements; the lack of any material disputes or disagreements between LN and GM; the regulation of the mining industry by various governmental agencies; as well as assumptions concerning general economic and industry growth rates, commodity prices, resource estimates, currency exchange and interest rates and competitive conditions. Although the Company believes that the assumptions and expectations reflected in such FLS are reasonable, the Company can give no assurance that these assumptions and expectations will prove to be correct. Readers are cautioned that the foregoing lists of factors are not exhaustive. There can be no assurance that FLS will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, readers are cautioned not to place undue reliance on this information, and that this information may not be appropriate for any other purpose, including investment purposes. The Company’s actual results could differ materially from those anticipated in any FLS as a result of the risk factors set out herein, and in the Company’s other continuous disclosure documents available on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. Readers are further cautioned to review the full description of risks, uncertainties and management’s assumptions in the aforementioned documents and other disclosure documents available on SEDAR+ and on EDGAR. The Company expressly disclaims any obligation to update or revise any FLS as a result of new information, future events or otherwise, except as and to the extent required by applicable securities laws. Forward-looking financial information also constitutes FLS within the context of applicable securities laws and as such, is subject to the same risks, uncertainties and assumptions as are set out in the cautionary note above. View source version on businesswire.com: https://www.businesswire.com/news/home/20260319063080/en/ Contacts INVESTOR CONTACT Virginia Morgan Vice President, Investor Relations and ESG +1-778-726-4070 [email protected]

CLEVELAND, March 4, 2026 /PRNewswire/ -- Q4 Highlights: Gross profit of $12.0 million increased 42% from 2024 on 5% lower revenue Operating profit of $7.6 million up 95% over 2024 and 12% over Q3 2025 Net loss of $3.8 million compared with net income of $7.6 million in 2024 2025 net loss includes a $6.0 million after-tax, non-cash pension settlement charge Adjusted EBITDA of $14.3 million improved 59% over 2024 and 14% over Q3 2025 FY Highlights: Net income of $17.6 million, or $2.35/share, versus $33.7 million, or $4.55/share, in 2024 Adjusted EBITDA of $48.9 million compared with $59.4 million in 2024 2024 included $13.6 million of business interruption insurance recoveries NACCO Industries® (NYSE: NC) today announced financial results for the three months and year ended December 31, 2025. Fourth-quarter 2025 operating profit increased over the prior year, reflecting improved results across all three reportable segments, led by Utility Coal Mining. Higher unallocated expenses partly offset these improvements. During the 2025 fourth quarter, the Company recorded a $7.8 million pension settlement charge, $6.0 million after tax, associated with the planned termination of its pension plan. This charge and a significant unfavorable tax effect, primarily due to the true-up of tax expense to the annual effective tax rate, resulted in a net loss for the quarter. "We delivered a strong close to 2025 as our fourth-quarter operating profit built upon the improving profitability and growth we experienced in the third quarter," said J.C. Butler, NACCO President and Chief Executive Officer. "While reported earnings were impacted by the pension settlement charge, our underlying results reflect a business delivering on its potential. We enter 2026 with clear opportunities to build on this momentum as we execute our growth strategy and create long-term value for our shareholders." Liquidity At December 31, 2025, NACCO had outstanding debt of $100.9 million. Total liquidity was $124.2 million, which consisted of $49.7 million of cash and $74.5 million of availability under our revolving credit facility. For the 2025 full year, we generated cash from operations of $50.9 million compared with $22.3 million in 2024. Detailed Discussion of 2025 Fourth Quarter Compared to 2024 Fourth Quarter Utility Coal Mining Segment The year–over–year operating profit and Segment Adjusted EBITDA improvement primarily reflects stronger operating performance at Mississippi Lignite Mining Company. Mississippi Lignite Mining Company produced and sold more tons during the quarter and, as a result, benefited from higher production efficiency and a lower cost per ton sold. In addition, production outpaced deliveries in the period, resulting in certain production costs being capitalized into inventory. These factors drove a meaningful improvement in results compared with the prior year, when earnings were affected by a significant inventory write down. Lower general and administrative employee-related expenses also contributed to the improvement in the segment operating profit. Contract Mining Segment The year–over–year revenue decline is primarily due to lower reimbursed costs, which have a corresponding offset in cost of goods sold. Revenues, net of reimbursed costs, grew 9% over the prior year, primarily driven by higher parts sales partly offset by increased volumes of lower-priced tons. Contract Mining continues to benefit from ongoing progress on operational and strategic initiatives designed to enhance profitability. Improved margins at the operations and higher parts sales were offset by a $1.1 million loss contingency recognized during the quarter and increased employee-related expenses, resulting in operating profit in line with the prior year. Minerals and Royalties Segment Revenues, operating profit and Segment Adjusted EBITDA grew year over year primarily due to increased royalty revenues driven by improved natural gas pricing and increased production volumes. These benefits were partly offset by decreased oil revenues resulting from reduced oil prices and production volumes. Lower employee-related expenses and higher earnings from an equity investment also contributed to the year-over-year profit improvement. Unallocated Unallocated primarily includes public company administrative costs and the financial results of Bellaire Corporation, Mitigation Resources of North America®, ReGen Resources and other developing businesses that are not directly attributable to our reportable segments. While fourth-quarter unallocated employee-related costs decreased year over year, fewer credit sales and higher operating expenses at Mitigation Resources and an increase in outside services at other developing businesses drove the significant increase in the Unallocated operating loss. Outlook NACCO Industries is a growing diversified natural resources company with a unique business model strategically positioned to deliver stable and growing financial returns over the long term. Our business model is purposely built for durability and resilience with an expanding portfolio of long-term contracts, relationships and investments that leverage our proven operational expertise, disciplined capital allocation and an entrepreneurial yet patient approach. We have methodically built unique capabilities and clear competitive advantages that allow us to pursue a wide range of growth opportunities, often completely integrated into customers' operations in partnership-based relationships. We have multiple vectors for value creation, and we are steadfastly committed to delivering compounding returns and expanding investor value over the long term. Our foundation rests on a stable base of long-term coal-mining contracts and legacy mineral and royalty assets, which generate dependable recurring cash flows. As new long-term contracts and investments are added across the Company, these new multi-year agreements create a "layering" effect as their contributions compound. This provides cash flow stability. The momentum our operations experienced in 2025, particularly in the second half, is expected to continue into 2026, with meaningful year-over-year improvements in consolidated operating profit, net income and EBITDA. At our Utility Coal Mining segment, operated by North American Coal®, we expect an increase in operating profit compared with 2025. Improvements at Mississippi Lignite Mining Company as a result of an increase in the contractually determined per ton sales price are expected to be partly offset by lower earnings at the unconsolidated mining operations due to reduced income associated with the wind down of reclamation services at the Sabine Mining Company. While we expect modest year-over-year improvements at Mississippi Lignite Mining Company, the customer's power plant began a maintenance outage in mid-February 2026. The power plant is expected to resume operations in mid-March. Any delay or further changes in demand, dispatch and/or reduced mechanical availability at the power plant could decrease current expectations. The Contract Mining segment, operated by North American Mining®, serves as our primary mining growth platform. Through continued geographic and mineral expansion, we are building a growing portfolio of long-term contracts that strengthen the foundation for sustained profitability. In October 2025, we secured a multi-year dragline services contract as part of a U.S. Army Corps of Engineers construction project in Palm Beach County, Florida. We also anticipate commencing operations at a new limestone quarry in Arizona in 2026. We expect the segment to deliver a significant year-over-year increase in operating profit and Segment Adjusted EBITDA as a result of higher customer demand, earnings contributions from new contracts and continued momentum from 2025 activities. Sawtooth Mining, a North American Mining subsidiary, provides exclusive comprehensive mining services at Thacker Pass, which is owned by a joint venture led by Lithium Americas Corp. (TSX: LAC; NYSE: LAC). Sawtooth will supply all of the lithium-bearing ore requirements for our customer's Thacker Pass lithium processing facility, which is currently under construction. This project is providing stable income during construction and is expected to contribute increased income and long-term cash flows once lithium production commences, which is targeted for late 2027. The Minerals and Royalties segment, managed by Catapult Mineral Partners®, has constructed a high-quality, diversified portfolio of oil and gas mineral and royalty interests in the United States. The Catapult team is expanding its portfolio by leveraging a data-driven approach to capital deployment that incorporates a longer-term view of production and development. We believe this provides a competitive advantage in the U.S. market. In July 2025, Catapult completed a $4.2 million acquisition of mineral interests within the Permian Basin. The acquisition includes a mix of producing wells, as well as additional development opportunities with existing operators in the area. This segment also has an investment in a company that holds operated and non-operated working interests in oil and natural gas assets. While these investments are expected to contribute favorably to 2026, commodity price forecasts as well as development and production assumptions are expected to result in an overall year-over-year decrease in Minerals and Royalties' operating profit and Segment Adjusted EBITDA, particularly in the second half of the year. Our forecast was developed prior to recent events in the Middle East. Any changes in commodity prices or production as a result of this conflict could alter current expectations. Mitigation Resources of North America® provides natural resource restoration and reclamation services that include stream and wetland mitigation solutions. Mitigation Resources is successfully leveraging its strong reputation and clear competitive strengths to expand into additional mitigation, restoration and reclamation markets. Mitigation Resources is expected to deliver increasing profitability over time from the sale of mitigation credits and as reclamation and restoration services expand. This business, while currently variable in performance due to permit and project timing, is expected to generate a profit in the second half of 2026 and move toward more consistent results over time as the business expands. We continue to invest in our businesses to drive future growth. In 2026, we anticipate total capital expenditures of up to $89 million. The majority of these expenditures relate to business development opportunities and will only be made if the projects meet our growth investment criteria. These anticipated capital investments are expected to result in a use of cash before financing greater than in 2025. Our businesses provide critical inputs for electricity generation, construction and development, and the production of industrial minerals and chemicals. As the need for uninterrupted energy grows, industry fundamentals for natural resources are expected to continue to strengthen, reinforcing the critical need to keep existing, reliable baseload resources online. In 2026, the National Coal Council, an advisory committee to the U.S. Secretary of Energy, was re-established. This council is focused on advising the Department of Energy on reinforcing coal's strategic role in U.S. energy policy and providing actionable advice on sustaining coal plant operations and prioritizing coal to support grid reliability to support our country's economic competitiveness and national security. The re-establishment of this council and the underlying improving regulatory environment reinforce our confidence in our prospects for 2026, our overall business trajectory and longer-term growth opportunities. Our conservative approach to maintaining a strong capital structure and operating discipline minimizes risk, while the compounding effect of a growing portfolio of long-term contracts and deliberate growth investments create a robust foundation for cash flow growth. With a perspective that spans decades, we are methodically building a strong, stable business that is expected to deliver annuity-like returns. This long-term view allows us to leverage our core skills for strategic, measured expansion and pursue opportunities with longer-term horizons and higher returns. We pursue opportunities that other companies with shorter time horizons might overlook. Our commitment is to generate increasing cash flows and return value to stockholders, whether through reinvestment for growth or direct returns such as share repurchases and payment of dividends. We remain confident in our ability to drive growth, expand our capabilities and reward shareholders over the long run. **** Conference Call In conjunction with this news release, the management of NACCO Industries will host a conference call on Thursday, March 5, 2026 at 8:30 a.m. Eastern Time. The call may be accessed by dialing (888) 880-3330 (North America Toll Free) or (646) 357-8766 (International), Conference ID: 5565879, or over the Internet through NACCO Industries' website at ir.nacco.com/home. For those not planning to ask a question of management, the Company recommends listening to the call via the online webcast. Please allow 15 minutes to register, download and install any necessary audio software required to listen to the webcast. A replay of the call will be available shortly after the call ends through March 12, 2026. An archive of the webcast will also be available on the Company's website approximately two hours after the live call ends. Annual Report on Form 10-K NACCO Industries, Inc.'s Annual Report on Form 10-K has been filed with the Securities and Exchange Commission. This document may be obtained by directing such requests to NACCO Industries, Inc., 22901 Millcreek Blvd., Suite 600, Cleveland, Ohio 44122, Attention: Investor Relations, by calling (440) 229-5130, or from NACCO Industries, Inc.'s website at nacco.com. Non-GAAP and Other Measures This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with U.S. generally accepted accounting principles (GAAP). Consolidated Adjusted EBITDA and Segment Adjusted EBITDA are provided solely as supplemental non-GAAP disclosures of operating results. Management believes that Consolidated Adjusted EBITDA and Segment Adjusted EBITDA assist investors in understanding the results of operations of NACCO Industries. In addition, management evaluates results using these non-GAAP measures. Forward-looking Statements Disclaimer The statements contained in this news release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Among the factors that could cause plans, actions and results to differ materially from current expectations are, without limitation: (1) a significant reduction in demand by the Company's customers, (2) weather conditions, extended power plant outages, liquidity events or other events that would change the level of customers' coal or aggregates requirements, (3) changes to or termination of customer or other third-party contracts, or a customer or other third party default under a contract, (4) changes in the prices of hydrocarbons, particularly diesel fuel, natural gas, natural gas liquids and oil as a result of factors such as OPEC and/or government actions, geopolitical developments, economic conditions and regulatory changes, vehicle electrification, as well as supply and demand dynamics, (5) changes in development plans by third-party lessees of the Company's mineral interests, (6) failure or delays by the Company's lessees in achieving expected production of natural gas and other hydrocarbons; the availability and cost of transportation and processing services in the areas where the Company's oil and gas reserves are located; and the ability of lessees to obtain capital or financing needed for well-development operations and leasing and development of oil and gas reserves on federal lands, (7) any customer's premature facility closure or extended project development delay, (8) federal and state legislative and regulatory actions affecting fossil fuels, (9) supply chain disruptions, including price increases and shortages of parts and materials, inclusive of tariff effects, (10) failure to obtain adequate insurance coverages at reasonable rates, (11) changes in tax laws or regulatory requirements, including the elimination of, or reduction in, the percentage depletion tax deduction, changes in mining or power plant emission regulations and health, safety or environmental legislation, (12) impairment charges, (13) changes in costs related to geological and geotechnical conditions, repairs and maintenance, new equipment and replacement parts, fuel or other similar items, (14) equipment problems that could affect deliveries to customers, (15) changes in the costs to reclaim mining areas, (16) costs to pursue and develop new mining, mitigation, oil and gas and power generation development opportunities and other value-added service opportunities, (17) the ability to successfully evaluate investments and achieve intended financial results in new business and growth initiatives, (18) disruptions from natural or human causes, including severe weather, accidents, fires, earthquakes and terrorist acts, any of which could result in suspension of operations or harm to people or the environment, and (19) the ability to attract, retain, and replace workforce and administrative employees. About NACCO Industries NACCO Industries® brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources businesses. Learn more about our companies at nacco.com, or get investor information at ir.nacco.com. ***** View original content to download multimedia:https://www.prnewswire.com/news-releases/nacco-industries-announces-fourth-quarter-and-full-year-2025-results-302704535.html