I expect everyone's already seen this but ...

September 28, 2023 – Vancouver, Canada: Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce that the separation of the Company into Lithium Americas (Argentina) Corp. (“Lithium Argentina”) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”) pursuant to a statutory plan of arrangement (the “Separation”) is expected to be completed on Tuesday, October 3, 2023 (the “Effective Date”).

Under the terms of the Separation, holders of Lithium Americas common shares (“Lithium Americas Shares”) will be entitled to receive one Lithium Argentina common share (each, a “Lithium Argentina Share”) and one Lithium Americas (NewCo) common share (each, a “Lithium Americas (NewCo) Share”) for every Lithium Americas Share held immediately before the effective time of the Separation.

The Company expects that “when-issued” public trading markets for Lithium Argentina Shares under the ticker symbol “LAAC WI” and Lithium Americas (NewCo) Shares under the ticker symbol “LAC WI” will commence on the New York Stock Exchange (“NYSE”) on or about Monday, October 2, 2023, and will continue up to and including Tuesday, October 3, 2023. At the close of trading on Tuesday, October 3, 2023, Lithium Americas Shares are expected to conclude “regular-way” trading on the NYSE and the Toronto Stock Exchange (the “TSX”) under the ticker symbol “LAC,” and Lithium Argentina Shares and Lithium Americas (NewCo) Shares are expected to conclude “when-issued” trading on the NYSE. For clarity, there will be no “when-issued” trading of Lithium Argentina Shares or Lithium Americas (NewCo) Shares on the TSX.  

Subject to confirmation of the NYSE and the TSX, the Company also anticipates that “regular-way” trading of Lithium Argentina Shares under the ticker symbol “LAAC” and Lithium Americas (NewCo) Shares under the ticker symbol “LAC” will begin on the NYSE and TSX at the start of trading on Wednesday, October 4, 2023.

There are currently 160,047,671 Lithium Americas Shares outstanding, and it is anticipated that immediately upon the Separation becoming effective the number of Lithium Argentina Shares and Lithium Americas (NewCo) Shares outstanding shall be the same or substantially the same as the number of Lithium Americas Shares currently outstanding. Persons trading in the “when-issued” market should be aware that the acquisition and beneficial ownership reporting rules under Canadian securities laws will apply to purchases of “when-issued” Lithium Argentina Shares and Lithium Americas (NewCo) Shares.