Thacker Pass

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Lithium Americas

Lithium

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Nevada, USA

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Development

Thacker Pass is a lithium clay project located in northern Nevada, currently fully owned and operated by Lithium Americas⁽¹⁾
Construction of Thacker Pass will be undertaken in two phases with Phase 1 targeting production of 40ktpa of lithium carbonate followed by a Phase 2 expansion expected to increase production to 80ktpa
Phase 1 construction capital cost is expected to be funded through Lithium Americas strategic relationship with GM who have contributed US$320 million in equity alongside the recently announced US$625 million investment in Thacker Pass. Further funding is intended to be provided by the US Department of Energy loan program which has provided conditional approval for a US$ 2.3 billlion loan
Detailed engineering is advancing with full notice to proceed (FNTP) expected to be issued by the end of 2024
First production is expected in 2027

Royalty Overview
Key Terms	60% interest in a Gross Revenue Royalty (GRR). 4.8% GRR reducing to 2.4% after $13.2m royalty payments received (60% attributable basis), subject to buy back rights (outlined below). Right to reduce royalty to 1.05% (60% attributable basis) if LAC elect buy-back by paying US$13.2m (net to Deterra).

Notes:

Per Lithium Americas announcement dated 16th October 2024, LAC has entered into an agreement with General Motors to enter a joint venture agreement which sees GM become a 38% owner of Thacker Pass in exchange for $625m in cash and letters of credit. Completion is expected by 28 February 2025.
S-K 1300 December 2023 as reported in Lithium Americas August 2024 Corporate Presentation.

Major construction is expected to run from 2024 until 2027 when first production is expected to commence