ADDED
The number of the registrant s common shares, no par value per share, outstanding as at March 18, 2026 was 347,369,613 .
Risks Relating to the Company s Business Activities The Company s strategy depends on successfully developing Thacker Pass and achieving projected production and operational targets.
Risks may affect project development, lithium production, financial performance, market conditions, regulatory approvals, and the Company s business and securities.
operations, coupled with its domicile in British Columbia, and the evolving political landscape, including increased geopolitical tensions and industrial policies, could impact its ability to fund the project Changes in government laws and regulations, including those related to taxation, environmental compliance and permitting, may affect development The Company s ability to develop Thacker Pass is governed by the U.S.
If certain Canadian Tax requirements are not met, the Company and Lithium Argentina could be subject to substantial tax liabilities resulting from the Separation Certain events could cause the Arrangement to lose its intended tax-free status, leading to significant U.S.
Shareholders The Company faces restrictions to maintain its tax-free status for shareholders, limiting its ability to pursue certain strategic transactions Changes in U.S.
and Canadian tax laws could increase the Company s tax liabilities Any indemnification claims related to the Separation may have a material adverse effect upon the Company If classified as a PFIC, U.S.
shareholders may face greater tax liabilities, interest charges and additional reporting obligations, impacting their overall tax situation The Company s future financial performance depends in part on the continued availability of tax credits relating to the production of critical minerals 6 PA RT I Item 1: B usiness Overview Lithium Americas Corp.
The Company currently owns a 62% interest in Thacker Pass and manages the Project, and GM owns a 38% interest in Thacker Pass.
On October 28, 2024, the Company announced the closing of a loan from the U.S.
REMOVED
The number of the registrant s common shares, no par value per share, outstanding as at March 17, 2025 was 218,686,462 .
Risks Relating to Resource Development The Company's business strategy depends in substantial part on developing Thacker Pass into a commercially viable mine and chemical manufacturing facility.
Risk factors that could impact the development of Thacker Pass include: Commercial viability of the Thacker Pass Project depends on numerous uncontrollable factors such as permitting and financing that could negatively affect business and financial conditions.
The Company s ability to draw on the DOE Loan is contingent on meeting specific conditions and covenants, and failure to do so could lead to loan termination or other significant adverse effects.
The Company s ability to maintain and amend permits is uncertain and subject to regulatory, administrative and litigation challenges, which could delay development timelines.
The expected capital and operating costs for Thacker Pass are based on various assumptions that may prove inaccurate, and any discrepancies could lead to increased costs and the need for additional funding to complete Phase 1 and meet working capital requirements.
The Company s lack of history of completing mining and chemical processing projects or conducting such operations makes it difficult to evaluate its prospects, increasing the uncertainty of its future success.
Inherent risks in establishing new mining and chemical-processing operations, including unexpected costs, problems and delays, could impact the profitability of operations at Thacker Pass.
operations, coupled with its domicile in British Columbia, and the evolving political landscape, including increased geopolitical tensions and industrial policies, could impact its ability to fund the project.
Changes in government laws and regulations, including those related to taxation, environmental compliance and permitting, may affect development.