On May 15, 2025, Lithium Americas Corp. (TSX/NYSE: LAC) launched an at-the-market (ATM) equity offering for up to US$100 million, equivalent to approximately C$136.2 million using the May 15, 2025 Bank of Canada exchange rate of 1.3620. The offering is made under a base shelf prospectus dated May 9, 2024, and a related prospectus supplement dated May 15, 2025. Under the ATM program, common shares may be sold on the TSX, NYSE, or other marketplaces at prevailing market prices. Proceeds will be allocated toward the development and construction of the Thacker Pass lithium project in Nevada, general corporate purposes, and working capital. The offering does not require a minimum amount to be raised and may terminate without any shares being sold. Legal counsel for Lithium Americas is provided by Cassels Brock & Blackwell LLP (Canada) and Vinson & Elkins L.L.P. (U.S.), while the agents are represented by Blake, Cassels & Graydon LLP (Canada) and Skadden, Arps, Slate, Meagher & Flom LLP (U.S.). All legal advisors involved confirmed that their beneficial ownership in the company is less than 1% of any class of outstanding securities. The ATM structure offers flexibility and efficiency for accessing capital in alignment with market conditions, supporting Lithium Americas' strategy to position itself as a leading North American lithium supplier.