investor presentation -...

FEBRUARY 2018 |TSX: LAC

NYSE: LAC

INVESTOR PRESENTATIONFEBRUARY 2018

Caucharí-Olaroz Lithium Project

Jujuy, Argentina


NYSE: LAC

CAUTIONARY STATEMENT

2

Technical Information

Scientific and technical information in this presentation about the Caucharí-Olaroz Project and

the Lithium Nevada Project has been reviewed and approved by Rene LeBlanc, a qualified

person under NI 43-101. Further information about the Caucharí-Olaroz Project, including a

description of key assumptions, parameters, description of data verification and QA/QC

programs, and methods relating to resources and reserves, factors that may affect those

estimates, and details regarding development and the mine plan for the project, is available in

the NI 43-101 technical report, “Updated Feasibility Study, Reserve Estimation and Lithium

Carbonate Production at the Cauchari-Olaroz Salars, Jujuy Province, Argentina,” dated

January 15, 2018 available on SEDAR. Further information about the Lithium Nevada Project

(formerly Kings Valley project), including a description of resources thereunder and description

of data verification and QA/QC programs, is available in the NI 43-101 technical report of

Lithium Americas dated December 15, 2017 entitled “Independent Technical Report for the

Lithium Nevada Property, Nevada, USA”, available on SEDAR.

Forward-Looking Statements

This presentation 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 information”). All statements, other than statements of historical fact, may be

forward-looking information. Forward looking information can be identified by the use of

statements that include words such as "anticipate", "plan", "continue", "estimate", "expect",

"exceed", "may", "will", "project", "predict", “propose”, "potential", "targeting", "exploring",

“scheduled”, “implementing”, "intend", "could", "might", "should", "believe" and similar words or

expressions. Information provided in this presentation is necessarily summarized and may not

contain all available material information.

Fforward-looking information in this presentation includes, but is not limited to: timing and

results of an updated development plan at Caucharí-Olaroz to increase production capacity to

50,000 tpa of lithium carbonate; timing of results of development at Cauchari-Olaroz and the

targeted date for production to commence, the financial estimates for the Stage 1 feasibility

study, including capital and operating costs, NPV, IRR and EBITDA; estimation of mineral

resources and mineral reserves; timing and results of additional development studies on the

Lithium Nevada Project, including completing a pre-feasibility study; forecasts for future lithium

market demand and pricing, government regulation of mining operations and treatment under

government and taxation regimes.

Forward-looking information expresses, as at the date of this presentation, plans, estimates,

forecasts, projections, expectations, or beliefs of management as to future events or results. All

such forward-looking information is based on certain assumptions, estimates, expectations,

analyses and opinions made by management in light of their experience and perception of

historical trends, current conditions and expected future developments, as well as other factors

management believes are appropriate in the circumstances. Assumptions upon which such

forward-looking information is based include, without limitation: long term pricing and demand

growth for lithium products; a stable and supportive legislative and regulatory environment for

mining development in Argentina and Nevada; the impact of increasing competition; current

technological trends; constraints on the increase in supply of lithium carbonate by other

producers and potential producers; costs of development and production; anticipated results of

exploration and development activities; a cordial business relationship between Lithium

Americas and SQM for the Caucharí-Olaroz project; determination by SQM to make a

development decision at Cauchari-Olaroz; Lithium America’s ability to operate in a safe and

effective manner; and ability to obtain financing on reasonable terms results of testing and

technical analysis for processing of clay at Lithium Nevada being positive. Readers are

cautioned that the foregoing list is not exhaustive.

Lithium Americas' actual results, programs and financial position could differ materially from

those anticipated in such forward-looking information as a result of numerous factors, risks and

uncertainties, many of which are beyond Lithium Americas' control. These include, but are not

limited to: possible variations in mineral resource and reserve estimates; recovery rates; lithium

prices; changes in project parameters as plans continue to be refined; legislative changes that

impact the operations in which Lithium Americas conducts business; results of exploration

activities and development of mineral properties; interpretation of geological data; receipt and

security of mineral property titles; failure of plant, equipment or processes to operate as

anticipated; accidents; labour disputes; the inability to obtain key personnel and parts related to

operations; receipt of licenses to conduct mining activities; environmental liabilities and risks

inherent in the development and production of Lithium Americas' properties; cost overruns or

unanticipated costs and expenses; the availability of funds; disputes with joint venture partners;

currency fluctuations; general market and industry conditions; competition; and delays in

obtaining governmental and regulatory approvals, as well as those factors more fully described

under the heading “Risk Factors” in Lithium Americas’ annual information form and most

recently filed management discussion & analysis available on SEDAR. There can be no

assurance that forward-looking information will prove to be accurate, as actual results and

future events could differ materially from those anticipated in such information. Accordingly,

readers are cautioned not to place undue reliance on forward-looking information. Lithium

Americas does not intend, and expressly disclaims any obligation to, update any forward-

looking information whether as a result of new information, future events or otherwise, except

as, and to the extent required by, applicable securities laws.


NYSE: LAC

LITHIUM PRICE

In 2016, lithium prices rose around 300% in China with contract prices for existing producers rising to over US$13,000/t

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Source: Asian Metal, Thomson Reuters


NYSE: LAC

LITHIUM AMERICAS – RECENT ACHEIVEMENTS

4

Reno

VancouverToronto

Jujuy

FEBRUARY 2018 |

(1) Note: Much of the production infrastructure is scaleable to a production capacity of 50,000 tpa of lithium carbonate, and LAC and SQM are investigating a

development plan that contemplates such increase.

Lithium Americas is advancing world-class lithium assets

through a low-risk path to production

Partnered with SQM in 50/50 JV

• Partnered with largest lithium brine producer,

SQM, in 50/50 JV (Minera Exar) to help build and

operate the Caucharí-Olaroz lithium project.

1

Completed DFS for Cauchari-Olaroz

• Caucharí-Olaroz Stage 1 definitive feasibility study (DFS)

(25,000 tpa1) supports operating costs of US$2,495/t with

40 year project life.

Development work underway to support initial production by 2020

• Detailed engineering and construction work is underway for development of

Cauchari-Olaroz Stage 1, US$425 million capex (100% basis before VAT), to

enable targeted 2020 production.

Advanced Lithium Nevada with PFS scheduled for end of Q2 2018

• Actively advancing the Lithium Nevada project with a new, highly skilled technical

team focused on completing a pre-feasibility study (PFS) to produce lithium

compounds from claystone.

Secured US$285 million to fund Stage 1

• Ganfeng Lithium and Bangchak have provided US$285 million in equity and

credit, primarily, to fund Caucharí-Olaroz Stage 1.

2

3

4

5

Lithium Nevada

Cauchari-Olaroz


NYSE: LAC

CAPITAL STRUCTURE

5

Symbol TSX / NYSE – LAC

Shares Outstanding1 88.5 million

52 Week Range C$3.85 - C$14.06

Share Price2 C$9.05

Average Daily

Volume3 1.1 million (30-day average)

Market Cap2 C$800 million (US$640 million)

Cash4 US$73 million

Debt4US$205 million available

(fully undrawn)

Enterprise Value2 US$570 million

Largest

Shareholders

Ganfeng Lithium – 17.0%

Bangchak (BCP) – 15.9%

Management & Directors* – 12.1%

1 Shares outstanding as of February 23, 2018.2 Calculated based on TSX closing share price on December 7, 20173 Includes TSX and NYSE.4 Cash and debt as of September 30, 2017.

Research

Coverage

Cormark Securities

National Bank Financial

Eight Capital

Canaccord Genuity

Source: Thomson Reuters, Bloomberg, Company Reports

Recent Share Price (TSX:LAC)

Lithium Americas commenced trading on NYSE under the symbol “LAC” on January 25, 2018

Adjusted for 5:1 share consolidation on November 8, 2017

* Management and Directors include 7.5% interest from Geologic Resource Partners and

exclude strategic investment by Ganfeng Lithium and Bangchak.

$0.00

$4.00

$8.00

$12.00

$16.00

Mar-16 Sep-16 Mar-17 Sep-17

Share

Price (

C$/s

h)


NYSE: LAC

THE MANAGEMENT TEAM

Lithium Americas has assembled a highly qualified team with a focus on Argentina, lithium, engineering and capital markets

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Tom Hodgson, CEO

John Kanellitsas, President

Gabriel Rubacha, President, South America

Alexi Zawadzki, President, North America

Eduard Epstein, CFO

David Deak, CTO / President of Lithium Nevada

Myron Manternach, EVP Finance / Corp. Dev

Ignacio Celorrio, Legal / Corp. Dev

Alec Meikle, VP, Business Development

Tom Hodgson, CEO

• 30+ years experience in senior

management roles

• Served as COO and CEO and on

the Board of Directors of several

public and private companies

Gabriel Rubacha, President, South America

• Previously Commercial Director of Techint

Engineering and Construction

• Degree in Aeronautical Engineering

• Argentine citizen

John Kanellitsas, President

• 25+ years of business

experience at prominent

investment banks and asset

management firms

• Previously CEO of LAC

Alexi Zawadzki, President, North America

• 20+ years of business experience in

energy and mining development and

construction

• Hydrologist with a Master’s degree from

Wilfrid Laurier University


NYSE: LAC7

CAUCHARÍ-OLAROZ JV WITH SQM

In March 2016, Lithium Americas entered a strategic 50/50

JV with SQM to develop and operate the Caucharí-Olaroz

project

Leverages SQM’s technical expertise. SQM is the largest

producer of lithium brines with over 20 years experience operating

and expanding its world-class Atacama project in Chile.

Provides a lower risk development approach. SQM’s operating

expertise combines with Lithium Americas’ well-established

government and community relations in Argentina.

Governed by a shareholders’ agreement. The JV is governed

by a Shareholders’ Agreement which provides Lithium Americas

and SQM with:

I. Equal representation on Management Committee.

II. Unanimous approval requirement for budgets and timing

of expenditures.

III. The right to each buy 50% of the project’s production.

*Jujuy Energía y Minería Sociedad del Estado (JEMSE), a Jujuy

government owned company, has a right to an 8.5% interest in

the JV.

*

CAUCHARI-OLAROZ

PROJECT


NYSE: LAC8

STRATEGIC INVESTMENTS BY GANFENG & BANGCHAK

In 2017, Ganfeng Lithium and Bangchak provided a total of US$285 million to Lithium Americas through a combination of

credit and equity

Ganfeng Lithium Bangchak Total

Equity Investment US$47 million US$33 million US$80 million • LAC’s cash balance is US$73 million

Shares Issued* 15 million 10 million 25 million

• LAC’s currents shares outstanding is

88.5 million

• Ganfeng Lithium and Bangchak own

17.0% and 15.9%, respectively, of LAC

Credit Facility US$125 million US$80 million US$205 million

• 6 year credit facility from first

drawdown

• 8.0% interest (year 1-3), 8.5% (year 4),

9.0% (year 5), 9.5% (year 6)

• No prepayment penalty

Offtake (Stage 1) 80% 20% 100%• 20 year term

• Offtake for Stage 1 of Cauchari-Olaroz

at market prices


NYSE: LAC9

STRONG SUPPORT FROM ARGENTINA AND JUJUY GOVERNMENT

In 2017, senior executives from Lithium Americas, SQM and Minera Exar met with senior officials from Argentina and

Jujuy government to reaffirm commitment to support development of Cauchari-Olaroz

Meeting with SQM, Lithium Americas and Minera Exar with Argentina and Jujuy Government

- June 28, 2017


NYSE: LAC10

*

Stage 1 DFS Results (100% basis)

March 2017

Average annual production 25,000 tpa battery-grade Li2CO3

Project life 40 years

Proven & probable reserves 1.5 million tonnes LCE at 698 mg/L Li

Construction capital costs US$425 million (before VAT)

Operating costs US$2,495 / t Li2CO3

Lithium carbonate price

assumptionUS$12,000/t battery-grade Li2CO3

Average EBITDA US$233 million

After-Tax Economics

US$803 million NPV10% , US$1.1 BB NPV8%

28.4% IRR

3.4 year payback

CAUCHARÍ-OLAROZ STAGE 1 FEASIBILITY STUDY

Note: The March 2017 updated feasibility study is modelled on an initial stage of 25,000 tpa of lithium carbonate; however, much of the production infrastructure is scalable to a

production capacity of 50,000 tpa of lithium carbonate and LAC and SQM are investigating a development plan that contemplates such increase.

All figures on a 100% project equity basis unless otherwise noted.


NYSE: LAC11

CAUCHARÍ-OLAROZ CONSTRUCTION SCHEDULE

H1 2017

Started Stage 1 development

2018

Plant, gas pipeline, and electricity transmission line construction

H2 2017

Execution of detailed engineeringExpansion of campDrilling campaignEarly works construction

2020

Commissioning and first production

2018 20192017

Waste Brine Reception Construction Testing Pond Liner Pond Testing


NYSE: LAC12

LITHIUM NEVADA PROJECT

Advancing a scalable process to produce lithium

hydroxide from lithium-bearing claystone.

• 100% owned by Lithium Americas Corp.

• Conducting an exploration program with the objective of

expanding and upgrading the existing large and high-grade

NI 43-101 compliant resource.

• Modern infrastructure

• Located near the mining town of Winnemucca

• Adjacent to paved highway

• Access to Nevada labour market

• Wide-ranging energy sourcing options

• Assembled a strong technical team with experience in the

lithium industry, project engineering and geology.

• Examining future strategic partnership/financing alternatives to

collaborate and develop the Lithium Nevada Project.

• Engaged WorleyParsons to complete a NI 43-101 Preliminary

Feasibility Study (PFS) by the end of Q2 2018.

FEBRUARY 2018 |


NYSE: LAC13

LITHIUM NEVADA DEVELOPMENT SCHEDULE

Q4 2017

Complete 2017 exploration program

Q2 2018

Complete PFS (including reserve estimate)

Q1 2018

Finalize process testing

Initiate baseline environmental surveys

H2 2018

Advance permitting processCommence detailed engineering

2018 20192017

Drilling Project Site Process Testing


NYSE: LAC14

SUMMARY

The next lithium producer from

brine

• Development work in support of 2020

production start

• 2017 DFS supports production at low-

end of cost curve (<US$2,500/t)

Following a low-risk development

approach

• Partnered with the largest lithium

producer from brine, SQM

1

3 Experienced team focused on

maximizing long-term

shareholder value

• Assembled talented technical and

financial team with lithium and

capital markets experience

4

Unlocking value in a large,

clay-based resource in Nevada

• Pursuing mine plan to produce

lithium from claystone

• PFS targeted for Q2 2018

2ARGENTINA NEVADA

RISK STRATEGY TEAM


NYSE: LAC15

APPENDIX


NYSE: LAC

THE BOARD OF DIRECTORS

Lithium Americas focus is on a low risk strategy to reach

production and maximize shareholder value

Board with diverse industry experience

• Background in mining, accounting and construction.

• Argentine directors – Gabriel Rubacha and Franco Mignacco -

provide strong local connections.

Pursuing a low-risk approach to development

• Partnered with SQM in a 50/50 JV to leverage SQM’s operating

expertise in brines.

• Strong JV agreement in place to reduce Lithium Americas’

financing and development risk.

Closely aligned with shareholders

• Management and board, including Ganfeng Lithium and

Bangchak, control approximately 46.0% of Lithium Americas’

common shares.

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GEORGE IRELAND

CHAIRMAN OF THE BOARD

• 35 years of experience in the resource sectors.

• Founder, CIO, and PM at Geologic Resource Partners.

WANG XIAOSHEN

• Vice Chairman and EVP of Ganfeng Lithium.

• MBA from China Europe International Business.

CHAIWAT KOVAVISARACH

• President and CEO of Bangchak.

• MBA from Thammasat University, Thailand.

FRANCO MIGNACCO

• President of Minera Exar based in Jujuy, Argentina.

• MBA from San Andres University, Buenos Aires, Argentina.

JONATHAN EVANS

• Former VP and GM for the Lithium division at FMC.

• MBA from Rensselaer Polytechnic Institute.

GARY COHN

• Former in-house legal counsel for Magna International.

• MBA for York University, J.D. from Osgoode Hall Law School.

JEAN FRASER

• Partner at Osler, Hoskin & Harcourt LLP.

• BSc. and J.D. from University of Toronto.

TOM HODGSON, JOHN KANELLITSAS AND GABRIEL RUBACCHA

(See “The Management Team”)


NYSE: LAC

ARGENTINA’S TURN AROUND

Improved business conditions with President Macri

• Abolished export duties and trade controls.

• Eliminated exchange rate and capital controls.

• Settled outstanding claims from 2003 default.

• Fast-track process to join the Organization for Economic

Cooperation and Development.

Argentina increasing support for mining investments

• Improving mining jurisdiction e.g., Cerro Negro, etc.

• Removed 5-10% export duty on commodities (including

lithium).

Tax amnesty program to invest in infrastructure

• Program to attract an estimated US$500 billion.

• Launched Renewable Energy Plan that is expected to attract

US$15 billion in investment.

2017 midterm election reaffirm Macri’s agenda

• Macri’s “Let’s Change” coalition won top five population

centers in the October 2017 mid-term election.

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Mauricio Macri

President of Argentina

Week 1

Abolishes key export duties

and import controls

April 2016

Settles claims from 2003

default and completes

oversubscribed debt raise

Week 2

Eliminates exchange rate

and capital controls

December 2015

President Macri and new

government takes office

February 2017

President Macri approval rating

reaches a six month highJune 2017

Argentina issues $2.75 billion in 100-

year bonds

Source: Bloomberg

October 2017

Midterm election sees increased

representation for Macri’s coalition


NYSE: LAC18

CAUCHARÍ-OLAROZ LITHIUM

PROJECT

Caucharí-Olaroz is located on an international highway

with access to power, water, and a large local labour

force

Located in Jujuy, Argentina

• Large property package ~ 70,000 ha.

• Close proximity to existing producers (ORE, FMC, SQM,

ALB).

Near excellent infrastructure

• Natural gas pipeline - 50 km.

• Paved highway – 300 km to SQM’s Atacama project.

• Deep sea port - 550 km.

• Access to fresh water.

FEBRUARY 2018 |


NYSE: LAC19

CAUCHARÍ-OLAROZ LITHIUM

PROJECT (CONT.)

Working closely with local communities

• Economic benefits agreements with 6 local communities.

• Emphasis on local employment.

• Minera Exar Jujuy and field office staff ramping up.

• Construction staff est. over 1,000 workers.

• Over 400 employees and contractors in Argentina.

Support from Argentine government

• Permitted for construction and operation under 2012 EIS

(updated in October 2017).

Advancing development underway

• Execution of detailed engineering.

• Expansion of camp.

• Accepting construction packages.

• Drilling campaign.

10 km

FEBRUARY 2018 |


NYSE: LAC

CAUCHARÍ-OLAROZ CONVENTIONAL PROCESS

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Pump lithium brine

from the salar

Use solar evaporation to

concentrate lithium brine in

shallow ponds

Process

concentrated

lithium brine in a

plant

Ship lithium

carbonate

Design by experience

• SQM engineering staff developing design and execution planning.

• Process is based on SQM’s +20 years experience operating in the Atacama.

• Infrastructure and plant designed to be scaleable to a production capacity of 50,000 tpa of battery-grade lithium carbonate1.

Note: The March 2017 updated feasibility study is modelled on an initial stage of 25,000 tpa of lithium carbonate; however, much of the production infrastructure is scalable to a

production capacity of 50,000 tpa of lithium carbonate and LAC and SQM are investigating a development plan that contemplates such increase.

All figures on a 100% project equity basis unless otherwise noted.


NYSE: LAC21

CAUCHARÍ-OLAROZ STAGE 1 OPEX & CAPEX

Initial Capital Costs Operating Costs

US$2,495/t of battery grade lithium

carbonate produced

US$425 million capital costs before

VAT and working capital.

All figures on a 100% project equity basis unless otherwise noted. Totals may not add due to rounding.


NYSE: LAC

LITHIUM RESOURCE AND RESERVE SUMMARY

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Li Grade (%) Li Cut-off (%) LCE (t)

Lithium Nevada

Zone I – May 2016

Measured Resources 0.31 0.20 843,000

Indicated Resources 0.29 0.20 2,489,000

Inferred Resources 0.29 0.20 1,954,000

Zone II – May 2010

Indicated Resources 0.27 0.20 1,365,000

Inferred Resources 0.26 0.20 650,000

1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all of any part of the mineral resource will be

converted to mineral reserves.

2. The values in the tables above are expressed as total contained metals.

3. The 0.20% Li cut-off grade for Zone 1 and Zone 2 was determined on the basis of different economic assumptions, as further described in the technical report.

4. A potassium and sodium resource are also reported.

1. Ratios of lithium to other metals include: K:Li of 8.2, Mg:Li of 2.4, B:Li of 1.6, SO4:Li of 28.5.

2. LCE is calculated based the following conversion factor: Mass of LCE = 5.323 x Mass of lithium metal

3. The conversion is direct and does not account for estimated processing losses.

4. The values in the columns on Lithium Metal and Lithium Carbonate Equivalent above are expressed as total contained metals.

5. Mineral Resources have a cut-off grade of 354 mg/L of lithium.

6. Mineral Resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all of any part of the mineral resource will be

converted to mineral reserves.

Brine Volume (m3)

Average Li Concentration

(mg/L) Lithium Metal (t) LCE (t)

Caucharí-Olaroz (100% basis)

Mineral Reserves – March 2017

Proven Reserves (Years 1-5)1,2,3,4 4.9 x 107 712 35,159 187,149

Probable Reserves (Years 6-40) 1,2,3,4 3.5 x 108 695 246,474 1,311,982

Mineral Resources – July 2012

Measured Resources2,3,4,5,6 9.1 x 108 630 576,000 3,039,000

Indicated Resources2,3,4,5,6 2.9 x 109 570 1,650,000 8,713,000


NYSE: LAC

THE FUTURE IS CLEAR

Hong Kong

CONTACT INFORMATION

[email protected]

1100 – 355 Burrard Street

Vancouver, BC V6C 2G8

Canada

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