Purchase Agreement Between General Motors And Lithium Americas

VANCOUVER - Lithium Americas Corp. has entered into a purchase agreement with General Motors Co. (GM) pursuant to which GM will make an equity investment in Lithium Americas. GM has agreed to make an aggregate investment in two tranches. In tranche 1, GM will acquire 15.0 million common shares of Lithium Americas. The funds from Tranche 1 will be held in escrow until certain conditions are met. If those conditions are met, the funds will be released to the Company and GM will own a 9.999% equity interest in Lithium Americas. Lithium Americas anticipates that the escrow release will occur by mid-2023.

Following the Separation and the satisfaction of certain conditions, GM has agreed to subscribe for shares of Lithium Americas (NewCo) at the then market price on the date of subscription, subject to a cap of 130% of the Tranche 1 Subscription Price (adjusted for the Separation) in an amount equal to $330 million (Tranche 2).

Lithium Americas has agreed to use the proceeds from the Transaction for the development of Thacker Pass.