Ms. Virginia Morgan reports

LITHIUM AMERICAS ANNOUNCES DETAILS FOR COMPLETION OF SEPARATION

The separation of Lithium Americas Corp. into Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp. pursuant to a statutory plan of arrangement is expected to be completed on Tuesday, Oct. 3, 2023.

Under the terms of the separation, holders of Lithium Americas common shares will be entitled to receive one Lithium Argentina common share and one Lithium Americas (NewCo) common share for every Lithium Americas share held immediately before the effective time of the separation.

The company expects that public trading markets for Lithium Argentina shares, when issued, under the ticker symbol LAAC WI and Lithium Americas (NewCo) shares, when issued, under the ticker symbol LAC WI will commence on the New York Stock Exchange on or about Monday, Oct. 2, 2023, and will continue up to and including Tuesday, Oct. 3, 2023. At the close of trading on Tuesday, Oct. 3, 2023, Lithium Americas shares are expected to conclude regular-way trading on the NYSE and the Toronto Stock Exchange under the ticker symbol LAC, and Lithium Argentina shares and Lithium Americas (NewCo) shares are expected to conclude when-issued trading on the NYSE. For clarity, there will be no when-issued trading of Lithium Argentina shares or Lithium Americas (NewCo) shares on the TSX.

Subject to confirmation of the NYSE and the TSX, the company also anticipates that regular-way trading of Lithium Argentina shares under the ticker symbol LAAC and Lithium Americas (NewCo) shares under the ticker symbol LAC will begin on the NYSE and TSX at the start of trading on Wednesday, Oct. 4, 2023.

Registered shareholders of Lithium Americas are reminded to submit their certificates or direct registration statements representing their Lithium Americas shares with a duly completed letter of transmittal to Computershare Investor Services Inc., as depository, to receive certificates or DR statements representing their Lithium Argentina shares and Lithium Americas (NewCo) shares. New certificates or DR statement(s) representing Lithium Argentina shares and Lithium Americas (NewCo) shares will be mailed to LAC registered shareholders who have submitted a letter of transmittal together with their certificates or DR statements by the effective date on or about Oct. 6, 2023. Letters of transmittal and certificates or DR statements received after the effective date will be processed within 10 business days. The letter of transmittal is available on the company's SEDAR+ profile and EDGAR profile. The letter of transmittal will continue to be available on Lithium Argentina's SEDAR+ profile and EDGAR profile after the effective date.

There are currently 160,047,671 Lithium Americas shares outstanding, and it is anticipated that immediately upon the separation becoming effective, the number of Lithium Argentina shares and Lithium Americas (NewCo) shares outstanding shall be the same or substantially the same as the number of Lithium Americas shares currently outstanding. Persons trading in the when-issued market should be aware that the acquisition and beneficial ownership reporting rules under Canadian securities laws will apply to purchases of when-issued Lithium Argentina shares and Lithium Americas (NewCo) shares.

Investors are encouraged to consult with their own advisers regarding the specific implications of buying or selling Lithium Americas shares, Lithium Argentina shares and Lithium Americas (NewCo) shares.

The registration statement on Form 20-F of 1397468 B.C. Ltd., which will become Lithium Americas (NewCo) upon completion of the separation, was declared effective by the U.S. Securities and Exchange Commission on Sept. 28, 2023, and is available at the SEC website.

About Lithium Americas Corp.

Lithium Americas is advancing a separation of its U.S. and Argentine business units into two public independent companies. Lithium Argentina will retain the Cauchari-Olaroz project (44.8 per cent owned), focused on advancing toward full production capacity, and regional growth opportunities in the Pastos Grandes basin with the Pastos Grandes and Sal de la Puna projects (100 per cent and 65 per cent owned, respectively). Lithium Americas (NewCo) will retain the 100-per-cent-owned Thacker Pass project, focused on advancing construction with the target to commence production in the second half of 2026. The company's common shares currently trade on both the TSX and NYSE under the ticker symbol LAC.

We seek Safe Harbor.