Lithium Argentina AG

BACKGROUND

This Management’s Discussion and Analysis (“MD&A”) of Lithium Americas (Argentina) Corp. (“Lithium Argentina” or the “Company”), prepared as of March 20, 2024, should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2023 (“YE 2023 financial statements”). Refer to Notes 2 and 3 of the YE 2023 financial statements for disclosure of the Company’s material accounting policies. All amounts are expressed in United States dollars, unless otherwise stated. References to CDN$ are in Canadian dollars. This MD&A includes certain statements that may be deemed “forward-looking statements”, “forward-looking information”, “future-oriented financial information” and/or “financial outlook”. and readers should read the cautionary note contained in the section titled “Forward-Looking Statements” of this MD&A. Information contained on the Company’s website or in other documents referred to in this MD&A is not incorporated by reference herein and does not form part of this MD&A unless otherwise specifically stated.

The Company’s head office and principal address is Suite 300, 900 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1E5. The Company trades in Canada on the Toronto Stock Exchange (“TSX”) and in the United States on the New York Stock Exchange (“NYSE”) under the symbol “LAAC”. Additional information relating to the Company, including key risk factors which may impact the Company’s business and financial condition and other information, is contained in the Company’s Annual Information Form (“AIF”), Form 40-F and other filings, which are available on the Company’s website at www.lithium-argentina.com and on SEDAR+ atwww.sedarplus.ca.