Lithium Argentina AG

CURRENT SHARE DATA

Issued and outstanding securities of the Company as at the date of this MD&A were as follows:

In connection with the Separation, holders of all DSUs, RSUs and PSUs of the Company pre-Separation (collectively, the “Old LAC Units” and, with respect to the PSUs, the “Old LAC PSUs”) received, in lieu of such outstanding Old LAC Units, equivalent incentive securities of the Company (collectively, the “Company Units”) and of Lithium Americas (NewCo) (collectively, the “New LAC Units”). In accordance with the Arrangement, each Old LAC unit was replaced with one New LAC Unit and 0.87 of the Company Unit.

The Old LAC Units exchanged were cancelled. Incentive securities (other than PSUs) of one entity, being either the Company or Lithium Americas (NewCo), held by persons who were not employed as a director, officer, or employee or engaged as a service provider of that entity subsequent to the Separation but are employed or engaged with the other entity, immediately vested and the holder of these incentive securities became entitled to receive the underlying share after completion of the Separation. The replacement PSUs of each of the Company and Lithium Americas (NewCo) will continue, but are subject to the same time based vesting period as the Old LAC PSUs they replace and upon vesting thereof will be settled by the issuance of one underlying share irrespective of the applicable performance multiplier to which the original Old LAC PSU was subject, except with respect to Old LAC PSUs that were fully vested prior to the Separation, in which case the replacement PSUs will be settled for the number of underlying shares determined based on the performance multipliers of the Old LAC PSUs they replaced.