Lithium Argentina AG

Cauchari-Olaroz 1

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Production: Lithium carbonate production totaled approximately 8,300 tonnes in the third quarter of 2025. The operation focused on improving consistency while implementing improvements designed to enhance long-term efficiency to better position the operation in the future.

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Lithium carbonate production for the nine months ended September 30, 2025, was approximately 24,000 tonnes, keeping the project on track to surpass the low end of the 2025 guidance of 30,000 – 35,000 tonnes.

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Operating Costs: The cost of sales for the third quarter of 2025 was $57 million, with cash operating costs of $6,285 per tonne 2 of lithium carbonate sold.

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For the nine months ended September 30, 2025, cash operating costs per tonne totaled about $6,3223. Third quarter costs were impacted by the recognition of deferred maintenance cost as part of ongoing optimization programs designed to further reduce costs.

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Pricing: Revenue for the third quarter of 2025 totaled $58 million, with an average realized price 3 of approximately $7,522 per tonne of lithium carbonate sold.

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At current lithium prices, the realized price for Cauchari-Olaroz is approximately $9,200 per tonne which reflects recovery in market pricing seen since July of this year.