Lithium Argentina AG has announced that the expansion of the Cauchari-Olaroz lithium brine operation under Argentina’s Large Investment Incentive Regime has obtained the approval of the Evaluation Committee. The expansion targets production capacity for an additional 45,000 tonnes per annum of lithium carbonate equivalent, building on Cauchari-Olaroz’s Stage 1 operating capacity of 40,000 tpa.

The approval was announced today by Luis Caputo, the Minister of Economy, following completion of the final technical evaluation under the RIGI review process, the formal resolution is expected in June 2026.

Sam Pigott, CEO of Lithium Argentina, commented:

“Securing RIGI approval is an important milestone in de-risking the Stage 2 expansion at Cauchari-Olaroz. With Stage 1 performing well, the operation is generating strong cash flow and well positioned to support this next phase of growth.”

“Argentina continues to provide a constructive backdrop for large-scale investment, reinforcing the strategic value of our asset base. This is reflected in the strong interest we are seeing at Pozuelos-Pastos Grandes from a broad global group of potential partners and customers focused on building a diversified and resilient supply chain of lithium chemicals – engagement that supports and further de-risks our long-term growth strategy.”

Benefits of RIGI

RIGI is Argentina’s federal incentive regime for large-scale investments in strategic export industries, including lithium. RIGI provides Stage 2 with 30 years of foreign exchange regulation, fiscal and customs stability, among other significant benefits. Key features include:

• Investment commitment: A minimum of US$200 million in accountable assets, with at least US$80 million deployed within the first two years from approval.
• Legal certainty: Dispute resolution mechanisms and safeguards against regulatory changes.
• Tax incentives: A 25% corporate income tax rate (down from 35%), lower dividend/remittances withholding tax (50% reduction after seven years), accelerated depreciation and a beneficial VAT regime (including issuing VAT credit certificates in lieu of payment in cash).
• Customs: Duty-free import of approved capital goods for construction and operation, and exemption from duties to exports after three years since RIGI approval.
• Foreign exchange: Ability to retain export proceeds offshore and unrestricted access to hard currency for debt service and shareholder distributions.

The RIGI approval follows a series of key project advancements, including the updated mineral resource estimate at Cauchari-Olaroz announced in March 2026, which the Company believes demonstrates sufficient resource scale to support future expansion and the submission of the Stage 2 environmental permit application.

Next Steps

The Company continues to advance Stage 2 which is expected to leverage the strong cash flow generated from Stage 1 operation, reinforcing a disciplined and capital-efficient approach to growth. Next steps to advance and de-risk the Company’s growth plan include:

• Stage 2 permitting: Environmental permit application submitted in December 2025, supported by the completion of a basin-wide hydrological resource model supporting Stage 2 production capacity.
• Stage 2 development plan: Technical and economic plans advancing, with definitive development plan results expected in mid-2026.
• PPG: Following receipt of environmental permits in November 2025 for the first phase, a RIGI application was submitted in early 2026 based on a three-phase development plan targeting total capacity of 150,000 tpa of LCE. Lithium Argentina and Ganfeng continue to advance discussions with potential strategic partners regarding minority ownership interests.