Strategic Collaboration Agreement Signed With Lithium Americas Corp.

Green Technology Metals Limited (ASX: GT1) (GT1 or the Company) is pleased to announce that it has executed a non- binding Strategic Collaboration Agreement (SCA) with Lithium Americas Corp. (LAC). Through the SCA, the Company aims to leverage the considerable expertise of both parties towards the joint development of a strategically located, integrated lithium chemicals business in North America and to accelerate ongoing development of GT1’s Ontario Lithium Projects.

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HIGHLIGHTS

• Strategic Collaboration Agreement (SCA) executed with major North American lithium industry participant and GT1 substantial shareholder, Lithium Americas Corp. (TSX/NYSE:LAC).
• Builds upon previously established collaboration framework in relation to assessment of a strategically located, integrated lithium chemicals business in North America.
• Provides non-exclusive rights to undertake collaborative activities between the two parties.
• Establishes a Strategic Management Committee for further evaluation of joint exploration and development opportunities.
• Significant further step towards GT1 building the pre-eminent vertically integrated lithium business in Ontario and North America.

Commenting on the execution of the SCA with LAC, GT1 Non-Executive Director, Cameron Henry, said:

“GT1 understands the value of people and expertise - it was a cornerstone on which the business was founded. As such, we are very pleased to have taken this further step with LAC. When we welcomed LAC on to our register via a US$10M strategic placement in April we were of the strong view that our businesses held highly complementary skillsets. GT1, and its key project partners, possess extensive lithium exploration, mining, and upstream and downstream processing expertise. The LAC team holds deep downstream lithium chemical conversion capability and understanding, as ably demonstrated at their Lithium Technical Development Centre in Reno, Nevada – which we had the privilege of visiting a few months ago.

“The collaboration between the groups has already commenced alongside Primero Group, making the combination of hard rock lithium development and processing one of world-renowned experience that will continue the growth of both businesses. Both GT1 and LAC have the shared objective of building the pre-eminent vertically integrated lithium business in North America. With the recent passing of the Inflation Reduction Act by U.S. Congress, and the substantial domestic battery minerals sourcing requirements this imposes on car manufacturers seeking to attract consumer tax credits for their vehicles, the value of this end goal has increased further again. We look forward to working more closely with LAC over the coming months and years in pursuit of our shared aims in North America.”

LAC strategic investment and collaboration framework context

In April 2022, LAC acquired a 5.2% shareholding in GT1 via a US$10 million strategic equity injection (which formed part of a broader GT1 share placement of approximately US$55 million; see GT1 ASX release dated 28 April 2022, Investment from Lithium Americas Corp and A$55m Equity Raise).

Concurrent to the share placement, the two parties entered a non-binding collaboration framework outlining potential cooperation between the two businesses in relation to all aspects of the lithium processing and production value chain, from the processing of spodumene through to the production of battery-grade lithium chemicals.

LAC is listed on the TSX and NYSE with a market capitalisation of approximately US$3.8B. It is currently constructing the Cauchari-Olaroz lithium brine project in Argentina with development approaching completion. LAC is also targeting the development of a North American lithium supply chain through the development of its Thacker Pass deposit in Nevada. Thacker Pass is the largest known lithium resource in the United States.

Strategic Collaboration Agreement (SCA)

Building upon the foundation established with the April 2022 collaboration framework, the SCA provides non-exclusive rights for GT1 and LAC to undertake collaborative activities including but not limited to: the sharing and development of resources in respect to hard rock lithium pegmatite assessments, consultations on findings, developments, new techniques, and opportunities. This agreement represents a further step forward for both parties in their goal towards the joint development of midstream and downstream processing strategies and routes for battery-grade lithium chemicals in Ontario and across North America.

With the SCA, LAC and GT1 agree to establish mechanisms to encourage increased communication and knowledge- sharing between their respective management and technical teams, with the objective of identifying, evaluating and fostering joint collaboration to the benefit of each. The parties agree to the shared use of infrastructure, allowing the GT1 to leverage LAC’s Lithium Technical Development Center in Reno, Nevada, to further test and develop processing into intermediate and final lithium products. The parties also agree to the establishment of a Strategic Management Committee, which will be responsible for the discussion of further strategic opportunities for joint exploration and development.

There are no conditions precedent to the SCA and the SCA can be mutually terminated for convenience by thirty days’ notice. There are no formal requirements on either GT1 or LAC to provide service in kind of a certain value or to commit funds towards the objectives of the SCA. While GT1 believes the SCA will strengthen its relationship with LAC and create long term value for GT1 and its shareholders, it does not anticipate the SCA having a near term financial impact on GT1. LAC is a substantial shareholder of GT1.

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