SCHEDULE: Ganfeng Lithium Reduces Stake in Lithium Americas

Ganfeng Lithium Group Co., Ltd. has reduced its beneficial ownership in Lithium Americas Corp. to 3.5% of outstanding common shares.

Summary

• Ganfeng Lithium Group Co., Ltd., through its wholly-owned subsidiary GFL International Co., Limited, beneficially owns 8,504,426 common shares of Lithium Americas Corp.
• This ownership represents 3.5% of Lithium Americas Corp.'s total common shares outstanding.
• The percentage is calculated based on 241,662,806 common shares outstanding as of August 14, 2025, as reported by Lithium Americas Corp. in its Form 10-Q for the quarter ended June 30, 2025.
• Ganfeng Lithium Group Co., Ltd. holds shared voting and shared dispositive power over all 8,504,426 beneficially owned shares.
• This document is an Amendment No. 1 to a previous Schedule 13G filing, indicating a change in the reported beneficial ownership.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative as a major strategic investor, Ganfeng Lithium, has reduced its stake in Lithium Americas Corp. to 3.5%. While they remain a shareholder, the reduction from a likely higher previous position (implied by 'Amendment No. 1' and the 13G filing requirement) could be perceived as a decrease in confidence or a shift in strategic priorities.

Positives

• Ganfeng Lithium, a major global lithium producer, maintains a significant, albeit reduced, strategic investment in Lithium Americas Corp., indicating continued interest in the company's prospects.

Negatives

• Ganfeng Lithium Group Co., Ltd. has reduced its beneficial ownership in Lithium Americas Corp. to 3.5%, implying a divestment of a portion of its previously held stake (as this is an Amendment No. 1 and the current stake is below the initial 5% reporting threshold).
• A reduction in stake by a prominent strategic investor like Ganfeng Lithium could be perceived negatively by the market, potentially signaling a shift in investment strategy or a less optimistic outlook on Lithium Americas Corp.

Risks

• The reduction in a significant shareholder's stake could lead to increased selling pressure on Lithium Americas Corp.'s stock.
• A decreased ownership percentage by Ganfeng Lithium might reduce its strategic influence or the potential for future partnership opportunities with Lithium Americas Corp.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Lithium Americas Corp.'s future operations or financial performance.

Management Comments

• Mr. Xiaoshen Wang, Vice Chairman and Chief Executive Officer of Ganfeng Lithium Group Co., Ltd., certified the information set forth in this statement.

Industry Context

Ganfeng Lithium Group Co., Ltd. is a leading global lithium producer. Its decision to reduce its stake in Lithium Americas Corp., a company focused on lithium development, reflects ongoing strategic adjustments within the dynamic global lithium market, which is influenced by factors such as electric vehicle demand, supply chain stability, and commodity prices.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure of beneficial ownership and does not contain operational or financial data suitable for direct comparison to industry-specific benchmarks or competitor performance.

Related Party Transactions

• The 8,504,426 common shares are held of record by GFL International Co., Limited, which is a wholly owned subsidiary of Ganfeng Lithium Group Co., Ltd.

Stakeholder Impact

• Shareholders of Lithium Americas Corp. may react negatively to the reduction in stake by a significant strategic investor, potentially leading to downward pressure on the stock price.
• Management of Lithium Americas Corp. may face increased scrutiny or questions from investors regarding the implications of Ganfeng Lithium's reduced ownership.

Next Steps

• The filing does not mention any specific future actions, events, or milestones for Lithium Americas Corp. or Ganfeng Lithium Group Co., Ltd. beyond the reporting of beneficial ownership.

Key Dates

Recommendation

While the reduction in stake by Ganfeng Lithium is a negative signal, the company still retains a significant 3.5% ownership, indicating continued, albeit reduced, interest. Investors should hold to observe future developments and management's response to this change, as well as broader market conditions for lithium, before making further investment decisions.

Keywords

Lithium Americas, Ganfeng Lithium, Beneficial Ownership, SEC Filing, Schedule 13G, Lithium Mining, Equity Stake, Shareholding, Investment