CB&I Awarded Contract by Lithium Nevada LLC for Thacker Pass

THE WOODLANDS, Texas, Aug. 21, 2025 /PRNewswire/ -- CB&I today announced it has been awarded a large* contract by Lithium Nevada LLC, a wholly owned subsidiary of Lithium Americas Corp., to execute the engineering, procurement, fabrication, and construction (EPFC) of 36 flat-bottom atmospheric tanks at Thacker Pass ("the Project").

Thacker Pass, located in northern Nevada's Humboldt County, is the world's largest known measured lithium resource (measured and indicated) and reserve (proven and probable). The Project is managed by engineering, procurement and construction management (EPCM) contractor, Bechtel. As demand for lithium is expected to increase over the next decade, Thacker Pass will play a vital role in reducing U.S. reliance on foreign critical minerals and creating a secure domestic lithium battery supply chain.

"We are proud to support Lithium Nevada and Bechtel in delivering a lithium project of national significance," said Mark Butts, CB&I President and CEO. "Thacker Pass will help enable a U.S. supply of lithium and create well-paying jobs during construction and operations. Our team is honored to contribute CB&I's legacy of tank engineering and construction excellence to this important project."

The atmospheric storage tanks produced by CB&I for the Thacker Pass lithium mine will store various process solutions, chemicals, and products that are used during the multiple stages of purification to extract lithium from clay deposits. These tanks, designed to meet stringent environmental, seismic, and safety requirements, will be constructed using CB&I's proprietary field construction methods and state-of-the-art fabrication capabilities.

"CB&I's expertise in large-scale storage infrastructure for complex industrial processes that require precise specifications and reliability makes them a great fit for Thacker Pass," said Richard Gerspacher, Lithium Americas Executive Vice President, Capital Projects. "CB&I's proven track record, global expertise, and experience with industrial storage solutions makes them an ideal partner for this critical infrastructure component to support North America's largest lithium mining project."

"CB&I is an example of the industry-leading contractors and suppliers that have joined the team delivering Thacker Pass," said Bechtel Deputy Project Director, Dan Dawson. "We welcome them to the project and look forward to seeing the tanks take shape as the plant comes together."

*CB&I defines a large contract as between USD $50 million and $100 million.

About CB&I
CB&I is the world's leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 135+ year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com.

Forward-Looking Statements

CB&I cautions that statements in this communication that are forward-looking, and provide other than historical information, involve risks, contingencies, and uncertainties. These forward-looking statements include, among other things, statements about the expected timing and execution of projects, and statements that describe our business strategy, outlook, objectives, plans, intentions, or goals. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are based on various underlying assumptions and are subject to numerous risks, contingencies, and uncertainties, many of which are beyond our control, including, among others: adverse changes in the markets in which we operate or in credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope, or timing of contracts, contract cancellations, change orders, and other modifications or actions by our customers and other business counterparties; changes in industry norms or codes or applicable laws; actions by lenders, other creditors, customers, and other business counterparties of CB&I; and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of CB&I's management as of the date hereof. Except to the extent required by applicable law, CB&I undertakes no obligation to update or revise any forward-looking statement.

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