LAC: the balance sheet

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For the year ending 2025-12-31, LAC has $2,579,048K in assets. $992,399K in debts. $568,226K in cash and cash equivalents.

Balance Sheets	2025-12-31
Cash (note 5)	568,226
Restricted cash (note 5)	337,383
Receivables	4,110
Prepaids and deposits	1,920
Total current assets	911,639
Investments measured at fair value (note 6)	4,863
Total mineral properties, plant and equipment	1,358,227
Accumulated depreciation	14,223
Mineral properties, plant and equipment, net (note 7)	1,344,004
Deferred financing costs (note 3)	311,808
Other assets (note 8)	6,734
Total assets	2,579,048

Accounts payable	87,848
Accrued liabilities (note 9)	83,441
Current portion of lease liabilities (note 10)	5,530
Total current liabilities	176,819
Convertible debt and conversion feature (note 11)	160,017
Warrant obligation (note 3)-LACWarrants	83,796
Warrant obligation (note 3)-JVWarrants	150,295
Doe loan (note 3)	350,987
Royalty and production payment arrangements (note 11)	50,844
Lease liabilities (note 10)	15,668
Reclamation liabilities	473
Other liabilities (note 10)	3,500
Total liabilities	992,399
Non-controlling interest (note 4)	527,895
Common stock, no par value, unlimited authorized 314,335 and 218,465 shares issued and outstanding as of december 31, 2025 and december 31, 2024, respectively (note 12)	1,279,902
Additional paid-in capital	0
Accumulated deficit	-221,148
Total stockholders' equity	1,058,754
Total liabilities, non-controlling interest and stockholders' equity	2,579,048

Unit: Thousand (K) dollars (except for numbers of shares and EPS).