Bangchak Petroleum Public : Additional Investment in Lithium Americas Corp.

-TRANSLATION-

No. 10000/006/2017

January 20, 2017

Subject: Additional investment in Lithium Americas Corp. To: President, The Stock Exchange of Thailand

1

At its meeting No. 1/2017 held on Tuesday, January 17, 2017, the Board of Directors of The Bangchak Petroleum Public Company Limited ("Company") resolved to approve the additional investment by BCP Innovation Pte. Ltd. ("BCPI"), a subsidiary of the Company, in Lithium Americas Corp. ("LAC"), a listed company listed in the Toronto Stock Exchange, Canada, which is developing Lithium mining projects in Argentina and the United States of America. The key investment details are as follows:

1. Transaction Date:	The Investment Agreement between BCPI and LAC was executed on January 19, 2017.
2. Involved Parties:	BCPI, as the investor, and LAC, as the issuer.
Relationship:	BCPI is holding approximately 6.7% of the total paid-up capital of LAC (as of September 30, 2016).
3. Transaction Details
3.1 Transaction Type:	BCPI shall subscribe for 50 million LAC newly-issued common shares, at the purchase price of CAD 0.85 per share, making the total investment value of CAD 42.50 million. Such investment however is subject to the condition that LAC shall arrange for a shareholders' meeting to secure an approval on issuance of newly-issued common shares for private placement offered for subscription by BCPI at such agreed amount and price no later than April 15, 2017. Upon subscription for such newly-issued common shares, BCPI will grant loan to LAC in an amount of not exceeding USD 80 million for funding of and/or lending to Minera Exar S.A. ("Minera Exar"), in which LAC holds 50% equity interest, and which is holding mining concession to explore and develop Lithium mining project in Argentina, based on the percentage of LAC's investment in Minera Exar. The loan proceeds shall then be utilised for the construction and operations of Minera Exar's Cauchari Olaroz Project. In consideration of such lending, BCPI shall be entitled to off-take Lithium and by-product Potash, from Minera Exar, under the Off-take Agreement at the agreed quantity for a term of 20 years from the commencement date of commercial production of the Cauchari Olaroz Project. Terms and conditions for such lending and off-take purchase shall be as those specified for in ordinary course of business and at fair price fixed in similar transaction between trading parties of independent status and not of related parties.

3.2 Transaction size: The transaction size is approximately USD 32 million

(equivalent to approximately Baht 1,200 million), which is less than 15% according to the rules on the acquisition and disposition of assets.

1. Asset Details

2. Business Description

   Company name: Lithium Americas Corp.

   Paid-up capital: USD 108.5 million (as of September 30, 2016)

   Sale price per share: CAD 0.85 per share (equivalent to USD 0.65 per

   share)

   Type of Business: Lithium mining project with a capacity of more than

   50,000 tons per year (the project is under development)

   Location of Business: Jujuy Province, Argentina and Nevada State, the

   United States of America

   (Unit : USD million)
   2016
   Assets	50.5
   Liabilities	2.4
   Shareholders' equity	48.1
   Income	0.6
   Expenses	(12.3)
   Net profit (loss)	(22.8)

3. Summary of Financial Statement

4. Shareholding Structure

   Shareholders	Before Transaction Occurred		After Transaction Occurred
   	Shares	% of ordinary shares	Shares	% of ordinary shares
   (1) Geologic Resource Partners LLC	32,019,305	10.6%	32,019,305	7.5%
   (2) BCPI	20,286,757	6.7%	70,286,757	16.4%
   (3) Ganfeng (GFL International Co., Ltd.)	-	0%	75,000,000	17.5%
   (4) Others	250,228,379	82.7%	250,228,379	58.6%
   Total	302,534,441	100%	427,534,441	100%

5. Payment Method: Paid by cash in full amount

6. Valuation Criteria:	Negotiation between the Company and LAC with reference to most updated market price.
7. Source of Fund for the Transaction:	Cash from operation
8. Expected Benefits from the Investment:	The investment is in line with the Company's strategy to expand the natural resources business which could be integrated with innovative energy business in order to increase corporate value and diversify the risk.
9. Opinion of the Board of Directors on Decision to Enter into Transaction	The Board of Directors unanimously approved the entering into the transaction.

Please be informed accordingly.

Yours sincerely,

-signed-

(Mr. Chaiwat Kovavisarach) President and Chief Executive Officer

Investor Relations Division Tel : [phone]