Dr. Andy Robinson reports

STANDARD LITHIUM SIGNS KEY AGREEMENT TO ADVANCE DESIGN OF FIRST COMMERCIAL LITHIUM PLANT

Standard Lithium Ltd. has completed all necessary agreements with Lanxess Corp. to secure access to the proposed commercial lithium plant site and conduct all required fieldwork to support the definitive feasibility study (DFS) under way. Subsequent to signing the site access agreement, the company has commenced the site work necessary for the design of its first commercial lithium plant.

Dr. Andy Robinson, president of Standard Lithium, commented: "The company is pleased to reach this important milestone. Our team has successfully negotiated and agreed to a key agreement with Lanxess, the site owner, to exclusively secure the required property for our commercial facilities and allow us to start working on the ground at the proposed location of the first commercial lithium project. The data gathered over the next few months will be vital to allow the OPD team to design the plant and locate key equipment on the large land area available to Standard Lithium at Lanxess's South Plant facility. Once the important ground conditions are determined, and the location of key equipment can be fixed, then the engineering work to allow for connection between the Standard Lithium plant and Lanxess's existing brine infrastructure present at the site can begin. We look forward to announcing more developments as the design towards the company's first commercial lithium project unfolds."

The site access agreement also establishes fundamental commercial plant development parameters and secures the lease area for commercial development (pending key milestones, such as a positive DFS). This first project, designated as phase 1A, is located at the Lanxess South facility. The fieldwork is being supervised by the company's front-end engineering design (FEED) contractor, Optimized Process Designs LLC (OPD), a Koch Industries EPC (engineering, procurement and construction) contractor (see news release Sept. 7, 2022). OPD and its design partners have developed a scope of work that will allow them to understand all necessary site conditions (such as geotechnical and environmental baseline conditions), and have awarded the site investigation work to a series of Arkansas-based contractors. The contractors are currently completing the site clearing required for access to the greenfield property and will be executing the intrusive field investigation program over the next one to two months. These essential design data will then be used by OPD and its team to assist in designing the commercial plant (such as foundation design for tanks/buildings).

About Standard Lithium Ltd.

Standard Lithium is a leading precommercial lithium development company with a portfolio of projects in process. The company's flagship projects, the Lanxess property project and the South West Arkansas project, are located in southern Arkansas near the Louisiana state line. The company is focused on the evaluation and testing of commercial lithium extraction and purification from brine sourced from approximately 180,000 acres of unitized leases across these two projects. The company operates a first-of-its-kind industrial-scale direct lithium extraction (DLE) demonstration plant at the Lanxess property project. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. A definitive feasibility study (DFS) and front-end engineering study (FEED) for phase 1A of the Lanxess property project commenced in September, 2022. A preliminary feasibility study (PFS) of the South West Arkansas project commenced in May, 2022. The company is also pursuing the resource development of approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino county, California.

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