Ms. Allysa Howell reports

STANDARD LITHIUM ANNOUNCES QUARTERLY AT-THE-MARKET OFFERING UPDATE

Standard Lithium Ltd. has provided a quarterly update with respect to the company's previously announced at-the-market equity program launched on Nov. 17, 2023. The ATM program allows the company to issue and sell, from time to time, up to $50-million (U.S.) (or the Canadian-dollar equivalent) of its common shares from treasury to the public, at the company's discretion, pursuant to a sales agreement between the company and Citigroup and Canaccord Genuity.

During the quarterly period ended Dec. 31, 2023, the company issued a total of 100,100 common shares on the TSX Venture Exchange at an average price of $3.06 per share and 1,526,259 common shares on the NYSE American LLC at an average price of $2.16 (U.S.) under the ATM program, providing gross proceeds of $306,107 and $3,301,967 (U.S.), respectively. Commissions of $7,653 and $82,549 (U.S.) were paid to the agents in relation to these distributions.

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium-brine bearing properties in the United States. The company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labour and streamlined permitting. The company aims to achieve sustainable, commercial-scale lithium production through the application of a scalable and fully integrated direct lithium extraction and purification process. The company's signature projects, the phase 1A project and the South West Arkansas project, are located on the Smackover formation in southern Arkansas, a region with a long-standing and established brine processing industry. The company has also identified a number of highly prospective lithium brine project areas in the Smackover formation in east Texas and began an extensive brine leasing program in the key project areas. In addition, the company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino county, California.