Mr. David Park reports

STANDARD LITHIUM PROVIDES CORPORATE UPDATE

Standard Lithium Ltd. is providing a general corporate update demonstrating continuous advancement and derisking of corporate objectives.

Principal corporate updates and highlights include:

• Commencement of a rigorous and disciplined project finance and off-take process for the first phase of the South West Arkansas (SWA) project (first phase contemplates 22,500 tonnes per year of battery-quality lithium carbonate production). A banking adviser with recent and relevant success has been selected to lead an intensive off-take selection and project finance (debt) process. This two-pronged engagement with potential off-take partners and debt providers started in January and is expected to be completed in the third quarter and fourth quarter respectively. The company looks forward to releasing additional information as the process advances.

• The Smackover lithium joint venture, in partnership with Equinor, continues the successful mineral leasing program in East Texas (ETX). The company first started extensive mineral leasing in the most prospective areas of the Smackover formation in East Texas in 2022. Since the formation of the JV in May, 2024, it has continued to grow the acquired lease position, and is now actively leasing within a total area of 185,000 acres across several counties in East Texas.

• The first ETX project area of approximately 67,000 acres has been identified. This project area is centred on Franklin county, and the company has previously drilled three exploratory boreholes in and adjacent to this project area and reported the highest known lithium in brine grades in North America (maximum lithium grade of 806 milligrams per litre (mg/L) reported). Some of the existing wells will be resampled during the second quarter and Q3 of this year, and it is expected that a maiden inferred resource report for this highly prospective lithium resource will be published in Q3 of this year.

• The company, in partnership with Koch Technology Solutions, continues to use the demonstration plant in Union county as an essential test and technology development center to not only demonstrate the derisked and commercially ready DLE technology for the first commercial project at SWA, but also as a test-bed to continuously improve the entire flowsheet for future projects.

• Commercial development at the Lanxess projects is not ruled out, but the company's focus on building the next phase of lithium projects in North America is centred on the JV opportunities at the SWA project and in East Texas. The company is confident the brine resources that the JV is securing in East Texas will come to be seen as the premier lithium brine assets in North America.

David Park, chief executive officer of Standard Lithium, said: "The Standard Lithium team, in combination with our partners Equinor and Koch Technology Solutions, has been working diligently to keep on moving the projects forward, derisking key workstreams and hitting development milestones. As we've said before, it's time for us to prioritize, focus and execute. It is now clear that executing on our SWA project with our partners is our top priority, and that we see incredible potential to build on that foundation and grow with them into East Texas."

Six-month fiscal period ended Dec. 31, 2024, call and webcast

The company will hold a conference call and webcast to discuss its six-month fiscal period ended Dec. 31, 2024, on Friday, March 28, at 3:30 p.m. ET. Access to the call is available via webcast or direct-dial.

Conference call and webcast details

Standard Lithium six-month fiscal period ended Dec. 31, 2024, results call and webcast will be held March 28, 2025, at 3:30 p.m. Eastern Time (United States and Canada).

Participant information

Conference ID:  6644028

USA/international toll:  1-646-307-1963

USA toll-free:  800-715-9871

Canada -- Toronto:  647-932-3411

Canada -- toll-free:  800-715-9871

Attendee webcast link:  on-line

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labour and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated DLE and purification process. The company's flagship projects are located in the Smackover formation, a world-class lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively exploring promising lithium brine prospects in East Texas.

Qualified person

Steve Ross, PGeo, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral projects, and vice-president resource development for the company, has reviewed and approved the relevant scientific and technical information in this news release.

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