Mr. Daniel Rosen reports

STANDARD LITHIUM ESTABLISHES AT-THE-MARKET EQUITY OFFERING PROGRAM UNDER NEW BASE SHELF PROSPECTUS

Standard Lithium Ltd. has established an at-the-market equity program (the ATM program) under its new base shelf prospectus dated July 30, 2025, that allows the company to issue and sell, from time to time through agents, 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. This ATM program replaces the prior program established in November, 2023, that has terminated.

Sales of offered shares, if any, under the ATM program are anticipated to be made in transactions that are deemed to be at-the-market distributions as defined in National Instrument 44-102 -- Shelf Distributions and an at-the-market offering within the meaning of the U.S. Securities Act of 1933, as amended, including sales made directly on the TSX Venture Exchange, the NYSE American LLC or any other trading market for the offered shares in Canada or the United states, at the prevailing market price at the time of sale. The volume and timing of sales under the ATM program, if any, will be determined in the company's sole discretion, and at the market price prevailing at the time of each sale, and, as a result, sale prices may vary. Distributions of the offered shares through the ATM program, if any, will be made pursuant to the terms of an at-the-market sales agreement among the company and Canaccord Genuity and Evercore ISI. The ATM program will be effective until the issuance and sale of all of the offered shares issuable pursuant to the ATM program, unless terminated prior to such date in accordance with the terms of the Sales agreement.

The company expects to use the net proceeds of the offering to finance continuing work programs to advance the South West Arkansas project, exploration, leasehold acquisition and development activities in East Texas, for working capital, and for general corporate purposes. Listing of the offered shares sold pursuant to the ATM program on the TSX-V and/or the NYSE American will be subject to fulfilling all applicable listing requirements.

The sale of offered shares through the ATM program is being made pursuant to a prospectus supplement dated Aug. 8, 2025, to the company's short form base shelf prospectus dated July 30, 2025, filed with the securities commissions in each of the provinces and territories of Canada, and in the United States pursuant to a prospectus supplement dated Aug. 8, 2025, to the company's short form base shelf prospectus contained in the company's effective registration statement on Form F-10 (file No. 333-289110) filed with the U.S. Securities and Exchange Commission (the SEC) under the U.S./Canada Multijurisdictional Disclosure System. The prospectus supplement, the base prospectus, the U.S. prospectus supplement and the registration statement contain important detailed information about the company and the ATM program. prospective investors should read the prospectus supplement, the base prospectus, the registration statement, the U.S. prospectus supplement and the other documents the company has filed for more complete information about the company and the ATM program before making an investment decision. Copies of the prospectus supplement and the base prospectus are available on SEDAR+ and copies of the U.S. prospectus supplement and the registration statement are available on EDGAR.

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 high-grade 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 direct lithium extraction 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 ASA, 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.

Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol SLI.

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