Mr. Daniel Rosen reports

STANDARD LITHIUM ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON SHARES

Standard Lithium Ltd. intends to offer and sell common shares in an underwritten public offering of $120-million. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Standard Lithium also expects to grant the underwriters a 30-day option to purchase up to an additional 15 per cent of the common shares sold under the offering at the public offering price.

Morgan Stanley and Evercore ISI will serve as co-lead book-running managers for a syndicate of underwriters, including BMO Capital Markets, as a book-running manager, for the proposed offering.

The company intends to use the net proceeds from the offering to finance capital expenditures at the South West Arkansas project and the Franklin project in eastern Texas and for working capital and for general corporate purposes.

In connection with the offering, the company filed, with the securities commissions in all of the provinces and territories of Canada other than Quebec, a preliminary prospectus supplement to the company's existing base shelf prospectus filed with the securities commissions in each of the provinces and territories of Canada and filed a preliminary prospectus supplement in the United States to the company's existing base shelf prospectus forming part of an effective registration statement on Form F-10 (file No. 333-289110) filed with the U.S. Securities and Exchange Commission (SEC) under the U.S./Canada multijurisdictional disclosure system.

The offering is being made in the United States and in each of the provinces and territories of Canada, except Quebec. The prospectus supplements, the base shelf prospectuses and the registration statement contain important information about the company and the proposed offering. Prospective investors should read the prospectus supplements, the base shelf prospectuses, and the registration statement and the documents incorporated by reference therein before making an investment decision. The prospectus supplement (together with the related base shelf prospectus) is available on SEDAR+. The U.S. prospectus supplement (together with the registration statement) is available on the SEC's website. The final prospectus supplement (together with the related base shelf prospectus) will be available on SEDAR+ and the final U.S. prospectus supplement (together with the registration statement) will be available on the SEC's website. Alternatively, the final prospectus supplement (together with the related base shelf prospectus) may be obtained, when available, upon request by contacting Morgan Stanley Canada Ltd. (Morgan Stanley and Co. LLC), 180 Varick St., second floor, or BMO Nesbitt Burns Inc. (BMO Capital Markets), Brampton Distribution Centre, care of The Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151 (extension 4312) or by e-mail at torbramwarehouse@datagroup.ca, and the final U.S. prospectus supplement (together with the registration statement) may be obtained, when available, upon request by contacting Morgan Stanley and Co., 180 Varick St., second floor, or Evercore Group LLC, Equity Capital Markets, 55 East 52nd St., 35th floor, New York, N.Y., 10055, by telephone at 888-474-0200 or by e-mail at ecm.prospectus@evercore.com.

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 through 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, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively advancing a promising lithium brine resource position in eastern Texas.

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

We seek Safe Harbor.