Dr. Andy Robinson reports

SMACKOVER LITHIUM ANNOUNCES THE AWARD OF WELL FIELD EPCM CONTRACT FOR THE SOUTH WEST ARKANSAS PROJECT AHEAD OF FINAL INVESTMENT DECISION

Standard Lithium Ltd.'s Smackover Lithium, a partnership between the company and Equinor, through subsidiaries of Equinor ASA, has entered into an engineering, procurement and construction management (EPCM) agreement with Wood Group USA, Inc. focused on the upstream well field portion of the South West Arkansas (SWA) project.

Wood is a global leader in consulting, engineering and operations for the energy and materials sectors and has significant expertise in managing complex, multidisciplinary projects encompassing EPCM across diverse sectors, including lithium and broader minerals.

The well field for the SWA project comprises four well pads supporting 12 supply and 10 injection wells, brine gathering and return pipelines from the well pads to the central processing facility (CPF) and a gas-gathering system from the well pads to a disposal well in the area.

Wood will deliver EPCM services for the well field surface facilities including well pads, pipelines and related third party interfaces. The scope includes project support services for the subsurface, drilling and wells activities, which will be led by the project team, leveraging Equinor's strong internal expertise and capabilities. A separate engineering, procurement, construction and commissioning (EPCC) agreement is expected to be signed with a different counterparty for the CPF, which includes the direct lithium extraction process and conversion to battery-quality lithium carbonate. The EPCC agreement is also expected to be completed in the second quarter.

The SWA project is designed to produce 22,500 tonnes per annum of battery-quality lithium carbonate production in its initial phase. Upstream well field-related activities account for less than one-third of the project's estimated capital expenditure, the latest published details of which are provided in the definitive feasibility study filed on Oct. 15, 2025.

The agreement includes a limited notice to proceed (LNTP) that allows work to continue on key activities to de-risk the project and optimize the construction schedule. Under the LNTP, work will focus on detailed engineering, advancing permitting, and early procurement activities related to identifying and engaging contractors and vendors of major equipment and materials. The expectation is to engage Wood on a full notice to proceed following a positive final investment decision, which is expected to occur in 2026.

Dr. Andy Robinson, president and chief operating officer of Standard Lithium, stated, "We are excited by the opportunity to work with Wood and value the experience and reliability they bring to our project. Signing this agreement was made possible by our 18-month detailed front-end engineering design [FEED] process that yielded strong capital definition and is critical as we prepare for a final investment decision before moving into construction shortly thereafter."

The definitive feasibility study for the SWA project is available for review under the company's profile on SEDAR+ and on the company's website. For highlights of this study, please refer to the company's press release dated Sept. 3, 2025.

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 DLE and purification process.

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