Jeffrey Robertson

Jeff Robertson

- Standard Lithium Ltd., through its joint venture Smackover Lithium, announced a **maiden inferred resource** for its **Franklin Project** in the northeastern region of Texas on **September 24, 2025**.  **[1537137_0001104659-25-099749_tm2528823d1_ex99-1.htm:0]** **[1537137_0001104659-25-099749_tm2528823d1_ex99-1.htm:1]** 
- The Franklin Project's inferred resource includes **2,159 thousand tonnes of Lithium Carbonate Equivalent (LCE)** and **406 thousand tonnes of elemental lithium**.  **[1537137_0001104659-25-099749_tm2528823d1_ex99-1.htm:0]** 
- The project features an **average lithium concentration of 668 mg/L**, which represents the **highest reported lithium-in-brine grades in North America**.  **[1537137_0001104659-25-099749_tm2528823d1_ex99-1.htm:0]** 
- The joint venture's ultimate goal is to reach production of **over 100,000 tonnes of lithium chemicals per year in Texas** through multiple phases.  **[1537137_0001104659-25-099749_tm2528823d1_ex99-1.htm:0]**

Standard Lithium's Joint Venture Announces Maiden Inferred Resource for Franklin Project

- Smackover Lithium, a **55:45 owned Joint Venture** between **Standard Lithium Ltd.** and Equinor, filed the Definitive Feasibility Study (DFS) for its South West Arkansas (SWA) project on **October 14, 2025**.  **[1537137_0001171843-25-006417_exh_991.htm:0]** 
- The DFS contemplates a production capacity of **22,500 tonnes per annum** of battery-quality lithium carbonate over a **20-year** modeled operating life.  **[1537137_0001171843-25-006417_exh_991.htm:0]** 
- Key financial highlights from the DFS include an unlevered pre-tax internal rate of return (IRR) of **20.2%**, average cash operating costs of **$4,516/t**, all-in costs of **$5,924/t**, and an all-in Class III capital expenditure estimate of **$1.45 billion**.  **[1537137_0001171843-25-006417_exh_991.htm:0]** 
- Construction for the project is expected to commence in **2026** after a final investment decision, with first production targeted in **2028**.  **[1537137_0001171843-25-006417_exh_991.htm:0]** 
- The SWA Project is poised to be the **first commercial Direct Lithium Extraction (DLE) operation in the United States** and the first lithium production in the Smackover Formation.  **[1537137_0001171843-25-006417_exh_991.htm:0]**

Standard Lithium's Joint Venture Files Definitive Feasibility Study for South West Arkansas Project

- The Definitive Feasibility Study for the South West Arkansas Project indicates a **post-tax Net Present Value (NPV) of US$1,275 million** (at an 8% discount rate) and an **Internal Rate of Return (IRR) of 18.2%**, with a **payback period of 4.2 years**.  **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:25]** 
- The project is designed for an **average annual lithium carbonate production of 22,155.8 tonnes (LCE)** over a **20-year operating life**, with **initial capital costs estimated at US$1,448.9 million**.  **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:25]** 
- The resource estimates for the initial phase of the Upper Smackover Formation have been **upgraded from indicated to measured**, and **proven reserves are estimated at 447,000 tonnes LCE** for the first 20 years of mine life, with **probable reserves of 262,000 tonnes LCE** for years 21 to 40.  **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:80]** **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:89]** **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:167]** 
- Standard Lithium's brine leasehold interest within the Reynolds brine unit has **increased by approximately 8%**, resulting in the company controlling **~87% of the brine leasehold rights** following a like-kind brine lease exchange agreement finalized on **April 21, 2025**.  **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:34]** 
- The project's economics are **most sensitive to fluctuations in lithium price and LCE production**, and less sensitive to initial capital cost and operating costs.  **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:25]** **[1537137_0001104659-25-099044_tm2528539d1_ex99-1.htm:158]**

Standard Lithium Ltd. Releases Definitive Feasibility Study for South West Arkansas Project

- **Smackover Lithium**, a joint venture between **Standard Lithium** and Equinor, has filed the Definitive Feasibility Study (DFS) for its South West Arkansas (SWA) project.  **[1537137_6b41c25d5bde4939a6a65b9827ca06e6_0]** 
- The DFS projects a production capacity of **22,500 tonnes per annum** of battery-quality lithium carbonate over a **20-year** operating life, with an unlevered pre-tax internal rate of return (IRR) of **20.2%**.  **[1537137_6b41c25d5bde4939a6a65b9827ca06e6_0]** 
- The project's estimated all-in Class III capital expenditure is **$1.45 billion**, with average cash operating costs of **$4,516/t** and all-in costs of **$5,924/t** over the operating life.  **[1537137_6b41c25d5bde4939a6a65b9827ca06e6_0]** 
- Construction is expected to commence in **2026**, targeting first production in **2028**, and is set to be the first commercial Direct Lithium Extraction (DLE) operation in the United States.  **[1537137_6b41c25d5bde4939a6a65b9827ca06e6_0]**

Standard Lithium's Smackover Lithium Files Definitive Feasibility Study for South West Arkansas Project

- Standard Lithium Ltd. (SLI) announced the results of its Definitive Feasibility Study (DFS) for the Smackover Lithium (SWA) Project, projecting an annual production capacity of **22,500 tonnes of battery-quality lithium carbonate** over a **20-year operating life**.  **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:1]**  The project has an estimated **After-Tax Net Present Value (NPV) of $1,275 million** and an **After-Tax Internal Rate of Return (IRR) of 18.2%**.  **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:1]** 
- The SWA Project's total Capital Expenditures (CAPEX) are estimated at **$1,449 million**, with average annual cash operating costs of **$4,516/t** and average annual all-in operating costs of **$5,924/t**.  **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:1]** **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:4]** 
- The company targets a Final Investment Decision (FID) around **year-end 2025**, with construction planned to begin in **2026** and first commercial operations in **2028**.  **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:2]** 
- The SWA Project's total in-situ Measured and Indicated Resource is estimated at **1,177,000 tonnes LCE**, with Proven and Probable Reserves for the Reynolds Brine Unit estimated at **709,000 tonnes of LCE**.  **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:5]** **[1537137_0001104659-25-098781_tm2528442d1_ex99-2.htm:6]** 
- Standard Lithium also established an At-The-Market (ATM) Program to issue and sell up to **US$50,000,000** in shares, with proceeds intended to fund the South West Arkansas Project, exploration, and general corporate purposes.  **[1537137_0001104659-25-098781_tm2528442d1_ex99-1.htm:1]**

Standard Lithium Ltd. Announces Definitive Feasibility Study Results for SWA Project and At-The-Market Program

- Smackover Lithium, a joint venture between Standard Lithium and Equinor, announced a **maiden inferred resource** for its Franklin Project in East Texas on **September 24, 2025**.  **[1537137_0001171843-25-006050_exh_991.htm:0]** **[1537137_0001171843-25-006050_exh_991.htm:2]** 
- The Franklin Project's maiden inferred resource includes **2.2 million metric tonnes of Lithium Carbonate Equivalent (LCE)** at an average lithium grade of **668 mg/L**.  **[1537137_0001171843-25-006050_exh_991.htm:0]** 
- Additionally, the inferred resource contains **15.4 million tonnes of potash** and **2.6 million tonnes of bromide**.  **[1537137_0001171843-25-006050_exh_991.htm:0]** 
- This resource is a key step towards achieving a goal of **over 100,000 tonnes of lithium chemicals per year** production in Texas through multiple phases.  **[1537137_0001171843-25-006050_exh_991.htm:0]** 
- Standard Lithium holds a **55% interest** in the Smackover Lithium joint venture, with Equinor holding the remaining **45%**.  **[1537137_0001171843-25-006050_exh_991.htm:6]**

Standard Lithium's Smackover Lithium JV Announces Maiden Inferred Resource for Franklin Project

- Aquatech has acquired Koch Technology Solutions' (KTS) direct lithium extraction (DLE) business, integrating the Li-Pro™ Lithium Selective Sorption (LSS) technology into its PEARL™ process platform.  **[1537137_20250916NE75374:0]** 
- As a result of this acquisition, **Aquatech will assume KTS's role** in the Joint Development Agreement (JDA) with **Standard Lithium Ltd.** in the Smackover Formation.  **[1537137_20250916NE75374:0]** 
- The Li-Pro technology, now part of Aquatech's platform, has demonstrated an average lithium recovery of over **95%** at Standard Lithium's demonstration plant.  **[1537137_20250916NE75374:0]** 
- The acquisition also includes the licensing agreement for the **Smackover Lithium joint venture** (between Standard Lithium and Equinor) for the **South West Arkansas project**, which targets **22,500 tons per annum** of lithium carbonate equivalent with first production in **2028**.  **[1537137_20250916NE75374:0]**

STANDARD LITHIUM (SLI)