U.S. Department of Energy Selects Standard Lithium and Equinor for Award Negotiations of Up to $225 Million for Southwest Arkansas Project Page 1

LEWISVILLE, Arkansas, September 20, 2024 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium”) (TSXV:SLI) (NYSE:A:SLI), a leading near-commercial lithium development and technology company, and Equinor, a global energy leader, today announced that their jointly owned U.S. subsidiary, SWA Lithium LLC, has been selected for negotiations for a grant of up to $225 million from the U.S. Department of Energy (“DOE”). This selection, overseen by the DOE’s Office of Manufacturing and Energy Supply Chains (MESC), is one of the largest ever awarded to a U.S. critical minerals project and is part of the second wave of funding under the Infrastructure Investment and Jobs Act, aimed at expanding domestic production of all segments of the battery supply chain and increasing U.S. production of critical minerals. The preliminary grant is contingent upon completion of successful final negotiations with the DOE.