Standard Lithium reports fiscal first quarter 2025 results | 12.11.24

VANCOUVER, British Columbia, November 12, 2024 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading near-commercial lithium company, today announced its fiscal first quarter 2025 financial and operating results that ended September 30, 2024.

“Our fiscal first quarter highlights demonstrate our commitment to doing what we say we’re going to do,” said David Park, Chief Executive Officer and Director of Standard Lithium. “We told you we would pursue government subsidies, and we did. conditionally approved for $225 million – one of the largest grants for a domestic critical minerals project – from the U.S. Department of Energy. The conditional grant is a testament to the world-class caliber of the South West Arkansas project and the good work the team has done to reduce risk and now advance the project to a FEED phase.”

“Now is the time for us to prioritize, focus and execute. Our focus is on bringing production online for our shareholders, and the next right step for us is to move forward with customer offtake commitments and financing. We can then continue to bring production online for our shareholders. working with Equinor to advance the project in South West Arkansas and gain a foothold in East Texas.”

Highlights of the first quarter of 2025 budget year

All amounts are in US dollars.

• Received a $225 million conditional grant from the U.S. Department of Energy (“DOE”) for the South West Arkansas Project (“SWA”). The grant is expected to support construction of the Central Processing Facility for Phase 1 of the SWA Project in the Smackover Formation. It is currently under consideration to produce 22,500 tonnes of battery-grade lithium carbonate annually in Phase 1, starting in 2028. The grant is one of the largest ever awarded to a US critical minerals project.
• Appointed David Park as Chief Executive Officer and director of the company. Mr. Park assumed the role of Chief Executive Officer (“CEO”) on September 1, 2024, following the retirement of CEO, Director and Founder Robert Mintak. Mr. Park joined the company in July 2023 as a strategic advisor to Mr. Mintak. upon request and worked closely with him, playing a pivotal role in securing the strategic partnership with Equinor. Previously, Mr. Park spent 28 years in various leadership roles at Koch Industries and brings significant experience in the energy and industrial sectors. Mintak has been brought in as an advisor to the company and will continue to ensure the transfer of institutional knowledge to the management team.
• Change in reporting and presentation currency from CAD to USD. Effective July 1, 2024, the company began using USD instead of CAD in its financial reporting and external marketing materials. The company made this change because its major assets and liabilities are denominated in USD and for consistency with peer companies in the lithium industry.
• Cash and working capital of $28.9 million and $24.7 million, respectively, as of September 30, 2024.
• The Company has no term or revolving debt obligations as of September 30, 2024.

Events after fiscal first quarter 2025

• Entered into a license agreement (“Agreement”) with Koch Technology Solutions (“KTS”) to implement and use KTS’ Li-Pro™ Lithium Selective Sorption (“Li-pro LSS”) technology. Under the license agreement, SWA Lithium, the joint US subsidiary of Standard Lithium and Equinor, will use Li-pro LSS in the commercial processing facility for Phase 1 of the SWA project. The agreement includes a unique performance guarantee from KTS for lithium recovery, contaminant rejection and water use. Additionally, it allows for continued, exclusive co-development of technology in the Smackover Formation.
• Commercial-scale direct lithium extraction (“DLE”) at the demonstration plant continues to exceed expectations. The company installed a commercial-scale DLE column in late March 2024 and has operated the column continuously. The column is a Li-pro LSS unit, supplied by KTS and identical to the units currently being integrated into the front-end engineering and design (FEED) study for the SWA project. Key technical highlights of the commercial-scale DLE column include: 95.4% lithium recovery efficiency and excellent contaminant rejection rates. To date, nearly 10,000 operational cycles have been completed by Li-pro LSS technology.

Consolidated financial statements

This press release should be read in conjunction with the Company’s consolidated financial statements and MD&A for the quarter ended September 30, 2024, which are available on the Company’s Issuer Profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec .gov .

RESULTS OF THE FISCAL Q1 2025 CONFERENCE CALL AND WEBCAST

The company will hold a conference call and webcast on Thursday, November 21 to discuss its fiscal first quarter 2025 results.^st at 5:00 PM ET. The conversation can be accessed via webcast or direct calling.

Details of conference calls and webcasts
Standard Lithium first quarter 2025 earnings call and webcast
November 21, 2024 5:00 PM Eastern Time (US & Canada)

Participant information:
US/International Toll +1 (646) 307-1963
USA – Toll Free (800) 715-9871
Canada-Toronto (647) 932-3411
Canada – Toll Free (800) 715-9871

Webcast link for participants:
https://events.q4inc.com/attendee/565402822

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-quality lithium brine properties in the United States. The company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labor and streamlined permitting. Standard Lithium is committed to sustainable commercial-scale lithium production through the application of a scalable and fully integrated Direct Lithium Extraction (“DLE”) and purification process. The company’s flagship projects are in the Smackover Formation, a world-class lithium brine. asset, focused on Arkansas and Texas. In partnership with global energy leader Equinor ASA, Standard Lithium is advancing the South West Arkansas project, a greenfield project in southern Arkansas, and is actively exploring the promising prospects for lithium brine in East Texas is advancing the Phase 1A project in partnership with LANXESS Corporation, a brownfield development project in southern Arkansas. Standard Lithium also has an interest in certain mineral leases in the Mojave Desert in San Bernardino County, California.

Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol ‘SLI’; and on the Frankfurt Stock Exchange under the symbol ‘S5L’. Visit the company’s website at www.standardlithium.com.

Qualified person

Steve Ross, P.Geol., a Qualified Person as defined by National Instrument 43-101, and Vice President of Resource Development for the Company, has reviewed and approved the relevant scientific and technical information contained in this press release.

Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this press release the words “anticipate,” “believe,” “estimate,” “expect,” “target,” “plan,” “predict,” “may,” “plan” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to planned development timelines, future commodity prices, accuracy of mineral or resource exploration activities, reserves or resources, regulatory or government agency requirements or approvals, the reliability of third party information, continued access to mineral properties. or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulations in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based on a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, unforeseen events and risks. uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. The Company does not intend, and assumes no obligation, to update these forward-looking statements or information to reflect any change in assumptions or changes in circumstances or other events affecting such statements and information, other than as may be required by applicable laws, rules and regulations.