Standard Lithium Reports First Quarter 2026 Results

• Q1 2026 Financials: Reported cash of $141.0 million USD and working capital of $139.5 million USD as of March 31, 2026. No term or revolving debt obligations exist.
• Offtake Agreement: Confirmed signing of the first binding commercial offtake agreement with Trafigura Trading LLC for 8,000 metric tonnes per year of battery-quality lithium carbonate over a 10-year period starting at commercial production. This covers over 40% of targeted commitments for the SWA Project.
• Operational Milestones: The Arkansas Demonstration Plant processed 1 million barrels of real brine from the Smackover Formation and completed over 15,000 Direct Lithium Extraction (DLE) cycles. Safety record stands at approximately 340,000 man-hours with zero incidents.
• Project Timeline: Target for Final Investment Decision (FID) and commencement of construction remains 2026. However, the target for first commercial production has been updated to 2029 (previously anticipated in 2028 per Q4 2025 results).
• Strategic Advisors: Engaged The Walsh Group, LLC and Global Mineral Strategies to strengthen interactions with federal stakeholders and policymakers.

• Offtake Confirmation: The Trafigura deal was previously announced in March 2026 (NewsId 22443) and April 2026 (NewsId 77945). Reiteration of this binding agreement confirms the project's revenue visibility but adds no new market-moving information.
• Production Timeline Revision: The shift from a 2028 to a 2029 production target represents a one-year delay in cash flow generation for the flagship SWA Project. While management maintains the FID target of 2026, this extension suggests potential construction or permitting headwinds not previously priced as aggressively.
• Cash Position: Cash decreased from $152.3 million (Dec 31, 2025) to $141.0 million (March 31, 2026), a burn of approximately $11.3 million in Q1. This is offset by the $11.0 million raised via ATM issuance in Q1 (NewsId 427597). The liquidity remains sufficient to fund operations through FID and construction initiation without immediate equity dilution risk.
• Safety & Tech Validation: The 340,000 man-hours safety record and 15,000 DLE cycles validate the technology scalability but were largely anticipated following the April 2026 operational update (NewsId 927813).
• Overall Impact: The news is primarily confirmatory. The production date delay is a negative revision, but the strong cash balance and maintained FID timeline mitigate immediate solvency concerns. As the core catalysts (Offtake, DFS, Financing) were already rated Material Positive in prior months, this update is incremental.

• Company: Standard Lithium Ltd. (NYSE: SLI | TSX.V: SLI).
• Flagship Project: South West Arkansas (SWA) Project, a Joint Venture with Equinor (55% Standard Lithium / 45% Equinor).
• Technology: Direct Lithium Extraction (DLE) using Koch Technology Solutions' LSS process.
• Production Capacity: Initial capacity of 22,500 tonnes per annum of battery-grade lithium carbonate.
• Reserves: Proven reserves of 447,000 tonnes LCE (38% of Measured & Indicated Resources).
• Timeline: FID targeted for 2026; First commercial production now targeted for 2029.