An anonymous director reports

STANDARD LITHIUM ESTABLISHES AT-THE-MARKET EQUITY OFFERING PROGRAM UNDER BASE SHELF PROSPECTUS

Standard Lithium Ltd. has established an at-the-market equity program (the ATM program) under its base shelf prospectus dated July 30, 2025, that allows the company to issue and sell, from time to time through agents, up to $50-million (U.S.) (or the Canadian-dollar equivalent) of its common shares from treasury to the public, at the company's discretion.

The company previously registered the offer and sale of up to $50-million (U.S.) of its common shares under a prior prospectus supplement dated Aug. 8, 2025, to the company's base prospectus (as defined below) filed in Canada, and in the United States, under a prior prospectus supplement dated Aug. 8, 2025, to the company's registration statement (as defined below), in accordance with the terms of an at-the-market sales agreement dated Aug. 8, 2025, among the company and Canaccord Genuity and Evercore ISI. As of Aug. 7, 2026, the company has offered and sold 8,978,213 current offered shares for aggregate offering proceeds of $36,012,156 (U.S.), resulting in $13,987,844 (U.S.) of current offered shares available for issuance under the current ATM program. The company intends to continue to utilize the current ATM program until the earlier of (i) all shares subject to the current prospectus supplement having been sold in accordance with the terms thereof, and (ii) the termination of the 2025 sales agreement in accordance with its terms, following which the company will offer and sell the offered shares pursuant to this offering.

Sales of offered shares, if any, under the ATM program are anticipated to be made in transactions that are deemed to be at-the-market distributions as defined in National Instrument 44-102 -- Shelf Distributions and an at-the-market offering within the meaning of the U.S. Securities Act of 1933, as amended, including sales made directly on the TSX Venture Exchange, the NYSE American LLC, or any other trading market for the offered shares in Canada or the United States, at the prevailing market price at the time of sale. The volume and timing of sales under the ATM program, if any, will be determined in the company's sole discretion, and at the market price prevailing at the time of each sale, and, as a result, sale prices may vary. Distributions of the offered shares through the ATM program, if any, will be made pursuant to the terms of an at-the-market sales agreement among the company and the agents. The ATM program will be effective until the issuance and sale of all of the offered shares issuable pursuant to the ATM program, unless terminated prior to such date in accordance with the terms of the sales agreement.

The company expects to use the net proceeds of the offering to finance continuing work programs to advance the South West Arkansas project toward a final investment decision (FID) and construction, for exploration, leasehold acquisition and development activities in East Texas, including specifically at the Franklin project, for working capital and for general corporate purposes.

Listing of the offered shares sold pursuant to the ATM program on the TSX-V and/or the NYSE American will be subject to fulfilling all applicable listing requirements.

The sale of offered shares through the ATM program is being made pursuant to a prospectus supplement dated Aug. 10, 2026, to the company's short form base shelf prospectus dated July 30, 2025, filed with the securities commissions in each of the provinces and territories of Canada, and in the United States pursuant to a prospectus supplement dated Aug. 10, 2026, to the company's short form base shelf prospectus contained in the company's effective registration statement on Form F-10 (file No. 333-289110) filed with the U.S. Securities and Exchange Commission under the U.S./Canada Multijurisdictional Disclosure System. The prospectus supplement, the base prospectus, the U.S. prospectus supplement and the registration statement contain important detailed information about the company and the ATM program. Prospective investors should read the prospectus supplement, the base prospectus, the registration statement, the U.S. prospectus supplement and the other documents the company has filed for more complete information about the company and the ATM program before making an investment decision. Copies of the prospectus supplement and the base prospectus are available on SEDAR+ and copies of the U.S. prospectus supplement and the registration statement are available on EDGAR. Alternatively, the company will send copies of such documents upon request made to the company contact provided below, and the agents will send copies of such documents to investors upon request by contacting Canaccord Genuity at One Post office Square, 30th floor, Boston, Mass., 02109, attention: ECM, general counsel, or Evercore ISI at 55 East 52nd St., 35th floor, New York, N.Y., 10055, by telephone at 888-474-0200 or by e-mail at ecm.prospectus@evercore.com.

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 direct lithium extraction and purification process. The company's flagship projects are in the Smackover formation, an attractive lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor ASA, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively advancing a promising lithium brine resource position in East Texas, including the highest known lithium brine grade project in North America, the Franklin project.

Standard Lithium trades on both the TSX-V and the NYSE American under the symbol SLI.

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