Standard Lithium Ltd. and Equinor, through their joint venture Smackover Lithium, have received unanimous approval from the Arkansas Oil and Gas Commission $(AOGC)$ for their Integration Application for the Reynolds Brine Unit in the South West Arkansas Project (SWA Project). This final regulatory approval follows earlier AOGC endorsements for unitization of the 20,854-acre Reynolds brine production area and the establishment of a 2.5% lithium royalty, the first of its kind for lithium from brine in Arkansas. The approvals represent key milestones, de-risking the project and allowing the joint venture to advance towards a final investment decision, with initial production of battery-quality lithium carbonate expected in 2028.