-- Announced and Filed Positive Preliminary Economic Assessment ("PEA") for 
      the High-Grade 70,000 Tonnes Per Year Franklin Project 
 
   -- Completed South West Arkansas Project ("SWA Project") Customer Offtake 
      Process through Binding Agreements with LG Energy Solution and Trafigura 
 
   -- Advanced SWA Project Financing Process, the Key Remaining Workstream 
      Prior to a Final Investment Decision ("FID") 
 
   -- Expect to Take FID by Q1 2027 Followed Promptly by Construction 

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSXV: SLI) (NYSE.A: SLI), a leading near-commercial lithium company, today announced its financial and operating results for the three- and nine-month periods ended September 30, 2026.

"We had a busy and productive third quarter as we continue to advance important milestones and complete key workstreams for the Company," said David Park, Chief Executive Officer and Director of Standard Lithium. "We secured long-term commercial agreements with one of the world's leading battery producers in LG Energy Solution as well as one of the largest global commodity traders in Trafigura. Our expanding partnerships are a testament to the high quality of the SWA Project and the importance of our role in developing a scalable and competitive domestic lithium supply chain. We also released a Preliminary Economic Assessment for the Franklin Project highlighting the strength of one of the biggest and highest-quality lithium brine resources in North America and our pathway to building a substantial portfolio of lithium projects."

"With our customer offtake process now complete, we have moved to finalizing and closing the SWA Project financing as quickly as possible before taking FID and moving into construction."

Highlights Subsequent to the Three-Month Period Ended September 30, 2026

All amounts are in US dollars unless otherwise indicated. All terms not otherwise defined have the meaning given to them under the CIM Definition Standards for mineral resources and mineral reserves.

   -- Files Positive PEA for Up to 70,000 Tonnes Per Year Battery-Quality 
      Lithium Carbonate Franklin ProjectThe PEA for the Franklin Project, the 
      first defined project area of Smackover Lithium, the Company's 
      partnership with Equinor, in the East Texas region of the Smackover 
      Formation, highlights the globally significant size and high quality of 
      its brine position. It marks a key step towards Smackover Lithium's goal 
      of reaching over 100,000 tonnes of lithium chemical production per year 
      in Texas through multiple phases and projects. The principal 
      recommendation of the PEA is to advance the Franklin Project to a 
      Preliminary Feasibility Study. 
 
   -- Appoints Ralph Alexander to the Board of DirectorsOn October 13, 2026, 
      the Company announced the appointment of Ralph Alexander as an 
      independent member of the Board of Directors, effective immediately. Mr. 
      Alexander brings more than four decades of leadership across the global 
      energy, chemicals, power and infrastructure sectors. His extensive 
      operating, investment and public company governance experience will add 
      valuable perspective as Standard Lithium advances its portfolio of 
      large-scale projects. 

Highlights From Three-Month Period Ended September 30, 2026

   -- Exceeds Targeted Customer Offtake Volumes for SWA ProjectAmended binding 
      commercial offtake agreement with Trafigura, a market leader in the 
      global commodities industry. The amendment provided the additional 
      offtake volumes to complete the SWA Project's customer offtake process 
      and move to finalizing the ongoing debt financing process. The initial 
      target was to secure customer offtake agreements for roughly 80% (18,000 
      tonnes) of the 22,500 tonnes of annual nameplate battery-quality lithium 
      carbonate capacity in its initial phase. Together with the agreement with 
      LG Energy Solution, total commitments have reached up to 20,000 tonnes 
      per year for 10 years. 
 
   -- Signs Binding Customer Offtake with LG Energy Solution ("LGES") for the 
      SWA ProjectSigned a second binding commercial offtake agreement with LGES, 
      a leading global manufacturer of lithium-ion batteries. The SWA Project 
      will supply LGES with 8,000 tonnes per year of battery-quality lithium 
      carbonate over a 10-year period following the start of commercial 
      production. Pricing and other key commercial terms are subject to 
      confidentiality but have been structured to support the SWA Project 
      financing. 
 
   -- Announces Positive PEA for the Franklin Project, its First Lithium 
      Project in East TexasThe PEA, which contemplates annual production 
      capacity of up to 70,000 tonnes of battery-quality lithium carbonate, is 
      highlighted by attractive economics including an unlevered pre-tax net 
      present value of $5.9 billion, an internal rate of return of 25.7% and a 
      three-year payback period, along with average annual lithium cash 
      operating cost of $4,226/t and a capital intensity of $49,945/t. 
      Additionally, it includes an upgraded and upsized Mineral Resource with 
      some of the highest lithium-in-brine concentrations reported in North 
      America. The PEA also considers a scenario based on a co-located bromine 
      facility of 50,000 tonnes per year alongside the lithium operation. 
      Standard Lithium and Equinor anticipate further evaluating potential 
      commercial opportunities for both bromine and potash given the 
      significant scale and quality of the resources, as well as the 
      designation of potash as a U.S. critical mineral in 2025. 
 
   -- Demonstrates Successful Use of South West Arkansas Lithium Carbonate in 
      North American LFP Battery CellsLithium carbonate produced from the SWA 
      Project pilot plant was successfully used by Nano One(R) to manufacture 
      lithium iron phosphate cathode active material and battery cells in North 
      America. The testing provides further validation of SWA Project's process 
      flowsheet and the suitability of its battery-quality lithium carbonate in 
      downstream applications and advances the Company's commitment to 
      technological innovation and support for the development of a domestic, 
      fully integrated energy storage supply chain. 
   -- Cash and working capital of $118.1 million and $114.4 million, 
      respectively, as of September 30, 2026. 
 
   -- The Company has no term or revolving debt obligations as of September 30, 
      2026. 

SWA Project Final Investment Decision

Significant progress has been made year-to-date, with three of the four primary deliverables required prior to taking FID at the SWA Project completed: executing the engineering, procurement, construction and commissioning (EPCC) and the engineering, procurement and construction management (EPCM) construction vendor contracts, receiving National Environmental Policy Act (NEPA) approval from federal regulators, and concluding the customer offtake process.

The EPC and EPCM have been operating under a Limited Notice to Proceed for the last six months, focusing on key activities to de-risk the SWA Project and optimize the construction schedule. This includes detailed engineering, identifying long-lead time items with vendors, completing relevant construction permitting, team building and community engagement. They are expected to transition to a Full Notice to Proceed promptly following a positive FID.

Smackover Lithium continues to advance the project financing workstream as the key remaining milestone for achieving FID. The Company has been working closely with the Export Credit Agencies ("ECAs"), including the Export-Import Bank of the United States (EXIM), Export Development Canada (EDC) and Export Finance Norway (Eksfin), each of which remains highly interested in supporting the SWA Project. While the ECA financing process has taken longer than initially anticipated, the comprehensive due diligence review is substantially complete without any material concerns.

Smackover Lithium is now targeting over $1.2 billion in total senior secured project debt, exceeding its initial expectations of up to $1.1 billion. The Company is actively working to finalize all reserve facility funding requirements, which will inform the final SWA Project sources and uses and enable the completion of binding legal agreements and the credit approval processes by the ECAs as quickly as possible. Based on the current financing timeline, Smackover Lithium now expects to take FID by the end of the first quarter of 2027, with construction beginning shortly thereafter.

Three-Month Period Ended September 30, 2026 Webcast

The Company will hold a webcast to discuss its three-month period ended September 30, 2026 on Monday, November 16(th) at 4:30 p.m. ET. Live access as well as a replay will be available via webcast.

Webcast Details

Standard Lithium Q3 2026 Earnings Call and Webcast

November 16, 2026 4:30 p.m. Eastern Time (USA and Canada)

Attendee Webcast Link: https://events.q4inc.com/attendee/170915932

Consolidated Financial Statements

This news release should be read in conjunction with the Company's Consolidated Financial Statements and MD&A for the three- and nine-month periods ended September 30, 2026, which are available on the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

Qualified Person

All scientific and technical disclosure in this release was reviewed and approved by Mr. Stephen Ross, P.Geo., British Columbia, Vice President of Resource Development for Standard Lithium and a Qualified Person for purposes of, and as that term is defined in, National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Ross is not independent of the Company.