Standard Lithium Ltd. announced the closing of a landmark strategic partnership (the ?Transaction?) with Equinor ASA, to accelerate the development of Standard Lithium?s large-scale, sustainable lithium projects in the Smackover Formation. The Transaction includes Equinor's contribution of up to USD 160 million, representing its total gross project-level investment and reflecting its 45% ownership stake in the two entities. This investment includes a USD 30 million cash payment to Standard Lithium at closing, a work program solely funded by Equinor of USD 60 million, representing a USD 33 million carry by Equinor for Standard Lithium?s portion, and USD 27 million for Equinor?s portion, at the South West Arkansas Project (SWA) and East Texas (ETX) properties (ETX and together with SWA, the ?Projects?), and up to USD 70 million in payments to Standard Lithium subject to both parties taking positive Final Investment Decisions.

Standard Lithium and Equinor will each own 55% and 45% of the Projects respectively, with Standard Lithium retaining operatorship.