Standard Lithium Ltd. (NYSEAMERICAN:SLI) is one of the Best Mining Stocks to Buy According to Hedge Funds. On September 4, Raymond James lifted the price objective on the company’s stock to $4.00 from $2.75, while maintaining an “Outperform” rating. The firm believes that the increasing maturation of Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s projects as well as model adjustments are the key factors responsible for the increased valuation. Notably, the firm sees the company as a leader in Direct Lithium Ex ...

Core Viewpoint - The Definitive Feasibility Study (DFS) for the Smackover Lithium project indicates robust economic potential, with a projected unlevered pre-tax Internal Rate of Return (IRR) of 20.2% and a Net Present Value (NPV) of $1.7 billion, confirming the project's status as a world-class asset for lithium production in the United States [4][6][9]. Project Overview - Smackover Lithium is a joint venture between Standard Lithium (55% ownership) and Equinor (45%), focused on developing a lithium extraction facility in southwestern Arkansas, covering approximately 30,000 acres of brine leases [5][64]. - The project aims to produce 22,500 tonnes per annum (tpa) of battery-quality lithium carbonate, marking the first commercial lithium production in the Smackover Formation, with initial production targeted for 2028 [6][17]. Economic Highlights - The DFS estimates an unlevered pre-tax NPV of $1.7 billion and an IRR of 20.2%, based on a lithium carbonate price of $22,400 per tonne [6][9]. - Average cash operating costs are projected at $4,516 per tonne, with all-in costs estimated at $5,924 per tonne [31][33]. - Total capital expenditures (CAPEX) are estimated at $1.45 billion, including a 12.3% contingency [6][27]. Resource Assessment - The total Measured and Indicated Resource is estimated at 1,177,000 tonnes lithium carbonate equivalent (LCE) at an average concentration of 442 mg/L, with Proven Reserves of 447,000 tonnes LCE at an average concentration of 481 mg/L [39][44][50]. - The project has a minimum operating life of 20 years, with potential for significant expansion based on resource modeling [6][8]. Development Timeline - The project is targeting a Final Investment Decision (FID) by the end of 2025, with construction expected to commence in 2026 and first production in 2028 [17][61]. Environmental and Regulatory Considerations - The project has received a $225 million grant from the U.S. Department of Energy, necessitating compliance with the National Environmental Policy Act (NEPA), with an environmental assessment already initiated [57][59]. - The project has strong support from local communities and government entities, enhancing its prospects for timely permitting and development [59].

Company Overview - Standard Lithium Ltd. is a leading near-commercial lithium development company focused on sustainable development of high-grade lithium-brine properties in the United States [3] - The company aims for sustainable, commercial-scale lithium production using a scalable and fully integrated Direct Lithium Extraction and purification process [3] - Key projects are located in the Smackover Formation in Arkansas and Texas, with a partnership with Equinor ASA on the South West Arkansas project [3] Leadership Appointment - Michael Lutgring has been appointed as General Counsel effective August 18, 2025 [1] - Lutgring brings over two decades of legal and strategic advisory experience, previously serving as Vice President and Deputy General Counsel at Albemarle Corporation [2] - His experience includes leading legal support for global supply chain operations and playing a pivotal role in significant corporate initiatives, including a $6.2 billion acquisition and a $3.2 billion divestiture [2]

Financial Data and Key Metrics Changes - For the second quarter ended June 30, 2025, the company reported a net loss of approximately $4 million compared to a net gain of $128.3 million during the same quarter in 2024, primarily due to a one-time gain from the sale of a 45% interest in two project areas in 2024 [11][12] - General and administrative expenses decreased by $4.5 million, reflecting cost-sharing with joint ventures and strong corporate cost management [12] - The company ended the quarter with strong cash and working capital positions of $33.8 million and £30.6 million respectively [13][14] Business Line Data and Key Metrics Changes - The company completed all planned fieldwork for the first phase of the Southwest Arkansas project, achieving a lithium concentration of 660 mg/L from the Leicester well, the highest recorded to date [9] - Phase one of the Southwest Arkansas project plans for 22,500 tonnes per year of battery-quality lithium carbonate, with first production expected in 2028 [10] Market Data and Key Metrics Changes - The Southwest Arkansas project was selected as one of the first critical mineral production projects under Executive Order 14,241, which aims to increase American mineral production [5] - The company received a $225 million grant from the DOE's Office of Manufacturing and Energy Supply Chains, reinforcing its project development timeline [6] Company Strategy and Development Direction - The company is focused on advancing lithium development projects in partnership with Equinor, with a final investment decision targeted by the end of 2025 [4][16] - The company is also exploring next-generation battery materials, having developed a new process for producing battery-quality lithium sulfide [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the critical milestones achieved in the second quarter and the support from local and federal governments for securing critical minerals production in the U.S. [16] - The company believes it is well-positioned to deliver significant value to shareholders and communities as it progresses towards a final investment decision [16] Other Important Information - The company strengthened its senior management team with two new VP hires, enhancing its capabilities and execution of growth strategy [7] Q&A Session Summary Question: Regarding DOE funding opportunities - Management indicated ongoing support from the DOE and the White House for direct lithium extraction projects, but it is premature to comment on specific funding avenues [19][20] Question: Details on remaining milestone payments - The milestone payments from Equinor are $40 million for Southwest Arkansas and $30 million for East Texas, which will be used to fund the company's share of the projects [21][23] Question: Future expenditures related to Southwest Arkansas - Management expects to be fully funded for commitments prior to FID at Southwest Arkansas through existing cash, Equinor funding, and prudent use of the ATM program [24] Question: Offtake agreements and pricing discussions - The company is in discussions with multiple parties regarding offtake agreements, focusing on both structure and pricing mechanisms, with confidence in concluding discussions by Q4 [43][44] Question: Updates on geological modeling and resource mapping - Management stated that drilling work has refined their understanding of the resource position, with a maiden resource report expected to provide further insights [46][49] Question: Debt financing discussions - Discussions with export credit agencies and commercial banks are progressing well, with confidence in achieving the previously indicated debt financing range [53][54]

Core Viewpoint - Standard Lithium Ltd. has made significant progress in its lithium development projects, particularly the South West Arkansas (SWA) Project, and is on track for a Final Investment Decision by the end of 2025 [2][7]. Financial and Operational Highlights - As of June 30, 2025, the company reported cash and working capital of $33.8 million and $30.6 million, respectively, with no term or revolving debt obligations [13]. - The Arkansas Oil and Gas Commission approved a 2.5% royalty rate for Phase I of the SWA Project, marking a precedent for lithium development in Arkansas [4]. - The SWA Project achieved the highest lithium concentration reported to date from the area, with a sample showing 616 mg/L lithium in brine [3]. Project Development Milestones - The company completed all fieldwork for the first phase of the SWA Project and is advancing discussions on off-take and project financing [2]. - A Definitive Feasibility Study for the SWA Project and a Maiden Inferred Resource Report for East Texas properties are expected to be released in the third quarter of 2025 [3]. - The SWA Project received special designation as a critical mineral production project under Executive Order 14241, emphasizing its importance to U.S. mineral production [5]. Management and Strategic Developments - The company strengthened its senior management team with new appointments, including Daniel Rosen as Vice President of Strategy and Investor Relations and Tim Sobel as Vice President of Health, Safety, Social and Environment [8]. - Standard Lithium is advancing next-generation solid-state battery materials in partnership with Telescope Innovations Corp., utilizing a new conversion process for lithium hydroxide [6].

Exhibit 99.1 Condensed Consolidated Interim Statements of Comprehensive (Loss) Income For the three and six months ended June 30, 2025 and 2024 (Expressed in thousands of US dollars, except share and per share amounts - unaudited) Condensed Consolidated Interim Financial Statements (Expressed in US dollars - unaudited) Three and six months ended June 30, 2025 and 2024 STANDARD LITHIUM LTD. Condensed Consolidated Interim Statements of Financial Position As at June 30, 2025 and December 31, 2024 (Expressed in ...

Core Insights - Smackover Lithium, a joint venture between Standard Lithium and Equinor, has reported the highest lithium concentration to date from its South West Arkansas Project, with a measurement of 616 mg/L lithium in brine [1][4]. Company Developments - The Lester well, completed in Q2 2025, marks the conclusion of all sub-surface exploration activities for Phase 1 of the SWA Project [2]. - The average lithium concentration from three brine samples taken from the Lester well was 582 mg/L, indicating significantly higher than expected lithium concentrations [3][7]. - Dr. Andy Robinson, President and COO of Standard Lithium, expressed optimism regarding the results, which exceeded initial expectations of approximately 500 mg/L [4]. Future Plans - With fieldwork completed, the Smackover Lithium team is focused on finalizing the Front-End Engineering Design (FEED) study, with a Definitive Feasibility Study anticipated later in Q3 2025 [5]. - The completion of these studies is seen as a significant milestone, paving the way for off-take negotiations and project financing, with a Final Investment Decision targeted by the end of 2025 [5]. Joint Venture Overview - Smackover Lithium is a joint venture formed in May 2024, with Standard Lithium holding a 55% interest and Equinor holding 45% [11]. - The joint venture is developing two Direct Lithium Extraction (DLE) Project Companies in southwest Arkansas and east Texas [11]. Company Background - Standard Lithium is focused on sustainable development of high-grade lithium-brine properties in the U.S., particularly in the Smackover Formation [12][13]. - The company aims to achieve commercial-scale lithium production through a scalable Direct Lithium Extraction and purification process [13].

Core Viewpoint - Standard Lithium is currently not a lithium miner as it has not yet started extracting lithium, but it saw a 6% increase in stock price following a recommendation from Raymond James [1][3]. Group 1: Analyst Coverage - Raymond James initiated coverage of Standard Lithium with an outperform rating and set a 12-month price target of $2.75 [3][4]. - The analyst highlighted that Standard Lithium is a leader in Direct Lithium Extraction and is focused on advancing its lithium-brine projects in the U.S. [4]. Group 2: Stock Valuation and Market Performance - Despite the outperform rating, the price target of $2.75 represents less than 2% potential upside from the stock's trading price of $2.71 at the time of the recommendation [5][6]. - Following the recommendation, the stock price increased to $2.88, raising questions about the rationale behind the buy recommendation given the limited upside [5][6]. Group 3: Comparison with Competitors - Standard Lithium is currently unprofitable, while there are profitable lithium companies such as Albemarle, SQM, and Rio Tinto available for investment [6].

Core Insights - Standard Lithium Ltd. has appointed Daniel Rosen as Vice President of Strategy and Investor Relations and Tim Sobel as Vice President of Health, Safety, Social and Environment (HSSE) [1][2] Leadership Appointments - Daniel Rosen brings over 13 years of experience in corporate strategy, finance, and capital markets, having previously played a key role in the integration of Arcadium Lithium into Rio Tinto [2][3] - Tim Sobel has over three decades of experience in HSSE leadership, previously serving as Vice President of HSSE for the Americas at DP World, overseeing HSSE strategy across more than 40 operations [3] Company Overview - Standard Lithium is focused on the sustainable development of high-grade lithium-brine properties in the United States, aiming for commercial-scale lithium production through a scalable DLE and purification process [4] - The company's flagship projects are located in the Smackover Formation in Arkansas and Texas, with a partnership with Equinor on the South West Arkansas project [4]

Core Viewpoint - Standard Lithium has successfully developed a new low-temperature method for producing battery-quality lithium sulfide in collaboration with Telescope Innovations, which is essential for next-generation solid-state batteries [1][2][3]. Group 1: Company Developments - The new conversion process transforms lithium hydroxide from Standard Lithium's Arkansas Demonstration Plant into lithium sulfide, with samples sent to solid-state battery companies for testing [2]. - The partnership with Telescope Innovations is aimed at technological evolution, which is crucial for maintaining a competitive edge in the lithium industry [3]. - Standard Lithium is focused on building its first Direct Lithium Extraction (DLE) project in North America while also pursuing innovative technologies [3]. Group 2: Product Significance - Lithium sulfide is a critical raw material for many next-generation solid-state battery chemistries, yet it is produced in limited quantities and at high costs [3]. - The patented low-temperature process offers several advantages, including feedstock flexibility, impurity tolerance, lower processing temperatures, and enhanced safety in manufacturing [7]. Group 3: Company Overview - Standard Lithium is a near-commercial lithium development company with a focus on sustainable development of high-grade lithium-brine properties in the U.S., particularly in Arkansas and Texas [4]. - The company aims for commercial-scale lithium production through a scalable and integrated DLE and purification process [4].