Financial Data and Key Metrics Changes - For the fiscal second quarter, the company reported a net loss of $10.2 million, or $0.06 per share, and a net loss of $19.9 million, or $0.12 per share for the six months ended December 31, 2023 [31] - The company experienced negative free cash flow of approximately $23.6 million, primarily due to the completion of the East Texas drilling program and the definitive feasibility study on Phase 1A [66] Business Line Data and Key Metrics Changes - The company highlighted the successful completion of the definitive feasibility study for the Phase 1A project and the preliminary feasibility study for the South West Arkansas project, indicating high-quality resources available [69] - The East Texas expansion has uncovered the highest lithium brine values ever reported in North America, emphasizing the potential value of this strategy [50] Market Data and Key Metrics Changes - The lithium market has seen an 80% reduction in prices from their all-time highs in 2023, impacting the entire industry [60] - Despite the current pricing environment, the long-term prospects for lithium remain strong, with expectations of higher prices when the company begins production [104] Company Strategy and Development Direction - The company aims to build a significant lithium-producing business in North America, focusing on high-quality resources, proven extraction technology, and community support [55] - The strategic approach includes engaging with strong partners for financing and offtake agreements to advance projects in a non-dilutive manner [93] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the project's attractiveness due to favorable permitting, infrastructure, and stakeholder support, despite the challenging market conditions [88] - The company is actively pursuing federal grant packages to improve returns for shareholders, which could significantly enhance project funding [79] Other Important Information - The company has established an at-the-market offering program to provide liquidity for project advancement while minimizing dilution [67] - The relationship with Lanxess is crucial for leveraging operations and infrastructure to advance the direct lithium extraction process [115] Q&A Session All Questions and Answers Question: What is left to be done before breaking ground on construction for Phase 1A? - The company is continuing discussions with the Arkansas Oil and Gas Commission for further clarification and is confident that their proposal will be well received [83] Question: What are the most important points of negotiation with potential partners? - Key negotiations focus on securing strong partners with financial and technical capabilities, long-term offtake agreements, and alignment on project value [92][94] Question: When can the company expect to hear from the DOD and DOE on grant money requests? - The company is active in several programs with the DOE and is hopeful for positive outcomes, although there is uncertainty in the process [106] Question: Can you describe the upcoming event in Little Rock and its importance for Standard Lithium? - The event will feature key stakeholders and is expected to garner significant media attention, highlighting the company's efforts in building a lithium industry in Arkansas [133]

[Condensed Consolidated Interim Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) [Condensed Consolidated Interim Statements of Financial Position](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Financial%20Position) The company's financial position weakened as total assets and equity declined, driven by a significant decrease in cash Statement of Financial Position Highlights (in thousands of CAD) | Account | Dec 31, 2023 | June 30, 2023 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **$160,337** | **$173,497** | **-$13,160** | | Cash | $15,831 | $59,612 | -$43,781 | | Exploration and evaluation assets | $134,168 | $99,952 | +$34,216 | | **Total Liabilities** | **$11,948** | **$14,121** | **-$2,173** | | **Total Equity** | **$148,389** | **$159,376** | **-$10,987** | [Condensed Consolidated Interim Statements of Comprehensive Income (Loss)](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Comprehensive%20Income%20(Loss)) The company's net loss more than doubled year-over-year, primarily due to a substantial increase in share-based payments Comprehensive Income (Loss) Summary (in thousands of CAD, except per share amounts) | Metric | Six Months Ended Dec 31, 2023 | Six Months Ended Dec 31, 2022 | | :--- | :--- | :--- | | Share-based payments | $6,357 | $1,092 | | Demonstration plant operations | $5,202 | $5,975 | | Loss from operations | ($20,779) | ($9,941) | | **Net loss for the period** | **($19,931)** | **($8,439)** | | **Basic and diluted loss per share** | **($0.12)** | **($0.05)** | [Condensed Consolidated Interim Statements of Changes in Equity](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Changes%20in%20Equity) Total equity declined by $11 million, as the period's net loss outpaced capital raised from share issuances Equity Reconciliation for Six Months Ended Dec 31, 2023 (in thousands of CAD) | Description | Amount | | :--- | :--- | | **Balance, June 30, 2023** | **$159,376** | | Net loss for the period | ($19,931) | | Share-based payment | $6,357 | | Shares issues under ATM offering | $4,177 | | Share issuance costs | ($902) | | Stock options exercised | $140 | | Currency translation differences | ($828) | | **Balance, December 31, 2023** | **$148,389** | [Condensed Consolidated Interim Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Cash%20Flows) The company experienced a net cash decrease of $43.8 million, driven by operating and investing activities Cash Flow Summary (in thousands of CAD) | Activity | Six Months Ended Dec 31, 2023 | Six Months Ended Dec 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($14,151) | ($11,873) | | Net cash used in investing activities | ($33,458) | ($13,356) | | Net cash from financing activities | $3,104 | $16 | | **Net change in cash** | **($43,781)** | **($21,696)** | | **Cash, end of period** | **$15,831** | **$107,369** | [Notes to the Condensed Consolidated Interim Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) [Note 1. Nature of Operations](index=6&type=section&id=1.%20Nature%20of%20Operations) The company focuses on developing lithium brine properties in the USA and is publicly listed on multiple exchanges - The company's primary business is the exploration and development of lithium brine properties in Arkansas and Texas, USA[7](index=7&type=chunk) - The company's shares are publicly traded on the TSX Venture Exchange and NYSE American under the symbol **"SLI"**, and on the Frankfurt Exchange as **"S5L"**[8](index=8&type=chunk) [Note 2. Basis of Presentation](index=6&type=section&id=2.%20Basis%20of%20Presentation) These unaudited interim financial statements were prepared in accordance with IFRS Accounting Standards under IAS 34 - The financial statements adhere to IFRS Accounting Standards applicable to interim financial statements under IAS 34[9](index=9&type=chunk) - These statements are condensed and should be read alongside the Company's annual consolidated financial statements for the year ended June 30, 2023[10](index=10&type=chunk) [Note 4. Property, Plant and Equipment](index=7&type=section&id=4.%20Property,%20Plant%20and%20Equipment) The net book value of property, plant, and equipment increased due to additions for a carbon capture plant and land purchase Net Book Value of Property, Plant and Equipment (in thousands of CAD) | Asset Category | Dec 31, 2023 | June 30, 2023 | | :--- | :--- | :--- | | Demonstration plant | $795 | $795 | | Aqualung Carbon Capture pilot plant | $1,445 | $1,778 | | Land for future South West Arkansas Project plant | $939 | $0 | | Other | $187 | $192 | | **Total** | **$3,366** | **$2,765** | [Note 5. Exploration and Evaluation Assets](index=8&type=section&id=5.%20Exploration%20and%20Evaluation%20Assets) Exploration and evaluation assets grew by $34.2 million, driven by significant investments in Texas and Arkansas projects Exploration and Evaluation Asset Growth (in thousands of CAD) | Project | Dec 31, 2023 | June 30, 2023 | | :--- | :--- | :--- | | South West Arkansas Project | $36,675 | $29,731 | | Commercial Plant Evaluation (Lanxess 1A) | $35,363 | $25,356 | | Texas Properties | $36,205 | $19,060 | | California Property | $25,925 | $25,805 | | **Total** | **$134,168** | **$99,952** | - On October 31, 2023, the Company exercised its option with TETRA Technologies, Inc to acquire brine productions rights for the South West Arkansas Project at **no additional cost**[14](index=14&type=chunk) [Note 7. Demonstration Plant Operations](index=9&type=section&id=7.%20Demonstration%20Plant%20Operations) Operating costs for the demonstration plant decreased year-over-year due to lower supply and personnel expenses Demonstration Plant Operating Costs (in thousands of CAD) | Cost Category | Six Months Ended Dec 31, 2023 | Six Months Ended Dec 31, 2022 | | :--- | :--- | :--- | | Personnel | $2,626 | $3,042 | | Testwork | $1,049 | $561 | | Reagents | $566 | $584 | | Supplies | $488 | $1,682 | | **Total** | **$5,202** | **$5,975** | [Note 8. Share Capital](index=10&type=section&id=8.%20Share%20Capital) The company engaged in significant share capital activities, including ATM offerings, option exercises, and incentive plan grants [Share Issuances](index=10&type=section&id=8.1%20Share%20Issuances) Capital was raised through an At-The-Market offering and the exercise of stock options - Issued **1,426,359 common shares** under the ATM offering for net proceeds of **$4,177 thousand** during the six months ended Dec 31, 2023[19](index=19&type=chunk) - Issued **100,000 common shares** from the exercise of stock options for proceeds of **$140 thousand**[18](index=18&type=chunk) [Options](index=10&type=section&id=8.2%20Options) The company granted 1.75 million new stock options, increasing the total outstanding options to 9.82 million Stock Option Transactions | Transaction | Number of options | Weighted average exercise price | | :--- | :--- | :--- | | **Balance at June 30, 2023** | **8,170,000** | **$4.43** | | Options exercised | (100,000) | $1.40 | | Options granted | 1,750,000 | $4.00 | | **Balance at December 31, 2023** | **9,820,000** | **$4.38** | [Long-term Incentive Plan](index=11&type=section&id=8.3%20Long-term%20Incentive%20Plan) A grant of nearly 2 million DSUs to the Board and Management resulted in a $4.9 million share-based payment expense - Granted **1,991,004 Deferred Share Units (DSUs)** to the Board of Directors and Management[23](index=23&type=chunk) - Recorded **$4,929 thousand** in share-based payment expense related to the DSU grant during the six-month period[23](index=23&type=chunk) [Note 9. Related Party Transactions](index=12&type=section&id=9.%20Related%20Party%20Transactions) Key management compensation increased sharply due to share-based payments, and services were procured from a related entity Key Management Compensation (in thousands of CAD) | Component | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Management and director fees | $1,314 | $1,024 | | Share-based payments | $4,929 | $0 | | **Total** | **$6,255** | **$1,024** | - The company incurred **$760 thousand** in R&D costs from Telescope Innovations Corp, a related party, under a Master Services Agreement[26](index=26&type=chunk) [Note 10. Financial Instruments and Financial Risk Management](index=13&type=section&id=10.%20Financial%20Instruments%20and%20Financial%20Risk%20Management) The company faces significant liquidity risk due to a sharp decline in working capital and manages foreign exchange risk [Risk Management](index=14&type=section&id=10.1%20Risk%20Management) The company faces significant liquidity risk with a sharp drop in working capital and is exposed to foreign currency fluctuations - The company faces liquidity risk as working capital has decreased significantly to **$5,668 thousand** at Dec 31, 2023, from **$48,800 thousand** at June 30, 2023[34](index=34&type=chunk) - The company is exposed to foreign currency risk through its US dollar-denominated cash and accounts payable; a **10% change** in the USD/CAD rate would change comprehensive loss by approximately **$316 thousand**[35](index=35&type=chunk) [Note 11. Contingencies](index=15&type=section&id=11.%20Contingencies) The company is defending against a securities class action lawsuit alleging misrepresentation of its DLE technology - A securities class action lawsuit was filed against the company and certain officers, alleging misrepresentations about its LiSTR DLE technology and recovery percentages between May 2020 and February 2022[36](index=36&type=chunk) - The company is vigorously defending against the action and has not recorded any provision as the outcome is undeterminable[36](index=36&type=chunk) [Note 12. Subsequent Event](index=15&type=section&id=12.%20Subsequent%20Event) The company continued its ATM offering after the period end, raising an additional $7.2 million in net proceeds - After December 31, 2023, the company issued **3,218,200 common shares** under its ATM offering, raising proceeds of **$7,157 thousand** net of transaction costs[37](index=37&type=chunk)

[Condensed Consolidated Interim Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) [Statements of Financial Position](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Financial%20Position) Standard Lithium's total assets slightly decreased to $170.9 million as of September 30, 2023, driven by lower cash partially offset by higher exploration assets | | September 30, 2023 (in thousands CAD) | June 30, 2023 (in thousands CAD) | | :--- | :--- | :--- | | **Total Current Assets** | $38,606 | $62,049 | | **Total Non-current Assets** | $132,269 | $111,448 | | **TOTAL ASSETS** | **$170,875** | **$173,497** | | **Total Current Liabilities** | $14,761 | $13,249 | | **Total Non-current Liabilities** | $789 | $872 | | **TOTAL LIABILITIES** | **$15,550** | **$14,121** | | **TOTAL EQUITY** | **$155,325** | **$159,376** | - Cash decreased significantly by **37.6%** from **$59.6 million** to **$37.2 million** during the quarter[2](index=2&type=chunk) - Exploration and evaluation assets increased by **22.2%** from **$99.9 million** to **$122.1 million**[2](index=2&type=chunk) [Statements of Comprehensive Income (Loss)](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) The company reported a net loss of **$9.7 million** for the three months ended September 30, 2023, a substantial increase from the prior year, driven by higher operating and share-based payment expenses | Metric (in thousands CAD) | Three months ended Sep 30, 2023 | Three months ended Sep 30, 2022 | | :--- | :--- | :--- | | Demonstration plant operations | $3,383 | $2,876 | | Share-based payments | $2,740 | $790 | | Consulting fees | $1,151 | $501 | | **Loss from operations** | **($10,288)** | **($2,113)** | | **Net loss for the period** | **($9,734)** | **($1,558)** | | **Total comprehensive (loss) income** | **($6,918)** | **$2,058** | - Basic and diluted loss per share was **($0.06)** for the quarter, compared to **($0.01)** for the same period in the prior year[3](index=3&type=chunk) [Statements of Changes in Equity](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Changes%20in%20Equity) Total equity decreased by **$4.1 million** to **$155.3 million** at September 30, 2023, primarily due to the net loss, partially offset by share-based payments and currency translation adjustments | Equity Component (in thousands CAD) | Balance, June 30, 2023 | Changes in Q1 2024 | Balance, Sep 30, 2023 | | :--- | :--- | :--- | :--- | | Share capital | $272,419 | $253 | $272,672 | | Reserves | $35,888 | $2,614 | $38,502 | | Deficit | ($148,707) | ($9,734) | ($158,441) | | Accumulated other comprehensive loss/income | ($224) | $2,816 | $2,592 | | **Total Equity** | **$159,376** | **($4,051)** | **$155,325** | [Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Cash%20Flows) The company experienced a net decrease in cash of **$22.4 million** during the quarter, primarily due to significant cash usage in investing and operating activities | Cash Flow Activity (in thousands CAD) | Three months ended Sep 30, 2023 | Three months ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($6,442) | ($6,849) | | Net cash used in investing activities | ($16,725) | ($4,581) | | Net cash from (used in) financing activities | ($29) | $69 | | **Net change in cash** | **($22,429)** | **($4,995)** | | **Cash, end of period** | **$37,183** | **$124,070** | - Cash used in investing activities increased significantly year-over-year, driven by a **$15.7 million** investment in exploration and evaluation assets[5](index=5&type=chunk) [Notes to the Condensed Consolidated Interim Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) [Note 1: Nature of Operations](index=6&type=section&id=1.%20Nature%20of%20Operations) Standard Lithium Ltd. is a Canadian company focused on the exploration and development of lithium brine properties in the United States - The Company's principal operations involve the exploration and development of lithium brine properties in the USA[6](index=6&type=chunk) [Note 5: Exploration and Evaluation Assets](index=8&type=section&id=5.%20Exploration%20and%20Evaluation%20Assets) The company's exploration and evaluation assets grew to **$122.1 million** as of September 30, 2023, primarily due to significant investments in Texas Properties and the South West Arkansas Project | Project (in thousands CAD) | Balance, June 30, 2023 | Balance, Sep 30, 2023 | Change | | :--- | :--- | :--- | :--- | | California Property | $25,805 | $26,562 | $757 | | South West Arkansas Project | $29,731 | $33,365 | $3,634 | | Commercial Plant Evaluation (Lanxess 1A) | $25,356 | $30,285 | $4,929 | | Texas Properties | $19,060 | $31,907 | $12,847 | | **Total** | **$99,952** | **$122,119** | **$22,167** | [Note 7: Demonstration Plant](index=9&type=section&id=7.%20Demonstration%20Plant%20%28formerly%20Pilot%20Plant%29) Operating costs for the demonstration plant totaled **$3.4 million** for the quarter, an increase from the prior year, primarily driven by personnel, testwork, and reagents | Cost Component (in thousands CAD) | Three months ended Sep 30, 2023 | Three months ended Sep 30, 2022 | | :--- | :--- | :--- | | Personnel | $1,190 | $1,309 | | Testwork | $785 | $322 | | Reagents | $629 | $435 | | Supplies | $385 | $751 | | Repairs and maintenance | $338 | $7 | | **Total Costs** | **$3,383** | **$2,876** | [Note 8: Share Capital](index=9&type=section&id=8.%20Share%20Capital) This section details the company's equity structure, including stock options and long-term incentive plans, with new grants and a **$2.5 million** share-based payment expense recorded [Stock Options](index=9&type=section&id=8.b%20Options) During the quarter, **1.75 million** new stock options were granted and **100,000** exercised, resulting in **9.82 million** options outstanding at quarter-end | Stock Option Transactions | Number of options | Weighted average exercise price | | :--- | :--- | :--- | | Balance at June 30, 2023 | 8,170,000 | $4.43 | | Options exercised | (100,000) | $1.40 | | Options granted | 1,750,000 | $4.00 | | **Balance at Sep 30, 2023** | **9,820,000** | **$4.38** | - Of the **9.82 million** options outstanding at September 30, 2023, a total of **8.07 million** were exercisable[19](index=19&type=chunk) [Long-term Incentive Plan](index=11&type=section&id=8.c%20Long-term%20Incentive%20Plan) The company recorded a **$2.5 million** share-based payment expense related to **1,991,004** DSUs granted to the Board and Management under its equity incentive plan - The company granted **1,991,004** DSUs to its Board and Management, which vest on April 11, 2024[20](index=20&type=chunk) - A share-based payment expense of **$2,549 thousand** was recorded in the three-month period related to this DSU grant[20](index=20&type=chunk) [Note 9: Related Party Transactions](index=12&type=section&id=9.%20Related%20Party%20Transactions) Compensation to key management totaled **$3.1 million** for the quarter, largely non-cash share-based payments, with additional R&D costs incurred from a related party | Compensation to Key Management (in thousands CAD) | Sep 30, 2023 | Sep 30, 2022 | | :--- | :--- | :--- | | Management and director fees | $586 | $514 | | Share-based payments | $2,549 | — | | **Total** | **$3,142** | **$514** | - The company has a Master Services Agreement with Telescope Innovations Corp., a related party, for R&D services, incurring **$583 thousand** in costs during the period[23](index=23&type=chunk) [Note 10: Financial Instruments and Financial Risk Management](index=12&type=section&id=10.%20Financial%20Instruments%20and%20Financial%20Risk%20Management) The company actively manages financial risks, including liquidity and foreign exchange, with working capital decreasing to **$23.8 million** and exposure to USD/CAD exchange rate fluctuations [Liquidity Risk](index=14&type=section&id=10.ii%20Liquidity%20risk) The company's working capital significantly decreased to **$23.8 million** at September 30, 2023, from **$48.8 million** at June 30, 2023, indicating reduced liquidity - At September 30, 2023, the Company has working capital of **$23,845 thousand**, a significant decrease from the June 30, 2023 balance of **$48,800 thousand**[29](index=29&type=chunk) [Foreign Exchange Risk](index=14&type=section&id=10.iii%20Foreign%20exchange%20risk) The company is exposed to foreign exchange risk from U.S. dollar-denominated assets and liabilities, with a 10% USD/CAD rate change impacting comprehensive loss by approximately **$1.4 million** | USD Denominated Items (in thousands CAD) | Sep 30, 2023 | June 30, 2023 | | :--- | :--- | :--- | | Cash | $23,472 | $42,745 | | Accounts payable | ($9,223) | ($5,926) | - A **10%** fluctuation in the USD/CAD exchange rate would impact the comprehensive loss by approximately **$1,425 thousand**[30](index=30&type=chunk) [Note 11: Contingencies](index=14&type=section&id=11.%20Contingencies) Standard Lithium is defending a securities class action lawsuit alleging misrepresentations regarding its DLE technology and lithium recovery rates, with no provision recorded as the outcome is undeterminable - A securities class action lawsuit was filed against the Company in January 2022, alleging violations of the U.S. Securities Exchange Act[31](index=31&type=chunk) - The complaint alleges misrepresentation regarding the Company's LiSTR DLE technology and lithium recovery percentages at its Demonstration Plant[31](index=31&type=chunk) - The company has not recorded any provision for this lawsuit as the outcome is currently undeterminable[31](index=31&type=chunk) [Note 12: Subsequent Event](index=14&type=section&id=12.%20Subsequent%20Event) Subsequent to the reporting period, on October 31, 2023, the company exercised its option with TETRA Technologies, Inc. to secure brine production rights for the South West Arkansas Project - On October 31, 2023, the Company exercised its option agreement with TETRA Technologies, Inc. to acquire brine production rights for the South West Arkansas Project[32](index=32&type=chunk)

Exhibit 99.1 STANDARD LITHIUM ANNOUNCES RESULTS OF 2023 ANNUAL GENERAL AND SPECIAL MEETING El Dorado, Arkansas – April 4, 2023 – Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial lithium company, is pleased to announce the detailed voting results from its Annual General and Special Meeting held on April 4, 2023 (the "Meeting"). A total of 42,664,744 common shares were represented at the Meeting, representing 25.42% of the issue ...