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].

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].