Standard Lithium (SLI) Q1 2025 earnings summary

Executive summary

• Prioritized high-return assets in East Texas and Southwest Arkansas, with execution focus in 2025.

• Achieved key Q1 2025 milestones, including a $225M DOE grant for the Southwest Arkansas Project and successful DLE technology pilot testing with >99% lithium recovery.

• Advanced project development with regulatory approvals, expanded leasehold in East Texas, and launched Smackover Lithium JV with Equinor.

• Strategic partnership with Equinor and DOE grant support have strengthened project momentum and credibility.

Financial highlights

• Reported Q1 2025 net loss of $1.6 million, a significant improvement from $7.7 million net loss in Q1 2024, driven by cost reductions and a $3 million gain from Aqualung investment.

• Ended Q1 2025 with $31.6 million in cash and $31.3 million in working capital, with no term or revolving debt obligations.

Outlook and guidance

• DFS for Southwest Arkansas expected to finalize in summer 2025, with royalty rate and offtake agreements as key inputs.

• Maiden inferred resource report for East Texas targeted for Q3 2025, with further resource reports planned.

• Focused on achieving final investment decision at SWA and advancing East Texas projects, with near-term liquidity needs expected to be met by current cash, ATM program, and DOE reimbursements.