Standard Lithium signs deals for up to 20,000 tonnes/year

Available on EDGAR 11/12/2026 - 04:45 PM EST Accepted by SEC EDGAR 11/12/2026 - 04:45 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Standard Lithium reported third-quarter and nine-month 2026 results, highlighting completed customer offtake agreements for the South West Arkansas (SWA) Project and progress toward project financing. Binding agreements with LG Energy Solution and Trafigura bring SWA commitments to up to 20,000 tonnes per year for 10 years; LG Energy Solution’s agreement is for 8,000 tonnes per year.

The Franklin Project preliminary economic assessment (PEA) considers production capacity of up to 70,000 tonnes per year and estimates an unlevered pre-tax net present value of $5.9 billion, a 25.7% internal rate of return and a three-year payback period. For SWA, financing remains the key workstream before a final investment decision (FID); the company is targeting over $1.2 billion in senior secured project debt and expects FID by the end of the first quarter of 2027, with construction shortly thereafter. Cash was $118.1 million and working capital was $114.4 million as of September 30, 2026; the company reported no term or revolving debt obligations.

Key Figures

SWA offtake commitments: Up to 20,000 tonnes per year Franklin Project PEA capacity: Up to 70,000 tonnes per year Franklin Project unlevered pre-tax net present value: $5.9 billion +4 more

7 metrics

SWA offtake commitments Up to 20,000 tonnes per year Binding agreements with LG Energy Solution and Trafigura; for 10 years

Franklin Project PEA capacity Up to 70,000 tonnes per year Battery-quality lithium carbonate production capacity

Franklin Project unlevered pre-tax net present value $5.9 billion PEA estimate

Franklin Project internal rate of return 25.7% PEA estimate

Cash $118.1 million As of September 30, 2026

Working capital $114.4 million As of September 30, 2026

Targeted senior secured project debt Over $1.2 billion SWA Project financing target

Key Terms

Preliminary Economic Assessment, unlevered pre-tax net present value, internal rate of return, final investment decision, +2 more

6 terms

Preliminary Economic Assessment technical

"The PEA for the Franklin Project"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

unlevered pre-tax net present value financial

"an unlevered pre-tax net present value of $5.9 billion"

internal rate of return financial

"an internal rate of return of 25.7%"

A percentage that represents the annualized yield an investment would earn, taking into account the timing and amount of all cash inflows and outflows; mathematically it is the rate that makes the discounted sum of future cash flows equal the initial cost. Investors use it to compare different projects or deals the way they compare interest rates — a higher internal rate of return suggests a stronger potential payoff, but it does not by itself show risk, scale, or timing nuances.

final investment decision technical

"prior to taking FID at the SWA Project"

A final investment decision is the point at which a person or organization chooses to move forward with a particular project or purchase after reviewing all the necessary information and options. It is like deciding to buy a house after considering all the costs, benefits, and alternatives. This decision is important because it determines whether and when the investment will be made, impacting future financial plans and outcomes.

National Environmental Policy Act regulatory

"receiving National Environmental Policy Act (NEPA) approval"

A U.S. law that requires federal agencies to evaluate and disclose the likely environmental effects of major projects and decisions before they proceed. For investors, that review can delay approvals, add compliance costs, or change project plans—like a required safety inspection that can uncover problems or require fixes before construction continues—so NEPA processes are a key source of timing, cost and legal risk for projects involving federal permits or funding.

senior secured project debt financial

"over $1.2 billion in total senior secured project debt"

Debt used to finance a specific project where lenders have the first claim on that project's cash flows and assets if something goes wrong; it sits ahead of other claims in the payment order and is backed by collateral tied to the project. Think of it like a mortgage on a single building: because lenders can seize the project if payments stop, this debt usually carries lower risk for lenders and affects potential returns, risk profile, and financing flexibility for equity investors.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much lithium carbonate will Standard Lithium supply under its SWA offtake agreements?

The SWA Project has commitments for up to 20,000 tonnes per year for 10 years under binding agreements with LG Energy Solution and Trafigura. The LG Energy Solution agreement covers 8,000 tonnes per year following the start of commercial production.

What did Standard Lithium’s Franklin Project PEA estimate?

The PEA estimates an unlevered pre-tax net present value of $5.9 billion, an internal rate of return of 25.7% and a three-year payback period. It contemplates annual production capacity of up to 70,000 tonnes of battery-quality lithium carbonate.

What operating cost and capital intensity did the Franklin Project PEA estimate?

The PEA estimates average annual lithium cash operating cost of $4,226 per tonne and capital intensity of $49,945 per tonne.

What work remains before the SWA Project can reach FID?

Project financing is the key remaining workstream. Standard Lithium said three of four primary pre-FID deliverables are complete: construction vendor contracts, National Environmental Policy Act approval and the customer offtake process. The financing due diligence review was substantially complete, while reserve facility funding requirements, legal agreements and lender credit approvals remained in process.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2026

Commission File Number: 001-40569

Standard Lithium Ltd.
(Translation of registrant's name into English)

Suite 1625, 1075 West Georgia Street
Vancouver, British Columbia, Canada V6E 3C9
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

On November 12, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(c) Exhibit 99.1. Press release dated November 12, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Standard Lithium Ltd.
		(Registrant)
Date: November 12, 2026		/s/ Salah Gamoudi
		Salah Gamoudi
		Chief Financial Officer

EXHIBIT 99.1

Standard Lithium Reports Third Quarter 2026 Results

• Announced and Filed Positive Preliminary Economic Assessment (“PEA”) for the High-Grade 70,000 Tonnes Per Year Franklin Project
• Completed South West Arkansas Project (“SWA Project”) Customer Offtake Process through Binding Agreements with LG Energy Solution and Trafigura
• Advanced SWA Project Financing Process, the Key Remaining Workstream Prior to a Final Investment Decision (“FID”)
• Expect to Take FID by Q1 2027 Followed Promptly by Construction

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE.A: SLI), a leading near-commercial lithium company, today announced its financial and operating results for the three- and nine-month periods ended September 30, 2026.

“We had a busy and productive third quarter as we continue to advance important milestones and complete key workstreams for the Company,” said David Park, Chief Executive Officer and Director of Standard Lithium. “We secured long-term commercial agreements with one of the world’s leading battery producers in LG Energy Solution as well as one of the largest global commodity traders in Trafigura. Our expanding partnerships are a testament to the high quality of the SWA Project and the importance of our role in developing a scalable and competitive domestic lithium supply chain. We also released a Preliminary Economic Assessment for the Franklin Project highlighting the strength of one of the biggest and highest-quality lithium brine resources in North America and our pathway to building a substantial portfolio of lithium projects.”

“With our customer offtake process now complete, we have moved to finalizing and closing the SWA Project financing as quickly as possible before taking FID and moving into construction.”

Highlights Subsequent to the Three-Month Period Ended September 30, 2026

All amounts are in US dollars unless otherwise indicated. All terms not otherwise defined have the meaning given to them under the CIM Definition Standards for mineral resources and mineral reserves.

• Files Positive PEA for Up to 70,000 Tonnes Per Year Battery-Quality Lithium Carbonate Franklin Project
  The PEA for the Franklin Project, the first defined project area of Smackover Lithium, the Company’s partnership with Equinor, in the East Texas region of the Smackover Formation, highlights the globally significant size and high quality of its brine position. It marks a key step towards Smackover Lithium’s goal of reaching over 100,000 tonnes of lithium chemical production per year in Texas through multiple phases and projects. The principal recommendation of the PEA is to advance the Franklin Project to a Preliminary Feasibility Study.
• Appoints Ralph Alexander to the Board of Directors
  On October 13, 2026, the Company announced the appointment of Ralph Alexander as an independent member of the Board of Directors, effective immediately. Mr. Alexander brings more than four decades of leadership across the global energy, chemicals, power and infrastructure sectors. His extensive operating, investment and public company governance experience will add valuable perspective as Standard Lithium advances its portfolio of large-scale projects.

Highlights From Three-Month Period Ended September 30, 2026

• Exceeds Targeted Customer Offtake Volumes for SWA Project
  Amended binding commercial offtake agreement with Trafigura, a market leader in the global commodities industry. The amendment provided the additional offtake volumes to complete the SWA Project’s customer offtake process and move to finalizing the ongoing debt financing process. The initial target was to secure customer offtake agreements for roughly 80% (18,000 tonnes) of the 22,500 tonnes of annual nameplate battery-quality lithium carbonate capacity in its initial phase. Together with the agreement with LG Energy Solution, total commitments have reached up to 20,000 tonnes per year for 10 years.
• Signs Binding Customer Offtake with LG Energy Solution (“LGES”) for the SWA Project
  Signed a second binding commercial offtake agreement with LGES, a leading global manufacturer of lithium-ion batteries. The SWA Project will supply LGES with 8,000 tonnes per year of battery-quality lithium carbonate over a 10-year period following the start of commercial production. Pricing and other key commercial terms are subject to confidentiality but have been structured to support the SWA Project financing.
• Announces Positive PEA for the Franklin Project, its First Lithium Project in East Texas
  The PEA, which contemplates annual production capacity of up to 70,000 tonnes of battery-quality lithium carbonate, is highlighted by attractive economics including an unlevered pre-tax net present value of $5.9 billion, an internal rate of return of 25.7% and a three-year payback period, along with average annual lithium cash operating cost of $4,226/t and a capital intensity of $49,945/t. Additionally, it includes an upgraded and upsized Mineral Resource with some of the highest lithium-in-brine concentrations reported in North America. The PEA also considers a scenario based on a co-located bromine facility of 50,000 tonnes per year alongside the lithium operation. Standard Lithium and Equinor anticipate further evaluating potential commercial opportunities for both bromine and potash given the significant scale and quality of the resources, as well as the designation of potash as a U.S. critical mineral in 2025.
• Demonstrates Successful Use of South West Arkansas Lithium Carbonate in North American LFP Battery Cells
  Lithium carbonate produced from the SWA Project pilot plant was successfully used by Nano One® to manufacture lithium iron phosphate cathode active material and battery cells in North America. The testing provides further validation of SWA Project’s process flowsheet and the suitability of its battery-quality lithium carbonate in downstream applications and advances the Company’s commitment to technological innovation and support for the development of a domestic, fully integrated energy storage supply chain.

• Cash and working capital of $118.1 million and $114.4 million, respectively, as of September 30, 2026.
• The Company has no term or revolving debt obligations as of September 30, 2026.
  
  

SWA Project Final Investment Decision

Significant progress has been made year-to-date, with three of the four primary deliverables required prior to taking FID at the SWA Project completed: executing the engineering, procurement, construction and commissioning (EPCC) and the engineering, procurement and construction management (EPCM) construction vendor contracts, receiving National Environmental Policy Act (NEPA) approval from federal regulators, and concluding the customer offtake process.

The EPC and EPCM have been operating under a Limited Notice to Proceed for the last six months, focusing on key activities to de-risk the SWA Project and optimize the construction schedule. This includes detailed engineering, identifying long-lead time items with vendors, completing relevant construction permitting, team building and community engagement. They are expected to transition to a Full Notice to Proceed promptly following a positive FID.

Smackover Lithium continues to advance the project financing workstream as the key remaining milestone for achieving FID. The Company has been working closely with the Export Credit Agencies (“ECAs”), including the Export-Import Bank of the United States (EXIM), Export Development Canada (EDC) and Export Finance Norway (Eksfin), each of which remains highly interested in supporting the SWA Project. While the ECA financing process has taken longer than initially anticipated, the comprehensive due diligence review is substantially complete without any material concerns.

Smackover Lithium is now targeting over $1.2 billion in total senior secured project debt, exceeding its initial expectations of up to $1.1 billion. The Company is actively working to finalize all reserve facility funding requirements, which will inform the final SWA Project sources and uses and enable the completion of binding legal agreements and the credit approval processes by the ECAs as quickly as possible. Based on the current financing timeline, Smackover Lithium now expects to take FID by the end of the first quarter of 2027, with construction beginning shortly thereafter.

Three-Month Period Ended September 30, 2026 Webcast

The Company will hold a webcast to discuss its three-month period ended September 30, 2026 on Monday, November 16^th at 4:30 p.m. ET. Live access as well as a replay will be available via webcast.

Webcast Details
Standard Lithium Q3 2026 Earnings Call and Webcast
November 16, 2026 4:30 p.m. Eastern Time (USA and Canada)

Attendee Webcast Link: https://events.q4inc.com/attendee/170915932

Consolidated Financial Statements

This news release should be read in conjunction with the Company’s Consolidated Financial Statements and MD&A for the three- and nine-month periods ended September 30, 2026, which are available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

Qualified Person

All scientific and technical disclosure in this release was reviewed and approved by Mr. Stephen Ross, P.Geo., British Columbia, Vice President of Resource Development for Standard Lithium and a Qualified Person for purposes of, and as that term is defined in, National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Ross is not independent of the Company.

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The Company prioritizes projects characterized by high-grade resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated direct lithium extraction and purification process. The Company’s flagship projects are in the Smackover Formation, an attractive lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor, Standard Lithium is advancing the SWA Project, a greenfield project located in southern Arkansas, and actively advancing a promising lithium brine resource position in East Texas, including the highest known lithium brine grade project in North America, the Franklin Project.

Standard Lithium trades on both the TSX Venture Exchange (“TSXV”) and the NYSE American under the symbol “SLI”. Visit the Company’s website at www.standardlithium.com for more information.

Department of Energy Acknowledgement and Disclaimer

This material is based upon work supported by the U.S. Department of Energy's Office of Critical Minerals and Energy Innovation under award Number DE-MS0000099. The views expressed herein do not necessarily represent the views of the U.S. Department of Energy or the United States Government.

Investor Inquiries
Daniel Rosen
+1 604 409 8154
investors@standardlithium.com

Media Inquiries
media@standardlithium.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “contemplate”, “target”, “plan”, “forecast”, “may”, “could”, “will”, “would”, “should”, “schedule”, “predict”, “budget”, “project”, “potential” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the cost and timing of any development of the SWA Project, construction of, and production at, the SWA Project, expected attributes of the SWA Project, regulatory or government requirements or approvals, continued exploration and advancement of the Franklin Project, the anticipated timing of FID, the anticipated timing of a Preliminary Feasibility Study on the Franklin Project, the size and quality of the Franklin Project brine position, future expansion of leaseholds in East Texas, the timing and ability to complete vendor contracts and SWA Project debt agreements, the timing and success of the commercial bank process, and its ability to provide a portion of the financing package under both ECA-covered and uncovered tranches, Mr. Alexander’s experience adding value to the Company’s board of directors, the Company’s ability to create a scalable and competitive domestic lithium supply chain and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 PRESS RELEASE 16.1 KB