Standard Lithium Ltd.

Ladies and gentlemen, thank you for joining us and welcome to the Standard Lithium's Fiscal Third Quarter 2025 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a brief question and answer session. If you would like to ask a question, please raise your hand. If you have dialed in to today's call, please press star 9 to raise your hand and star 6 to unmute. I will now hand the conference over to Daniel Rosen, Vice President of Investor Relations and Strategy for Standard Lithium. Daniel, please go ahead.

Thank you and welcome, everyone. I'm joined today by David Park, our CEO and Director, Andy Robinson, President, COO, and Director, Salah Ghamoudi, Chief Financial Officer, and Mike Barman, Chief Development Officer. Before we begin, I would like to start with a reminder that some of the statements made during our call today, including any related to company performance, expectations, and timing of projects, may constitute forward-looking statements. Please note the cautionary language about forward-looking statements contained in our press release, which also applies to this call. I will now turn the call over to David.

Thanks, Dan. And I appreciate everyone for joining us today. We had a very busy and productive third quarter as we successfully executed on multiple key milestones that we had set out to achieve. We completed a definitive feasibility study for our Southwest Arkansas project. highlighting both the attractiveness and cost competitiveness of our first commercial project being developed alongside our Smackover Lithium JV partner, Equinor. The SWA project is expected to have initial production capacity of 22,500 tons per annum of battery-quality lithium carbonate. producing 447,000 LCE tons of proven reserves over its model 20-year operating life, or 38% of the 1.2 million measured and indicated resource. Average lithium concentrations in brine are expected to begin at 549 milligrams per liter and produce at an average lithium concentration of 481 milligrams per liter over the period, demonstrating what we believe to be very small declines in lithium concentration and result in production over the projected operating life. The DFS is highlighted by a 20.2% unlevered pre-tax IRR with competitive average operating costs of about $4,500 per ton, all-in costs of approximately $5,900 per ton over the operating life, and all-in Class III CapEx estimate of $1.45 billion, which includes a 12.3% contingency. The project is well engineered, defined, and ready to progress to a final investment decision following a few remaining milestones that we will discuss. Construction is expected to commence in 2026 shortly after reaching FID with first production targeted in 2028. We also released a made and inferred resource report for our Franklin project in East Texas. This report for Smackover Lithium's first of three planned projects in East Texas region of the Smackover highlights the size and quality of its brine position. with some of the highest reported lithium in brine grades in all of North America. It includes 2.2 million tons LCE of lithium at an average grade of 668 milligrams per liter, as well as 15.4 million tons of potash, a newly added mineral to the USGS 2025 draft critical mineral list. and 2.6 million tons of bromide. It provides a strong foundation for future scalable production, and it marks a key step toward the ultimate goal of reaching production of over 100,000 tons of lithium chemicals per year in Texas through multiple projects. As we've said, Standard Lithium is more than a single project company. We believe East Texas to be a meaningfully underappreciated part of our portfolio, and we expect this report to be a key step towards achieving more appropriate recognition for this world class asset. Following third quarter close in October, we close an underwritten public offering of 29.9Million common shares at a price of $4.35 per share. for gross proceeds of approximately $130 million. We received strong support from institutional investors, highlighted by an oversubscribed order book and our ability to upsize the transaction by $10 million, which underscores the confidence in our strategy and the quality of our assets. This fundraise was an important milestone for the company and a key de-risking step that will put us in a strong position to reach FID at SWA. Lastly, we expanded our leadership team with the appointment of Michael Lutgring as General Counsel. This addition to the leadership team is critical as we strengthen our capabilities, bring further expertise in-house, and continue our growth and development as a company. To provide more detail on key project-related developments and deliverables ahead, I'll pass it over to Andy.