Standard Lithium Ltd.

Hello, everyone. Thank you for joining us and welcome to the Standard Lithium fourth quarter 2025 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, press star one again. I will now hand the call over to Daniel Rosen, Vice President of Investor Relations and Strategy for Standard Lithium. Please go ahead.

Thank you, and welcome, everyone. I am 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 joining us today. We had a busy and productive fourth quarter as we advanced and completed multiple important milestones and deliverables for the company. We filed a positive definitive feasibility study for the SWA project and a maiden inferred resource report for our first project in East Texas, the Franklin project. The DFS for SWA demonstrates the attractiveness and cost competitiveness of our first commercial project being developed alongside our smack over lithium JV partner Equinor, which is expected to have production capacity of 22,500 tons per year of battery quality lithium carbonate in its initial phase. The maiden resource estimate for the JV's Franklin project in East Texas 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 provides a strong foundation for future scalable production and is a key step towards the ultimate goal of reaching production of over 100,000 tons of lithium chemicals per year in Texas through multiple projects. We obtained the final regulatory approval required for SWA from the Arkansas Oil and Gas Commission for integration, receiving unanimous support for our application for the Reynolds Brine Unit, where the initial phase of the project is planned to be developed. And we continued to strengthen our own financial position while also progressing the export credit agency-led project financing for the SWA project. In October, Standard Lithium closed an upsized $130 million underwritten public offering. We saw strong support from institutional investors and an oversubscribed order book, underscoring the belief in our strategy and the quality of our assets. Additionally, Smackover Lithium received indications of interest for over a billion dollars in project financing for the SWA project, led by three major export credit agencies, including the Export-Import Bank of the United States and Export Finance Norway, and supported by a strong group of commercial banks. Interest came in at competitive indicative terms and exceeds the targeted debt amount. To begin 2026, we've been working diligently to advance the remaining work streams needed to reach a final investment decision for the SWA project. We've made meaningful progress on all fronts, including the signing of our first binding commercial offtake agreement with Trafigura, a global commodities market leader with an established presence across battery metals, including lithium. Smackover Lithium will supply Trafigura with 8,000 metric tons per year of battery-quality lithium carbonate for over a 10-year period, beginning at the start of commercial production. We'll address the status of each of the remaining work streams and how it supports our plan to take FID and begin construction in 2026. To provide an update on the key project-related developments and deliverables ahead, I'll pass it over to Andy. Thanks, David.