34 slides from Sprott Junior Copper Miners ETF's investor presentation, Jun 23, 2026
Slide 1: Metals and Miners: Opportunities in the Strategic Resource Race
Metals and Miners: Opportunities in the Strategic Resource Race Webcast: June 23, 2026
Slide 2: Featured Speakers
Featured Speakers Paul Wong, CFA Ryan McIntyre, MBA, CFA Ed Coyne Managing Partner, Market Strategist, President, Sprott Inc. and Senior Portfolio Senior Managing Partner, Sprott Inc. Manager, Sprott Asset Management USA, Inc. Global Sales, Sprott Inc. Read Full Bio Read Full Bio Read Full Bio Edwar
Slide 3: Webcast Outline
Webcast Outline Intro Ed Coyne Macro Overview and Technical Outlook on Gold, Silver, Copper and Uranium Paul Wong, CFA Gold, Silver and Critical Materials Fundamentals and Portfolio Positioning Ryan McIntyre, MBA, CFA Summary and Q&A Ed Coyne Sprott Webcast - Metals and Miners: Opportunities in the
Slide 4: A Global Leader in Precious Metals and Critical Materials Investments
A Global Leader in Precious Metals and Critical Materials Investments US$65.1B in AUM1 Sprott (SII) is publicly listed on the NYSE and TSX Exchange Listed Products Managed Equities Private Strategies $56.7 Billion AUM $6.3 Billion AUM $2 Billion AUM • Physical Bullion Trusts • Flagship U.S. Gold Equ
Slide 5: Macro Overview and Technical Outlook on Gold, Silver, Copper and Uranium
Macro Overview and Technical Outlook on Gold, Silver, Copper and Uranium Paul Wong, CFA Sprott Webcast - Metals and Miners: Opportunities in the Strategic Resource Race | 5
Slide 6: The Resource Scarcity and Debasement Supercycle
The Resource Scarcity and Debasement Supercycle • Monetary instability and debasement: Rising debt, persistent deficits and weakening fiat confidence alongside central bank buying are reinforcing gold’s role as a strategic reserve and store of value • Energy security and electrification: Grid build-
Slide 7: Gold: Bull Market Trend Continues
Gold: Bull Market Trend Continues Russia – Ukraine War China Gold Buying Debasement Q1 2022 – Russia Ukraine War • Russia launches invasion of Ukraine • Western governments freeze/seize Russia's FX reserves • U.S. Treasuries are no longer a neutral reserve asset • By Q3 2022, central banks begin mas
Slide 8: Silver: Critical Mineral, Monetary Asset, Chronic Deficit
Silver: Critical Mineral, Monetary Asset, Chronic Deficit Pre Q3 2025 – Cautiously Bullish • Despite soaring gold markets, silver progressed in a modest bull market • Photovoltaic demand was growing rapidly • Market balance (supply/demand, including ETPs) entered its seventh year of deficits • The g
Slide 9: Copper: Expanding the Electrical Grid, AI Data Center Demand
Copper: Expanding the Electrical Grid, AI Data Center Demand Pre Q2 2025 – Building Bullish Base • Copper recovered from the 2022 lows but remained rangebound as weak China property and soft industrial demand offset improving electrification demand and tightening mine fundamentals. Post Q2 2025 – Sc
Slide 10: Uranium: Energy Security, Resilience, Scalable
Uranium: Energy Security, Resilience, Scalable Pre Q1 2024 – Bull Market Repricing • Uranium surged as utilities, producers and financial buyers returned to a thin market amid supply disruptions, Niger risk and rising nuclear demand Post Q1 2024 – Consolidation Phase • Spot prices corrected from mul
Slide 11: Long-Term Positive Outlook for Gold, Silver, Copper and Uranium
Long-Term Positive Outlook for Gold, Silver, Copper and Uranium • Macro regime shift: Deglobalization, fiscal dominance and geopolitical fragmentation are driving a more inflationary, resource-constrained and multipolar system • Demand shock meets constrained supply: Electrification, AI infrastructu
Slide 12: Gold, Silver and Critical Materials Fundamentals and Portfolio Positioning
Gold, Silver and Critical Materials Fundamentals and Portfolio Positioning Ryan McIntyre, MBA, CFA Sprott Webcast - Metals and Miners: Opportunities in the Strategic Resource Race | 12
Slide 13: Precious Metals and Critical Materials Allocation Overview
Precious Metals and Critical Materials Allocation Overview • How much exposure one should have to precious metals and critical materials depends on risk tolerance, investment objectives, time horizon, income requirements and overall financial situation. • Benefits of an allocation to precious metals
Slide 14: Understanding Gold
Understanding Gold Gold is viewed as a monetary metal. DIFFERENTIATED PROPERTIES Gold Demand 2025 • Historical Significance: Used as a store of value for thousands of years. Technology 6% • Low Correlation: Typically has low correlation with other asset classes, potentially providing ETFs & Similar
Slide 15: Understanding Silver
Understanding Silver Silver has a dual role as both a monetary and industrial metal. DIFFERENTIATED PROPERTIES Silver Demand 2025 • Monetary Aspects: Similar to gold; used as a store of value. Photography Silverware 2% • Industrial Uses: Widely used in electronics, solar 4% panels, medical devices,
Slide 16: Gold and Silver Have Outperformed Other Asset Classes
Gold and Silver Have Outperformed Other Asset Classes Gold and Silver vs. Stocks, Bonds and USD Returns for Period from 12/31/1999-3/31/2026 2500 Compound Annual Returns 2000 Index (Base = 100) 1500 Gold 11.19% Bull Markets Silver 10.56% 1000 Post GFC Precious Metals Bull Market S&P 500 7.80% 500 Cl
Slide 17: Precious Metals and a New Look at the 60/40 Investment Portfolio
Precious Metals and a New Look at the 60/40 Investment Portfolio Replacing bonds and stocks with gold bullion within a 60/40 portfolio allocation has historically enhanced returns while reducing volatility. Risk vs. Total Return Growth of $1 Million 8.5% $5.10 $5.02 55% Stocks $5.00 8.4% 35% Bonds 1
Slide 18: Gold Supply Factors: Discovery and Production
Gold Supply Factors: Discovery and Production • Despite record spending on exploration, new gold discoveries are less frequent. • As gold production trends higher and discoveries dwindle, ore quality has become more marginal; in our view, there are likely not enough quality deposits to sustain futur
Slide 19: Gold Equities-to-Bullion Gap: Significant Catch-Up Potential
Gold Equities-to-Bullion Gap: Significant Catch-Up Potential During the global financial crisis (GFC), gold equities caught up to gold bullion and provided impressive performance. Gold Equities Currently Lag Gold Bullion (2000-2026) 6000 $6,000 5000 $5,000 4000 $4,000 Gold Equities Current Gold Bull
Slide 20: Industrial Use of Silver Is Taking Over
Industrial Use of Silver Is Taking Over • Silver industrial demand stood at 657 million ounces Industrial Silver Demand in 2025. 800 35% • The electrical and electronics sector drove this 700 growth in recent years and accounted for 450 million 30% ounces in 2025, or 40% of total demand. 600 25% • K
Slide 21: Silver Market Deficits Persist
Silver Market Deficits Persist Market Balance (including ETPs) • With strong demand and stagnant supply, the silver market has been in deficit for the past seven consecutive years (including exchange-traded product (ETP) 100 investment). Surplus 50 • Silver supply has remained stagnant, growing from
Slide 22: Sprott's Gold and Silver Mining Equities Outlook
Sprott’s Gold and Silver Mining Equities Outlook Gold Mining Equities • Torque to Gold Price: Miners tracked gold higher, gaining 6.53%* in Q1 despite a sharp February/March pullback. Strong gold prices continue to support profitability and free cash flow. • Undervalued Relative to Gold: Despite rec
Slide 23: Understanding Critical Materials
Understanding Critical Materials Critical Materials Raw materials that are vital to the global economy, national defense and modern technology. DIFFERENTIATED PROPERTIES • Industrial Importance: Essential for advanced technologies and energy security. • Technological Advancements: Driven by the grow
Slide 24: Economic Growth Is Energy Intensive
Economic Growth Is Energy Intensive • Evolving energy systems require more electricity and depend on critical materials. • Global electricity demand is estimated to increase by 157% by 2050. Surging Energy Consumption in the East: Surging Energy Consumption in the West: Driven by urbanization and in
Slide 25: The Climbing Demand for Critical Materials
The Climbing Demand for Critical Materials We expect a significant increase in the demand for critical materials over the coming decades as electricity demand accelerates. Growth Projections for Clean Energy Demand in 2040, Relative to 2024 1200% 1000% 800% 600% 400% 200% 0% Lithium Graphite Nickel
Slide 26: Security: China's Control Is a Catalyst
Security: China’s Control Is a Catalyst • China is increasingly weaponizing its dominance: It has placed export controls on rare earths and other critical minerals. In 2010, China restricted rare earths exports and cut off shipments to Japan, causing a 26-fold price increase (January 2009 to August
Slide 27: Governments Are Just Starting to Rebuild Commodity Stockpiles
Governments Are Just Starting to Rebuild Commodity Stockpiles Cumulative Number of Countries with Selected Emergency Response and Energy Security Policies Source: IEA (November 2025). Sprott Webcast - Metals and Miners: Opportunities in the Strategic Resource Race | 27
Slide 28: Copper: A Central Role
Copper: A Central Role • Demand for copper is likely to outstrip supply Copper Supply and Demand Imbalance Likely to Grow going forward. 60 Grid Transport • Copper’s large market size and wide-ranging Energy Storage Power Millions of Metric Tons applications have historically made its price a Others
Slide 29: Understanding Uranium
Understanding Uranium 38% of the total uranium production came from Kazakhstan, which is DIFFERENTIATED PROPERTIES shipped through Russia. • Energy Security Depends on Nuclear Power: Essential for national grids; global policies now Largest Uranium Producing Countries emphasize nuclear energy expans
Slide 30: Rare Earths: A Strategic Focus
Rare Earths: A Strategic Focus Rare earths are a group of 17 critical materials vital for defense, DIFFERENTIATED PROPERTIES electric vehicles, AI data centers, clean energy and high-tech • Rising Demand Across Critical Sectors: Rare applications such as robotics. earths are indispensable in high-gr
Slide 31: Summary and Q&A
Summary and Q&A Ed Coyne Sprott Webcast - Metals and Miners: Opportunities in the Strategic Resource Race | 31
Slide 32: Precious Metals and Critical Materials Allocation Overview
Precious Metals and Critical Materials Allocation Overview • How much exposure one should have to precious metals and critical materials depends on risk tolerance, investment objectives, time horizon, income requirements and overall financial situation. • Benefits of an allocation to precious metals
Slide 33: Sprott Client Services Team
Sprott Client Services Team Sprott Webcast - Metals and Miners: Opportunities in the Strategic Resource Race | 33
Slide 34: Risk Disclosures and Other Important Information
Risk Disclosures and Other Important Information Gold and other precious metals may be referred to as a “store of value,” “safe haven,” “safe asset” and a variety of synonymous terms and phrases. These terms of art commonly used in precious metals investing do not guarantee, explicitly or implicitly