Sprott Gold Miners ETF · AMEX:SGDM

Sprott Gold Miners ETF — Sprott Uranium Miners ETFs — Investor Presentation (September 2024)

49 slides from Sprott Gold Miners ETF's investor presentation, Sep 30, 2024

  1. Slide 1: Sprott Uranium Miners ETFs Investor Presentation

    Sprott Uranium Miners ETFs NYSE Arca: URNM / Nasdaq: URNJ Investor Presentation September 30, 2024 V7_11.12.2024

  2. Slide 2: A Global Leader in Precious Metals and Critical Materials Investments

    A Global Leader in Precious Metals and Critical Materials Investments US$33.4B in AUM1 Sprott (SII) is publicly listed on the NYSE and TSX Exchange Listed Products Managed Equities Private Strategies $27.8 Billion AUM $3.3 Billion AUM $2.4 Billion AUM • Physical Bullion Trusts • Flagship U.S. Gold E

  3. Slide 3: Presentation Outline

    Presentation Outline Content Slides Why Invest in Uranium Miners Now 4 Sprott’s Outlook on Uranium & Uranium Miners 5 Uranium Miners May Be Poised to Take Market Share Within the Energy Sector 6-9 Uranium Miners are Critical to Surging Global Energy Demand and the Energy Transition 10-23 New Uranium

  4. Slide 4: Why Invest in Uranium Miners Now

    Why Invest in Uranium Miners Now 1. Strong Industry Fundamentals are Helping to Recapitalize the Sector • Producers: Rising uranium price is incentivizing miners to restart idle mines • Developers: Renewed investor interest in the sector is helping to advance development • Explorers: Are incentivize

  5. Slide 5: Sprott's Outlook on Uranium & Uranium Miners

    Sprott’s Outlook on Uranium & Uranium Miners* 1. Macro • We believe rising demand and geopolitical instability are supportive of higher uranium prices in 2024 & 2025 • Invasion of Ukraine and military coup in Niger have disrupted the nuclear fuel supply chain with Russia producing 5% of uranium, pro

  6. Slide 6: Uranium Miners May Be Poised to Take Market Share Within the Energy Sector

    Uranium Miners May Be Poised to Take Market Share Within the Energy Sector Sprott Uranium Miners ETFs | 6

  7. Slide 7: Uranium Miners May Be Poised to Take Market Share

    Uranium Miners May Be Poised to Take Market Share • Nuclear energy generates 9% of the world’s electricity and 23% of low carbon emissions electricity1 • Uranium miners are miniscule in market capitalization compared to the largest energy companies, namely oil & gas conglomerates Global Electricity

  8. Slide 8: Uranium Equities Have Outperformed During Uranium Bull Markets

    Uranium Equities Have Outperformed During Uranium Bull Markets Given the demand-supply dynamics for physical uranium, investors may want to consider uranium miners as a way to gain exposure to the sector 1200% 1124.36% 1000% 765.38% 800% 735.84% 795.76% Total Return 600% 363.14% 400% 427.24% 200% 0%

  9. Slide 9: Uranium Miners Have Offered Diversification

    Uranium Miners Have Offered Diversification Uranium Miners have exhibited a low/moderate correlation to major asset classes, posing potential diversification benefits Uranium Miners Correlation* to Other Asset Classes 1.00 Correlation vs. Uranium Miners Index 0.80 0.60 0.44 0.36 0.35 0.40 0.26 0.20

  10. Slide 10: Uranium Miners are Critical to Surging Global Energy Demand and the Energy Transition

    Uranium Miners are Critical to Surging Global Energy Demand and the Energy Transition Sprott Uranium Miners ETFs | 10

  11. Slide 11: Electricity Demand Estimated to Increase by 169% by 2050

    Electricity Demand Estimated to Increase by 169% by 2050 • Evolving energy systems require 90,000 more electricity, which depends 80,194 on critical materials. 80,000 World Electricity Demand (Terawatt-hour – TWh) • Surging Energy Consumption in the East: Driven by the 70,000 urbanization and indust

  12. Slide 12: Economic Growth is Energy Intensive

    Economic Growth is Energy Intensive • As countries develop and Electricity & Income Per Capita2 20,000 become wealthier the need for electricity intensifies. U.S. • Developing countries’ electricity China growth has been substantial 2023 Electricity Consumption Per Capita (KWh) U.K compared to devel

  13. Slide 13: Nuclear: Ideal for Data Centers

    Nuclear: Ideal for Data Centers American Nuclear Society: 3/7/2024; The Washington Post: 9/20/2024; Data Centre Dynamics: 10/3/2024; Trellis: 3/25/2024; U.S. Department of Energy: 10/16/2024; BNN Bloomberg: 10/16/2024; Industry Dive: 10/16/2024; Data Centre Dynamics: 9/10/2024. © 2024 Sprott Asset M

  14. Slide 14: Uranium Is a Critical Material for the Clean Energy Transition

    Uranium Is a Critical Material for the Clean Energy Transition Critical Materials Natural materials that are essential to the generation, transmission and storage of clean energy. © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 14

  15. Slide 15: Nuclear Energy Is Reliable…

    Nuclear Energy Is Reliable… • Nuclear energy has the highest capacity factor1 versus both traditional and alternative energy sources, prompting renewed attention to help solve global energy needs. • Most nuclear power utilities are required to hold at least three years’ worth of uranium supply.2 93.

  16. Slide 16: Efficient…

    Efficient… • Uranium’s high energy density reduces the impact of extraction and transport, facilitating the ability to contain waste. • One nuclear fuel pellet is roughly 10-13 millimeters long and 8-13.5 millimeters in diameter (~ the size of a gummy bear) and weighs ~10 grams.1 Source: American Nu

  17. Slide 17: Clean…

    Clean… Nuclear energy produces the least CO2 equivalent emissions versus other energy forms, helping solidify its place in global decarbonization goals. Nuclear has the Lowest Full-Cycle Carbon Footprint Nuclear 6 CO2 Equivalent Emissions per Gigawatt-Hour Win d 11 Hydro 24 Solar 53 Biomass 154 Natu

  18. Slide 18: Safe…

    Safe… • Uranium is responsible for the lowest mortality rate per terawatt hour (TWh) of energy produced. • Post-reactor radioactivity shows significant reductions after just 10 years. Mortality Rate per TWh of Energy Produced1 Post Reactor Radiation Levels (years)2 Energy Mortality Rate 125 Source (

  19. Slide 19: Nuclear Uses Less Land

    Nuclear Uses Less Land • Nuclear energy uses the least land relative to the amount of energy generated. • If solar and wind were to power the entire U.S., it would need an area the size of Texas. Nuclear has the Lowest Land Footprint: Square Miles to Power 2022 U.S. Electricity Consumption, 4.05 Tri

  20. Slide 20: Most Nations Have Committed to Net-Zero Emissions Targets

    Most Nations Have Committed to Net-Zero Emissions Targets parties, representing 103 countries and 80.7% of global 101 greenhouse gas emissions (GHGs), have communicated a net-zero target. Source: Climatewatchdata.org at https://www.climatewatchdata.org/net-zero-tracker as of 10/4/2024. Included for

  21. Slide 21: Decarbonization Goals Align with Nuclear Growth

    Decarbonization Goals Align with Nuclear Growth Major nations have set aggressive dates for decarbonization. Decarbonization Goals Nuclear Share of Electricity Generation United Kingdom Canada EU 2050 2050 2050 13% Belgium Finland Japan 14% 41% 42% 2050 Spain Germany 6% 20% 1% Russia Switzerland Swe

  22. Slide 22: Investor Sentiment Has Turned Positive

    Investor Sentiment Has Turned Positive After trading flat from 2017-2019, uranium miners and uranium spot prices have accelerated since 2019. 450.00% 400.00% 350.00% 307.18% 300.00% 271.60% 250.00% Total Return 200.00% 150.00% 100.00% 50.00% 0.00% -50.00% -100.00% Jul-20 Jul-22 Jul-24 Feb-18 Feb-20

  23. Slide 23: Shift Back to Nuclear Energy

    Shift Back to Nuclear Energy Sources: U.S. Department of Energy: 6/17/2024; CGTN: 6/12/2024; POWER: 7/29/2024; CNBC: 6/27/2024; Power Technology: 5/30/2024; Semafor: 7/15/2024. © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 23

  24. Slide 24: New Uranium Bull Market Is Underway, Incentivizing Miners and Investors

    New Uranium Bull Market Is Underway, Incentivizing Miners and Investors Sprott Uranium Miners ETFs | 24

  25. Slide 25: Nuclear Reactors in the World Today

    Nuclear Reactors in the World Today • There are now 438 operational reactors globally with 67 under construction and 87 planned. • Newly constructed nuclear reactors demonstrate greater efficiency than older models. Operational Reactors: 438 Reactors Under Construction: 67 Reactors Planned for Const

  26. Slide 26: Global Policy Initiatives Support Nuclear Energy

    Global Policy Initiatives Support Nuclear Energy Global governments are recognizing nuclear power’s vital role as a carbon-free energy source. United States European Union (EU) • US. Department of Energy to spend $3.4B to assist • UK new energy security policy includes 16GW of in transition away fro

  27. Slide 27: COP28: Nuclear Takes Center Stage

    COP28: Nuclear Takes Center Stage Decarbonization, Energy Security, Baseload Energy © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 27

  28. Slide 28: World Uranium Production Is Not Meeting Nuclear Reactor Requirements

    World Uranium Production Is Not Meeting Nuclear Reactor Requirements • World uranium production is currently failing to meet nuclear reactor requirements. • The Cold War resulted in vast overproduction until the early 1990s followed by decades of underproduction thereafter. 80000 70000 60000 Tonnes

  29. Slide 29: Uranium Supply and Demand Imbalance May Likely Grow

    Uranium Supply and Demand Imbalance May Likely Grow • We believe the era of inventory destocking is over. • Demand for uranium may likely outstrip supply, with a nearly 1-billion-pound deficit to 2040. • Net Zero Nuclear, the pledge to triple global nuclear capacity by 2050, would result in a nearly

  30. Slide 30: Largest Uranium-Producing Countries

    Largest Uranium-Producing Countries 39% of the total uranium production in 2023 came from Kazakhstan which is shipped through Russia. Niger Other China 2% 3% Russia 3% 5% Uzbekistan 7% Kazakhstan 39% Australia 9% Namibia 13% Canada 20% Source: UxC LLC as of 12/31/2023. © 2024 Sprott Asset Management

  31. Slide 31: Reshoring of Western Nuclear Fuel Supply Chain Underway

    Reshoring of Western Nuclear Fuel Supply Chain Underway Russia is a key play in nuclear fuel services – conversion & enrichment. © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 31

  32. Slide 32: New Uranium Bull Market is Underway Potentially with Room to Run

    New Uranium Bull Market is Underway Potentially with Room to Run Growing production/demand imbalance and future utility contracting provide primary price support. $140 Bull Market* 1 Bull Market* 2 $135 Current Bull Market* 3 Jan. ’73 to May ’78 Dec. ’00 to June ’07 Nov. ’16 to Sept ’24 $120 +629% |

  33. Slide 33: Investor Sentiment Has Turned Positive

    Investor Sentiment Has Turned Positive In prior cycles, uranium peaked at $US224/lb and $US205/lb in today’s dollar terms. $250 $200 U3O8 Price/Pound USD $150 $100 $50 $0 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 2018 2023 U3O8 Nominal Price/Pound USD U3O8 Real Price/Pound USD Source: TradeT

  34. Slide 34: Scramble to Reopen/Build Uranium Mines

    Scramble to Reopen/Build Uranium Mines • Higher prices are allowing miners to restart and develop projects • Many uranium juniors have not yet sold their production forward and may be well positioned to benefit from further price increases – whether through developing projects themselves or M&A Proj

  35. Slide 35: Sprott Uranium Miners ETFs Overview of Funds

    Sprott Uranium Miners ETFs Overview of Funds Sprott Uranium Miners ETFs | 35

  36. Slide 36: Sprott Uranium Miners ETF (URNM)

    Sprott Uranium Miners ETF (URNM) Sprott Uranium Miners ETF (URNM) Sprott Uranium Miners ETF (NYSE Arca: URNM) is the only1 Investment Objective Sprott Uranium Miners ETF (NYSE Arca: ETF to provide pure-play2 exposure to uranium miners and URNM) seeks to invest at least 80% of its physical uranium es

  37. Slide 37: North Shore Global Uranium Mining Index (URNMX)

    Sprott Uranium Miners ETF (URNM) The North Shore Global Uranium Mining Index (URNMX)* The Sprott Uranium Miners ETF seeks to track the North Shore Global Uranium Mining Index. The index follows a published, rules-based methodology: Holdings Criteria • Must have a company level market capitalization

  38. Slide 38: Sprott Uranium Miners ETF Composition

    Sprott Uranium Miners ETF (URNM) Sprott Uranium Miners ETF Composition Portfolio Characteristics1 Company Domicile Breakdown1 (As of 9/30/2024) (As of 9/30/2024) • Number of Issuers: 38 • Market Cap (millions): $51,739 • Weighted Avg. Company Market Cap (millions): $5,317 • Market Cap Breakdown o La

  39. Slide 39: Performance History

    Sprott Uranium Miners ETF (URNM) Performance History Performance: Average Annual Total Returns* (%) QUARTER END AS OF 9/30/2024 1 MO 3 MO YTD 1 YR 3 YR S.I.1 Sprott Uranium Miners ETF (Net Asset Value) 11.20 -6.90 -3.74 1.05 10.31 34.57 Sprott Uranium Miners ETF (Market Price)2 9.51 -7.04 -4.98 0.86

  40. Slide 40: Sprott Junior Uranium Miners ETF (URNJ)

    Sprott Junior Uranium Miners ETF (URNJ) Sprott Junior Uranium Miners ETF (URNJ) Sprott Junior Uranium Miners ETF (Nasdaq: URNJ) is the Investment Objective only1 ETF to provide pure-play2 exposure to small,3 exploration- Sprott Junior Uranium Miners ETF (Nasdaq: URNJ) seeks to provide investment and

  41. Slide 41: Sprott Junior Uranium Miners ETF Composition

    Sprott Junior Uranium Miners ETF (URNJ) Sprott Junior Uranium Miners ETF Composition Portfolio Characteristics1 Company Domicile Breakdown1 (As of 9/30/2024) (As of 9/30/2024) • Number of Issuers: 33 • Market Cap (millions): $19,788 • Weighted Avg. Company Market Cap (millions): $1,561 • Market Cap

  42. Slide 42: Performance History

    Sprott Junior Uranium Miners ETF (URNJ) Performance History Performance: Average Annual Total Returns* (%) QUARTER END AS OF 9/30/2024 1 MO 3 MO YTD 1 YR S.I.1 Sprott Junior Uranium Miners ETF (Net Asset Value) 14.93 -6.90 -3.55 -1.31 9.23 2 Sprott Junior Uranium Miners ETF (Market Price) 12.46 -6.9

  43. Slide 43: Sprott Client Services Team

    Sprott Client Services Team © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 43

  44. Slide 44: Distributor Contact Details

    Distributor Contact Details ALPS Distributors, Inc. 1290 Broadway, Suite 1000 Denver, CO 80203 © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 44

  45. Slide 45: Risk Disclosures and Other Important Information

    Risk Disclosures and Other Important Information Sprott Uranium Miners ETF (NYSE Arca: URNM) This material must be preceded or accompanied by a prospectus. An investor should consider the investment objectives, risks, charges, and expenses carefully before investing. To obtain a Sprott Uranium Miner

  46. Slide 46: Risk Disclosures and Other Important Information

    Risk Disclosures and Other Important Information Sprott Junior Uranium Miners ETF (Nasdaq: URNJ) This material must be preceded or accompanied by a prospectus. An investor should consider the investment objectives, risks, charges, and expenses carefully before investing. To obtain a Sprott Junior Ur

  47. Slide 47: Appendix A

    Appendix A Sprott Uranium Miners ETFs | 47

  48. Slide 48: Uranium Life Cycle

    Uranium Life Cycle The holdings of the Sprott Uranium Miners ETF will generally be involved in the exploration, mining, refining and storage of uranium. © 2024 Sprott Asset Management. All rights reserved. Telephone: 888.622.1813 Sprott Uranium Miners ETFs | 48

  49. Slide 49: Total Spent Nuclear Waste

    Total Spent Nuclear Waste • If all the nuclear waste from commercial reactors, a 63-year operating history, was stored in a cube it would measure just 96 feet per side. • Nuclear waste produces the smallest amount generated by any source of energy when considered on an “all-in” basis. Height (feet)

Sprott Uranium Miners ETFs — Investor Presentation (September 2024) on 6ix