Sprott Inc. · TSX:SII
Sprott — Investor Presentation (May 2025)
26 slides from Sprott's investor presentation, May 2025
Slide 1: Investor Presentation
Investor Presentation May 2025 NYSE/TSX:SII
Slide 2: Forward-looking Statements
Forward-looking Statements Certain statements in this presentation contain forward-looking information and forward-looking statements (collectively referred to herein as the "Forward Looking Statements") within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words
Slide 3: Corporate overview
Corporate overview As at March 31, 2025 History: Founded 1981 Locations: Toronto, New York, Connecticut, Carlsbad, Vancouver With $35.1B in AUM, Employees: 132 Sprott is a global leader in precious metals and AUM: $35.1B critical materials investments Exchange Listings: NYSE/TSX:SII Shares Outstandi
Slide 4: Purpose and values
Purpose and values We aspire to be the leading global asset manager focused on precious metals and critical materials As contrarian investors with a long-term investment horizon, we remain both patient and persistent. We will continue to innovate to bring our clients the best possible investment pro
Slide 5: Who we are
Who we are We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists and create compelling value for our shareholders and clients • Simple, highly scalable business model with industry leading margins (59%1) • Resilient revenue generation fr
Slide 6: Track record of growth
Track record of growth Sprott has grown its AUM profitably through a combination of acquisitions, organic growth and market value appreciation In billions $ AUM and margin history (1) (2) (1) Excludes our non-core diversified assets sold in 2017 Sprott Inc. | 6 (2) Net income margin was 19% in 2016
Slide 7: Investment strategies
Investment strategies Sprott
Slide 8: Exchange listed products
Exchange listed products Sprott manages approximately $29.5 billion in our exchange listed products strategies Physical Trusts AUM (1) Sprott Physical Gold Trust $10.7B Sprott Physical Silver Trust $6.2B Sprott Physical Gold and Silver Trust $5.8B Sprott Physical Uranium Trust $4.3B Sprott Physical
Slide 9: Exchange listed products: physical trusts
Exchange listed products: physical trusts • 6 exchange listed physical trusts • 4 dual listed on NYSE/TSX • 2 TSX listed • $27.3B AUM • Highly-scalable global platform Approximately 250,000 clients Sticky AUM relative to open-ended ETFs Well-positioned to add complementary strategies Valuable revenu
Slide 10: Exchange Listed Products: Physical Trusts AUM
Exchange Listed Products: Physical Trusts • Physical Trusts AUM increased by $3.3B or 14% during the quarter • YTD the Trusts have gained $4.5B or 19% in AUM to May 2, 2025 Physical Trust AUM (in billions) $28.5 $27.3 $25.1 $24.0 $22.8 $21.3 $20.7 $18.3 $17.9 $17.7 $17.4 $16.8 $15.9 $14.9 PHYS PSLV
Slide 11: Exchange Listed Products: Physical Trust Net Flows
Exchange Listed Products: Physical Trusts • Sales accelerated in Q1, with net flows of $407 MM • YTD net sales $1.2B of which $1.1B is PHYS o Recorded two largest ATM days ever in April Physical Trust Net Flows (in millions) $1,338 $794 $617 $407 $478 $429 $128 $210 $125 $113 $149 $(2) $(49) $(216)
Slide 12: ETF Product Suite: AUM
ETF Product Suite: AUM • ETF suite AUM currently stands at $2.5B, down 6% Q1 but up 11% QTD • YTD most funds have negative performance, except precious metal miners ETF AUM (in billions) $2.8 $2.7 $2.6 $2.5 $2.5 $2.4 $2.2 $2.0 $1.4 $1.3 $1.2 $1.2 $1.1 $0.4 SGDJ SGDM SETMETF SETMUCITS LITP URNM URNMU
Slide 13: ETF Product Suite: Flows
ETF Product Suite: Flows • Solid net flows despite mixed performance • Solid contributions from multiple existing and recently-launched funds ETF Net Flows (in millions) $425 $203 $194 $40 $135 $104 $45 $17 $48 $41 $16 $14 $24 $11 SGDJ SGDM SETM SETM UCITS LITP URNM URNM UCITS SESG URNJ COPJ NIKL CP
Slide 14: Managed equities
Managed equities Sprott’s gold team is one of the most experienced in the sector • In-house technical team provides additional research and due diligence capabilities • Sprott’s depth and breadth of sector-specific expertise allows us to: o Employ a disciplined, team-based approach to portfolio cons
Slide 15: New Product Development
New Product Development Continuing to expand exchange-listed product offerings with new product launches • During 2024, we launched 3 new critical materials strategies: o Sprott Junior Uranium Miners UCITS ETF o Sprott Copper Miners ETF o Sprott Physical Copper Trust • YTD 2025, we have launched 2 p
Slide 16: Private strategies
Private strategies Focused on strategies holding illiquid assets in order to carry out asset optimization and/or develop structured seniority Lending strategy Streaming strategy 88 investments (1) 35 investments ~$3.8B in originations (1) $995MM capital called to date (1) Since 2010 Sprott Inc. | 16
Slide 17: Financial overview
Financial overview Sprott
Slide 18: Strategically diversified yet aligned AUM
Strategically diversified yet aligned AUM Sprott’s total AUM as at March 31, 2025 was $35.1 billion (1) Segment mix Product mix (2) In billions $ (1) As at May 2, 2025, AUM was $36.5 billion, up 4% from $35.1 billion on March 31, 2025. Our performance subsequent to quarter-end was the result of $0.8
Slide 19: Our historical earnings results
Our historical earnings results We have highly profitable and efficient operations In millions $ Net income (IFRS) Adjusted EBITDA (1) Adjusted EBITDA margin (1)(2) (Key non-IFRS measure) (Key non-IFRS measure) (1) Effective Q1 2025, we changed the name of one of our key non-IFRS measures: “adjusted
Slide 20: Our recent earnings results
Our recent earnings results In millions $ Net income (IFRS) Adjusted EBITDA (Key non-IFRS measure) Sprott Inc. | 20
Slide 21: Treasury and balance sheet management
Treasury and balance sheet management Balance sheet liquidity • We had $55.9 million of cash and cash equivalents (December 31, 2024 - $46.8 million). In addition, we had $69.4 million of co-investments (December 31, 2024 - $72.8 million) of which $27.2 million (December 31, 2024 - $23.8 million) ca
Slide 22: Historical annual shareholder return
Historical annual shareholder return +134% +72% +69% Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, 2020 2021 2022 2023 2024 Sprott Inc. 128.29 202.97 164.39 168.82 233.65 S&P/TSX composite index 105.61 132.17 124.57 139.3 169.46 NYSE composite index (NYA) 105.36 126.11 122.49 136.21 172.10 Sprott Inc. | 2
Slide 23: Appendix
Appendix Sprott
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 3 months ended In millions $ Q1 Q1 2025 2024 Net income for the period 12.0 11.6 (1) 28% 28% Net income margin Adjustments: Interest expense 0.3 0.8 Provision for income taxes 3.8 3.8 Depreciation and amortization 0.5 0.6 EBITDA(2) 16.6 16.7 Adjustments: (Gain) loss on
Slide 25: 5-yr adjusted EBITDA reconciliation
5-yr adjusted EBITDA reconciliation In millions $ 2024 2023 2022 2021 2020 Net income for the period 49.3 41.8 17.6 33.2 27.0 Net income margin 28% 25% 12% 20% 22% Adjustments: Interest expense 3.1 4.1 2.9 1.2 1.2 Provision for income taxes 19.7 8.5 7.4 12.0 7.7 Depreciation and amortization 2.2 2.8
Slide 26: Contact information
Contact information Glen Williams Senior Managing Partner Investor and Institutional Client Relations T 416 943 4394 gwilliams@sprott.com Sprott Inc. | 26