Sprott Inc. · TSX:SII
Sprott — Investor Presentation (November 2025)
26 slides from Sprott's investor presentation, November 2025
Slide 1: Investor Presentation
Investor Presentation November 2025 NYSE/TSX:SII
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation or the accompanying oral remarks 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 l
Slide 3: Corporate Overview
Corporate Overview As at September 30, 2025 History: Founded 1981 Locations: Toronto, New York, Connecticut, Carlsbad, Vancouver With $49.1B in AUM, Employees: 130 Sprott is a global leader in precious metals and AUM: $49.1B critical materials investments Exchange Listings: NYSE/TSX:SII Shares Outst
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 (62%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 $41.8 billion in our exchange listed products strategies Physical Trusts AUM (1) Sprott Physical Gold Trust $14.1B Sprott Physical Silver Trust $9.3B Sprott Physical Gold and Silver Trust $7.3B Sprott Physical Uranium Trust $6B Sprott Physical Pl
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 • $37.4B 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: Physical Trusts: AUM
Physical Trusts: AUM • Physical Trusts AUM increased by $6.5B or 21% during the third quarter • YTD, the Physical Trusts have gained $15.4B or 64% in AUM to October 31 Physical Trusts AUM (in billions) Note: YTD AUM as of 10/31/25 Sprott Inc. | 10
Slide 11: Physical Trusts: Flows
Physical Trusts: Flows • Strong sales have continued in the third quarter with net flows of $907MM; MTD $793MM • YTD $3.3B of flows with contributions from PSLV, SPUT, PHYS, and SPPP Physical Trusts Net Flows (in millions) Note: YTD and MTD flows as of 10/31/25 Sprott Inc. | 11
Slide 12: ETF Product Suite: AUM
ETF Product Suite: AUM • AUM up sharply in 2025, 83% • Most ETFs are now beyond breakeven levels ETF AUM (in billions) Sprott Inc. | 12
Slide 13: ETF Product Suite: Flows
ETF Product Suite: Flows • Modest net sales during the quarter concentrated in recently launched precious metals ETFs • Uranium equity ETFs continuing to experience redemptions ETF Net Flows (in millions) Sprott Inc. | 13
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 • YTD 2025, we have launched 3 ETFs: o Sprott Silver Miners & Physical Silver ETF o Sprott Active Gold & Silver Miners ETF o Sprott Active Metal and Miners ETF • During 2024, we launched 3 new cr
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 September 30, 2025 was $49.1 billion (1) By segment By product (2) In billions $ (3) (1) As at October 31, 2025, AUM was $51 billion, up 4% from $49.1 billion as at September 30, 2025 (2) Includes direct commodity exposure and indire
Slide 19: Historical Earnings Results
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 bas
Slide 20: Recent Earnings Results
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 $79.9 million of cash and cash equivalents (December 31, 2024 - $46.8 million). In addition, we had $79.2 million of co-investments (December 31, 2024 - $72.8 million) of which $36.6 million (December 31, 2024 - $23.8 million) ca
Slide 22: Historical Annual Shareholder Return
Historical Annual Shareholder Return +354% +110% +91% Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Sep 30, 2020 2021 2022 2023 2024 2025 Sprott Inc. 128.29 202.97 164.39 168.82 233.65 453.84 S&P/TSX composite index 105.61 132.17 124.57 139.3 169.46 210.06 NYSE composite index (NYA) 105.36 126.11 122.49 1
Slide 23: Appendix
Appendix Sprott
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 3 months ended 9 months ended In millions $ Q3 Q3 Q3 Q3 2025 2024 2025 2024 Net income for the period 13.2 12.7 38.6 37.6 Net income margin(1) 20% 27% 22% 28% Adjustments: Interest expense 0.3 0.9 0.8 2.5 Provision for income taxes 4.1 5.7 13.3 14.9 Depreciation and am
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 (1) 28% 28% 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
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