Slide 1: 2026 Second Quarter Results
Contrarian. 2026 Second Quarter Results Innovative. August 5th, 2026 Aligned. NYSE/TSX:SII
Slide 2: Forward-Looking Statement
Forward-Looking Statement 2 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
Slide 3: Speakers
Speakers 3 Sprott Inc. Whitney George CEO, Sprott Inc. Kevin Hibbert CFO and Co-COO, Sprott Inc. John Ciampaglia CEO, Sprott Asset Management
Slide 4: Q2 2026 and YTD Review
4 Q2 2026 and YTD Review ▪ AUM decreased by $9.5B during Q2 to $55.6B o Correction in gold and silver prices and $9.5B $55.6B redemptions in physical trusts contributed to decrease AUM Decrease Q2 AUM as of June 30 o Subsequent to quarter-end AUM was $55.3B as of July 31, 2026 ▪ $0.4B in net redempt
Slide 5: YTD AUM Mix
5 YTD AUM Mix In billions $ (1) By segment By product (2) (1) Includes direct commodity exposure and indirect exposure from equities (2) Consists of (1) high net worth managed accounts holding U.S equities and (2) U.S value strategies NOTE: As at July 31, 2026, AUM was $55.3 billion, down slightly f
Slide 6: Earnings Results – 3 and 6 Months Ended
6 Earnings Results – 3 and 6 Months Ended In millions $ Net income (IFRS) Adjusted EBITDA (Key non-IFRS measure)
Slide 7: Treasury and Balance Sheet Management
7 Treasury and Balance Sheet Management Balance sheet liquidity • As at June 30, 2026, the Company had $189.8 million (December 31, 2025 - $123.4 million) of cash and cash equivalents. In addition, the Company had $59.5 million of co-investments (December 31, 2025 - $76.7 million) of which $27.2 mil
Slide 8: Physical Trusts: AUM (in Billions)
8 Physical Trusts: AUM (in Billions) ▪ Physical Trusts AUM decreased by $8.2B or 16% during the quarter on precious metals selloff $50.7 $47.2 $42.5 $42.6 $37.4 $30.8 $27.3 $24.0 $25.1 $22.8 $20.7 $21.3 $17.9 $17.7 $18.3 $17.4 $16.8 $15.9 $14.9 PHYS PSLV SPPP SPUT CEF COP Note: QTD AUM as of 7/31/26
Slide 9: Physical Trusts: Net Flows (in Millions)
9 Physical Trusts: Net Flows (in Millions) ▪ Net redemptions of $529 million in Q2 as market selloff weighed on investor sentiment ▪ Precious metals trusts reported net redemptions while SPUT and COP delivered positive flows $1,338 $1,240 $862 $1,069 $907 $617 $407 $478 $429 $128 $210 $149 $125 $113
Slide 10: ETF Product Suite: AUM (in Billions)
10 ETF Product Suite: AUM (in Billions) ▪ AUM declined 10% in Q2 but remains higher YTD ▪ Critical materials ETFs outperformed precious metals strategies Uranium Miners Copper Miners Silver Miners Rare Earth Miners $6.0 URNM COPP SLVR REXC $5.4 URNJ COPJ SLVR UCITS URNM UCITS CPPR UCITS $5.1 URNJ UC
Slide 11: ETF Product Suite: Net Flows (in Millions)
11 ETF Product Suite: Net Flows (in Millions) ▪ Flows were resilient in Q2 with $228 million in net flows, despite challenging market conditions Uranium Miners Copper Miners Silver Miners Rare Earth Miners $1,136 URNM COPP SLVR REXC URNJ COPJ SLVR UCITS URNM UCITS CPPR UCITS URNJ UCITS Gold Miners S
Slide 12: Sprott ETF Product Update: Trading Days to $50 MM
12 Sprott ETF Product Update Sprott Rare Earths ex China ETF (REXC) ▪ REXC hit $50MM in just 32 trading days, making it our fastest-scaling new ETF launch to date ▪ Sprott ETFs have generally been scaling to breakeven AUM levels quicker with each launch ▪ Leveraging our captive client base and relat
Slide 13: Managed Equities: AUM (in Billions)
13 Managed Equities: AUM (in Billions) ▪ AUM contracted during the quarter amidst a risk-off market sentiment $6.3 $5.7 $5.6 $5.2 $3.9 $3.4 $3.6 $3.3 $2.6 $2.9 $3.0 $2.9 $3.0 $2.7 $2.5 $2.5 $2.4 $2.2 Mutual Funds Institutional Managed Accounts Private Managed Accounts Sprott USA Bullion Funds Active
Slide 14: Managed Equities: Net Flows (in Millions)
14 Managed Equities: Net Flows (in Millions) ▪ Modest net outflows $135 $63 $7 $9 $5 $(2) $(6) $(38) $(29) $(47) $(36) $(55) $(69) $(70) $(55) $(61) $(106) $(108) Mutual Funds Institutional Managed Accounts Private Managed Accounts Sprott USA Bullion Funds Active ETPs
Slide 15: Private Strategies
Private Strategies 15 ▪ Private strategies AUM was $2B as of June 30, 2026 o We are committed to growing Private Strategies segment o Evaluating new strategies and extensions of existing offerings ▪ Continuing to assess new investment opportunities for LF-III ▪ LF-IV Fundraising began in Q2
Slide 16: Expanding margins and disciplined capital structure
16 Expanding margins and disciplined capital structure We’ve created operating leverage… …without financial leverage AUM in billions of $ In millions $ 71% 250 53% 200 150 100 50 0 (2) Cash Co-investments Debt (1) (1) Net income margin was 20% in 2021 and 28% in 2026 (2) In prior years, co-investmen
Slide 17: Summary
Summary 17 ▪ Despite pullback in precious metals prices, average AUM in the quarter was 70% higher than the quarter ended June 30, 2025, demonstrating resilience of business model ▪ Current geopolitical and trade disruptions are only strengthening the case for both precious metals and critical mater
Slide 18: Supplemental Financial Information
18 Supplemental Financial Information
Slide 19: Revenues
19 Revenues 3 months ended 6 months ended In millions $ Q2 Q2 Q2 Q2 2026 2025 2026 2025 Management fees 76.4 44.4 157.9 84.4 Fund expenses (4.1) (2.7) (7.6) (5.2) Direct payouts (3.0) (1.7) (6.0) (3.3) Carried interest and performance fees - 14.8 52.0 14.8 Carried interest and performance fee payout
Slide 20: Expenses
20 Expenses 3 months ended 6 months ended In millions $ Q2 Q2 Q2 Q2 2026 2025 2026 2025 Compensation 24.2 33.8 110.2 53.4 Direct payouts (3.0) (1.7) (6.0) (3.3) Carried interest and performance fee payouts - internal - (1.3) (31.1) (1.3) Commission expense - internal (0.1) (0.2) (0.1) (0.2) Severanc
Slide 21: Adjusted EBITDA Reconciliation
21 Adjusted EBITDA Reconciliation 3 months ended 6 months ended In millions $ Q2 Q2 Q2 Q2 2026 2025 2026 2025 Net income for the period 34.3 13.5 63.5 25.5 Net income margin(1) 43% 21% 28% 23% Adjustments: Interest expense 0.3 0.3 0.6 0.6 Provision for income taxes 12.0 5.4 24.7 9.2 Depreciation and