Sprott (SII) investor relations material

Executive summary

• Assets under management (AUM) reached $59.6 billion at year-end 2025, up 89% year-over-year and 21% from Q3, driven by market appreciation and $3.9 billion in net sales, mainly in precious metals and critical materials.

• AUM further increased to $70.1 billion by mid-February 2026, reflecting continued inflows and market gains.

• ETF business and managed equity/private strategies delivered excellent performance, with ETF AUM growing from $0.4 billion to $4.6 billion and managed equities AUM nearly doubling.

• Precious metals outperformed traditional asset classes, and critical materials strategies saw strong performance due to investor demand and geopolitical factors.

• Net sales for 2025 totaled $3.9 billion, with strong managed equities and metals performance.

Financial highlights

• Net income for Q4 2025 was $28.7 million ($1.11/share), up from $11.7 million ($0.46/share) year-over-year; full-year net income reached $67.3 million ($2.61/share), up 37%.

• Adjusted EBITDA for Q4 was $42.1 million ($1.63/share), up 88% year-over-year; full-year Adjusted EBITDA was $121.4 million ($4.71/share), up 43%.

• Q4 2025 total revenues were $111.4 million; full-year revenues were $285.1 million.

• Carried interest and performance fees for 2025 were $54.7 million, up from $7.3 million in 2024.

• Dividend raised by 33% to $0.40 per share in Q3 2025, with a quarterly dividend declared in February 2026.

Outlook and guidance

• Expect continued market volatility in 2026, with technical corrections seen as opportunities for new investors.

• Anticipate increased government involvement in critical materials markets, driving further investor interest.

• Plans to announce at least one new ETF in the first half of 2026 and expand offerings in Europe.