Sprott (SII) investor relations material

Executive summary

• AUM reached $40B as of June 30, 2025, up 14% sequentially and 27% year-over-year, driven by strong net sales, market appreciation, and investor demand for metals.

• Physical trusts and managed equity strategies performed well, with new ETF launches achieving rapid AUM growth and scale.

• YTD AUM growth was $8.5B, with $1.6B in net sales in the first half of 2025.

• Metals markets experienced scarcity, pushing gold, silver, and platinum prices to multi-year highs.

• Continued expansion of exchange-listed product offerings positions the business to benefit from macro trends.

Financial highlights

• Net income for Q2 was $13.5M ($0.52/share), up 1% year-over-year; YTD net income was $25.5M, up 2%.

• Adjusted EBITDA for Q2 was $25.5M, up 14% year-over-year; YTD Adjusted EBITDA was $47.4M, up 12%.

• Q2 total revenues were $65.2M, up from $48.0M in Q2 2024; six-month revenues were $108.5M, up from $89.5M.

• Carried interest and performance fees contributed $14.8M in Q2, a significant increase from $0.7M in Q2 2024.

• Cash and liquidity profile remains strong, with $75.1M in cash and no outstanding debt as of June 30, 2025.

Outlook and guidance

• Management expects continued market volatility and a constructive environment for precious metals and critical materials.

• Plans to further expand exchange-listed product offerings, with at least one additional ETF launch before year-end.

• Well positioned to capitalize on macro trends and ongoing investor demand for metals exposure.

• Utilities are expected to return to the uranium market as policy clarity improves, potentially boosting demand.

• Forward-looking statements highlight potential for further AUM growth and sustained financial performance, subject to market and regulatory conditions.