Sprott (SII) investor relations material

Executive summary

• Assets under management (AUM) reached $59.6 billion at year-end 2025, up $28.1 billion year-over-year and 89%, with further growth to $70.1 billion by mid-February 2026, driven by strong ETF, physical trust, and managed equity inflows.

• Net sales for 2025 totaled $3.9 billion, with significant contributions from ETF business, managed equities, and physical trusts.

• Precious metals and critical materials strategies outperformed traditional asset classes, supported by investor demand and geopolitical factors.

Financial highlights

• Q4 2025 net income was $28.7 million ($1.11/share), up from $11.7 million in Q4 2024; 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%.

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

• Dividend was raised by 33% to $0.40 per share in Q4 2025, reflecting improved earnings and liquidity.

Outlook and guidance

• Management expects continued market volatility in 2026, viewing technical corrections as opportunities for new investors.

• Anticipates increased government involvement in critical materials and further investor interest.

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