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Sprott Contrarian . Innovative . Aligned . 2026 Second Quarter Results August 5th , 2026 NYSE / TSX : SII
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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 laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this presentation and the accompanying oral remarks contain Forward-Looking Statements pertaining to: (i) our positioning will benefit from a highly constructive operating environment for precious metals, critical materials and their related equities; (ii) the continued expansion of our exchange listed product offerings and fundraising for our new lending fund; and (iii) the declaration, payment and designation of dividends. Although Sprott Inc. (the “Company”) believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including, without limitation: (i) the impact of increasing competition in each business in which the Company operates will not be material; (ii) quality management will be available; (iii) the effects of regulation and tax laws of governmental agencies will be consistent with the current environment; (iv) the impact of public health outbreaks; and (v) those assumptions disclosed under the heading "Critical Accounting Estimates and Significant Judgments" in the Company’s MD&A for the period ended June 30, 2026. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) difficult market conditions; (ii) poor investment performance; (iii) failure to continue to retain and attract quality staff; (iv) employee errors or misconduct resulting in regulatory sanctions or reputational harm; (v) performance fee fluctuations; (vi) a business segment or another counterparty failing to pay its financial obligation; (vii) failure of the Company to meet its demand for cash or fund obligations as they come due; (viii) changes in the investment management industry; (ix) failure to implement effective information security policies, procedures and capabilities; (x) lack of investment opportunities; (xi) risks related to regulatory compliance; (xii) failure to manage risks appropriately; (xiii) failure to deal appropriately with conflicts of interest; (xiv) competitive pressures; (xv) corporate growth which may be difficult to sustain and may place significant demands on existing administrative, operational and financial resources; (xvi) failure to comply with privacy laws; (xvii) failure to successfully implement succession planning; (xviii) foreign exchange risk relating to the relative value of the U.S. dollar; (xix) litigation risk; (xx) failure to develop effective business resiliency plans; (xxi) failure to obtain or maintain sufficient insurance coverage on favorable economic terms; (xxii) historical financial information being not necessarily indicative of future performance; (xxiii) the market price of common shares of the Company may fluctuate widely and rapidly; (xxiv) risks relating to the Company’s investment products; (xxv) risks relating to the Company's proprietary investments; (xxvi) risks relating to the Company's lending business; (xxvii) those risks described under the heading "Risk Factors" in the Company’s annual information form dated February 18, 2026; and (xxviii) those risks described under the headings "Managing financial risks" and "Managing non-financial risks" in the Company’s MD&A for the period ended June 30, 2026. In addition, the payment of dividends is not guaranteed and the amount and timing of any dividends payable by the Company will be at the discretion of the Board of Directors of the Company and will be established on the basis of the Company’s earnings, the satisfaction of solvency tests imposed by applicable corporate law for the declaration and payment of dividends, and other relevant factors. The Forward- Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and the Company does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws. See “Key Performance Indicators and non-IFRS and other financial measures in the Company’s MD&A for a description of the Company’s key non-IFRS measures. For a reconciliation of “EBITDA”, “adjusted EBITDA” and “adjusted EBITDA margin” see slide 21. Forward-Looking Statement
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3 Speakers Sprott Inc. Whitney George CEO, Sprott Inc. Kevin Hibbert CFO and Co-COO, Sprott Inc. John Ciampaglia CEO, Sprott Asset Management
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4 ▪ AUM decreased by $9.5B during Q2 to $55.6B o Correction in gold and silver prices and redemptions in physical trusts contributed to decrease o Subsequent to quarter-end AUM was $55.3B as of July 31, 2026 ▪ $0.4B in net redemptions o Critical materials ETFs were a bright spot, delivering net sales despite challenging environment Q2 2026 and YTD Review ETF Suite AUM as of June 30 $5.4B Q2 Adjusted EBITDA $50.8MM Net Sales Q2 ($0.4B) Net Sales YTD as of July 31 $1.3B AUM Decrease Q2 $9.5B AUM as of June 30 $55.6B
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5 YTD AUM Mix (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 from $55.6 billion as at June 30, 2026 In billions $ By segment By product (1) (2)
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6 Earnings Results – 3 and 6 Months Ended In millions $ Net income (IFRS) Adjusted EBITDA (Key non-IFRS measure)
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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 million (December 31, 2025 - $35.5 million) can be monetized in less than 90 days (liquid co-investments) Loan facility • We continue to have no outstanding debt NCIB activity • During the quarter, we bought back 49,903 shares at an average price of $120.23/share and total proceeds of $6 million. For the six months ended June 30, 2026, we bought back 53,580 shares at an average price of $121.31/share and total proceeds of $6.5 million
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8 ▪ Physical Trusts AUM decreased by $8.2B or 16% during the quarter on precious metals selloff Physical Trusts: AUM (in Billions) Note: QTD AUM as of 7/31/26 $17.4 $15.9 $14.9 $16.8 $17.9 $17.7 $18.3 $20.7 $21.3 $22.8 $25.1 $24.0 $27.3 $30.8 $37.4 $47.2 $50.7 $42.5 $42.6 PHYS PSLV SPPP SPUT CEF COP
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9 ▪ 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 Physical Trusts: Net Flows (in Millions) Note: QTD Flows as of 7/31/26 $1,338 $478 $113 $128 $210 $149 $(2) $(49) $(216) $429 $617 $125 $407 $1,240 $907 $1,069 $862 $(529) $0 PHYS PSLV SPPP SPUT CEF COP
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10 $0.4 $1.1 $1.2 $1.2 $1.3 $1.4 $2.0 $2.5 $2.6 $2.8 $2.7 $2.4 $2.2 $3.2 $4.4 $4.6 $6.0 $5.4 $5.1 ▪ AUM declined 10% in Q2 but remains higher YTD ▪ Critical materials ETFs outperformed precious metals strategies ETF Product Suite: AUM (in Billions) NIKL LITP Battery Metals URNM URNJ URNM UCITS URNJ UCITS SPUT ETC Uranium Miners COPP COPJ CPPR UCITS Copper Miners SETM SETM UCITS Critical Minerals SLVR SLVR UCITS Silver Miners SGDM SGDJ Gold Miners Note: QTD AUM as of 7/31/26 REXC Rare Earth Miners
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11 $16 $11 $48 $14 $104 $24 $203 $425 $40 $194 $45 $18 $135 $75 $85 $323 $1,136 $228 $(13) ▪ Flows were resilient in Q2 with $228 million in net flows, despite challenging market conditions ETF Product Suite: Net Flows (in Millions) Note: QTD Flows as of 7/31/26 NIKL LITP Battery Metals URNM URNJ URNM UCITS URNJ UCITS SPUT ETC Uranium Miners COPP COPJ CPPR UCITS Copper Miners SETM SETM UCITS Critical Minerals REXC Rare Earth Miners SLVR SLVR UCITS Silver Miners SGDM SGDJ Gold Miners
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12 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 relationships to accelerate trial and adoption Sprott ETF Product Update REXCSLVR METLGBUG URNJ COPP SETM NIKL COPJ LITP 0 100 200 300 400 500 600 700 800 Aug-22 Mar-23 Oct-23 Apr-24 Nov-24 May-25 Dec-25 Jun-26 Trading Days to $50 MM Inception Date Sprott ETFs Are Scaling Faster
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13 $3.6 $2.4 $2.2 $2.5 $3.0 $2.7 $2.5 $2.6 $2.9 $3.0 $3.3 $2.9 $3.4 $3.9 $5.2 $5.7 $6.3 $5.6 Mutual Funds Institutional Managed Accounts Private Managed Accounts Sprott USA Bullion Funds Active ETPs ▪ AUM contracted during the quarter amidst a risk-off market sentiment Managed Equities: AUM (in Billions)
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14 ▪ Modest net outflows Managed Equities: Net Flows (in Millions) $9 $5 $(38) $(6) $(2) $135 $(29) $(47) $(70) $(36) $(55) $(55) $7 $(61) $63 $(108) $(106) $(69) Mutual Funds Institutional Managed Accounts Private Managed Accounts Sprott USA Bullion Funds Active ETPs
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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 Private Strategies
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16 0 50 100 150 200 250 Cash Co-investments Debt Expanding margins and disciplined capital structure We’ve created operating leverage… …without financial leverage AUM in billions of $ In millions $ 53% 71% (1) Net income margin was 20% in 2021 and 28% in 2026 (2) In prior years, co-investments were included under loans receivable and proprietary investments on our balance sheet (2) (1)
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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 materials investments o Structural elements of precious metals bull market are intact despite recent volatility o Security of supply is driving investment in critical materials ▪ Continuing to invest in our sales and marketing teams to support our growing client base ▪ Expanding technology capabilities to address new productivity opportunities ▪ Created a team to monitor and better understand digital offerings Summary
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18 Supplemental Financial Information
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19 Revenues (1) Net fees, net commissions and total net revenues are non -IFRS measures. See slide 2 (2) Prior period net revenues include fund expense recoveries: 3 months ended Q2 ‘25 - $0.3 and 6 months ended Q2 ‘25 - $0.6 Q2 2026 Q2 2025 Q2 2026 Q2 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 payouts - internal - (1.3) (31.1) (1.3) Carried interest and performance fee payouts - external - - (2.2) - Net fees (1) 69.3 53.5 163.0 89.5 Commissions 1.5 1.7 7.3 2.0 Commission expense - internal (0.1) (0.2) (0.1) (0.2) Commission expense - external (0.7) (0.8) (3.4) (0.8) Net commissions (1) 0.7 0.8 3.7 1.0 Finance income 1.6 1.2 4.1 2.6 Co-investment income 0.1 0.3 0.3 0.4 Less: Carried Interest and performance fees (net of payouts) - (13.5) (18.7) (13.5) Total net revenues (1)(2) 71.8 42.3 152.5 80.0 Add: Carried Interest and performance fees - 14.8 52.0 14.8 Gain (loss) on investments 0.6 2.7 1.5 4.2 Fund expenses 4.1 2.7 7.6 5.2 Direct payouts 3.0 1.7 6.0 3.3 Commission expense - internal/external 0.7 1.0 3.6 1.1 Total revenues 80.2 65.2 223.2 108.5 In millions $ 3 months ended 6 months ended
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20 Expenses (1) Net compensation is a non-IFRS measure. See slide 2 (2) The decrease in the quarter and the increase on a year-to-date basis was primarily due to the Company's "cash -settled" stock-based compensation plan which requires mark-to-market accounting under IFRS 2. This led to stock price changes that were driven by NYSE:SII being down 21% in the quar ter and up 15% on a year-to-date basis (3) Together, fund expenses, carried interest and performance fee payouts - external and commission expense - external are included in "Fund expenses" on the income statement Q2 2026 Q2 2025 Q2 2026 Q2 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) Severance, new hire accruals and other (0.2) - (0.3) (0.1) Impact of stock price changes and graded-vesting amortization on cash-settled equity plans (2) 1.8 (12.8) (26.2) (13.2) Net compensation (1) 22.7 17.8 46.4 35.3 Net compensation ratio 32% 43% 30% 45% 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 Severance, new hire accruals and others 0.2 - 0.3 0.1 Impact of stock price changes and graded-vesting amortization on cash- settled equity plans (2) (1.8) 12.8 26.2 13.2 Fund expenses (3) 4.1 2.7 7.6 5.2 Carried interest and performance fee payouts - external (3) - - 2.2 - Commission expense - external (3) 0.7 0.8 3.4 0.8 Selling, general, and administrative ("SG&A") 5.1 4.8 11.0 9.0 Interest expense 0.3 0.3 0.6 0.6 Depreciation and amortization 0.7 0.6 1.4 1.2 Foreign exchange (gain) loss (1.0) 3.3 (1.4) 3.8 Total expenses 34.0 46.3 135.0 73.9 In millions $ 3 months ended 6 months ended
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21 Adjusted EBITDA Reconciliation (1) Calculated as IFRS net income divided by IFRS total revenue (2) EBITDA, adjusted EBITDA and adjusted EBITDA margin are non-IFRS measures. See slide 2 (3) This adjustment removes the income effects of gains or losses on short -term investments, co -investments and private holdings to ensure the reporting objectives of our adjusted EBITDA metric are met (4) The decrease in the quarter and the increase on a year-to-date basis was primarily due to the Company's "cash -settled" stock-based compensation plan which requires mark-to-market accounting under IFRS 2. This led to stock price changes that were driven by NYSE:SII being down 21% in the quarter and up 15% on a year -to-date basis Q2 2026 Q2 2025 Q2 2026 Q2 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 amortization 0.7 0.6 1.4 1.2 EBITDA(2) 47.2 19.8 90.1 36.4 Adjustments: (Gain) loss on investments (3) (0.6) (2.7) (1.5) (4.2) Stock-based compensation(4) 5.0 18.6 39.7 24.8 Foreign exchange (gain) loss (1.0) 3.3 (1.4) 3.8 Severance, new hire accruals and other 0.2 - 0.3 0.1 Carried interest and performance fees - (14.8) (52.0) (14.8) Carried interest and performance fee payouts - internal - 1.3 31.1 1.3 Carried interest and performance fee payouts - external - - 2.2 - Adjusted EBITDA (2) 50.8 25.5 108.7 47.4 Adjusted EBITDA margin(2) 71% 61% 71% 60% Net income per share 1.33 0.52 2.46 0.99 Adjusted EBITDA per share 1.97 0.99 4.22 1.83 In millions $ 3 months ended 6 months ended