Company: SPPP
Filing Date: 2025-06-12
Form Type: F-10EF
Source: 0001999371-25-007710
Chunk: 40

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-06-12
Form: F-10EF
Chunk 40
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 been audited by KPMG LLP, Chartered Professional Accountants, Licensed Public Accountants,
as stated in their report, which is incorporated herein by reference. KPMG LLP has confirmed that they are independent with respect
to the Trust within the meaning of the relevant rules and related interpretations prescribed by the relevant professional bodies
in Canada and any applicable legislation or regulation, and that they are independent accountants with respect to the Trust under
all relevant U.S. professional and regulatory standards for the period under audit in respect of the Trust’s financial year
ended December 31, 2024.

<div align='center'>-22

LEGAL MATTERS</div>

Certain legal matters relating to the trust
units offered by this prospectus will be passed upon for us by Stikeman Elliott LLP, Toronto, Ontario, Canada, with respect to
matters of Canadian law, and Seward & Kissel LLP, New York, New York with respect to matters of United States law. As of the
date hereof, the “designated professionals” (as such term is defined in Form 51-102F2 – Annual Information Form) of each of Stikeman Elliott LLP and Seward & Kissel LLP, respectively, beneficially own, directly or indirectly,
less than 1% of any class of trust units issued by the Trust.

<div align='center'>DOCUMENTS
FILED AS PART OF THE REGISTRATION STATEMENT</div>

The following documents have been filed
or will be filed with the SEC as part of the registration statement of which this prospectus forms a part: the documents listed
under “Documents Incorporated by Reference”; consents of accountants and counsel; and powers of attorney.

<div align='center'>-23

PART II
INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</div>

Indemnification of Directors and Officers.

The Business Corporations Act (Ontario)provides that a corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or another individual who acts or acted at the corporation’s request as a director or officer, or an individual acting in a similar capacity, of another entity (each of the foregoing, an “individual”), against all costs, charges and expenses reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the corporation or other entity. A corporation shall not indemnify