Company: SPPP
Filing Date: 2025-10-10
Form Type: F-10EF
Source: 0001999371-25-015206
Chunk: 30

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-10-10
Form: F-10EF
Chunk 30
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 the NAV per unit of the Trust were U.S.$589,564,539.50 and U.S.$14.9355, respectively, and there were a total of 39,473,945 units of the Trust issued and outstanding. DESCRIPTION OF THE TRUST UNITS The Trust is authorized to issue an unlimited number of trust units in one or more classes and series of a class. Currently, the Trust has issued only one class or series of trust units, which are the class of trust units that will be qualified by this prospectus. Each trust unit of a class or series of a class represents an undivided ownership interest in the net assets of the Trust attributable to that class or series of a class of trust units. Trust units are transferable and redeemable at the option of the unitholder in accordance with the provisions set forth in the Trust Agreement. All trust units of the same class or series of a class have equal rights and privileges with respect to all matters, including voting, receipt of distributions from the Trust, liquidation and other events in connection with the Trust. Trust units and fractions thereof are issued only as fully paid and non-assessable. Trust units have no preference, conversion, exchange or pre-emptive rights. Each whole trust unit of a particular class or series of a class entitles the holder thereof to a vote at meetings of unitholders where all classes vote together, or to a vote at meetings of unitholders where that particular class or series of a class of unitholders votes separately as a class. -16- The Trust may not issue trust units except (i) if the net proceeds per trust unit to be received by the Trust are not less than 100% of the most recently calculated NAV per trust unit immediately prior to, or upon, the determination of the pricing of such issuance or (ii) by way of trust unit distribution in connection with an income distribution. PRIOR SALES The following table summarizes the trust units that have been issued from treasury during the 12-month period before the date of this prospectus, all of which have been issued pursuant to the sales agreement.

| Date              | Price Per Trust Unit (U.S.$) | Number of Trust Units Issued |
| October 10, 2024  |                      10.1203 |                       53,600 |
| October 10, 2024  |                      10.1339 |                      100,000 |
| October 17, 2024  |