Company: SPPP
Filing Date: 2025-06-12
Form Type: F-10EF
Source: 0001999371-25-007710
Chunk: 13

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-06-12
Form: F-10EF
Chunk 13
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 manager.

The Manager is responsible for the day-to-day
business and administration of the Trust, including management of the Trust’s portfolio and all clerical, administrative
and operational services. The Trust maintains a public website that contains information about the Trust and the trust units. The
internet address of the website is https://sprott.com/investment-strategies/physical-bullion-trusts/. This internet address is provided here only as a convenience to you, and the information contained on or connected to the website is not incorporated into, and does not form part of, this prospectus.

The Trustee

The Trustee, a trust company organized
under the federal laws of Canada, is the trustee of the Trust. The Trustee holds title to the Trust’s assets and has, together
with the Manager, exclusive authority over the assets and affairs of the Trust. The Trustee has a fiduciary responsibility to act
in the best interest of the unitholders.

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The Custodians

The Trust employs two custodians. The Royal
Canadian Mint (the “Mint”), acts as custodian for the Trust’s physical platinum and palladium bullion pursuant
to a precious metals storage and custody agreement in respect of the Trust’s physical platinum bullion (the “Platinum
Storage Agreement”) and the precious metals storage and custody agreement in respect of the Trust’s palladium bullion
(the “Palladium Storage Agreement”, and together with the Platinum Storage Agreement, the “Storage Agreements”).
The Mint is a Canadian Crown corporation, which acts as an agent of the Canadian Government, and its obligations generally constitute
unconditional obligations of the Canadian Government. The Mint is responsible for and bears all risk of the loss of, and damage
to, the Trust’s physical platinum and palladium bullion that is in the Mint’s custody, subject to certain limitations,
including events beyond the Mint’s control and proper notice by the Manager.

The Mint has appointed Loomis International
(USA) Inc. (“Loomis”) (formerly known as Via Mat International Ltd. through its subsidiary, Via Mat International (USA)
Inc.) to act as sub-custodian of the physical palladium bullion on a fully allocated basis at vault facilities located in London
or Zurich. Any sub-custodian engaged by the Mint will have vault facilities that are accepted as warehouses for the London Platinum
and Palladium Market (“LPPM”).

RBC Investor