Company: SPPP
Filing Date: 2025-06-12
Form Type: F-10EF
Source: 0001999371-25-007710
Chunk: 20

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-06-12
Form: F-10EF
Chunk 20
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 of 90% of the total net assets of the Trust in physical platinum                                   
 and palladium bullion conforming to the Good Delivery Standards (as defined below) of the LPPM plate or ingot form and hold no       
 more than 10% of the total net assets of the Trust, at the discretion of the Manager, in physical platinum and palladium bullion     
 (in Good Delivery plate or ingot form or otherwise), debt obligations of or guaranteed by the Government of Canada or a province     
 of Canada or by the Government of the United States or a state thereof, short-term commercial paper obligations of a corporation     
 or other person whose short-term commercial paper is rated R-1 (or its equivalent, or higher) by DBRS Limited or its successors      
 or assigns or F-1 (or its equivalent, or higher) by Fitch Ratings or its successors or assigns or A-1 (or its equivalent, or higher) 
 by Standard & Poor’s or its successors or assigns or P-1 (or its equivalent, or higher) by Moody’s Investor Service                  
 or its successors or assigns, interest-bearing accounts and short-term certificates of deposit issued or guaranteed by a Canadian    
 chartered bank or trust company, money market mutual funds, short-term government debt or short-term investment grade corporate      
 debt, or other short-term debt obligations approved by the Manager from time to time (for the purpose of this paragraph, the term    
 “short-term” means having a date of maturity or call for payment not more than 182 days from the date on which the                   
 investment is made), except during the 60-day period following the closing of additional offerings or prior to the distribution      
 of the assets of the Trust. “Good Delivery Standards” means the specifications for weight, dimensions, fineness (or                  
 purity), identifying marks and appearance, being a minimum fineness (or purity) of 99.95% weighing between 32.151 and 192.904 troy   
 ounces as set forth in “The Good Delivery Rules for Platinum and Palladium Plates and Ingots” published by the LPPM.                 
 The Trust is permitted to invest up to 100% of its net assets, taken at market value at the time of purchase, in physical platinum   
 and palladium bullion. See “Exemptions and Approvals”;                                                                               |

| (b) | will not invest in platinum or palladium certificates, futures or other financial instruments that 
 represent platinum or palladium or that may be exchanged for