Company: SPPP
Filing Date: 2025-10-10
Form Type: F-10EF
Source: 0001999371-25-015206
Chunk: 5

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-10-10
Form: F-10EF
Chunk 5
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 PART OF THE REGISTRATION STATEMENT | 24 |
| EXEMPTIONS AND APPROVALS                              | 24 |

FINANCIAL INFORMATION AND ACCOUNTING PRINCIPLES Unless otherwise indicated, financial information in this prospectus has been prepared in accordance with IFRS. The financial information of the Trust incorporated by reference herein is presented in U.S. dollars. Unless otherwise noted herein, all references to “$”, “U.S.$”, “United States dollars”, “U.S. dollars” or “dollars” are to the currency of the United States and all references to “Cdn$” or “Canadian dollars” are to the currency of Canada. EXCHANGE RATE The following table sets out certain exchange rates based upon the daily average rate published by the Bank of Canada. The rates are set out as United States dollars per Cdn$1.00.

|         |     | Years Ended December 31, |   2023 |     |   |   2024 |
|:--------|:----|:-------------------------|-------:|:----|:--|-------:|
| Low     |     | $                        | 0.7207 |     | $ | 0.6937 |
| High    |     | $                        | 0.7617 |     | $ | 0.7510 |
| Average |     | $                        | 0.7410 |     | $ | 0.7302 |
| End     |     | $                        | 0.7561 |     | $ | 0.6950 |

On October 8, 2025, the daily average rate for United States dollars in terms of Canadian dollars, as quoted by the Bank of Canada was Cdn$1.00 = U.S.$0.7167. DOCUMENTS INCORPORATED BY REFERENCE Incorporated by reference in this prospectus is certain information contained in documents filed by the Trust with the securities regulatory authorities in each of the provinces and territories of Canada, which have also been filed with, or furnished to, the SEC. This means that the Trust is disclosing important information to you by referring you to those documents. The information incorporated by reference is deemed to be part of this prospectus, except for any information superseded by information contained directly in this prospectus or in any other subsequently-filed document which also is or is deemed to be incorporated by reference herein. You may obtain copies of the documents incorporated by reference in this prospectus on request without charge by