Document:

Exhibit 10.3

    	
            
              

            

          	
            Execution Copy

          

    

    

    

    

    CUSTODY AGREEMENT

    (U.S. Dollar Only)

    AGREEMENT, initially dated as of May 11, 2021, as amended and restated as of June 29, 2022 by and between Sprott ESG Gold ETF, a statutory
      trust formed under the laws of the State of Delaware (the “Trust”), having its principal office and place of business at 320 Post Road, Suite 230, Darien, Connecticut 06820, and The Bank of New York Mellon, a New York corporation authorized to do a
      banking business, having its principal office and place of business at 240 Greenwich Street, New York, New York 10286 (“Custodian”).

    W I T N E S S E T H:

    That for and in consideration of the mutual promises hereinafter set forth the Trust and Custodian agree as follows:

    ARTICLE I

      DEFINITIONS

    Whenever used in this Agreement, the following words shall have the meanings set forth below:

    1.  “Authorized Person” shall mean each person, whether or not an officer or an employee of the
      Trust, duly authorized to execute this Agreement and to give Instructions on behalf of the Trust as set forth in Schedule I hereto and each Authorized Person’s scope of authority may be limited by setting forth such limitation in a written document
      signed by both parties hereto.  From time to time the Trust may deliver a new Schedule I to add or delete any person and Custodian shall be entitled to rely on the last Schedule I hereto actually received by Custodian.

    2.  “Business Day” shall mean any day on which Custodian and relevant Depositories are open for
      business.

    3.  “Cash” shall mean U.S. dollars.

    4.  “Certificate” shall mean any notice, instruction, or other instrument in writing, authorized
      or required by this Agreement to be given to Custodian, which is actually received by Custodian by letter or facsimile transmission and signed on behalf of the Trust by an Authorized Person or a person reasonably believed by Custodian to be an
      Authorized Person.

    5.  “Confidential Information” means, with respect to a party, the terms of this Agreement and all
      non-public business and financial information of such party (including, with respect to the Trust, information regarding the Accounts and including, with respect to Custodian, information regarding its practices and procedures related to the services
      provided

    
      
        

    

    
    hereunder) disclosed to the other party in connection with this Agreement. Notwithstanding the foregoing, the term Confidential Information shall not include
      any information or other data which (i) is already in the possession of the recipient or its affiliate(s) at the time it is disclosed or made available to the recipient or its affiliate(s), provided that such information or data is not known by the
      recipient or its affiliate(s) to be subject to another confidentiality agreement or other obligation of confidentiality, (ii) was or becomes generally available to the public other than as a result of a disclosure by the recipient or its affiliate(s)
      in violation of this Agreement, (iii) was or becomes available to the recipient or its affiliate(s) on a non-confidential basis from a source other than the disclosing party or one of its affiliates, provided that such source is not known by the
      recipient or its affiliate(s) to be bound by a confidentiality agreement with, or other obligation of confidentiality, (iv) is independently developed by the recipient or its representatives without reference to any of the Confidential Information
      (v) is expressly identified by the disclosing party as not being proprietary or confidential, (vi) is requested or required to be disclosed by the receiving party pursuant to a court order, subpoena, governmental or regulatory agency request or law
      or regulation, provided, however, the party making such required disclosure shall first notify the other party (to the extent permissible) and shall, if practicable, afford the other party a reasonable opportunity to seek confidential treatment if it
      wishes to do so, (vii) is relevant to the defense of any claim or cause of action asserted against the receiving party or (viii) is released in connection with the provision of services under this Agreement.

    6.  “Custodian Affiliate” shall mean any office, branch or subsidiary of The Bank of New York
      Mellon Corporation.

    7.  “Economic Sanctions Compliance Program” shall mean those programs, policies, procedures and
      measures designed to ensure compliance with, and prevent violations of, Sanctions.

    8.  “Instructions” shall meancommunications actually received by Custodian by S.W.I.F.T., tested telex, letter, facsimile transmission, or other method or system specified by Custodian as available for use in
      connection with the services hereunder. 

    9.  “Oral Instructions” shall mean verbal instructions received by Custodian from an Authorized
      Person or from a person reasonably believed by Custodian to be an Authorized Person.

    10.  “Registration Statement” means the Registration Statement (including a Prospectus) for Trust
      under the Securities Act of 1933, as amended, filed with the U.S. Securities and Exchange Commission.

    11.  “Sanctions” shall mean all economic sanctions, laws, rules, regulations, executive orders and
      requirements administered by any governmental authority of the U.S. (including the U.S. Office of Foreign Assets Control), and the European Union (including any national jurisdiction or member state thereof), in addition to any other applicable
      authority with jurisdiction over the Trust.

    12.  “Shares” shall have the meaning set forth in Article V Section 1.

    
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    13.  “Sponsor” means Sprott Asset Management LP, the sponsor of the Trust.

    14.  “Transfer Agent” shall mean The Bank of New York Mellon or an affiliate, subject to a
      separate Transfer Agency and Service Agreement entered into between the parties, or any successor transfer agent identified to Custodian in a Certificate.

    ARTICLE II

      APPOINTMENT OF CUSTODIAN; ACCOUNTS;

      REPRESENTATIONS, WARRANTIES, AND COVENANTS

    1.           (a)  The Trust hereby appoints Custodian as custodian of all Cash at any time delivered to Custodian during the term of this
      Agreement. Custodian hereby accepts such appointment and agrees to establish and maintain one or more Cash accounts for the Trust. Such accounts (each, an “Account”; collectively, the “Accounts”) shall be in the name of the Trust.

    (b)  Custodian may from time to time establish on its books and records such sub-accounts within each Account as the Trust and Custodian
      may agree upon (each a “Special Account”), and Custodian shall reflect therein such assets as the Trust may specify in a Certificate or Instructions.

    (c)  Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, futures
      commission merchant or other third party identified in a Certificate or Instructions such accounts on such terms and conditions as the Trust and Custodian shall agree, and Custodian shall transfer to such accounts such Cash as the Trust may specify
      in a Certificate or Instructions.

    2.  The Trust, on its own behalf, hereby represents and warrants, which representations and warranties shall be continuing and shall be
      deemed to be reaffirmed upon each delivery of a Certificate or each giving of Oral Instructions or Instructions by the Trust, that:

    (a)  It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as
      now conducted, to enter into this Agreement, and to perform its obligations hereunder;

    (b)  This Agreement has been duly authorized, executed and delivered by the Trust, constitutes a valid and legally binding obligation of
      the Trust, enforceable in accordance with its terms, and there is no statute, regulation, rule, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture, credit agreement or other contract binding on
      it or affecting its property, which would prohibit its execution or performance of this Agreement;

    (c)  It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has
      obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted;

    (d)  It will not use the services provided by Custodian hereunder in any manner that is, or will result in, a violation of any law, rule or
      regulation applicable to the Trust;

    
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    (e)  It is fully informed of the protections and risks associated with various methods of transmitting Instructions and Oral Instructions
      and delivering Certificates to Custodian, shall, and shall cause each Authorized Person, to safeguard and treat with extreme care any user and authorization codes, passwords and/or authentication keys, understands that there may be more secure
      methods of transmitting or delivering the same than the methods selected by it, agrees that the security procedures (if any) to be followed in connection therewith provide a commercially reasonable degree of protection in light of its particular
      needs and circumstances, and acknowledges and agrees that Instructions need not be reviewed by Custodian, may be presumed in good faith by Custodian to have been given by person(s) duly authorized,  and may be acted upon as given;

    (f)  It shall impose and maintain restrictions on the destinations to which Cash may be disbursed by Instructions to ensure that each
      disbursement is for a proper purpose; and

    (g)  It has the right to make the pledge and grant the security interest and security entitlement to Custodian contained in Section 1 of
      Article V hereof, free of any right of redemption or prior claim of any other person or entity, such pledge and such grants shall have a first priority subject to no setoffs, counterclaims, or other liens or grants prior to or on a parity therewith,
      and it shall take such additional steps as Custodian may require to assure such priority.

    3.  Custodian hereby represents and warrants, which representations and warranties shall be continuing, that:

    (a)  It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as
      now conducted, to enter into this Agreement, and to perform its obligations hereunder;

    (b)  This Agreement has been duly authorized, executed and delivered by Custodian, constitutes a valid and legally binding obligation of
      Custodian, enforceable in accordance with its terms, and there is no statute, regulation, rule, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture, credit agreement or other contract binding on
      it or affecting its property, which would prohibit its execution or performance of this Agreement;

    (c)  It has, and will maintain, such backup, contingency and disaster recovery procedures as are required by its regulators; and

    (d)  It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has
      obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted.

    ARTICLE III

      CUSTODY AND RELATED SERVICES

    1.  Subject to the terms hereof, the Trust hereby authorizes Custodian to hold any Cash received by it from time to time for the Trust and
      shall credit such Cash to the Trust’s applicable Account.

    
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    2.  Custodian shall furnish the Trust with an advice of daily transactions as promptly as practicable in its ordinary course processing,
      after the close of Business on each Business Day and a monthly summary of all transfers to or from the Accounts as promptly as practicable in its ordinary course processing, following such month end.  Custodian shall furnish such reports for such
      other time periods as the Trust may from time to time reasonably request.

    3.  With respect to all Cash held hereunder, Custodian shall, unless otherwise instructed to the contrary:

    (a)  Receive all income and other payments and advise the Trust as promptly as practicable of any such amounts due but not paid; and

    (b)  Endorse for collection checks, drafts or other negotiable instruments.

    4.  Custodian shall not under any circumstances accept bearer interest coupons which have been stripped from United States federal, state
      or local government or agency securities unless explicitly agreed to by Custodian in writing.

    5.  The Trust shall be liable for all taxes, assessments, duties and other governmental charges, including any interest or penalty with
      respect thereto (“Taxes”), with respect to any Cash held on behalf of the Trust or any transaction related thereto.  The Trust, as applicable, shall indemnify Custodian for the amount of any Tax that Custodian or any withholding agent is required
      under applicable laws (whether by assessment or otherwise) to pay on behalf of, or in respect of income earned by or payments or distributions made to or for the account of the Trust (including any payment of Tax required by reason of an earlier
      failure to withhold). Custodian shall, or shall instruct the applicable withholding agent to, withhold the amount of any Tax which is required to be withheld under applicable law upon collection of any dividend, interest or other distribution.  In
      the event that Custodian is required under applicable law to pay any Tax on behalf of the Trust, Custodian is hereby authorized to withdraw cash from any cash account for the Trust only in the amount required to pay such Tax and to use such cash, or
      to remit such cash to the appropriate withholding agent, for the timely payment of such Tax in the manner required by applicable law.  If the aggregate amount of cash in all cash accounts is not sufficient to pay such Tax, Custodian shall promptly
      notify the Trust of the additional amount of cash (in the appropriate currency) required, and the Trust shall directly deposit such additional amount in the appropriate cash account promptly after receipt of such notice, for use by Custodian as
      specified herein.  In the event that Custodian reasonably believes that the Trust is eligible, pursuant to applicable law or to the provisions of any tax treaty, for a reduced rate of, or exemption from, any Tax which is otherwise required to be
      withheld or paid on behalf of the Trust under any applicable law, Custodian shall, or shall instruct the applicable withholding agent to, either withhold or pay such Tax at such reduced rate or refrain from withholding or paying such Tax, as
      appropriate; provided that Custodian shall have received from the Trust all documentary evidence of residence or other qualification for such reduced rate or exemption required to be received under such applicable law or treaty.  In the event
      that Custodian reasonably believes that a reduced rate of, or exemption from, any Tax is obtainable only by means of an application for refund, Custodian shall have no responsibility for the accuracy or validity of any forms or documentation provided
      by the Trust to Custodian hereunder.  The Trust hereby agrees to indemnify and hold harmless Custodian in respect of any liability arising from any

    
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    underwithholding or underpayment of any Tax which results from the inaccuracy or invalidity of any such forms or other documentation, and such obligation to
      indemnify shall be a continuing obligation of the Trust, its successors and assigns notwithstanding the termination of this Agreement.

    6.          (a)  For the purpose of settling foreign exchange transactions, the Trust shall provide Custodian with sufficient immediately
      available funds for all transactions by such time and date as conditions in the relevant market dictate. As used herein, “sufficient immediately available funds” shall mean either (i) sufficient cash denominated in U.S. dollars to purchase the
      necessary foreign currency, or (ii) sufficient applicable foreign currency, to settle the transaction.  Custodian shall provide the Trust with immediately available funds each day which result from the actual settlement of all sale transactions,
      based upon advices received by Custodian.  Such funds shall be in U.S. dollars or such other currency as the Trust may specify to Custodian.

    (b)  Any foreign exchange transaction effected by Custodian in connection with this Agreement may be entered with Custodian or a Custodian
      Affiliate acting as principal or otherwise through customary banking channels.  The Trust may issue a standing Certificate or Instructions with respect to foreign exchange transactions, but Custodian may establish rules or limitations concerning any
      foreign exchange facility made available to the Trust.  The Trust shall bear all risks of holding cash denominated in a foreign currency.

    (c)  To the extent that Custodian has agreed to provide pricing or other information services in connection with this Agreement, Custodian
      is authorized to utilize any vendor reasonably believed by Custodian to be reliable to provide such information.  The Trust understands that certain pricing information with respect to complex financial instruments (e.g., derivatives) may be
      based on calculated amounts rather than actual market transactions and may not reflect actual market values, and that the variance between such calculated amounts and actual market values may or may not be material. Where vendors do not provide
      information for certain property, an Authorized Person may advise Custodian in a Certificate regarding the fair market value of, or provide other information with respect to, such property as determined by it in good faith.  Custodian shall not be
      liable for any loss, damage or expense incurred as a result of errors or omissions with respect to any pricing or other information utilized by Custodian hereunder.

    ARTICLE IV

      OVERDRAFTS OR INDEBTEDNESS

    1.  If Custodian should in its sole discretion advance funds on behalf of the Trust which results in an overdraft (including, without
      limitation, any day-light overdraft) because the Cash held by Custodian in an Account for the Trust shall be insufficient because of a reversal of a conditional credit or the purchase of any currency, or if the Trust is for any other reason indebted
      to Custodian, such overdraft or indebtedness shall be deemed to be a loan made by Custodian to the Trust payable on demand and shall bear interest from the date incurred at a rate per annum ordinarily charged by Custodian to its institutional
      customers, as such rate may be adjusted from time to time.  In addition, the Trust hereby agrees that Custodian shall to the maximum extent permitted by law have a continuing lien, security interest, and security entitlement in and to any property,
      including, without limitation, any investment property or any financial asset, of the

    
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    Trust at any time held by Custodian for the benefit of the Trust or in which the Trust may have an interest which is then in Custodian’s possession or control
      or in possession or control of any third party acting in Custodian’s behalf.  The Trust authorizes Custodian, in its sole discretion, at any time to charge any such overdraft or indebtedness together with interest due thereon against any balance of
      account standing to the Trust’s credit on Custodian’s books.

    2.  If the Trust borrows money from any bank (including Custodian if the borrowing is pursuant to a separate agreement) using Cash held by
      Custodian hereunder as collateral for such borrowings, the Trust shall deliver to Custodian a Certificate specifying with respect to each such borrowing:  (a) the name of the bank, (b) the amount of the borrowing, (c) the time and date, if known, on
      which the loan is to be entered into, (d) the total amount payable to the Trust on the borrowing date, (e) the Cash to be delivered as collateral for such loan and (f) such loan is in conformance with the Trust’s prospectus.  Custodian shall deliver
      on the borrowing date specified in a Certificate the specified collateral against payment by the lending bank of the total amount of the loan payable, provided that the same conforms to the total amount payable as set forth in the Certificate. 
      Custodian may, at the option of the lending bank, keep such collateral in its possession, but such collateral shall be subject to all rights therein given the lending bank by virtue of any promissory note or loan agreement.  Custodian shall deliver
      such Cash as additional collateral as may be specified in a Certificate to collateralize further any transaction described in this Section.  The Trust shall cause all Cash released from collateral status to be returned directly to Custodian, and
      Custodian shall receive from time to time such return of collateral as may be tendered to it.  In the event that the Trust fails to specify in a Certificate the principal amount of any Cash to be delivered as collateral by Custodian, Custodian shall
      not be under any obligation to deliver Cash.

    ARTICLE V

      SALE AND REDEMPTION OF SHARES

    1.  If applicable, whenever the Trust shall sell any shares issued by the Trust (“Shares”) it shall deliver to Custodian a Certificate or
      Instructions, or cause the Trust’s Transfer Agent to provide instructions, specifying the amount of Cash, if any, to be received by Custodian in connection with the sale of such Shares and specifically allocated to an Account for the Trust. Upon
      receipt of such Cash, if any, Custodian shall credit the same to an Account in the name of the Trust for which such Cash, if any, is received.

    2.  Whenever the Trust desires Custodian to make a payment, if any, out of Cash held by Custodian hereunder in connection with a redemption
      of any Shares, it shall furnish to Custodian a Certificate or Instructions, or cause the Trust’s Transfer Agent to provide instructions specifying the total amount of Cash, if any, to be paid, for the redemption of such Shares. Custodian shall make
      any such payment and such delivery of Shares, as directed by a Certificate or Instructions or instructions of the Trust’s transfer agent, out of the Cash held in an Account of the Trust.

    
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    ARTICLE VI

      PAYMENT OF DIVIDENDS OR DISTRIBUTIONS

    1.  Whenever the Trust shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a
      Certificate setting forth the total amount payable, and the payment date.

    2.  Upon the payment date specified in such Instructions or Certificate, Custodian shall pay out of the Cash held for the account of the
      Trust the total amount payable to the dividend agent of the Trust specified therein.

    ARTICLE VII

      CONCERNING CUSTODIAN

    1.       (a)  Custodian shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this
      Agreement. Except as otherwise expressly provided herein, Custodian shall not be liable for any costs, expenses, damages, liabilities or claims, including reasonable and documented attorneys’ and accountants’ fees and expenses (collectively,
      “Losses”), incurred by or asserted against the Trust, except those Losses arising out of Custodian’s own negligence, bad faith, willful misfeasance, or reckless disregard of its duties hereunder. In no event shall the Custodian be liable to the Trust
      or any third party for special, indirect or consequential damages, or lost profits or loss of business, arising in connection with this Agreement.  The Custodian shall not be liable:  (i) for acting in accordance with any Certificate or Oral
      Instructions  actually received by Custodian and reasonably believed by Custodian to be given by an Authorized Person; (ii) for acting in accordance with such Instructions without reviewing the same; (iii) for conclusively presuming
      that all Instructions are given only by person(s) duly authorized; (iv) for conclusively presuming that all disbursements of cash directed by the Trust, whether by a Certificate, an Oral Instruction, or an Instruction, are in accordance with
      the applicable provisions of this Agreement; (v) for holding property in any particular country, including, but not limited to, Losses resulting from nationalization, expropriation or other governmental actions; regulation of the banking or
      securities industry; exchange or currency controls or restrictions, devaluations or fluctuations; availability of cash market conditions which prevent the transfer of property or affect the value of property; (vi) for any Losses due to forces
      beyond the control of Custodian, including without limitation strikes, work stoppages, acts of war or terrorism, insurrection, revolution, nuclear or natural catastrophes or acts of God, or interruptions, loss or malfunctions of utilities,
      communications or computer (software and hardware) services; (vii) for any Losses arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, including, without limitation, implementation
      or adoption of any rules or procedures which may affect, limit, prevent or impose costs or burdens on, the transferability, convertibility, or availability of any currency in any country, and in no event shall Custodian be obligated to substitute
      another currency for a currency whose transferability, convertibility or availability has been affected, limited, or prevented by such law, regulation or event, and to the extent that any such law, regulation or event imposes a cost or charge upon
      Custodian in relation to the transferability, convertibility, or availability of any currency, such cost or charge shall be for the account of the Trust, and Custodian may treat any account denominated in an affected currency as a group of separate
      accounts denominated in the relevant component currencies.

    
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    (b)  Custodian may enter into subcontracts, agreements and understandings with any Custodian Affiliate, whenever and on such terms and
      conditions as it deems necessary or appropriate to perform its services hereunder.  No such subcontract, agreement or understanding shall discharge Custodian from its obligations hereunder, and Custodian shall be liable for the acts or omissions of
      any such Custodian Affiliate to the same extent as it is liable for such acts or omissions under this Agreement.

    (c)  The Trust, on its own behalf, agrees to indemnify Custodian and hold Custodian harmless from and against any and all Losses sustained
      or incurred by or asserted against Custodian by reason of or as a result of any action or inaction, or arising out of Custodian’s performance hereunder, including reasonable fees and expenses of counsel incurred by Custodian in a successful defense
      of claims by the Trust; provided however, that the Trust, on its own behalf, shall not indemnify Custodian for those Losses arising out of Custodian’s own negligence, bad faith, willful misfeasance, reckless disregard for its duties hereunder.  This
      indemnity shall be a continuing obligation of the Trust, its successors and assigns, notwithstanding the termination of this Agreement.

    2.  Without limiting the generality of the foregoing, Custodian shall be under no obligation to inquire into, and shall not be liable for:

    (a)  The legality of the sale or redemption of any Shares, or the propriety of the amount to be received or paid therefor;

    (b)  The legality of the declaration or payment of any dividend or distribution by the Trust;

    (c)  The legality of any borrowing by the Trust;

    (d)  The sufficiency or value of any amounts of Cash held in any Special Account in connection with transactions by the Trust; whether any
      broker, dealer, futures commission merchant or clearing member makes payment to the Trust of any variation margin payment or similar payment which the Trust may be entitled to receive from such broker, dealer, futures commission merchant or clearing
      member, or whether any payment received by Custodian from any broker, dealer, futures commission merchant or clearing member is the amount the Trust is entitled to receive, or to notify the Trust of Custodian’s receipt or non-receipt of any such
      payment; or

    (e)  Whether any transactions by the Trust, whether or not involving Custodian, are such transactions as may properly be engaged in by the
      Trust.

    3.  Custodian may, with respect to questions of law specifically regarding an Account, obtain the advice of counsel and shall be fully
      protected with respect to anything done or omitted by it provided that Custodian acts in good faith without negligence or willful misfeasance in carrying out such advice.

    4.  Custodian shall have no duty or responsibility to inquire into, make recommendations, supervise, or determine the suitability of any
      transactions affecting any Account.

    
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    5.  The Trust shall pay to Custodian the fees and charges in the agreed upon fee schedule (as such fee schedule may be amended by BNY
      Mellon and Trust from time to time) (the “fee schedule”).  The Trust shall reimburse Custodian for all costs associated with the transfer of records kept in connection with this Agreement upon termination of the Agreement.  The Trust shall also
      reimburse Custodian for out‐of‐pocket expenses which are a normal incident of the services provided hereunder.

    6.  Custodian has the right to debit any cash account for any amount payable by the Trust in connection with any and all obligations of the
      Trust to Custodian.  In addition to the rights of Custodian under applicable law and other agreements, at any time when the Trust shall not have honored any of its obligations to Custodian, Custodian shall have the right without prior notice to the
      Trust to retain or set-off, against such obligations of the Trust, any cash Custodian or a Custodian Affiliate may directly or indirectly hold for the account of the Trust, and any obligations (whether matured or unmatured) that Custodian or a
      Custodian Affiliate may have to the Trust.  Any such asset of, or obligation to, the Trust may be transferred to Custodian and any Custodian Affiliate in order to effect the above rights.

    7.  The Trust agrees to forward to Custodian a Certificate or Instructions confirming Oral Instructions by the close of business of the
      same day that such Oral Instructions are given to Custodian.  The Trust agrees that the fact that such confirming Certificate or Instructions are not received or that a contrary Certificate or contrary Instructions are received by Custodian shall in
      no way affect the validity or enforceability of transactions authorized by such Oral Instructions and effected by Custodian.  If the Trust elects to transmit Instructions through an on-line communications system offered by Custodian, the Trust’s use
      thereof shall be subject to the Terms and Conditions attached as Appendix I hereto.  If Custodian receives Instructions which appear on their face to have been transmitted by an Authorized Person via (i) computer facsimile, email, the Internet or
      other insecure electronic method, or (ii) secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys, the Trust understands and agrees that Custodian cannot determine the identity of the actual
      sender of such Instructions and that Custodian shall conclusively presume that such Written Instructions have been sent by an Authorized Person, and the Trust shall be responsible for ensuring that only Authorized Persons transmit such Instructions
      to Custodian.  If the Trust elects (with Custodian’s prior consent) to transmit Instructions through an on-line communications service owned or operated by a third party, the Trust agrees that Custodian shall not be responsible or liable for the
      reliability or availability of any such service.

    8.  The books and records pertaining to the Trust which are in possession of Custodian shall be the property of the Trust.  Such books and
      records shall be prepared and maintained as described in the Investment Company Act of 1940, as amended, and the rules thereunder, as if the Trust was subject to such rules. The Trust, or its authorized representatives, shall have access to such
      books and records during Custodian’s normal business hours.  Upon the reasonable request of the Trust, copies of any such books and records shall be provided by Custodian to the Trust or its authorized representative.  Upon the reasonable request of
      the Trust, Custodian shall provide in hard copy or on computer disc any records included in any such delivery which are maintained by Custodian on a computer disc, or are similarly maintained.

    
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    9.  It is understood that Custodian is authorized to supply any information regarding the Accounts which is required by any law, regulation
      or rule now or hereafter in effect.  The Custodian shall provide the Trust with such reports on its own system of internal accounting control as the Trust may reasonably request from time to time.

    10.  Custodian shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in
      this Agreement, and no covenant or obligation shall be implied against Custodian in connection with this Agreement, except as set forth in this Agreement.

    11.        (a)  Throughout the term of this Agreement, the Trust (i) shall maintain, and comply with, an Economic Sanctions Compliance
      Program which includes measures to accomplish effective and timely scanning of all relevant data with respect to its clients and with respect to incoming or outgoing assets or transactions; (ii) shall ensure that neither the Trust nor any of its
      affiliates, directors, officers, employees or clients (to the extent such clients are covered by this Agreement) is an individual or entity that is, or is owned or controlled by an individual or entity that is: (A) the target of Sanctions, or (B)
      located, organized or resident in a country or territory that is, or whose government is, the target of Sanctions; and (iii) shall not, directly or indirectly, use the Accounts in any manner that would result in a violation of Sanctions.

    (b)  The Trust will promptly provide to the Custodian such information as the Custodian reasonably requests in connection with the matters
      referenced in this Article VII, Section 11, including information regarding the Accounts, the assets held or to be held in the Accounts, the source thereof, and the identity of any individual or entity having or claiming an interest therein.  The
      Custodian may decline to act or provide services in respect of any Account, and take such other actions as it, in its reasonable discretion, deems necessary or advisable, in connection with the matters referenced in this Article VII, Section 11.  If
      the Custodian declines to act or provide services as provided in the preceding sentence, except as otherwise prohibited by applicable law or official request, the Custodian will inform the Trust as soon as reasonably practicable.

    ARTICLE VIII

      TERMINATION

    1.  The term of this Agreement shall be one year commencing upon the date hereof and shall automatically renew for additional one-year
      terms unless either party provides written notice of termination at least ninety (90) days prior to the end of any one year term or, unless earlier terminated as provided in Section 3 of this Article VIII.  In the event such notice is given by the
      Trust, it shall be accompanied by a copy of a resolution of board of the Trust, certified by the Secretary or any assistant Secretary, electing to terminate this Agreement and designating a successor custodian or custodians, each of which shall be a
      bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits.  In the event such notice is given by Custodian, the Trust shall, on or before the termination date, deliver to Custodian a copy of a resolution
      of the board of the Trust, certified by the Secretary or any assistant Secretary, designating a successor custodian or custodians.  In the absence of such designation by the Trust, Custodian may designate a successor custodian which shall be a bank
      or trust

    
      11

      
        

    

    company having not less than $2,000,000 aggregate capital, surplus and undivided profits.  Upon the date set forth in such notice this Agreement shall
      terminate, and Custodian shall upon receipt of a notice of acceptance by the successor custodian on that date deliver directly to the successor custodian all Cash then owned by the Trust and held by it as Custodian, after deducting all fees, expenses
      and other amounts for the payment or reimbursement of which it shall then be entitled.

    2.  If a successor custodian is not designated by the Trust or Custodian in accordance with the preceding Section, the Trust shall upon the
      date specified in the notice of termination of this Agreement and upon the delivery by Custodian of all Cash then owned by the Trust be deemed to be its own custodian and Custodian shall thereby be relieved of all duties and responsibilities pursuant
      to this Agreement.

    3.  Notwithstanding Section 1 of this Article VIII, either party hereto may terminate this Agreement immediately by sending notice thereof
      to the other party upon the happening of any of the following: (i) a party breaches any material provision of this Agreement, provided that the non-breaching party gives written notice of such breach to the breaching party and the breaching party
      does not cure such violation within 90 days of receipt of such notice; (ii) a party commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there is commenced against such party any such case or proceeding;
      (iii) a party commences as debtor any case or proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar official for such party or any substantial part of its property or there is commenced against the party any
      such case or proceeding; (iv) a party makes a general assignment for the benefit of creditors; or (v) a party states in any medium, written, electronic or otherwise, any public communication or in any other public manner its inability to pay debts as
      they come due.  Either party hereto may exercise its termination right under this Section 3 of this Article VIII at any time after the occurrence of any of the foregoing events notwithstanding that such event may cease to be continuing prior to such
      exercise, and any delay in exercising this right shall not be construed as a waiver or other extinguishment of that right.

    ARTICLE IX

      MISCELLANEOUS

    1.  The Trust agrees to furnish to Custodian a new Certificate of Authorized Persons in the event of any change in the then present
      Authorized Persons.  Until such new Certificate is received, Custodian shall be fully protected in acting upon Certificates or Oral Instructions of such present Authorized Persons.

    2.  Any notice or other instrument in writing, authorized or required by this Agreement to be given to Custodian, shall be sufficiently
      given if addressed to Custodian and received by it at its offices at 240 Greenwich Street, New York, New York 10286, or at such other place as Custodian may from time to time designate in writing.

    3.  Any notice or other instrument in writing, authorized or required by this Agreement to be given to the Trust shall be sufficiently
      given if addressed to the Trust and received by it at its offices at 320 Post Road, Suite 230, Darien, Connecticut 06820, or at such other place as the Trust may from time to time designate in writing.

    
      12

      
        

    

    

    

    4.  Each and every right granted to either party hereunder or under any other document delivered hereunder or in connection herewith, or
      allowed it by law or equity, shall be cumulative and may be exercised from time to time.  No failure on the part of either party to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any single or partial
      exercise by either party of any right preclude any other or future exercise thereof or the exercise of any other right.

    5.  In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any exclusive jurisdiction,
      the validity, legality and enforceability of the remaining provisions shall not in any way be affected thereby.  This Agreement and the fee schedule may not be amended or modified in any manner except by a written agreement executed by both parties,
      except that any amendment to the Schedule I hereto need be signed only by the Trust and any amendment to Appendix I hereto need be signed only by Custodian.  This Agreement shall extend to and shall be binding upon the parties hereto, and their
      respective successors and assigns; provided, however, that this Agreement shall not be assignable by either party without the written consent of the other. Notwithstanding anything herein to the contrary, in the event the Custodian becomes subject to
      a proceeding under a U.S. special resolution regime, the transfer of this Agreement (and any interest and obligation in or under, and any property securing, this Agreement) from the Custodian will be effective to the same extent as the transfer would
      be effective under the U.S. special resolution regime if this Agreement (and any interest and obligation in or under, and any property securing, this Agreement) were governed by the laws of the United States or a state of the United States; and, in
      the event the Custodian or any affiliate becomes subject to a proceeding under a U.S. special resolution regime, default rights with respect to this Agreement that may be exercised against the Custodian are permitted to be exercised to no greater
      extent than the default rights could be exercised under the U.S. special resolution regime if this Agreement were governed by the laws of the United States or a state of the United States.

    6.  This Agreement shall be construed in accordance with the substantive laws of the State of New York, without regard to conflicts of laws
      principles thereof.  The Trust and Custodian hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder.  The Trust hereby irrevocably waives, to the fullest
      extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such proceeding brought in such a court has been brought in an inconvenient
      forum.  The Trust and Custodian each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement.

    7.  The Trust hereby acknowledges that Custodian is subject to federal laws, including
      the Customer Identification Program (CIP) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which Custodian must obtain, verify and record information that allows Custodian to identify the Trust.  Accordingly, prior
      to opening an Account hereunder Custodian will ask the Trust to provide certain information including, but not limited to, the Trust’s name, physical address, tax identification number and other information that will help Custodian to identify and
      verify the Trust’s identity such as organizational documents, certificate of good standing, license to do business, or other pertinent identifying

    
      13

      
        

    

    

    

    information.  The Trust agrees that Custodian cannot open an Account hereunder unless and until Custodian verifies the Trust’s identity in accordance with its
      CIP.

    8.  The Bank of New York Mellon Corporation is a global financial organization that provides services to clients through its affiliates and
      subsidiaries in multiple jurisdictions (the “BNY Mellon Group”).  The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration, product communication, relationship management, storage,
      compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely in connection with the Centralized Functions, (i) the Trust
      consents to the disclosure of and authorizes Custodian to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party service providers who are subject to confidentiality obligations with respect
      to such information and (ii) Custodian may store the names and business contact information of the Trust’s employees and representatives on the systems or in the records of the BNY Mellon Group or its service providers. The BNY Mellon Group may
      aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the contrary the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon
      Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer.  The Trust confirms that it is authorized to consent to the foregoing.

    9.  This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together,
      constitute only one instrument.

    

    

    
      14

      
        

    

    IN WITNESS WHEREOF, the Trust and Custodian have caused this Agreement to be executed by their
      respective officers, thereunto duly authorized, as of the latest date set forth below.

    
      	 	
              SPROTT ESG GOLD ETF, by Sprott Asset Management LP, its sponsor

            
	 	 
	 	 
	 	By

            	
              /s/  

              

            	
              Whitney George

            
	 	
              Name:

            	
              Whitney George

            
	 	
              Title:

            	
              Director

            
	 	
              Date:

            	
              July 4, 2022

            

    

    
       

      

      
        
          	

                	
                  THE BANK OF NEW YORK MELLON

                
	 	 
	 	 
	 	By

                	
                  /s/  

                  

                	
                  Michael Spates

                
	 	
                  Name:

                	
                  Michael Spates

                
	 	
                  Title:

                	
                  Vice President

                  

                
	 	
                  Date:

                	
                  July 20, 2022

                

        

      

       

      

    

    

    

    
      15

      
        

    

    SCHEDULE I

      CERTIFICATE OF AUTHORIZED PERSONS

    (The Trust - Oral and Written Instructions)

    The undersigned hereby certifies that he/she is the duly elected and acting Chief Executive Officer of Sprott Asset Management LP, the
      sponsor (“Sponsor”) of Sprott ESG Gold ETF (the “Trust”), and further certifies that the following officers or employees of the Sponsor have been duly authorized in conformity with the Trust’s Declaration of Trust and By Laws to deliver Certificates
      and Oral Instructions to The Bank of New York Mellon (“Custodian”) pursuant to the Custody Agreement between the Trust and Custodian initially dated as of May 11, 2021, as amended and restated as of June 29, 2022, and that the signatures appearing
      opposite their names are true and correct:

    	
            Whitney George               

              

            Name

          	
            Director                            

              

            Title

          	
            /s/ Whitney George             

              

            Signature

          

    

    

                    This certificate supersedes any certificate of Authorized Persons you may currently have on file. 

    
      	 [seal]	By

            	
              /s/  

              

            	
              John Ciampaglia

            
	 	
              Name:

            	
              John Ciampaglia

            
	 	
              Title:

            	
              Chief Executive Officer

            
	 	
              Date:

            	
              July 4, 2022

            

    

    

    

    

    

    
      
        

    

    APPENDIX I

    ELECTRONIC SERVICES TERMS AND CONDITIONS

    

    

    

    

    These Electronic Access Terms and Conditions (the “Terms and Conditions”) set forth the terms and conditions
      under which The Bank of New York Mellon Corporation and/or its subsidiaries or joint ventures (collectively, “BNY Mellon”) will provide the entities and its (their) affiliates listed on Schedule A (“You” and “Your”) with access to and use of BNY Mellon’s electronic information delivery site known as “BNY Mellon Connect” and/or other BNY Mellon-designated access portals
      (“Electronic Access”).  Access to and use of Electronic Access by You is contingent upon and is in consideration for Your compliance with the terms and conditions set forth below.  Electronic Access
      includes access to BNY Mellon web sites accessible via BNY Mellon Connect and/or other BNY Mellon-designated access portals (“Sites”), pursuant to which You are able to access products and services
      provided by BNY Mellon as well as data regarding Your accounts.  You may amend Schedule A by delivering a revised version to BNY Mellon.

    Any particular product or service accessed by You through Electronic Access may be subject to a separate written agreement between You and BNY Mellon with
      respect to such products and services (each a “Services Agreement”).  In addition, terms and conditions and restrictions with respect to any particular product or service accessed through Electronic
      Access (such as privacy and internet security matters), together with any disclaimers related to the specific products or services, may be set forth on the Sites (hereinafter referred to as “Terms of Use”) and
      are applicable to such products and services.  You agree to the Terms and Conditions.  By any of Your Users accessing the Sites, and the products and services available through Electronic Access, You agree to any Terms of Use and acknowledge and
      accept any disclaimers and disclosures included on the Sites and the restrictions concerning the use of proprietary data provided by Information Providers (as defined below) that are posted on the Data Terms Web Site (as defined below).  For the
      avoidance of doubt, the execution of these Terms and Conditions will not alter or amend or otherwise affect any Services Agreement whether such Services Agreement is executed prior to or after the execution of these Terms and Conditions.

    	1.	
            Access Administration:

          

    	

          	a.	
            To facilitate access to Electronic Access, You will furnish BNY Mellon with a written list of the names, and the extent of authority or level of access, of persons You are authorizing to
              access the Sites, products and services and to use the Electronic Access (“Authorized Users”) on a read-only basis.  In addition, You may also designate Authorized Users who will have authority
              to enter transactions and provide instructions to BNY Mellon that cause a change in or have an impact on assets held by BNY Mellon for Your accounts (“Authorized Transactional Users”).  Where
              appropriate, Authorized Users and Authorized Transactional Users are collectively referred to herein as “Users.”  If You wish to allow any third party (such as an investment manager, consultant
              or third party service provider) or any employee of a third party to have access to Your account information through Electronic Access and be included as a “User” under these Terms and Conditions, You may designate a third party or employee
              of a third party as an Authorized User or Authorized Transactional User under these Terms and Conditions and any such third party or employee of a third party so designated by You (and, if a third party is so designated, any employee of such
              third party designated by such third party) will be included within the definition of Authorized User, Authorized Transactional User, and User as appropriate.

          

    	

          	b.	
            Upon BNY Mellon’s approval of Users (which approval will not be unreasonably withheld), BNY Mellon will send You a user-id, temporary password and, where applicable, a security identification
              device for each User.  You will be responsible for providing to Users the user-ids, temporary passwords and, where applicable, secure identification devices.  You will ensure that any User receiving a secure identification device returns such
              device immediately following the termination of the User’s authorization to access the products and services for which the secure identification device was provided to such User.  You are solely responsible for Users’ access to Electronic
              Access, and You and Users are solely responsible for the confidentiality of the user-ids and passwords and secure identification devices that are provided to them and will remain responsible for each secure identification device until it is
              returned to BNY Mellon.  You, on behalf of You and Your affiliates, acknowledge and agree that, BNY Mellon will have no duty or obligation to verify or confirm the actual identity of the person who accessed
                Electronic Access using a validly issued user-id and password (and, where applicable, security identification device) or that the

          

    
      
        

    

    person who accessed Electronic Access using such validly issued user-id and password (and, where applicable, security
      identification device) is, in fact, a User (whether an Authorized User or an Authorized Transactional User).

    	

          	c.	
            You shall not, and shall not permit any User or third party to, breach or attempt to breach any security measures used in connection with Electronic Access or Proprietary Software.  Any
              attempt to circumvent or penetrate any application, network or other security measures used by BNY Mellon or its suppliers in connection with Electronic Access is strictly prohibited.

          

    	

          	d.	
            You are also solely responsible for ensuring that all Users comply with these Terms and Conditions and any Terms of Use included on the Sites, the Service Agreement for each product or
              services accessed through the Sites and their associated services and all applicable terms and conditions, restrictions on the use of such products and services and data obtained through the use of Electronic Access.  BNY Mellon reserves the
              right to prohibit access or revoke the access of any User to Electronic Access whom BNY Mellon determines has violated or breached these terms and conditions or any Terms of Use on a Site accessed by the User, including the Data Terms Web
              Site (as defined below), or whose conduct BNY Mellon reasonably determines may constitute a criminal offense, violate any applicable local, state, national, or international law or constitute a security risk for BNY Mellon, a BNY Mellon’s
              third party supplier (“BNY Mellon’s Supplier”),  BNY Mellon’s clients or any Users of Electronic Access.  BNY Mellon may also terminate access to all Users following termination of all Services
              Agreements between You and BNY Mellon.

          

    	2.	
            Proprietary Software:  Depending upon the products and services You elect to access through Electronic Access, You may be provided software owned
              by BNY Mellon or licensed to BNY Mellon by a BNY Mellon Supplier (“Proprietary Software”).  You are granted a limited, non-exclusive, non-transferable license to install the Proprietary Software
              on Your authorized computer system (including mobile devices registered with BNY Mellon) and to use the Proprietary Software solely for Your own internal purposes in connection with Electronic Access and solely for the purposes for which it
              is provided to You.  You and Your Users may make copies of the Proprietary Software for backup purposes only, provided all copyright and other proprietary information included in the original copy of the Proprietary Software are reproduced in
              or on such backup copies.  You shall not reverse engineer, disassemble, decompile or attempt to determine the source code for, any Proprietary Software.  Any attempt to circumvent or penetrate security of Electronic Access is strictly
              prohibited.

          

    	3.	
            Use of Data:

          

    	

          	a.	
            Electronic Access may include information and data that is proprietary to the providers of such information or data (“Information Providers”) or
              may be used to access Sites that include such information or data from Information Providers.  This information and data may be subject to restrictions and requirements which are imposed on BNY Mellon by the Information Providers and which
              are posted on http://www.bnymellon.com/products/assetservicing/vendoragreement.pdf or any successor web site of which You are provided notice from time to time (the “Data Terms Web Site”).  You
              will be solely responsible for ensuring that Users comply with the restrictions and requirements concerning the use of proprietary data that are posted on the Data Terms Web Site.

          

    	

          	b.	
            You consent to BNY Mellon, its affiliates and BNY Mellon’s Suppliers disclosing to each other and using data received from You and Users and, where applicable, Your third parties in connection
              with these Terms and Conditions (including, without limitation, client data and personal data of Users) (1) to the extent necessary for the provision of Electronic Access; (2) in order for BNY Mellon and its affiliates to meet any of their
              obligations under these Terms and Conditions to provide Electronic Access; or (3) to the extent necessary for Users to access Electronic Access.

          

    	

          	c.	
            In addition, You permit BNY Mellon to aggregate data concerning Your accounts with other data collected and/or calculated by BNY Mellon.  BNY Mellon will own such aggregated data, but will not
              distribute the aggregated data in a format that identifies You or Your data.

          

    	4.	
            Ownership and Rights:

          

    	

          	a.	
            Electronic Access, including any database, any software (including for the avoidance of doubt, Proprietary Software) and any proprietary data, processes, scripts, information, training
              materials, manuals or documentation made available as part of the Electronic Access (collectively, the "Information"), are the exclusive and confidential property of BNY Mellon and/or BNY
              Mellon’s suppliers. You may not use or disclose the Information except as expressly authorized by these Terms and Conditions.  You will, and will cause Users and Your third parties and their users, to keep the Information confidential by
              using the same care and discretion that You use with respect to Your own confidential information, but in no event less

          

    
      
        

    

    than reasonable care.

    	

          	b.	
            The provisions of this paragraph will not affect the copyright status of any of the Information which may be copyrighted and will apply to all Information whether or not copyrighted.

          

    	

          	c.	
            Nothing in these Terms and Conditions will be construed as giving You or Users any license or right to use the trade marks, logos and/or service marks of BNY Mellon, its affiliates, its
              Information Providers or BNY Mellon’s Suppliers.

          

    	

          	d.	
            Any Intellectual Property Rights and any other rights or title not expressly granted to You or Users under these Terms and Conditions are reserved to BNY Mellon, its Information Providers and
              BNY Mellon’s Suppliers.  "Intellectual Property Rights" includes all copyright, patents, trademarks and service marks, rights in designs, moral rights, rights in computer software, rights in databases and other protectable lists of
              information, rights in confidential information, trade secrets, inventions and know-how, trade and business names, domain names (including all extensions, revivals and renewals, where relevant) in each case whether registered or unregistered
              and applications for any of them and the goodwill attaching to any of them and any rights or forms of protection of a similar nature and having equivalent or similar effect to any of them which may subsist anywhere in the world.

          

    	5.	
            Reliance:

          

    	

          	a.	
            BNY Mellon will be entitled to rely on, and will be fully protected in acting upon, any actions or instructions associated with a user-id or a secure identification device issued to a User
              until such time BNY Mellon receives actual notice in writing from You of the change in status of the User and receipt of the secure identification device issued to such User. You acknowledge that all commands, directions and instructions,
              including commands, directions and instructions for transactions issued by a User are issued at Your sole risk.  You agree to accept full and sole responsibility for all such commands, directions and instructions and that BNY Mellon, will
              have no liability for, and you hereby release BNY Mellon from, any losses, liabilities, damages, costs, expenses, claims, causes of action or judgments (including attorneys fees and expenses) (collectively “Losses”)

              incurred or sustained by you or any other party in connection with or as a result of BNY Mellon’s reliance upon or compliance with such commands, directions and instructions.

          

    	

          	b.	
            All commands, directions and instructions involving a transaction entered by Authorized Transactional User will be treated as an authorized instruction under the applicable Services
              Agreement(s) between You and BNY Mellon covering accounts, products and services and products provided by BNY Mellon with respect to which Electronic Access is being used whether such Services Agreement is executed prior to or after the
              execution of these Terms and Conditions.

          

    	6.	
            Disclaimers:

          

    	

          	a.	
            Although BNY Mellon uses reasonable efforts to provide accurate and up-to-date information through Electronic Access, BNY Mellon, its Content Providers and Information Providers make no
              warranties or representations under these Terms and Conditions as to accuracy, reliability or comprehensiveness of the content, information or data accessed through Electronic Access.  Without limiting the foregoing, some of the content on
              Electronic Access may be provided by sources unaffiliated with BNY Mellon (“Content Providers”) and by Information Providers. For that content BNY Mellon is a distributor and not a publisher of
              such content and has no control over it.  Information provided by Information Providers has not been independently verified by BNY Mellon and BNY Mellon makes no representation as to the accuracy or completeness of the content or information
              provided.  Any opinions, advice, statements, services, offers or other information given or provided by Content Providers and Information Providers (including merchants and licensors) are those of the respective authors of such content and
              not that of BNY Mellon.  BNY Mellon will not be liable to You or Users for such content or information in any way nor for any action taken in reliance on such information nor for direct or indirect damages resulting from the use of such
              information. For purposes of these Terms and Conditions, all information and data, including all proprietary information and materials and all client data, provided to You through Electronic Access are provided on an “AS-IS”, “AS AVAILABLE”
              basis.

          

    	

          	b.	
            BNY Mellon makes no guarantee and does not warrant that Electronic Access or the information and data provided through the Electronic Access are or will be virus-free or will be free of
              viruses, worms, Trojan horses or other code with contaminating or destructive properties.  BNY Mellon will employ commercially reasonable anti-virus software to its systems to protect its systems against viruses.

          

    	

          	c.	
            Some Sites accessed through the use of Electronic Access may include links to websites provided by parties that are not affiliated with BNY Mellon (“Third
                  Party Websites”).  BNY Mellon will not be liable to any person for the content found on such Third Party Websites.  BNY Mellon will not be responsible for

          

    
      
        

    

    Third Party Websites that collect information from parties who visit their web sites through links on the Sites.  BNY Mellon will not be
      liable or responsible for any loss suffered by any person as a result of their use of any Third Party Websites that are linked to the BNY Mellon Sites.

    	

          	d.	
            BNY Mellon retains complete discretion and authority to add, delete or revise in whole or in part Electronic Access, including its Sites, and to modify from time to time any Proprietary
              Software provided in conjunction with the use of Electronic Access and/or any of the Sites.  To the extent reasonably possible, BNY Mellon will provide notice of such modifications.  BNY Mellon may terminate, immediately and without advance
              notice, and without right of cure, any portion or component of Electronic Access or the Sites.

          

    	

          	e.	
            TO THE FULLEST EXTENT PERMITTED BY LAW, THERE IS NO WARRANTY OF MERCHANTABILITY, NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, NO WARRANTY OF QUALITY AND NO WARRANTY OF TITLE OR
              NONINFRINGEMENT.  THERE IS NO OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, REGARDING ELECTRONIC ACCESS, THE SITES, ANY PROPRIETARY SOFTWARE, INFORMATION, MATERIALS OR CLIENT DATA.

          

    	

          	f.	
            Notwithstanding the prior paragraph, The Bank of New York Mellon or an Affiliate designated by it will defend You and pay any amounts agreed to by BNY Mellon in a settlement and damages
              finally awarded by a court of competent jurisdiction, in an  action or proceeding commenced  against You based on a claim that Electronic Access or the Proprietary Software infringe plaintiff(s)’s patent, copyright, or trade secret, provided
              that You (i) notify BNY Mellon promptly of any such action or claim (except that the failure to so notify BNY Mellon will not limit BNY Mellon’s obligations hereunder except to the extent that such failure prejudices BNY Mellon); (ii) grant
              BNY Mellon or its designated Affiliate full and exclusive authority to defend, compromise or settle such claim or action; and (iii) provide BNY Mellon or its designated Affiliate all assistance reasonably necessary to so defend, compromise or
              settle.  The foregoing obligations will not apply, however, to any claim or action arising from (i) use of the Proprietary Software Information or Electronic Access in a manner not authorized under these Terms and Conditions, the Terms of
              Use, or the Data Terms Web Site; or (ii) use of the Proprietary Software or Electronic Access in combination with other software or services not supplied by BNY Mellon.

          

    	7.	
            Limitation of Liability:

          

    	

          	a.	
            IN NO EVENT WILL BNY MELLON, BNY MELLON’S SUPPLIERS OR ITS  CONTENT PROVIDERS OR INFORMATION PROVIDERS BE LIABLE TO YOU OR ANYONE ELSE UNDER THESE TERMS AND CONDITIONS FOR ANY LOSSES,
              LIABILITIES, DAMAGES, COSTS OR EXPENSES INCLUDING BUT NOT LIMITED TO, ANY DIRECT DAMAGES, CONSEQUENTIAL DAMAGES, RELIANCE DAMAGES, EXEMPLARY DAMAGES, INCIDENTAL DAMAGES, SPECIAL DAMAGES, PUNITIVE DAMAGES, INDIRECT DAMAGES OR DAMAGES FOR LOSS
              OF PROFITS, GOOD WILL, BUSINESS INTERRUPTION, USE, DATA, EQUIPMENT OR OTHER INTANGIBLE LOSSES (EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) THAT RESULT FROM (1) THE USE OF OR INABILITY TO USE ELECTRONIC ACCESS (2) THE
              CONSEQUENCES OF ANY DECISION MADE OR ACTION OR NON-ACTION TAKEN BY YOU OR ANY OTHER PERSON, OR FOR ANY ERRORS BY YOU IN COMMUNICATING SUCH INFORMATION; (3) THE COST OF SUBSTITUTE ACCESS SERVICES; OR (4) ANY OTHER MATTER RELATING TO THE
              CONTENT OR ACCESS THROUGH ELECTRONIC ACCESS.  BNY MELLON WILL NOT BE LIABLE FOR LOSS, DAMAGE OR INJURY TO PERSONS OR PROPERTY ARISING FROM ANY USE OF ANY PRODUCT, INFORMATION, PROCEDURE, OR SERVICE OBTAINED THROUGH ELECTRONIC ACCESS.  BNY
              MELLON WILL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR INJURY RESULTING FROM VOLUNTARY SHUTDOWN OF THE SERVER, ELECTRONIC ACCESS OR ANY OF THE SITES TO ADDRESS TECHNICAL PROBLEMS, COMPUTER VIRUSES, DENIAL-OF-SERVICE MESSAGES OR OTHER SIMILAR
              PROBLEMS.

          

    	

          	b.	
            BNY MELLON’S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY UNDER THESE TERMS AND CONDITIONS FOR ANY DISPUTE OR CLAIM RELATED TO THESE TERMS OF USE, ELECTRONIC ACCESS OR SITES, IS AS FOLLOWS:  IF
              YOU REPORT A MATERIAL MALFUNCTION IN ELECTRONIC ACCESS THAT BNY MELLON IS ABLE TO REPRODUCE, BNY MELLON WILL USE REASONABLE EFFORTS TO CORRECT THE MALFUNCTION. IF BNY MELLON IS UNABLE TO CORRECT THE MALFUNCTION, YOU MAY CEASE ALL USE OF
              ELECTRONIC ACCESS AND RECEIVE A REFUND OF ANY FEES PAID IN ADVANCE, SPECIFICALLY FOR ELECTRONIC ACCESS, APPLICABLE TO PERIODS AFTER CESSATION OF

          

    
      
        

    

    SUCH USE.  BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR DAMAGES, IN SUCH JURISDICTIONS LIABILITY IS
      LIMITED TO THE FULLEST EXTENT PERMITTED BY LAW.

    	

          	c.	
            The limitation of liability set forth in this Limitation of Liability section and in other provisions in these Terms and Conditions is in addition to any limitation of liability provisions
              contained in any Services Agreements and will not supersede or be superseded by limitation of liability provisions contained in such Services Agreements, whether executed prior to or after the execution of these Terms and Conditions, except
              to the extent specifically set forth in such other Services Agreements containing a reference to these Terms and Conditions.

          

    	8.	
            Indemnification:

          

    	

          	a.	
            You agree to indemnify, protect and hold BNY Mellon, BNY Mellon’s Suppliers, Content Providers and Information Providers harmless from and against all liability, claims damages, costs and
              expenses, including reasonable and documented attorneys’ fees and expenses, resulting from a claim that arises out of (i) any breach by You or Users of these Terms and Conditions, the Terms of Use or the Data Terms Web Site and (ii) any
              person obtaining access to Electronic Access through You or Users or through use of any password, user-id or secure identification device issued to a User, whether or not You or a User authorized such access.  For the avoidance of doubt, and
              by way of illustration and not by way of limitation, the forgoing indemnity is applicable to disputes between the parties, including the enforcement of these Terms and Conditions.  The rights and remedies conferred hereunder will be
              cumulative and the exercise or waiver of any such right or remedy will not preclude or inhibit the exercise of additional rights or remedies or the subsequent exercise of such right or remedy.

          

    	

          	b.	
            The indemnity provided in herein is in addition to any indemnity and other remedies contained in any Services Agreements and will not supersede or be superseded by such Services Agreements,
              whether executed prior to or after the execution of these Terms and Conditions, except to the extent specifically set forth in such other Services Agreements and expressly stating an intent to modify this Terms and Conditions.  Nothing contained herein will, or be deemed to, alter or modify the rights and remedies of BNY Mellon as set forth in the Services Agreements.

          

    	9.	
            Choice of Law and Forum:  Unless otherwise agreed and specified herein, these Terms and Conditions are governed by and construed in accordance
              with the laws of the State of New York, without giving effect to any principles of conflicts of law; You expressly and irrevocably agree to the exclusive jurisdiction and venue of the state or federal courts situated in New York City, New
              York, for any claim or dispute with BNY Mellon, its employees, contractors, officers or directors or relating in any way to Your use of Electronic Access; and You further irrevocably agree and expressly and irrevocably consent to the exercise
              of personal jurisdiction in those courts over any action brought with respect to these Terms and Conditions.  BNY Mellon and You hereby waive the right of trial by jury in any action arising out of or related to the BNY Mellon or these Terms
              and Conditions.

          

    	10.	
            Term and Termination:

          

    	

          	a.	
            Either BNY Mellon or You may terminate these Terms and Conditions and the Electronic Access upon thirty (30) days’ written notice to the other party.

          

    	

          	b.	
            In the event of any breach of the provisions of these Terms and Conditions or a breach by any Authorized User of the Terms of Use or the restrictions and requirements concerning the use of
              Information Providers’ proprietary data that are posted on the Data Terms Web Site, the non-breaching party may terminate these Terms and Conditions and the Electronic Access immediately upon written notice to the breaching party if any
              breach remains uncured after ten (10) days’ written notice of the breach is sent to the breaching party.

          

    	

          	c.	
            BNY Mellon may immediately terminate access through an Authorized User’s user-id and password and may, at its discretion, also terminate access by an Authorized User, without right of cure, in
              the event of an unauthorized use of an Authorized User’s user-id or password, or where BNY Mellon believes there is a security risk created by such access.

          

    	

          	d.	
            BNY Mellon may terminate, without advance notice, Your access or the access of Users to any portion or component of Electronic Access or the Sites in the event a BNY Mellon Supplier, Content
              Provider or Information Provider prohibits BNY Mellon from permitting You or Users to have access to their information or services.

          

    	

          	e.	
            Promptly upon receiving or giving notice of termination, You will notify all Users of the effective date of the termination.

          

    	

          	f.	
            Upon termination of Your access to Electronic Access, You shall return of manuals, documentation, workflow descriptions and the like that are in Your possession or under Your control and all
              security identification devices.

          

    
      
        

    

    	

          	g.	
            The Reliance, Disclaimers, Limitation of Liability Indemnification and confidentiality provisions of the Terms and Conditions (and other provision of these Terms and Conditions containing
              disclaimers, limitation of liability and indemnification) shall survive the termination of these Terms and Conditions.

          

    You represent and warrant to BNY Mellon that these Terms and Conditions and the indemnity contained herein have been duly authorized and accepted, that You
      have full authority to enter into these Terms and Conditions, both for the entities at Schedule A and for any affiliate with Electronic Access, and that these Terms and Conditions constitute a binding obligation enforceable in accordance with its
      terms.

    

    

    
      
        

    

    SCHEDULE A to APPENDIX I

    Affiliates of ClientExhibit 10.4

  

   

  

  
    	
            

             

          	
            Execution Copy

             

             

             

          

    

    

    

    

    

    

    

    FUND ADMINISTRATION AND ACCOUNTING AGREEMENT

    THIS AGREEMENT is initially made as of May 11, 2021, as amended and restated as of June 29, 2022 by and between Sprott ESG Gold ETF, a statutory trust formed
      under the laws of the State of Delaware (the “Trust”), having its principal office and place of business at 320 Post Road, Suite 230, Darien, Connecticut 06820, and The Bank of New York Mellon, a New York corporation authorized to do a banking
      business (“BNY Mellon”).

    W I T N E S S E T H :

    WHEREAS, the Trust desires to retain BNY Mellon to provide the services described herein, and BNY Mellon is willing to provide such services, all as more fully
      set forth below;

    NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties hereby agree as follows:

    1.  Definitions.

    Whenever used in this Agreement, unless the context otherwise requires, the following words shall have the meanings set forth below:

    “1933 Act” means the Securities Act of 1933, as amended.

    “1934 Act” means the Securities Exchange Act of 1934, as amended.

    “Authorized Person” shall mean each person, whether or not an officer or an employee of the Trust, duly authorized to execute this
      Agreement and to give Instructions on behalf of the Trust as set forth in Exhibit A hereto and each Authorized Person’s scope of authority may be limited by setting forth such limitation in a written document signed by both parties hereto.  From time
      to time the Trust may deliver a new Exhibit A to add or delete any person and BNY Mellon shall be entitled to rely on the last Exhibit A actually received by BNY Mellon.

    “BNY Mellon Affiliate” shall mean any office, branch, or subsidiary of The Bank of New York Mellon Corporation.

    
      
        

    

    
     “Confidential Information” shall have the meaning given in Section 21 of this Agreement.

    “Documents” shall mean such documents as BNY Mellon may reasonably request from time to time, in connection with its provision of services under this
      Agreement.

    “Instructions” shall mean Oral Instructions or written communications actually received by BNY Mellon by S.W.I.F.T., tested telex, letter, facsimile
      transmission, electronic mail, or other method or system specified by BNY Mellon as available for use in connection with the services hereunder, from an Authorized Person or person believed in good faith to be an Authorized Person.

     “Net Asset Value” shall mean the value per Share of the Trust, calculated in the manner described in the Trust’s Offering Materials.

     “Offering Materials” shall mean the Trust’s currently effective prospectus and most recently filed registration statement with the SEC relating to shares
      of the Trust.

    “Organizational Documents” shall mean certified copies of the Trust’s trust agreement, material contracts, Offering Materials, all SEC exemptive orders
      issued to the Trust, required filings or similar documents of formation or organization, as applicable, delivered to and received by BNY Mellon.

    “Oral Instructions” shall mean oral instructions received by BNY Mellon under permissible circumstances specified by BNY Mellon, in its sole discretion,
      as being from an Authorized Person or person believed in good faith by BNY Mellon to be an Authorized Person.

    “SEC” means the United States Securities and Exchange Commission.

    

    

    “Securities Laws” means the 1933 Act and the 1934 Act.

    

    

    “Shares” means the shares issued by the Trust which represent fractional undivided beneficial interests in and ownership of the Trust.

    “Sponsor” means Sprott Asset Management LP, the sponsor of the Trust.

    
      2

      
        

    

    2.  Appointment.

    The Trust hereby appoints BNY Mellon as its agent for the term of this Agreement to perform the services described herein.  BNY Mellon hereby accepts such
      appointment and agrees to perform the duties hereinafter set forth.

    3.  Representations and Warranties.

    (a)  The Trust hereby represents and warrants to BNY Mellon, which representations and warranties shall be deemed to be continuing, that:

    I.  It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter
      into this Agreement and to perform its obligations hereunder;

    II.  This Agreement has been duly authorized, executed and delivered by the Trust and constitutes a valid and legally binding obligation of the Trust,
      enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors’ rights generally;

    III.  The Sponsor is in good standing and qualified to do business in each jurisdiction in which the nature or conduct of its business requires such
      qualification.

    IV.  It is conducting its business in material compliance with all applicable laws and regulations, both state and federal, has made and will continue to make
      all necessary filings including tax filings and has obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted; there is no statute, regulation, rule, order or judgment binding on it and no provision
      of its Organizational Documents, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property which would prohibit its execution or performance of this Agreement;

    V.  The method of valuation of assets of the Trust and the method of computing the Net Asset Value shall be as set forth in the Offering Materials of the Trust. 
      To the extent that the Trust becomes aware that the performance of any services described in Schedule I attached hereto by BNY Mellon in accordance with the then effective Offering Materials for the

    
      3

      
        

    

    Trust would violate any applicable laws or regulations, the Trust shall promptly notify BNY Mellon in writing and thereafter shall either furnish BNY Mellon with the appropriate
      values of the assets of the Trust, Net Asset Value or other computation, as the case may be, or, instruct BNY Mellon in writing to value the assets of the Trust and/or compute Net Asset Value or other computations in a manner the Trust specifies in
      writing, and either the furnishing of such values or the giving of such instructions shall constitute a representation by the Trust that the same is consistent with all applicable laws and regulations and with its Offering Materials, all subject to
      confirmation by BNY Mellon as to its capacity to act in accordance with the foregoing;

    VI.  The terms of this Agreement, the fees and expenses associated with this Agreement and any benefits accruing to BNY Mellon or to the Sponsor in connection
      with this Agreement, including but not limited to any fee waivers, conversion cost reimbursements, upfront payments, signing payments or periodic payments made or to be made by BNY Mellon to the Sponsor or any affiliate of the Sponsor relating to
      this Agreement have been fully disclosed to the Sponsor and that, if required by applicable law, the Sponsor has approved or will approve the terms of this Agreement, any such fees and expenses and any such benefits;

    VII.  Each person named on Exhibit A hereto is duly authorized by the Trust to be an Authorized Person hereunder; and

    
      VIII.  It has implemented, and is acting in accordance with, procedures reasonably designed to ensure that it will disseminate to all market participants, other than Authorized Participants (as defined in its Offering
        Materials), each calculation of Net Asset Value provided by BNY hereunder to Authorized Participants at the time BNY Mellon provides such calculation to Authorized Participants.

    

    (b)  Without limiting the provisions of Section 21 herein, the Trust shall treat as confidential the terms and conditions of this Agreement
      and shall not disclose nor authorize disclosure thereof to any other person, except (i) to its employees, regulators, examiners, internal and external accountants, auditors, and counsel, (ii) for a summary description of this Agreement in the
      Offering Materials with the prior written approval of BNY Mellon, (iii) to any other person when required by a court order or legal process, or (iv) whenever advised by its counsel

    
      4

      
        

    

    that it would be liable for a failure to make such disclosure.  The Trust shall instruct its employees, regulators, examiners, internal and external
      accountants, auditors, and counsel who may be afforded access to such information of the Trust’s obligations of confidentiality hereunder; and

    (c)  The Trust will promptly notify BNY Mellon in writing of any and all legal proceedings or securities investigations filed or commenced
      against the Trust.

    (d)  BNY Mellon hereby represents and warrants, which representations and warranties shall be deemed to be continuing, that:

    I.  It is duly organized and existing under the laws of the jurisdiction of its
      organization with full power to carry on its business as now conducted, to enter into this Agreement, and to perform its obligations hereunder;

    II.  This Agreement has been duly authorized, executed and delivered by BNY Mellon
      and constitutes a valid and legally binding obligation of BNY Mellon, enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting
      creditors’ rights generally;

    III.  It is conducting its business in material compliance with all applicable laws and requirements, both state and federal, and has obtained all regulatory
      licenses, approvals and consents necessary for it to engage in the provision of the services contemplated by this Agreement and there is no statute, regulation, rule, order, or judgment binding on it and no provision of its Organizational Documents,
      nor of any mortgage, indenture, credit agreement, or other contract binding on it or affecting its property which would prohibit its execution or performance of this Agreement; and

    IV.   During the term of this Agreement, it will implement and maintain an information security program (“ISP”) with written policies and procedures reasonably
      designed to protect the confidentiality and integrity of the confidential information of the Trust provided to BNY Mellon in accordance with this Agreement and when in BNY Mellon’s possession or under BNY Mellon’s control; the ISP will include
      administrative, technical and physical safeguards appropriate to the type of confidential information concerned, reasonably

    
      5

      
        

    

    designed to protect the integrity, confidentiality and availability of the Trust’s confidential information and to prevent unauthorized access to or use of such confidential
      information.

    4.  Delivery of Documents.

    The Trust shall promptly provide, deliver, or cause to be delivered from time to time, to BNY Mellon the Trust’s Organizational Documents, a copy of any and all
      SEC exemptive orders issued to the Trust, and Documents and other materials used in the distribution of the Shares and all amendments thereto as may be necessary for BNY Mellon to perform its duties hereunder.  BNY Mellon shall not be deemed to have
      notice of any information (other than information supplied by BNY Mellon) contained in such Organizational Documents, Documents or other materials until they are actually received by BNY Mellon.

    5.  Duties and Obligations of BNY Mellon.

    (a)  Subject to the direction and control of the Trust and the provisions of this Agreement, BNY Mellon shall provide to the Trust the
      administrative services and the valuation and computation services listed on Schedule I attached hereto, as it may be amended by the parties from time to time.

    (b)  In performing hereunder, BNY Mellon shall provide, at its expense, office space, facilities, equipment and personnel.

    (c)  BNY Mellon shall not provide any services relating to the management, investment advisory or sub-advisory functions of the Trust,
      distribution of the Shares of the Trust, maintenance of the Trust’s financial records or other services normally performed by the Trust’s counsel or independent auditors and the services provided by BNY Mellon do not constitute, nor shall they be
      construed as constituting, legal advice or the provision of legal services for or on behalf of the Trust or any other person, and the Trust acknowledges that BNY Mellon does not provide public accounting or auditing services or advice and will not be
      making any tax filings, or doing any tax reporting on its behalf, other than those specifically agreed to hereunder.  The scope of services provided by BNY Mellon under this Agreement shall not be increased as a result of new or revised regulatory or
      other requirements that may become applicable with respect to the Trust, unless the parties hereto expressly agree in writing to any such increase in the scope of services.

    
      6

      
        

    

    (d)  The Trust shall cause its officers, advisors, the Sponsor, distributor, independent accountants, current administrator (if any),
      transfer agent, and any other service provider to cooperate with BNY Mellon and to provide BNY Mellon, upon request, with such information, documents and advice relating to the Trust as is within the possession or knowledge of such persons, and which
      in the opinion of BNY Mellon, is necessary in order to enable BNY Mellon to perform its duties hereunder.  In connection with its duties hereunder, BNY Mellon shall not be responsible for, under any duty to inquire into, or be deemed to make any
      assurances with respect to the accuracy, validity or propriety of any information, documents or advice provided to BNY Mellon by any of the aforementioned persons.  BNY Mellon shall not be liable for any loss, damage or expense resulting from or
      arising out of the failure of the Trust to cause any information, documents or advice to be provided to BNY Mellon as provided herein and shall be held harmless by the Trust when acting in reliance upon such information, documents or advice relating
      to the Trust.  All fees or costs charged by such persons shall be borne by the Trust.  In the event that any services performed by BNY Mellon hereunder rely, in whole or in part, upon information obtained from a third party service utilized or
      subscribed to by BNY Mellon which BNY Mellon in its reasonable judgment deems reliable, BNY Mellon shall not have any responsibility or liability for, under any duty to inquire into, or deemed to make any assurances with respect to, the accuracy or
      completeness of such information.

    (e)  Nothing in this Agreement shall limit or restrict BNY Mellon, any BNY Mellon Affiliate or any officer or employee thereof from acting
      for or with any third parties, and providing services similar or identical to same or all of the services provided hereunder.

    (f)  The Trust shall furnish BNY Mellon with any and all instructions, explanations, information, specifications and documentation deemed
      necessary by BNY Mellon in the performance of its duties hereunder, including, without limitation, the amounts or written formula for calculating the amounts and times of accrual of the Trust’s liabilities and expenses, and the value of any
      securities lending related collateral investment account(s).  BNY Mellon shall not be required to include as Trust liabilities and expenses, nor as a reduction of Net Asset Value, any accrual for any federal, state, or foreign income taxes unless the
      Trust shall have specified to BNY Mellon in Instructions the precise amount of the same to be included in liabilities and expenses or used to reduce Net Asset Value.  The Trust shall also furnish BNY Mellon with bid, offer, or market values of
      securities if BNY Mellon notifies the Trust that same

    
      7

      
        

    

    are not available to BNY Mellon from a security pricing or similar service utilized, or subscribed to, by BNY Mellon which the Trust directs BNY Mellon to
      utilize, and which BNY Mellon in its judgment deems reliable at the time such information is required for calculations hereunder.  At any time and from time to time, the Trust also may furnish BNY Mellon with bid, offer, or market values of
      securities and instruct BNY Mellon in Instructions to use such information in its calculations hereunder.  BNY Mellon shall at no time be required or obligated to commence or maintain any utilization of, or subscriptions to, any securities pricing or
      similar service.  In no event shall BNY Mellon be required to determine, or have any obligations with respect to, whether a market price represents any fair or true value, nor to adjust any price to reflect any events or announcements, including,
      without limitation, those with respect to the issuer thereof, it being agreed that all such determinations and considerations shall be solely for the Trust.

    (g)  BNY Mellon may apply to an Authorized Person of the Trust for Instructions with respect to any matter arising in connection with BNY
      Mellon’s performance hereunder for the Trust, and BNY Mellon shall not be liable for any action taken or omitted to be taken by it in good faith without gross negligence or willful misconduct in accordance with such Instructions.  Such application
      for Instructions may, at the option of BNY Mellon, set forth in writing any action proposed to be taken or omitted to be taken by BNY Mellon with respect to its duties or obligations under this Agreement and the date on and/or after which such action
      shall be taken.  BNY Mellon shall not be liable for any action taken or omitted to be taken in accordance with a proposal included in any such application on or after the date specified therein unless, prior to taking or omitting to take any such
      action, BNY Mellon has received Instructions from an Authorized Person in response to such application specifying the action to be taken or omitted.

    (h)  BNY Mellon may consult with counsel to the Trust or its own external counsel, at the Trust’s expense, with respect to any matter
      arising in connection with the services to be performed by BNY Mellon under this Agreement and shall be fully protected with respect to anything done or omitted by it in good faith in accordance with the written advice or opinion of such counsel.

    (i)  Notwithstanding any other provision contained in this Agreement or Schedule I attached hereto, BNY Mellon shall have no duty or
      obligation with respect to,

    
      8

      
        

    

    including, without limitation, any duty or obligation to determine, or advise or notify the Trust of: (i) the taxable nature of any distribution or amount received or deemed
      received by, or payable to, the Trust, (ii) the taxable nature or effect on the Trust or its shareholders of any corporate actions, class actions, tax reclaims, tax refunds or similar events, (iii) the taxable nature or taxable amount of any
      distribution or dividend paid, payable or deemed paid, by the Trust to its shareholders; or (iv) the effect under any federal, state, or foreign income tax laws of the Trust making or not making any distribution or dividend payment, or any election
      with respect thereto.  Further, BNY Mellon is not responsible for the identification of securities requiring U.S. tax treatment that differs from treatment under U.S. generally accepted accounting principles.  BNY Mellon is solely responsible for
      processing such securities, as identified by the Trust or its Authorized Persons, in accordance with U.S. tax laws and regulations.

    (j)  BNY Mellon shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in
      this Agreement and Schedule I attached hereto, and no covenant or obligation shall be implied against BNY Mellon in connection with this Agreement.

    (k)  BNY Mellon, in performing the services required of it under the terms of this Agreement, shall be entitled to rely fully on the
      accuracy and validity of any and all Instructions, explanations, information, specifications, Documents and documentation furnished to it by the Trust and shall have no duty or obligation to review the accuracy, validity or propriety of such
      Instructions, explanations, information, specifications, Documents or documentation, including, without limitation, evaluations of securities; the amounts or formula for calculating the amounts and times of accrual of the Trust’s liabilities and
      expenses; the amounts receivable and the amounts payable on the sale or purchase of securities; and amounts receivable or amounts payable for the sale or redemption of the Shares effected by or on behalf of the Trust.  In the event BNY Mellon’s
      computations hereunder rely, in whole or in part, upon information, including, without limitation, bid, offer or market values of securities or other assets, or accruals of interest or earnings thereon, from a pricing or similar service utilized, or
      subscribed to, by BNY Mellon which the Trust directs BNY Mellon to utilize, and which BNY Mellon in its judgment deems reliable, BNY Mellon shall not be responsible for, under any duty to inquire into, or deemed to make any assurances with respect
      to, the accuracy or completeness of such information.  Without limiting the generality of the foregoing, BNY Mellon shall not be

    
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    required to inquire into any valuation of securities or other assets by the Trust or any third party described in this sub-section (k) even though BNY Mellon in performing services
      similar to the services provided pursuant to this Agreement for others may receive different valuations of the same or different securities of the same issuers.

    (l)  BNY Mellon, in performing the services required of it under the terms of this Agreement, shall not be responsible for determining
      whether any interest accruable to the Trust is or will be actually paid, but will accrue such interest until otherwise instructed by the Trust.

    (m)  BNY Mellon shall not be responsible for damages (including without limitation damages caused by delays, failure, errors, interruption
      or loss of data) which occurring directly or indirectly by reason of circumstances beyond its reasonable control in the performance of its duties under this Agreement, including, without limitation, labor difficulties within or without BNY Mellon,
      mechanical breakdowns, flood or catastrophe, acts of God, failures of transportation, interruptions, loss, or malfunctions of utilities, action or inaction of civil or military authority, national emergencies, public enemy, war, terrorism, riot,
      sabotage, non-performance by a third party, failure of the mails, communications, computer (hardware or software) services, or functions or malfunctions of the internet, firewalls, encryption systems or security devices caused by any of the above.
      Upon the occurrence of any such delay or failure BNY Mellon shall use commercially reasonable efforts to resume performance as soon as practicable under the circumstances.  Nor shall BNY Mellon be responsible for delays or failures to supply the
      information or services specified in this Agreement where such delays or failures are caused by the failure of any person(s) other than BNY Mellon to supply any instructions, explanations, information, specifications or documentation deemed necessary
      by BNY Mellon in the performance of its duties under this Agreement.

    (n)  BNY Mellon will implement business continuity and disaster recovery plans designed to minimize interruptions of service and ensure
      recovery of systems and applications used to provide the Services.  Such plans shall cover the facilities, systems, applications and employees that are critical to the provision of the Services, and will be tested at least annually to validate that
      the recovery strategies, requirements and protocols are viable and sustainable.

    
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    6.  Allocation of Expenses.

    Except as otherwise provided herein, all costs and expenses arising or incurred in connection with the performance of this Agreement shall be paid by the Trust,
      including but not limited to, organizational costs and costs of maintaining corporate existence, taxes, interest, brokerage fees and commissions, insurance premiums, compensation and expenses of the Trust’s trustees, directors, officers or employees,
      legal, accounting and audit expenses, management, advisory, sub-advisory, administration and shareholder servicing fees, charges of custodians, transfer and dividend disbursing agents, expenses (including clerical expenses) incident to the issuance,
      redemption or repurchase of the Shares, fees and expenses incident to the registration or qualification under the Securities Laws, state or other applicable securities laws to the Trust or its Shares, costs (including printing and mailing costs) of
      preparing and distributing Offering Materials, reports, notices and proxy material to the Trust’s shareholders or members, as applicable, all expenses incidental to holding meetings of the Trust’s trustees, directors and shareholders, and
      extraordinary expenses as may arise, including litigation affecting the Trust and legal obligations relating thereto for which the Trust may have to indemnify its trustees, directors, officers, managers, and/or members, as may be applicable.

    7.  Reserved.

    8.  Regulatory Administration Services.

    (a)  If Schedule I contains a requirement for BNY Mellon to provide the Trust with compliance support services and/or Regulatory
      Administration services, such services shall be provided pursuant to the terms of this Section 8 (such services, collectively hereinafter referred to as the “Regulatory Support Services”).

    (b)  Notwithstanding anything in this Agreement to the contrary, the Regulatory Support Services provided by BNY Mellon under this Agreement
      are administrative in nature and do not constitute, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf of the Trust or any other person.

    (c)  All work product produced by BNY Mellon in connection with its provision of Regulatory Support Services under this Agreement is subject
      to review and approval

    
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    by the Trust and by the Sponsor’s legal counsel.  The Regulatory Support Services performed by BNY Mellon under this Agreement will be at the request and direction of the Trust
      and/or its officers or other Authorized Persons, as applicable.  BNY Mellon disclaims liability to the Trust, and the Trust is solely responsible, for the selection, qualifications and performance of the Trust’s officers or other Authorized Persons
      and the adequacy and effectiveness of the Trust’s compliance program.

    9.  Standard of Care; Indemnification.

    (a)  In performing all of its duties and obligations hereunder, BNY Mellon shall exercise the standard of care and diligence that a
      professional service provider would observe in the provision of the services rendered pursuant to this Agreement. Except as otherwise provided herein, BNY Mellon and any BNY Mellon Affiliate shall not be liable for any and all costs, losses, charges,
      expenses, damages, liabilities or claims, including reasonable and documented attorneys’ and accountants’ fees and expenses (collectively, “Losses”) incurred by or asserted against the Trust, except those Losses arising out of BNY Mellon’s own gross
      negligence, bad faith or willful misconduct.  In no event shall BNY Mellon or any BNY Mellon Affiliate be liable for any special, indirect or consequential damages, or lost profits or loss of business, arising under or in connection with this
      Agreement, even if previously informed of the possibility of such damages and regardless of the form of action.  BNY Mellon and any BNY Mellon Affiliate shall not be liable for any Losses resulting from, arising out of, or in connection with its
      performance hereunder, including its actions or omissions, the incompleteness or inaccuracy of any specifications or other information furnished by the Trust, unless such Losses arise out of the bad faith, gross negligence or willful misconduct of
      BNY Mellon, nor shall BNY Mellon be liable for any Losses for delays caused by circumstances beyond the reasonable control of BNY Mellon or any agent of BNY Mellon and which adversely affect the performance by BNY Mellon of its obligations and duties
      hereunder or by any other agent of BNY Mellon.

    (b)  The Trust agrees to indemnify BNY Mellon and any BNY Mellon Affiliate (the “Indemnities”) and agrees to hold the Indemnities harmless
      from and against any and all Losses sustained or incurred by or asserted against an Indemnitee by reason of or as a result of any action taken or omitted to be taken by any Indemnitee or otherwise  or in reliance upon (i) any law, act, regulation or
      interpretation of the same even though the same may

    
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    thereafter have been altered, changed, amended or repealed, (ii) the Trust’s Offering Materials or Documents (excluding information provided by BNY Mellon), (iii) any Instructions,
      or (iv) any opinion of legal counsel for the Trust or BNY Mellon, or arising out of transactions or other activities of the Trust which occurred prior to the commencement of this Agreement; provided, however, that the Trust shall not
      indemnify any Indemnitee for any Losses arising out of such Indemnitee’s own bad faith, gross negligence or willful misconduct in the performance of this Agreement.   This indemnity shall be a continuing obligation of the Trust, its successors and
      assigns, notwithstanding the termination of this Agreement. Without limiting the generality of the foregoing, the Trust shall indemnify the Indemnitees against and save the Indemnitees harmless from any loss, damage or expense, including reasonable
      and documented counsel fees and other costs and expenses of a defense against any claim or liability, arising from any one or more of the following:

    I.  Errors in records or instructions, explanations, information, specifications or documentation of any kind, as the case may be, supplied to BNY Mellon by or
      on behalf of the Trust;

    II.  Action or inaction taken or omitted to be taken by BNY Mellon or any BNY Mellon Affiliate pursuant to Instructions of the Trust or otherwise without gross
      negligence, bad faith or willful misconduct;

    III.  Any action taken or omitted to be taken by BNY Mellon in good faith in accordance with the advice or opinion of counsel for the Trust or its own counsel,
      provided that such written advice or opinion of counsel is obtained in accordance with Section 5(h);

    IV.  Any improper use by the Trust or its agents, distributor or Sponsor of any valuations or computations supplied by BNY Mellon pursuant to this Agreement;

    V.  The method of valuation of the securities and the method of computing the Net Asset Value of the Trust and the Shares; or

    VI.  Any valuations of securities, other assets, or the Net Asset Value provided by the Trust.

    (c)  Actions taken or omitted in reliance on Instructions or upon any

    
      13

      
        

    

    information, order, indenture, stock certificate, membership certificate, power of attorney, assignment, affidavit or other instrument believed by BNY Mellon
      in good faith to be from an Authorized Person, or upon the opinion of legal counsel for the Trust or its own counsel, shall be conclusively presumed to have been taken or omitted in good faith.

    10.  Compensation.

    For the services provided hereunder, the Trust agrees to pay BNY Mellon such compensation as is mutually agreed to in writing by the Trust and BNY Mellon from
      time to time and such reasonable out-of-pocket expenses (e.g., telecommunication charges, postage and delivery charges, costs of independent compliance reviews, record retention costs, reproduction charges and transportation and lodging costs)
      as are incurred by BNY Mellon in performing its duties hereunder.  Except as hereinafter set forth, compensation shall be calculated and accrued daily and paid monthly.  The Trust authorizes BNY Mellon to debit the Trust’s custody account for all
      amounts due and payable hereunder.  BNY Mellon shall deliver to the Trust invoices for all services rendered.  Upon termination of this Agreement before the end of any month, the compensation for such part of a month shall be prorated according to
      the proportion which such period bears to the full monthly period and shall be payable upon the effective date of termination of this Agreement.  For the purpose of determining compensation payable to BNY Mellon, the Trust’s Net Asset Value shall be
      computed at the times and in the manner specified in the Trust’s Offering Materials.

    11.  Records; Visits.

    (a)  The books and records pertaining to the Trust which are in the possession or under the control of BNY Mellon shall be the property of
      the Trust.  The Trust and Authorized Persons shall have access to such books and records at all times during BNY Mellon’s normal business hours.  Upon the reasonable request of the Trust, copies of any such books and records shall be promptly
      provided by BNY Mellon to the Trust or to an Authorized Person, at the Trust’s expense.  BNY Mellon will promptly deliver to the Trust or to any designated third party the Trust’s books and records created and maintained by BNY Mellon as well as any
      books and records of the Trust maintained but not created by BNY Mellon.

    (b)  BNY Mellon shall keep all (i) books and records with respect to the Trust’s books of account, (ii) records of the Trust’s transactions
      in securities and other assets, and (iii) all other

    
      14

      
        

    

    books and records as required pursuant to Section 31 of the Investment Company Act of 1940, as amended, and rules thereunder, as if the Trust were subject to
      such requirements, and will maintain those books and records of the Trust according to such requirements.

    12.  Term of Agreement.

    (a)  This Agreement shall be effective on the date first written above and, unless terminated pursuant to its terms, shall continue until
      11:59 PM on the date which is the third anniversary of such date (the “Initial Term”) and shall automatically renew in accordance with Section 12(b) below unless otherwise terminated in accordance with this Agreement.

    (b)  This Agreement shall automatically renew for successive terms of one (1) year each (each, a “Renewal Term”), unless the Trust or BNY
      Mellon gives written notice to the other party of its intent not to renew and such notice is received by the other party not less than ninety (90) days prior to the expiration of the Initial Term or the then-current Renewal Term (a “Non-Renewal
      Notice”).  In the event a party provides a Non-Renewal Notice, this Agreement shall terminate at 11:59 PM (Eastern Time Zone) on the last day of the Initial Term or Renewal Term, as applicable.

    (c)  If a party materially breaches this Agreement (a “Defaulting Party”) the other party (the “Non‐Defaulting Party”) may give written
      notice thereof to the Defaulting Party (“Breach Notice”), and if such material breach shall not have been remedied within thirty (30) days after the Breach Notice is given, then the Non Defaulting Party may terminate this Agreement by giving written
      notice of termination to the Defaulting Party (“Breach Termination Notice”), in which case this Agreement shall terminate as of 11:59 PM (Eastern Time Zone) on the thirtieth (30th) day following the date the Breach Termination Notice is
      given, or such later date as may be specified in the Breach Termination Notice (but not later than the last day of the Initial Term or then-current Renewal Term, as appropriate). In all cases, termination by the Non‐Defaulting Party shall not
      constitute a waiver by the Non‐Defaulting Party of any other rights it might have under this Agreement or otherwise against the Defaulting Party.

    (d)  Notwithstanding any other provision of this Agreement, either party may in its sole discretion terminate this Agreement immediately by
      sending notice thereof to the other party upon the happening of any of the following: (i) a party commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there is commenced against such

    
      15

      
        

    

    party any such case or proceeding; (ii)  a party commences as debtor any case or proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar
      official for such party or any substantial part of its property or there is commenced against such party any such case or proceeding; (iii) a party makes a general assignment for the benefit of creditors; or (iv) a party admits in any recorded
      medium, written, electronic or otherwise, its inability to pay its debts as they come due.  A termination right may be exercised under this Section 12(d) at any time after the occurrence of any of the foregoing events notwithstanding that such event
      may cease to be continuing prior to such exercise, and any delay in exercising this right shall not be construed as a waiver or other extinguishment of that right.  Any exercise by a party of its termination right under this Section 12(d) shall be
      without any prejudice to any other remedies or rights available to such party and shall not be subject to any fee or penalty, whether monetary or equitable.  Notwithstanding the provisions of Section 18, notice of termination under this Section 12(d)
      shall be considered given and effective when given, not when received.

    (e)  Notwithstanding any provision in this agreement to the contrary, in the event this Agreement terminates or expires at the end of a
      calendar quarter, other than as a result of a termination described in Sections 12(c) and 12(d) above, each of the Trust and BNY Mellon agrees that BNY Mellon shall provide assistance to the Trust solely with respect to the preparation and filing of
      the applicable Form 10-K or 10-Q (the “Reporting Service”), and, notwithstanding the termination of expiration of this Agreement, such Reporting Services shall be performed subject to the terms and conditions of this Agreement relating to the duties
      and obligations of BNY Mellon and the Trust as if this Agreement had not terminated or expired. In connection with the provision of the Reporting Service, BNY Mellon shall be entitled to reasonable compensation for such Reporting Services subject to
      and in accordance with Section 10 of this Agreement. Upon completion of the Reporting Service, the Agreement shall terminate in accordance with its terms.  For the avoidance of doubt, BNY Mellon shall not be obligated to perform the Reporting Service
      in the event of a termination of this Agreement pursuant to Section 12(c) or Section 12(d) above.

    13.  Amendment.

    This Agreement may not be amended, changed or modified in any manner except by a written agreement executed by BNY Mellon and the Trust.

    
      16

      
        

    

    14.  Assignment; Subcontracting.

    (a)  This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and assigns; provided,
      however, that this Agreement shall not be assignable or delegable by either party without the written consent of the other party.

    (b)   Notwithstanding the foregoing: (i) BNY Mellon may assign or transfer this Agreement to any BNY Mellon Affiliate or transfer this
      Agreement in connection with a sale of a majority or more of its assets, equity interests or voting control, provided that BNY Mellon gives the Trust thirty (30) days' prior written notice of such assignment or transfer and such assignment or
      transfer does not impair the provision of services under this Agreement in any material respect, and the assignee or transferee agrees to be bound by all terms of this Agreement in place of BNY Mellon; (ii) BNY Mellon may subcontract with, hire,
      engage or otherwise outsource to any BNY Mellon Affiliate with respect to the performance of any one or more of the functions, services, duties or obligations of BNY Mellon under this Agreement but any such subcontracting, hiring, engaging or
      outsourcing shall not relieve BNY Mellon of any of its liabilities hereunder; (iii) BNY Mellon may subcontract with, hire, engage or otherwise outsource to an unaffiliated third party with respect to the performance of any one or more of the
      functions, services, duties or obligations of BNY Mellon under this Agreement but any such subcontracting, hiring, engaging or outsourcing shall (A) require the prior written consent of the Trust and (B) limit BNY Mellon’s liability such that BNY
      Mellon shall only be liable for  failure to reasonably select such unaffiliated third party, and BNY Mellon shall have no liability for any acts or omissions to act of such unaffiliated third party; and (iv) BNY Mellon, in the course of providing
      certain additional services requested by the Trust, including but not limited to, Typesetting services (“Vendor Eligible Services”) as further described in Schedule I, may in its sole discretion, enter into an agreement or agreements with a financial
      printer, or electronic services provider (“Vendor”) to provide BNY Mellon with the ability to generate certain reports or provide certain functionality.  BNY Mellon shall not be obligated to perform any of the Vendor Eligible Services unless an
      agreement between BNY Mellon and the Vendor for the provision of such services is then-currently in effect, and shall only be liable for the failure to reasonably select the Vendor.  Upon request, BNY Mellon will disclose the identity of the Vendor
      and the status of the contractual relationship, and the Trust is free to attempt to contract

    
      17

      
        

    

    directly with the Vendor for the provision of the Vendor Eligible Services.

    (c)  As compensation for the Vendor Eligible Services rendered by BNY Mellon pursuant to this Agreement, the Trust will pay to BNY Mellon
      such fees as may be agreed to in writing by the Trust and BNY Mellon.  In turn, BNY Mellon will be responsible for paying the Vendor’s fees.  For the avoidance of doubt, BNY Mellon anticipates that the fees it charges hereunder will be more than the
      fees charged to it by the Vendor, and BNY Mellon will retain the difference between the amount paid to BNY Mellon hereunder and the fees BNY Mellon pays to the Vendor as compensation for the additional services provided by BNY Mellon in the course of
      making the Vendor Eligible Services available to the Trust.

    15.  Governing Law; Consent to Jurisdiction.

    This Agreement shall be construed in accordance with the laws of the State of New York, without regard to conflict of laws principles thereof. 
      The Trust hereby consents to the non-exclusive jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder, and waives to the fullest extent permitted by law its right to a trial by
      jury.  To the extent that in any jurisdiction the Trust may now or hereafter be entitled to claim, for itself or its assets, immunity from suit, execution, attachment (before or after judgment) or other legal process, the Trust irrevocably agrees not
      to claim, and it hereby waives, such immunity.

    16. Severability.

    In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
      legality and enforceability of the remaining provisions or obligations shall not in any way be affected or impaired thereby, and if any provision is inapplicable to any person or circumstances, it shall nevertheless remain applicable to all other
      persons and circumstances.

    17.  No Waiver.

    Each and every right granted to either party hereunder or under any other document delivered hereunder or in connection herewith, or allowed it
      by law or equity, shall be cumulative and may be exercised from time to time.  No failure on the part of either party to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any

    
      18

      
        

    

    single or partial exercise by such party of any right preclude any other or future exercise thereof or the exercise of any other right.

    18.  Notices.

    All notices, requests, consents and other communications pursuant to this Agreement in writing shall be sent as follows:

    if to the Trust, at

    Sprott ESG Gold ETF

    c/o Sprott Asset Management LP

    320 Post Road, Suite 230

    Darien, Connecticut 06820

    Attention: Whitney George

    Email: wgeorge@sprottusa.com

    

    

    if to BNY Mellon, at

    BNY Mellon

       240 Greenwich Street

       New York, New York 10286

       Attention: ETF Operations

    with a copy to:

    The Bank of New York Mellon

         240 Greenwich Street

         New York, New York 10286

         Attention: Legal Dept. – Asset Servicing

    

    or at such other place as may from time to time be designated in writing.  Notices hereunder shall be effective upon receipt.

    19.  Counterparts.

    This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original; but such counterparts together shall constitute
      only one instrument.

    
      19

      
        

    

    20.  Reserved.

    21.  Confidentiality.

    (a)  Each party shall keep confidential any information relating to the other party’s business (including, without limitation, the business
      of the Sponsor) (“Confidential Information”).  Confidential Information shall include this Agreement and (a) any data or information that is competitively sensitive material, and not generally known to the public, including, but not limited to,
      information about product plans, marketing strategies, finances, operations, customer relationships, customer profiles, customer lists, sales estimates, business plans, and internal performance results relating to the past, present or future business
      activities of the Trust or BNY Mellon and their respective subsidiaries and affiliated companies; (b) any scientific or technical information, design, process, procedure, formula, or improvement that is commercially valuable and secret in the sense
      that its confidentiality affords the Trust or BNY Mellon a competitive advantage over its competitors; (c) all confidential or proprietary concepts, documentation, reports, data, specifications, computer software, source code, object code, flow
      charts, databases, inventions, know‐how, and trade secrets, whether or not patentable or copyrightable; and (d) anything designated as confidential.  Notwithstanding the foregoing, information shall not be Confidential Information and shall not be
      subject to such confidentiality obligations if it: (a) is already known to the receiving party at the time it is obtained; (b) is or becomes publicly known or available through no wrongful act of the receiving party; (c) is rightfully received from a
      third party who, to the best of the receiving party’s knowledge, is not under a duty of confidentiality; (d) is released by the protected party to a third party without restriction; (e) is requested or required to be disclosed by the receiving party
      pursuant to a court order, subpoena, governmental or regulatory agency request or law or regulation, provided, however, the party making such required disclosure shall first notify the other party (to the extent permissible) and shall, if
      practicable, afford the other party a reasonable opportunity to seek confidential treatment if it wishes to do so; (f) is relevant to the defense of any claim or cause of action asserted against the receiving party; (g) is Trust information provided
      by BNY Mellon in connection with an independent third party compliance or other review; (h) is released in connection with the provision of services under this Agreement; or (i) has been or is

    
      20

      
        

    

    independently developed or obtained by the receiving party.  The provisions of this Section 20 shall survive termination of this Agreement for a period of one (1) year after such termination.

    (b)  The Bank of New York Mellon Corporation is a global financial organization that provides services to clients through its affiliates and
      subsidiaries in multiple jurisdictions (the “BNY Mellon Group”).  The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration, product communication, relationship management, storage,
      compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely in connection with the Centralized Functions, (i) the Trust
      consents to the disclosure of and authorizes BNY Mellon to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party service providers who are subject to confidentiality obligations with respect
      to such information and (ii) BNY Mellon may store the names and business contact information of the Trust’s employees and representatives on the systems or in the records of the BNY Mellon Group or its service providers. The BNY Mellon Group may
      aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the contrary the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon
      Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer.  The Trust confirms that it is authorized to consent to the foregoing.

    22.  Non-Solicitation.

    During the term of this Agreement and for one (1) year thereafter, the Trust shall not (with the exceptions noted in the immediately succeeding sentence) knowingly solicit or recruit
      for employment or hire any of BNY Mellon’s employees, and the Trust shall cause the Trust’s sponsor and any affiliates of the Trust to not (with the exceptions noted in the immediately succeeding sentence) knowingly solicit or recruit for employment
      or hire any of BNY Mellon’s employees.  To “knowingly” solicit, recruit or hire within the meaning of this provision does not include, and therefore does not prohibit, solicitation, recruitment or hiring of a BNY Mellon employee by the Trust, the
      Trust’s sponsor or an affiliate of the Trust if the BNY Mellon employee was identified by such entity solely as a result of the BNY Mellon employee’s

    
      21

      
        

    

    response to a general advertisement by such entity in a publication of trade or industry interest or other similar general solicitation by such entity.

    

    

    

    

    [Signature page follows.]

    
      22

      
        

    

    IN WITNESS WHEREOF, the parties hereto have caused the foregoing instrument to be executed by their duly authorized officers and their seals to be hereunto
      affixed, all as of the latest date set forth below.

    
      	 	
              SPROTT ESG GOLD ETF, by Sprott Asset Management LP, its sponsor

            
	 	 
	 	 
	 	
              By:

            	
              /s/  

              

            	
              Whitney George

            
	 	
              Name:

            	
              Whitney George

            
	 	
              Title:

            	
              Director

            
	 	
              Date:

            	
              July 4, 2022

            

    

    

    

    

    

    
      
        	

              	
                THE BANK OF NEW YORK MELLON

              
	 	 
	 	 
	 	
                By:

              	
                /s/  

                

              	
                Michael Spates

              
	 	
                Name:

              	
                Michael Spates

              
	 	
                Title:

              	
                Vice President

                

              
	 	
                Date:

              	
                July 20, 2022

              

      

      

      

    

    

    

    

    

    
      23

      
        

    

    EXHIBIT A

    I, John Ciampaglia, of Sprott Asset Management LP, the sponsor (“Sponsor”) of Sprott ESG Gold ETF, a Delaware trust (the “Trust”), do hereby certify that:

    The following individuals serve in the following positions with the Sponsor, and further certify that the following officers or employees of the Sponsor have
      been duly authorized in conformity with the Trust’s Organizational Documents, and the signatures set forth opposite their respective names are their true and correct signatures.  Each such person is designated as an Authorized Person under the Trust
      Administration and Accounting Agreement, initially made as of May 11, 2021, as amended and restated as of June 29, 2022, between the Trust and The Bank of New York Mellon.

    	
            Name

          	 	
            Position

          	 	
            Signature

          
	 	 	 	 	 
	
            Whitney George

          	 	
            Director

          	 	
            /s/ Whitney George

          

    

    

    This certificate supersedes any certificate of Authorized Persons you may currently have on file.

    

     

    
      	
              [seal]

              

            	
              By:

            	
              /s/  

              

            	
              John Ciampaglia

            
	 	
              Name:

            	
              John Ciampaglia

            
	 	
              Title:

            	
              Chief Executive Officer

            
	 	
              Date:

            	
              July 4, 2022

            

    

    

    

    
      
        

    

    

    SCHEDULE I

    Schedule of Services

    

    

    All services provided in this Schedule of Services are subject to the review and approval of the Trust and accountants of the Trust, as may be applicable.  The
      services included on this Schedule of Services may be provided by BNY Mellon or a BNY Mellon Affiliate, collectively referred to herein as “BNY Mellon”.

    

    

    VALUATION AND COMPUTATION ACCOUNTING SERVICES

    

    

    BNY Mellon shall provide the following valuation and computation accounting services for the Trust:

    	 	
            ●

          	
            Journalize investment, capital share and income and expense activities;

          
	 	
            
              ●

            

          	
            Maintain individual ledgers for investment securities and other assets;

          
	 	
            
              ●

            

          	
            Maintain historical tax lots for each security;

          
	 	
            
              ●

            

          	
            Reconcile cash and investment balances of the Trust with the Trust’s custodian and provide the Sponsor, as applicable, with the beginning cash balance available for investment purposes upon
              request;

          
	 	
            
              ●

            

          	
            Calculate various contractual expenses;

          
	 	
            
              ●

            

          	
            Calculate capital gains and losses;

          
	 	
            
              ●

            

          	
            Calculate daily distribution rate per share;

          
	 	
            
              ●

            

          	
            Determine net income;

          
	 	
            
              ●

            

          	
            Obtain market quotes and currency exchange rates from pricing services approved by the Sponsor, or if such quotes are unavailable, then obtain such prices from the Sponsor, and in either case,
              calculate the market value of the Trust’s investments in accordance with the Trust’s valuation policies or guidelines; provided, however, that BNY Mellon shall not under any circumstances be under a duty to independently price or value any of
              the Trust’s investments itself or to confirm or validate any information or valuation provided by the Sponsor or any other pricing source, nor shall BNY Mellon have any liability relating to inaccuracies or otherwise with respect to such
              information or valuations;

          
	 	
            
              ●

            

          	
            Compute Net Asset Value in accordance with the Trust’s Offering Materials and valuation policy and procedures;

          
	 	

          	•	
            Such Net Asset Value reports and statements shall be provided to the Trust and to Authorized Participants on days when the exchange listing the Trust is operating, in each case by such means as
              BNY Mellon and the Trust may agree upon from time to time.

          
	 	
            
              ●

            

          	
            Transmit or make available a copy of the daily portfolio valuation to the Sponsor;

          
	 	
            
              ●

            

          	
            Publish basket to NSCC on for each day on which trading occurs on the NYSE, if needed;

          
	 	
            
              ●

            

          	
            Compute yields and portfolio average dollar-weighted maturity as applicable; and

          
	 	
            
              ●

            

          	
            Compute portfolio turnover rate for inclusion in the annual and quarterly shareholder reports.

          

    

    

    FINANCIAL REPORTING

    

    

    BNY Mellon shall provide the following financial reporting services for the Trust:

    
      
        

    

    Prepare, circulate and maintain the Trust’s financial reporting production calendar.

    

    

    Prepare, Review and File Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K in accordance with U.S. GAAP and with deference to Sponsor preferences in a timely fashion

    

    

    	 	
            
              ●

            

          	
            Statements of Financial Condition

          
	 	
            
              ●

            

          	
            Schedules of Investments

          
	 	
            
              ●

            

          	
            Statements of Operations

          
	 	
            
              ●

            

          	
            Statements of Changes in Shareholders’ Equity

          
	 	
            
              ●

            

          	
            Statements of Cash Flows

          
	 	
            
              ●

            

          	
            Notes to Financial Statements

          
	 	
            
              ●

            

          	
            Trust Combined Statements

          
	 	 	 

    

    

    Review/Prepare other financial data included in the 10-Qs and 10-Ks.

    

    

    Prepare Quarterly Reports on Form 10-Q for the Trust for each of the first three fiscal quarters of the Trust, and Annual Report on Form 10-K for the Trust’s fiscal year, or as
      requested by the Sponsor.  The preparation of each Form 10-Q and 10-K includes facilitating delivery of the filing to the printer, coordination of all printer and author edits, the review of printer drafts.

    

    

    Upon review and approval of each form 10-K and 10-Q by the Sponsor’s Principal Financial Officer (or such person performing such functions), the Administrator
      shall coordinate the edgarization and filing, or cause to be edgarized and filed, such reports with the SEC, including any applicable executive officer certifications or other exhibits to such reports.  The Administrator shall also coordinate with
      the printer a file that can be uploaded to the Sponsor’s Website.

    

    

    TRUST ADMINISTRATION SERVICES

    

    

    BNY Mellon shall provide the following Trust administration services for the Trust:

    

    

    	 	
            
              ●

            

          	
            Establish appropriate expense accruals and compute expense ratios, maintain expense files and coordinate the payment of Trust approved invoices;

          
	 	 	 
	 	
            
              ●

            

          	
            Calculate Trust approved income and per share amounts required for periodic distributions to be made by the Trust;

          
	 	 	 
	 	
            
              ●

            

          	
            Calculate total return information;

          
	 	 	 
	 	
            
              ●

            

          	
            Coordinate the Trust’s annual audit (including the services listed above under the heading “Financial Reporting”); and

          
	 	 	 
	 	
            
              ●

            

          	
            If the chief executive officer or chief financial officer of the Trust is required to provide a certification as part of the Trust’s Forms 10-Q or 10-K filings pursuant to regulations
              promulgated by the SEC under Section 302 of the Sarbanes-Oxley Act of 2002, provide a sub-certification in support of certain matters set forth in the aforementioned certification.  Such sub-certification is to be in such form and

          

    

    

    
      
        

    

    relating to such matters as agreed to by BNY Mellon in advance.  BNY Mellon shall be required to provide the sub-certification only during the term of the
      Agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification.  For clarity, the sub-certification is not itself a certification under the Sarbanes-Oxley Act of 2002 or under
      any other law, rule or regulation.

    

    

    IRS CIRCULAR 230 DISCLOSURE:

    

    

                To ensure compliance with requirements imposed by the Internal Revenue Service, BNY Mellon informs the Trust that any U.S. tax advice contained in any
      communication from BNY Mellon to the Trust (including any future communications) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or
      recommending to another party any transaction or matter addressed herein or therein.

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