Document:

Exhibit 10.1

    ALLOCATED GOLD STORAGE AND CUSTODY AGREEMENT entered into as of the 10th day of June,
      2022.

    	
            BETWEEN:

          	
            ROYAL CANADIAN MINT, Ottawa, Ontario, Canada, a Crown corporation established by the Royal Canadian Mint Act (Canada)

          
	 	 
	 	
            (hereinafter referred to as the “Mint”)

          
	 	 
	
            AND:

          	
            SPROTT ESG GOLD ETF (the “Trust” or
              the “Customer”) and SPROTT ASSET MANAGEMENT LP, a limited partnership formed under the laws of the Province of Ontario,
              Canada, pursuant to the Limited Partnerships Act (Ontario) by declaration dated September 17, 2008, the sponsor of the Trust (the “Sponsor”), with offices in the United States and Canada

          

    

    

    WHEREAS the Trust is an exchange-traded fund formed under the laws of the State of Delaware on
      February 10, 2021, operating pursuant to the Amended and Restated Trust Agreement between the Sponsor, Delaware Trust Company and the Trust dated June 2, 2022.

    WHEREAS the Customer entered into a trading and unallocated gold custody agreement with the Mint
      dated June 10, 2022, bearing number LS2021-064 with respect to Fine Gold to be held by the Mint on an unallocated basis on behalf of the Trust (the “Gold Trading and Custody Agreement”).

    WHEREAS the Gold Trading and Custody Agreement contemplates the possibility of the Customer making
      physical withdrawals of unallocated Fine Gold in the form of 400-Ounce London Good Delivery bars of ESG Approved Gold for storage by the Mint on an allocated basis.

    WHEREAS the Customer wishes to engage the Mint as the custodian of the Trust’s said 400-Ounce London
      Good Delivery bars of ESG Approved Gold, and the Mint agrees to store the same at the Mint’s Facility in accordance with the terms and conditions contained herein.

    NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter contained, the
      parties hereto agree as follows:

    	1.	
            Definitions

          

    In the Agreement (as defined below), the following terms and expressions have the following meanings:

    “Account” has the meaning provided in Sub-Clause 3(b).

    “Agreement” means this agreement and any document referred to
      in this agreement as forming part of this agreement.

    
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    “Agreements” has the meaning ascribed thereto in clause 27.

    “Authorized Participant” and “Authorized Participants” have the meanings ascribed thereto in the Form S-1 registration statement filed with the Securities and Exchange Commission by the Trust on June 1, 2022, and, for the
      purposes of the Agreement, who have entered into a trading agreement with the Mint.

    “Authorized Representative” has the meaning ascribed thereto
      in sub-clause 3(h).

    “Business Day” means any Monday to Friday inclusively,
      excluding holidays observed by the Mint.

    “Confidential Information” means all information received by
      a party to the Agreement (the receiving party) from another party to the Agreement (the disclosing party) during the course of the Agreement, whether disclosed in written, oral and/or visual form, which is identified by the disclosing party as
      confidential at the time of disclosure or that a reasonable person would consider, from the nature of the information or circumstances of disclosure, as being confidential. Confidential Information includes, but is not limited to, information
      relating to the respective parties’ research, developments, technology, know-how, pricing, finances, marketing, business plans and customer lists.

    “ESG Approved Gold” has the meaning ascribed thereto in the
      Gold Trading and Custody Agreement.

    “Exchange for Fine Gold Credits” and “Exchanges for Fine Gold Credits” have the meaning ascribed thereto in sub-clause 3(g).

    “ESG Approved Mines” has the meaning ascribed thereto in the
      Gold Trading and Custody Agreement.

    “Fine Gold” means gold containing 9,950 or more parts of gold
      per 10,000 parts.

    “Force Majeure” means circumstances or causes beyond the
      Mint’s reasonable control, including, without limitation, acts or omissions or the failure to cooperate of the Sponsor, the Trustee and/or of third parties (including, without limitation, entities and/or individuals under their respective control,
      and/or their respective officers, directors, employees and/or other personnel and agents), fire or other casualty, epidemic, pandemic, act of God, strike, lockout or other labour disturbance, riot, war or other violence, or any law, order or
      requirement of any governmental agency or authority.

    “Gold Trading and Custody Agreement” has the meaning ascribed
      thereto in the recitals hereof.

    “LBMA” means the London Bullion Market Association.

    “Letter Agreement” has the meaning ascribed thereto in
      sub-clause 8(a).

    “London Good Delivery” means gold bars that meet the standard
      measure of quality in gold bullion as set forth by the LBMA.

    “Mint’s Facility” means the Mint’s facility located at 320
      Sussex Drive, Ottawa, Ontario, Canada, K1A 0G8.

    
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    “Notice of Loss” means a written notice given by the Mint or the Sponsor in accordance with
      Sub-Clause 10(b) informing the other party of the discovery of loss, theft, destruction and/or damage of ESG Approved Gold, and specifying the date upon which such loss, destruction and/or damage was discovered.

    “Receipt of Deposit” means the document issued by the Mint to the Sponsor confirming the count, gross
      weight in troy ounces, assay characteristics and bar numbers of the ESG Approved Gold produced by the Mint in furtherance to a physical withdrawal request submitted to the Mint pursuant to the terms of the Gold Trading and Custody Agreement and
      deposited at the Mint’s Facility under the Account.

    “Returning Instructions” means written instructions provided
      by the Sponsor to the Mint informing the Mint of the carrier or representative to whom the Mint is to give ESG Approved Gold for its return, the Business Day on which the ESG Approved Gold is to be given to the said carrier or representative, said
      carrier’s or representative’s vehicle model and registration number and any other details which may be requested by the Mint in relation thereto.

    “Transfer of Allocated Storage” and “Transfers of Allocated Storage”
      have the meaning ascribed thereto in sub-clause 3(f).

    “Transportation Costs” means any and all costs and expenses related to the transportation of ESG
      Approved Gold from the Mint’s Facility, inclusive of any applicable taxes, duties, fees and assessments and the costs in obtaining insurance in relation thereto.

    “Withdrawal” means the physical withdrawal of the ESG Approved Gold or a portion thereof from the
      Mint’s Facility.

    	2.	
            Interpretation

          

    	(a)	
            Capitalized terms not defined herein have the meaning ascribed thereto in the Gold Trading and Custody Agreement.

          

    	(b)	
            The terms “herein”, “hereby” and “hereunder”, when used in any clause shall, unless the contrary is apparent from the context, be understood to relate to the Agreement as a
              whole, and not merely to the clause in which they appear.

          

    	(c)	
            The division of the Agreement into sections and the insertion of headings are for convenience of reference only and are not to affect the construction or interpretation of the
              Agreement.

          

    	(d)	
            In the Agreement, unless the context requires otherwise, words importing a singular number include the plural and vice versa and words importing the masculine include the
              feminine and neuter and vice versa.

          

    	(e)	
            Unless otherwise indicated, any reference to currency is to U.S. currency and any amount advanced, paid or calculated is to be advanced, paid or calculated in U.S. currency.

          

    	(f)	
            References herein to actions to be performed by the Sponsor shall be deemed to refer to the Sponsor acting on behalf of the Trust, unless the context otherwise requires.

          

    
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    	3.	
            Description of Service

          

    	(a)	
            The Mint is appointed to act as custodian of ESG Approved Gold in accordance with the terms contained herein.

          

    	(b)	
            The Mint shall establish and maintain an account (the “Account”) for ESG Approved Gold to be stored under the Agreement. The Account
              will be established and maintained on an allocated basis and will record the amount of ESG Approved Gold held from time to time in the name of the Trust under the Agreement.

          

    	(c)	
            The Mint agrees to exercise:

          

    	

          	(i)	
            the degree of care, diligence and skill that a reasonably prudent person would exercise in the circumstances; or

          

    	

          	(ii)	
            at least the same degree of care as it exercises with respect to its own property of a similar kind, if this is a higher degree of care than the degree of care referred to in
              paragraph 3(c)(i).

          

    	(d)	
            Pursuant to the Gold Trading and Custody Agreement, the Sponsor may, from time to time, request the physical withdrawal of Fine Gold held by the Mint on an unallocated basis
              in the form of at least forty (40) 400-Ounce London Good Delivery bars of ESG Approved Gold for storage by the Mint on an allocated basis under the terms of this Agreement. The first such physical withdrawal may be made for an amount of at
              least fifteen (15) 400-Ounce London Good Delivery bars of ESG Approved Gold. Conditional upon such a request being in compliance with the terms of the Gold Trading and Custody Agreement, the Mint will, in furtherance to such request, refine
              and produce the requested 400-Ounce London Good Delivery bars of ESG Approved Gold and will, on the Business Day the production thereof is fully completed, issue a Receipt of Deposit to the Sponsor in relation thereto.

          

    	(e)	
            From time to time during the term of the Agreement the Sponsor may give written notice to the Mint of its intention to withdraw ESG Approved Gold from the Mint’s Facility.
              Such written notice shall be delivered to the Mint at least three (3) Business Days prior to the Business Day on which the Sponsor wishes the Withdrawal to occur, shall be signed by an Authorized Representative of the Sponsor in accordance
              with Sub-Clause 3(h) and shall: (i) specify the ESG Approved Gold to be withdrawn from the Mint’s Facility, including, for each bar to be withdrawn, the bar number, the weight in fine and gross troy ounces and the assay characteristics; and
              (ii) specify the Returning Instructions to the Mint.

          

    	(f)	
            Upon receipt of proper and complete instructions in writing from the Sponsor, the Mint will transfer the ESG Approved Gold or a portion thereof to a third party who has an
              allocated storage account with the Mint (each a “Transfer of Allocated Storage”, and collectively the “Transfers of Allocated Storage”). The written transfer
              request must be signed by an Authorized Representative of the Sponsor in accordance with Sub-Clause 3(h) and shall: (i) specify the ESG Approved Gold to be transferred, including, for each bar to be transferred, the bar number, the weight in
              fine and gross troy ounces and the assay characteristics; and (ii) specify the name and account number of the Mint’s client to whom the ESG Approved Gold is to be transferred to. Transfers of Allocated Storage shall be processed within one
              (1) Business Day from reception of proper and complete instructions in writing and will be confirmed to the recipient by email on the day of transfer.

          

    
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    	(g)	
            Upon receipt of proper and complete instructions in writing from the Sponsor, the Mint will exchange ESG Approved Gold held by the Mint on an allocated basis pursuant to the
              terms of the Agreement for an equal amount of unallocated Fine Gold credits to be held by the Mint on an unallocated basis pursuant to the terms of the Gold Trading and Custody Agreement (each an “Exchange for
                Fine Gold Credits”, and collectively the “Exchanges for Fine Gold Credits”). The written exchange request must be signed by an Authorized Representative of the Sponsor in accordance with
              Sub-Clause 3(h) and shall: (i) specify the ESG Approved Gold to be exchanged, including, for each bar to be exchanged, the bar number, the weight in fine and gross troy ounces and the assay characteristics. Exchanges for Fine Gold Credits
              will be processed within one (1) Business Day from reception of proper and complete instructions in writing and will be confirmed by the Mint by email on the day the exchange is completed. Property in the ESG Approved Gold exchanged for Fine
              Gold credits will vest with the Mint from the time the Trust’s Pool Account (as defined under the Gold Trading and Custody Agreement) is credited with the applicable amount of Fine Gold credits.

          

    	(h)	
            The Sponsor shall provide the Mint with the names and signatures of the authorized representatives who are empowered to do the following on behalf of the Trust: (i) issue
              requests for Transfers of Allocated Storage pursuant to Sub-Clause 3(f); (ii) issue requests for Withdrawals of ESG Approved Gold from the Mint’s Facility pursuant to Sub-Clause 3(e); (iii) issue requests for Exchanges for Fine Gold Credits
              pursuant to Sub-Clause 3(g); and (iv) request inventory records pursuant to Sub-Clause 6(a) (collectively the “Authorized Representatives”, and individually an “Authorized
                Representative”). It is expressly understood and agreed that the Mint shall not be liable for any transfer of ESG Approved Gold made under a Transfer of Allocated Storage, any Withdrawal thereof and/or the provision of inventory
              records where such requests have been fraudulently executed in the name of an Authorized Representative of the Sponsor, nor for any transfer of ESG Approved Gold under a Transfer of Allocated Storage, any Withdrawal thereof and/or providing
              inventory records where the authority of any such representative has been revoked and the Mint has not been notified thereof in writing in due time.

          

    	(i)	
            The Mint carries such insurance as it deems appropriate in its experience and judgment, acting reasonably, for its businesses and its position as the custodian of the ESG
              Approved Gold. The Mint will provide the Sponsor with at least 60 days’ written notice of any cancellation or termination of such insurance coverage.

          

    	(j)	
            Nothing contained in the Agreement shall create between the parties the relationship of principal and agent, mandator and mandatary, partnership or joint venture. The Customer
              has no authority to and undertakes not to make any representation relating to the Mint, nor give any warranty or representation on behalf of the Mint, without the Mint’s prior written authorization. The Customer will be liable for any and all
              damages, losses and costs, including special, incidental, consequential, indirect and punitive damages, losses and costs (including lost profits and lost savings) suffered by the Mint as a result of a breach of any of the above undertakings
              in this sub-clause. The Customer recognizes and acknowledges that any breach or threatened breach of the above undertakings may cause the Mint irreparable harm for which monetary damage may be inadequate. The Customer agrees therefore that
              the Mint shall be entitled to seek an injunction to restrain the Customer from such breach or threatened breach.

          

    
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    	4.	
            Segregation of ESG Approved Gold

          

    ESG Approved Gold stored under the Agreement shall be physically segregated at all times from gold belonging to the Mint and/or belonging to
      the Mint’s other customers and will be specifically identified as belonging to the Trust.

    	5.	
            Inventory Statements

          

    The Mint will send the Sponsor an inventory statement for the Account on a daily basis. Monthly inventory statements shall also be issued no
      later than seven (7) Business Days following the end of each calendar month. Daily and monthly inventory statements will include a summary of all Account activity processed during the day the statement is issued or during the previous calendar month,
      as applicable, in addition to the Account balance.

    	6.	
            Audit and Security and Safety Requirements

          

    	(a)	
            Following a minimum of two (2) weeks’ prior written notice from the Sponsor, and for the fee indicated in the Letter Agreement, the Customer’s authorized employees and
              representatives will have access to the Mint’s Facility for the purpose of performing a physical audit of the ESG Approved Gold held in custody by the Mint, provided that such audit does not disrupt the routine operation of the Mint’s
              Facility, as reasonably determined by the Mint, and is held on a Business Day during the Mint’s regular business hours. The Mint has the right to reschedule the physical audit in the event the Mint determines, acting reasonably, that the
              audit would disrupt the routine operation of the Mint’s Facility if held on the date identified in the Sponsor’s written notice. When accessing the Mint’s Facility for the purpose of performing a physical audit of the ESG Approved Gold held
              in custody by the Mint, the Customer shall ensure that at least one (1) of its authorized employees or representatives is present, and the Mint shall ensure that such employees or representatives are accompanied by at least one (1)
              representative of the Mint. The Mint shall also provide the Sponsor with the Mint’s inventory records relating to the ESG Approved Gold, where such a request is made in writing and signed by an Authorized Representative of the Sponsor in
              accordance with Sub-Clause 3(h). Said inventory records will contain information enabling the Sponsor to confirm that the ESG Approved Gold originates from one or more ESG Approved Mines.

          

    	(b)	
            The Customer’s employees and representatives shall present proper credentials to the manager of the Mint’s Facility as a condition of being admitted to the Mint’s Facility.

          

    	(c)	
            The Customer agrees to be bound by the Mint’s security procedures and policies relating to the access to the Mint’s Facility. All authorized employees and representatives who
              are allowed access to the Mint’s Facility pursuant to the Agreement will be subject to security clearance prior to being admitted to the Mint’s Facility.

          

    	(d)	
            The Customer’s authorized employees and representatives could possibly be subject to search while at the Mint’s Facility.

          

    	(e)	
            Prior to arriving at the Mint’s Facility, the Mint shall provide the Customer with the details of the Mint’s safety regulations; the Customer undertakes to ensure that its
              authorized employees and representatives will be provided with such safety regulations.

          

    
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    	(f)	
            The Mint will also cooperate with the Trust’s officers, properly designated representatives and independent public accountants with respect to information or confirmation and
              other reasonable assistance needed regarding the records of the ESG Approved Gold held by the Mint for the purpose of confirming the content of those records. In addition, the Mint understands that, in connection with the preparation of the
              Trust’s financial statements that will be filed from time to time with the U.S. Securities and Exchange Commission, officers of the Sponsor will be required by law or regulation to provide written assurances regarding the reliability of the
              internal controls used in the preparation of those financials. To the extent that the Mint’s activities or controls with respect to providing services related to holding ESG Approved Gold are relevant to the information presented in the
              Trust’s financial statements, the Mint will reasonably cooperate with the Sponsor to enable the Sponsor to provide the required written assurances referred to above and to enable the Trust’s independent public accountants to provide any
              required attestation or reporting in connection with such assurances.

          

    	7.	
            Indemnity

          

    	(a)	
            The Customer shall indemnify and hold harmless the Mint, its directors, officers, employees and agents, from and against any damages and/or losses, including, but not limited
              to loss, destruction and/or damage to ESG Approved Gold, any injuries, including, but not limited to, bodily injuries or death, any costs and/or expenses and/or any claim, action, suit and/or other proceeding, including reasonable settlement,
              judgment and attorney’s fees, arising out of the presence of any of the Customer’s employees, agents, representatives and/or contractors on the premises of the Mint’s Facility and/or arising out of the entering and/or leaving therefrom.

          

    	(b)	
            The Customer warrants that it has legal title to the ESG Approved Gold stored in the Mint’s Facility with the right to transfer possession of the ESG Approved Gold to the Mint
              free and clear of all liens and encumbrances. The Customer shall indemnify and hold harmless the Mint, its directors, officers, employees and agents, from and against any damages, losses, injuries, costs and/or expenses and/or any claim,
              action, suit and/or other proceeding, including reasonable settlement, judgment and attorney’s fees, arising out of any breach of this warranty.

          

    	8.	
            Fees and Charges

          

    	(a)	
            The Sponsor will pay to the Mint the fees and charges as agreed pursuant to that certain letter agreement between the Sponsor and the Mint dated June 10, 2022, bearing number
              LS2021-067 (the “Letter Agreement”), in addition to any other fees, charges and costs to be paid pursuant to the
              Agreement.

          

    	(b)	
            The Mint will have no obligation to proceed with a requested Withdrawal, Transfer of Allocated Storage and/or Exchange for Fine Gold Credits until all sums due to the Mint per
              the Agreement and the Letter Agreement have been paid in full.

          

    	9.	
            Risk and Liability

          

    	(a)	
            Except as otherwise provided in the Agreement, the Mint shall bear all risks of loss, theft, damage and/or destruction of ESG Approved Gold from the time the related Receipts
              of Deposits have been issued by the Mint.

          

    
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      	(b)	
              The Mint’s liability shall terminate in respect of any portion of ESG Approved Gold: (i) at the expiration of the sixty (60) calendar-day prior notice of termination for
                convenience pursuant to clause 15, whether or not the ESG Approved Gold remains in the Mint’s Facility; (ii) thirty (30) calendar days following the termination of the Agreement for default, whether or not the ESG Approved Gold remains in
                the Mint’s Facility; (iii) upon transfer of the ESG Approved Gold under a Transfer of Allocated Storage, as requested by the Sponsor; or (iv) upon the transfer of possession to the Sponsor’s Gather or representative in the event of a
                Withdrawal or the return of the ESG Approved Gold pursuant to the Agreement.

            

      	(c)	
              Fine Gold credits obtained through Exchanges of Pine Gold Credits are subject to the terms of the Gold Trading and Custody Agreement from the time the Mint issues to the
                Sponsor the confirmation to the effect that the exchange has been processed, including, without limitation, the terms thereof relating to risk of loss, limitation of liability and compensation in the event of a loss, theft or destruction.

            

      	(b)	
              Conditional upon the Sponsor giving the Mint a Notice of Loss in accordance with Sub- Clause 10(b) where the loss, theft, damage and/or destruction is discovered by the
                Customer, in the event of loss, theft and/or destruction of ESG Approved Gold (whether through fraud, theft, negligence or otherwise and regardless of culpability by the Mint) for which the Mint bears the risks of loss, theft, destruction
                or damage as provided in Sub-Clause 9(a), the Mint will either, in its discretion:

            

      	

            	(i)	
              replace the lost, stolen and/or destroyed ESG Approved Gold based on the weight and assay characteristics thereof specified in the applicable Receipt(s) of Deposit;

            

      	

            	(ii)	
              compensate the Sponsor for the monetary value of the lost, stolen and/or destroyed ESG Approved Gold based on the weight and assay characteristics thereof specified in the
                applicable Receipt(s) of Deposit and the market value of the lost, stolen and/or destroyed ESG Approved Gold using the p.m. price of gold expressed in U.S. dollars, as published by the LBMA (or, should the LBMA cease to publish gold prices,
                any other gold spot rate selected by the Mint acting reasonably) on the first (1st) trading day following the discovery by the Mint of said loss, theft and/or destruction, if first discovered by the Mint, or, if first discovered
                by the Customer, the first (1st) trading day following the date the relevant Notice of Loss was given to the Mint; or

            

      	

            	(iii)	
              replace a portion of the lost, stolen and/or destroyed ESG Approved Gold based on the weight and assay characteristics thereof specified in the applicable Receipt(s) of
                Deposit and compensate the Sponsor for the monetary value of the remaining portion of the lost, stolen and/or destroyed ESG Approved Gold based on the weight and assay characteristics thereof specified in the applicable Receipt(s) of
                Deposit and the market value of the lost, stolen and/or destroyed ESG Approved Gold using the p.m. price of gold expressed in U.S. dollars, as published by the LBMA (or, should the LBMA cease to publish gold prices, any other gold spot rate
                selected by the Mint acting reasonably) on the first (1st) trading day following the discovery by the Mint of said loss, theft and/or destruction, if first discovered by the Mint, or, if first discovered by the Customer, the
                first (1st) trading day following the date the relevant Notice of Loss was given to the Mint.

            

      	(c)	
              Conditional upon the Sponsor giving the Mint a Notice of Loss in accordance with Sub- Clause 10(b) where the damage is discovered by the Customer, in the event of damage to
                ESG Approved Gold for which the Mint bears the risks of loss, theft, destruction or damage

            

    

     

    
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    as provided in Sub-Clause 9(a), the Mint will restore the portion of damaged ESG Approved Gold to at least as good as
      state as it was prior to being so damaged.

    	(d)	
            Upon replacement of and/or monetary compensation for the lost, stolen and/or destroyed ESG Approved Gold as provided for above, the Customer hereby agrees to and does hereby
              assign to the Mint all of its right, title and interest in the said lost, stolen and/or destroyed ESG Approved Gold; upon replacement of and/or compensation for lost, stolen and/or destroyed ESG Approved Gold and/or upon restoration of
              damaged ESG Approved Gold, the Customer hereby agrees to and does hereby assign to the Mint all of its rights of recovery against third parties that are the subject of a claim and/or against whom a claim can be instituted, and to execute any
              documents as may be reasonably necessary to perfect such assignment upon request by the Mint or the Mint’s insurers.

          

    	10.	
            Notice of Loss

          

    	(a)	
            the Sponsor and the Mint shall maintain a record of all ESG Approved Gold stored pursuant to the Agreement.

          

    	(b)	
            Should the Customer discover a loss, theft, destruction and/or damage of ESG Approved Gold under the Agreement, the Sponsor shall give a Notice of Loss to the Mint, in the
              manner specified in Sub-Clause 16(b), within five (5) Business Days from the Customer’s discovery of any such loss, destruction and/or damage. Should the Mint discover a loss, theft, destruction and/or damage of ESG Approved Gold under the
              Agreement, the Mint shall give a Notice of Loss to the Sponsor, in the manner specified in Sub-Clause 16(a), within five (5) Business Days from the Mint’s discovery of any such loss, theft, destruction and/or damage. Notwithstanding the
              foregoing, in the event that the Sponsor receives a written statement from the Mint in which a discrepancy in the quantity of ESG Approved Gold first appears, the Sponsor must give the Mint, in the manner specified in Sub-Clause 16(b), a
              Notice of Loss regarding such a discrepancy no later than sixty (60) calendar days following reception of the said written statement. In the event that a Notice of Loss is given by either party in
              accordance with the above, the Sponsor shall forthwith provide the Mint with an affirmative written statement, subscribed and sworn to by a duly authorized representative of the Sponsor, detailing the ESG Approved Gold lost, stolen, destroyed
              and/or damaged and substantiated by the books, records and accounts of the Customer. Should the Sponsor either (i) fail to give a Notice of Loss within the period stated herein with respect to a loss, theft, destruction and/ or damage; or
              (ii) fail to bring an action, suit and/or proceeding within twelve (12) months from the discovery of a loss, theft, destruction and/or damage notwithstanding that a Notice of Loss has been given in accordance with this Sub-Clause, all claims
              with respect to such loss, destruction and/or damage shall be deemed to have been waived, and no action, suit and/or other proceeding in relation thereto shall be brought against the Mint.

          

    	(c)	
            The parties shall promptly and diligently assist each other to establish the identity of the ESG Approved Gold lost, stolen, destroyed and/or damaged, and shall take all such
              other reasonable steps as may be necessary to assure the maximum amount of salvage at a minimum cost.

          

    	11.	
            Limitation of Liability of the Mint

          

    Notwithstanding anything to the contrary in the Agreement, in addition to any other limitations of liability of the Mint provided under the
      Agreement and/or by way of law, the Mint is not liable for any damages, losses (including loss, destruction and/or damage of ESG Approved Gold), costs

    
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    and/or expenses and/or for non-performance and/or delays of service caused by or resulting from any of the following, whether suffered
      directly or indirectly by the Mint:

    	(a)	
            either: (1) war, hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual, impending or expected attack (i)
              by any government or sovereign power (de jure or de facto), or by any authority maintaining or using military, naval or air forces; or (ii) by military, naval or air forces; or (iii) by an agent of any such government, power, authority or
              forces; or (2) insurrection, rebellion, revolution, civil war, usurped power or action taken by governmental authority in hindering, combating or defending against such an occurrence or confiscation by order of any government or public
              authority.

          

    	(b)	
            either: (i) any chemical, biological, or electromagnetic weapon; (ii) the use or operation, as a means for inflicting harm, of any computer, computer system, computer
              software, computer software program, malicious code, computer virus or process or any other electronic system; (iii) ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the
              combustion of nuclear fuel; (iv) the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof; (v) any weapon or device employing
              atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter; or (vi) the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion in Sub-Clause
              (vi) does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful purposes.

          

    	(c)	
            any act of terrorism or any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism. An act of terrorism means an act, including
              but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political,
              religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.

          

    	(d)	
            a case of Force Majeure.

          

    	12.	
            Consequential Damages

          

    Except as otherwise specifically provided under the Agreement, neither party shall be liable for special, incidental, consequential, indirect
      and/or punitive losses and/or damages (including lost profits and/or lost savings), whether or not they had knowledge that such losses and/or damages might be incurred.

    	13.	
            Term of the Agreement and Return of ESG Approved Gold

          

    The Agreement is effective as of the date first mentioned above and will continue until terminated by either party pursuant to Clause 14 or
      Clause 15, as applicable.

    	14.	
            Termination for Default

          

    	(a)	
            Where: (i) the Customer is in default in carrying out any of its obligations under the Agreement and fails to correct said default within ten (10) Business Days following a
              written

          

    
      Page 10 of 16

      
        

    

    notice sent by the Mint to the Sponsor informing the latter of the default; (ii) the Customer is dissolved or adjudged
      bankrupt, or a trustee, receiver or conservator of the Customer or of its property is appointed, or an application for any of the foregoing is filed; or (iii) the Customer is in breach of any representation or warranty contained herein, the Mint may,
      upon giving written notice to the Sponsor, terminate the Agreement.

    	(b)	
            Where: (i) the Mint is in default in carrying out any of its obligations under the Agreement and fails to correct said default within ten (10) Business Days following a
              written notice sent by the Sponsor to the Mint informing the latter of the default; (ii) the Mint is dissolved or adjudged bankrupt, or a trustee, receiver or conservator of the Mint or of its property is appointed, or an application for any
              of the foregoing is filed; or (iii) the Mint is in breach of any representation or warranty contained herein, the Sponsor may, upon giving written notice to the Mint, terminate the Agreement.

          

    	(c)	
            Upon the giving of a written notice of termination by either party pursuant to the terms of the present clause, the Sponsor shall forthwith arrange for the return of the ESG
              Approved Gold and provide Returning Instructions to the Mint. The Transportation Costs for returning the ESG Approved Gold shall be borne by the defaulting party, except that the Mint shall only bear Transportation Costs for returning the ESG
              Approved Gold to one of Canada’s provincial capitals. ESG Approved Gold left in storage at the Mint’s Facility after the termination date will be subject to storage and handling fees and charges as determined by the Mint; the Customer
              acknowledges and agrees that such fees and charges may be greater than those set out in the Letter Agreement. Also, the Customer agrees to reimburse the Mint for any and all costs and expenses incurred by the Mint by reason of the ESG
              Approved Gold having been left in storage at the Mint’s Facility after the termination date.

          

    	(d)	
            In case of termination by the Mint pursuant to the present clause, (i) the Customer shall, except for special, incidental, consequential, indirect, and/or punitive losses
              and/or damages, be liable towards the Mint for losses and damages which may be suffered by the Mint by reason of the default or occurrence upon which the notice was based. In case of termination by the Sponsor pursuant to the present clause,
              the Mint shall, except for special, incidental, consequential, indirect and/or punitive losses and/or damages, be liable towards the Sponsor for losses and damages which may be suffered by the Sponsor by reason of the default or occurrence
              upon which the notice was based.

          

    	15.	
            Termination for Convenience

          

    	(a)	
            Notwithstanding anything contained in the Agreement, either the Mint or the Sponsor may, at its sole discretion, terminate the Agreement by giving sixty (60) calendar days’
              written notice to the other party to that effect.

          

    	(b)	
            Upon a notice of termination being given pursuant to the terms of the present clause, the Sponsor shall forthwith arrange for the return of the ESG Approved Gold and provide
              Returning Instructions to the Mint, the Transportation Costs to be borne by the Customer. ESG Approved Gold left in storage at the Mint’s Facility after the termination date due to the Sponsor not having returned the ESG Approved Gold prior
              to termination date will be subject to storage and handling fees and charges as determined by the Mint; the Customer acknowledges and agrees that such charges may be greater than those set out in the Letter Agreement. Also, the Customer
              agrees to reimburse the Mint for any and all reasonable costs and expenses incurred by the Mint by reason of the ESG Approved Gold having been left in

          

    
      Page 11 of 16

      
        

    

    

    

    storage at the Mint’s Facility after the termination date due to the Sponsor not having returned the ESG Approved Gold
      prior to the termination date.

    	(c)	
            In the event of termination under the present clause, neither party will have any claim for compensation except as otherwise specified in the Agreement and will have no claim
              for damages and/or loss of profit as a result of the termination.

          

    	16.	
            Notices

          

    	(a)	
            Except as provided under Sub-Clause 16(b), any notice given under the Agreement will be in writing, and will be delivered by messenger, prepaid registered mail or email to the
              following addresses:

          

    	 	
            If to the Mint:

          	
            If to the Sponsor:

          
	 	 	 
	 	
            Royal Canadian Mint

            320 Sussex Drive

            Ottawa, Ontario, Canada K IA 0G8

            c/o Lorne Whitmore

            Managing Director, Sales

            B2B — Bullion & Numismatic

            Email: whitinore@mint.ca

          	
            Sprott Asset Management LP

            320 Post Road, Suite 230

            Darien, Connecticut 06820

            Attention: Whitney George

            Email: wgeorge@sprottusa.com

          
	 	 	 
	 	
            If to the Trust:

          	 
	 	 	 
	 	
            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

          	 

    

    

    	(b)	
            Notwithstanding Sub-Clause 16(a), a Notice of Loss given by the Sponsor to the Mint pursuant to Sub-Clause 10(b) will be in writing and will be delivered by email to the
              following address:

          

    	 	
            Royal Canadian Mint

            c/o: Norman Toye |

            Treasury and Risk Management Department

            E-mail: mintriskingt@mint.ca

          	 

    

    

    	(c)	
            A party may change its address by informing the other party of the new address in writing.

          

    	(d)	
            A notice shall be deemed to have been given: (i) when received, if delivered by messenger; (ii) upon electronic confirmation of delivery, if delivered or transmitted by email
              (or, if such day is not a Business Day or if delivery or transmission is made on a Business Day after 5:00 p.m. at the place of receipt, then on the next Business Day); or (iii) on the fourth (4th) Business Day following the date
              of mailing, if sent by prepaid registered mail; provided, however, that if at the time of mailing or within four (4) Business Days thereafter there is or occurs a labour dispute or other event which might reasonably be expected to disrupt the
              delivery of documents by mail, any notice hereunder shall be delivered or transmitted by means of email.

          

    
      Page 12 of 16

      
        

    

    	(e)	
            Any party sending a Notice of Loss shall also endeavour to call the receiving party on the day the Notice of Loss is issued, to notify them of the issuance of the Notice of
              Loss, at the following telephone numbers:

          

    	 	
            If to the Mint:

          	
            If to the Sponsor:

          
	 	 	 
	 	
            Treasury and Risk Management

            Department

            c/o Norman Toye

            Tel: (613) 851-1022

          	
            Sprott Asset Management LP

            c/o Whitney George

            Telephone: 203-636-0977

          

    

    

    	17.	
            Waiver

          

    The failure of a party to insist upon strict adherence to any term of the Agreement on one or more occasions will not be considered a waiver
      or deprive the party of the right thereafter to insist upon strict adherence to that term or any other term of the Agreement.

    	18.	
            Amendments

          

    Except as specifically provided for herein, the Agreement may not be waived, altered or amended except by an instrument in writing duly
      executed by the Customer and the Mint.

    	19.	
            Assignment

          

    The Agreement shall be binding on the Customer and the Mint and their respective successors and permitted assigns. Neither the Customer nor
      the Mint shall assign or transfer its rights or obligations hereunder without the prior written consent of the other. Any such consent shall not be unduly delayed or unreasonably withheld.

    	20.	
            Applicable Law and Arbitration

          

    	(a)	
            The Agreement and all matters relating to the Agreement (whether in contract, statute, tort (including, without limitation, negligence) or otherwise), is governed by, and
              construed in accordance with, the laws of the Province of Ontario (without giving effect to the choice of law principles thereof).

          

    	(b)	
            Any dispute arising out of or in connection with the Agreement, including any question regarding its existence, validity or termination, shall be referred to and finally
              resolved by arbitration in accordance with the Commercial Arbitration Act (Canada), as amended. The number of arbitrators will be one (1). The place of arbitration will be the City of Ottawa,
              Ontario, Canada. The language to be used in the arbitral proceedings is English and/or French. All proceedings, submissions and awards related to any recourse hereunder shall be kept confidential to the extent permissible by law.

          

    	21.	
            No Bribe

          

    The Customer represents and warrants:

    
      Page 13 of 16

      
        

    

    	(a)	
            that no bribe, gift and/or other inducements have been paid, given, promised and/or offered to any official and/or employee of the Mint for, or with a view to, the obtaining
              of the Agreement by the Customer; and

          

    	(b)	
            that it has not employed any person to solicit or secure the Agreement upon any agreement for a commission, percentage, brokerage and/or contingent fee.

          

    	22.	
            Members of the House of Commons

          

    No Member of the House of Commons shall be admitted to any share or part of the Agreement or to any benefit to arise therefrom.

    	23.	
            Confidentiality

          

    	(a)	
            Subject to the exceptions set out below, the receiving party shall keep confidential the disclosing party’s Confidential Information and shall not use any of the disclosing
              party’s Confidential Information except for the purposes contemplated in the Agreement.

          

    	(b)	
            The receiving party shall disclose the Confidential Information only to those of its own employees, agents or consultants who require the Confidential Information for the
              purpose of the Agreement. Prior to disclosure of the Confidential Information to its own employees, agents or consultants, the receiving party shall issue, or shall have issued, appropriate instructions to satisfy its obligations under the
              Agreement. Any agents or consultants to whom the disclosing party’s Confidential Information is to be disclosed shall be first bound, by agreement in writing, to observe terms of confidentiality which are at least as stringent as those set
              out in the Agreement.

          

    	(c)	
            Confidential Information shall be maintained by the receiving party in the same manner as the receiving party keeps its own Confidential Information of a similar nature and,
              in any event, the Confidential Information shall be kept in accordance with reasonable and prudent standards.

          

    	(d)	
            The receiving party shall not be liable for disclosure of the Confidential Information where disclosure is made in either of the following cases:

          

    	

          	(i)	
            the Confidential Information had already entered the public domain other than through a breach of the Agreement;

          

    	

          	(ii)	
            prior to disclosure, the Confidential Information was lawfully obtained by the receiving party from a third party or parties without restriction on disclosure and without a
              breach of the Agreement;

          

    	

          	(iii)	
            the Confidential Information was known to the receiving party without restriction on disclosure prior to its initial disclosure by the other;

          

    	

          	(iv)	
            the Confidential Information is independently developed by the receiving party; or

          

    	

          	(v)	
            the disclosure is required by law and/or pursuant to an order of a court, administrative tribunal, or other body having the power to compel the production of Confidential
              Information, or pursuant to a government directive or policy. Such disclosure shall be made only to the extent so ordered and, where permitted by law, the receiving party shall notify the disclosing party of such disclosure.

          

    	(e)	
            The Mint is subject to the Access to Information Act (Canada) and is required thereunder to respond within statutory deadlines to
              any access to information request. In so doing, the Mint

          

    
      Page 14 of 16

      
        

    

    will manage any disclosure of records it deems responsive in its control in accordance with the Access to Information Act and will redact commercially sensitive third-party information as permitted by law. The Mint is subject to the Privacy Act (Canada), which is the Canadian federal
      public sector privacy legislation regarding the collection, use, disclosure and protection of personal information. The Privacy Act requires that the Mint only use personal information for the purposes for
      which it is collected. The Mint will comply with the applicable requirements of the Privacy Act and will not share personal information collected through its due diligence activities with any third party,
      including but not to limited to, the Sponsor and the Trustee.

    	24.	
            Survival

          

    The parties’ respective accrued rights and obligations, as well as the provisions which by the nature of the rights or obligations might
      reasonably be expected to survive, will survive the termination of the Agreement, in addition to any other provisions which survive by operation of law.

    	25.	
            Investment Advice

          

    It is understood and agreed that, as part of its services under the Agreement, the Mint has not undertaken a duty to supervise the Customer’s
      investment in, or to make any recommendation to the Customer with respect to, the purchase, sale and/or other disposition of any ESG Approved Gold or the balance of ESG Approved Gold the Customer maintains in inventory.

    	26.	
            Reserved.

          

    	27.	
            Entire Agreement

          

    This Agreement, the Gold Trading and Custody Agreement and the Letter Agreement (collectively, the “Agreements”)
      constitute the entire agreement between the parties hereto with respect to the subject matter hereof, and supersede all previous negotiations and documents in relation thereto. There are no warranties, conditions, and/or representations (including
      any that may be implied by statute) and there are no agreements in connection with such subject matter except as specifically set forth or referred to in the Agreements. No reliance is placed on any warranty, representation, opinion, advice and/or
      assertion of fact made either prior to or contemporaneous with the entering into the Agreements by any party to the Agreement to any other party to the Agreements, except to the extent that the same has been reduced to writing and included as a term
      of the Agreements, and none of the parties to the Agreements has been induced to enter into the Agreements by reason of any such warranty, representation, opinion, advice and/or assertion of fact. Accordingly, there is no liability, either in tort
      and/or in contract, assessed in relation to any such warranty, representation, opinion, advice and/or assertion of fact, except to the extent contemplated in the Agreements.

    	28.	
            Counterparts

          

    The Agreement may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed
      will be deemed to be an original and all of which taken together will constitute one and the same agreement. Delivery by facsimile or by electronic transmission in portable document format (PDF) of an executed counterpart of the Agreement is as
      effective as delivery of an originally executed counterpart of the Agreement. Each party agrees that the electronic signatures of the parties included in this Agreement are intended to authenticate this writing and to have the same force and effect
      as manual signatures

    
      Page 15 of 16

      
        

    

    IN WITNESS WHEREOF, each of the parties hereto has caused the Agreement to be executed on its behalf
      by its duly authorized representative(s) as of the date and year first written above.

    	
            ROYAL CANADIAN MINT

          	 	
            SPROTT ASSET MANAGEMENT LP, by its general partner, SPROTT ASSET MANAGEMENT GP
                INC.

          	 
	 	 	 	 
	 	 	 	 
	
            
              /s/ Tom Froggatt

            

          	 	
            
              /s/ W. Whitney George

            

          	 
	
            Tom Froggatt

          	 	
            Name: W. Whitney George

          	 
	
            Chief Commercial Officer

          	 	
            Title:   Director

          	 

    

    

    	 	 	 	 
	 	 	 	 
	
            
              /s/ Lenard Cheung

            

          	 	 	 
	
            Lenard Cheung

          	 	 	 
	
            Acting Vice-President Finance and

          	 	 	 
	
            Administration & CFO

          	 	 	 

    

    

    

    

    	
            SPROTT ESG GOLD ETF, by SPROTT ASSET MANAGEMENT LP, in its capacity as the sponsor

          	 	 	 
	 	 	 	 
	 	 	 	 
	
            
              /s/ W. Whitney George

            

          	 	 	 
	
            Name: W. Whitney George

          	 	 	 
	
            Title:   Director

          	 	 	 

    

    

    

    

    

    

  

  Page 16 of 16Exhibit 10.2

     

   
  

     

   
   
    Trading and Unallocated Gold Custody Agreement entered into as of the 10th day of June, 2022.

    	
            BETWEEN:

          	
            ROYAL CANADIAN MINT, Ottawa, Ontario, Canada, a Crown corporation established by the Royal Canadian Mint Act (Canada)

             

            

          
	 	
            (hereinafter referred to as the “Mint”)

             

            

          
	
            AND:

          	
            SPROTT ESG GOLD ETF (the “Trust” or the  “Customer”) and SPROTT ASSET MANAGEMENT LP, a limited
              partnership formed under the laws of the Province of Ontario, Canada, pursuant to the Limited Partnerships Act (Ontario) by declaration dated September 17, 2008, the sponsor of the Trust (the “Sponsor”), with offices in the United States and Canada

          
	 	 

    

    

    WHEREAS the Trust is an exchange-traded fund formed tinder the laws of the State of Delaware on February 10, 2021,
      operating pursuant to the Amended and Restated Trust Agreement between the Sponsor, Delaware Trust Company, the trustee of the Trust, and the Trust dated June 2, 2022.

    WHEREAS the Customer wishes for a Pool Account (as defined herein) to be established in the Trust’s name with the Mint
      for the purposes of trading Fine Gold (as defined herein) and to have the Mint hold Fine Gold in custody until a Physical Withdrawal (as defined herein) or a Transfer of Credits (as defined herein).

    WHEREAS the Mint has agreed to establish such a Pool Account upon the terms and conditions set forth herein.

    NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter contained, the parties hereto agree
      as follows:

    1. DEFINITIONS

    	

          	1.1	
            In the Agreement and the schedules attached hereto, the following terms and expressions have the following meanings:

          

    	

          	(a)	
            “Agreement” means this agreement and any document referred to in
              this agreement as forming part of this agreement, including, but not limited to, the schedules attached hereto,

          

    	

          	(b)	
            “Agreements” has the meaning ascribed thereto in sub-clause 25.1.

          

    	

          	(c)	
            “Allocated Gold Storage and Custody Agreement” has the meaning
              ascribed thereto in sub-clause 3.2(iv).

          

    	

          	(d)	
            “Authorized Participant” and “Authorized

                Participants” have the meanings ascribed thereto in the Form S-1 registration statement filed with the Securities and

          

    
      Page 1 of 28

      
        

    

    

    

    Exchange Commission by the Trust on June 1, 2022, and, for the purposes of the Agreement, who have entered into a trading agreement with
      the Mint.

    	

          	(e)	
            “Authorized Representatives” has the meaning ascribed thereto in
              sub-clause 3.4.

          

    	

          	(f)	
            “Business Day” means any
              Monday to Friday inclusively, excluding holidays observed by the Mint.

          

    	

          	(g)	
            “Confidential Information” means all
                  information received by a party to the Agreement (the receiving party) from another party to the Agreement (the disclosing party) during the course of the Agreement, whether disclosed in written, oral or visual form, which
              is identified by the disclosing party as confidential at the time of disclosure or that a reasonable person would consider, from the nature of the information or circumstances of disclosure, as being confidential. Confidential Information
              includes, but is not limited to, information relating to the respective parties’ research, developments, technology, know-how, pricing, finances, marketing
              and business plans and customer lists.

          

    	

          	(h)	
            “Deposit Receipt” means the

              document that states the Ounces credited to the Trust’s Pool Account following a Direct Deposit and the applicable charges in relation thereto.

          

    	

          	(i)	
            “Direct Deposit” means a physical deposit of Fine Gold at the Mint’s Facility in
                either of the following forms or any combination thereof: London Good Delivery 400-Ounce bars, kilo bars manufactured by a London Good Delivery refiner or mint, or Royal Canadian Mint Gold Maple Leaf coins.

          

    	

          	(j)	
            “Direct Deposit Request Form” means the form attached hereto as Schedule A to be
              submitted by the Sponsor to the Mint by email in order to request a Direct Deposit.

          

    	

          	(k)	
            “ESG” has the meaning ascribed

              thereto in sub-clause 4.23.

          

    	

          	(l)	
            “ESG Approved Gold” has the meaning ascribed
              thereto in sub-clause 4.23.

          

    	

          	(m)	
            “ESG Approved Mining Company” has the meaning ascribed thereto in
              sub-clause 4.23.

          

    	

          	(n)	
            “ESG Criteria” has the meaning ascribed thereto in sub-clause 4.23.

          

    	

          	(o)	
            “Facilitated Unallocated Deposit Request Form” means the form
              attached hereto as Schedule B to be submitted by the Sponsor to the Mint by e-mail in order to request a facilitated deposit of Fine Gold credits in its Pool Account originating from an Authorized Participant’s Loco London Account.

          

    	

          	(p)	
            “Facilitated Unallocated Transfer Request Form” means the form
              attached hereto as Schedule D to be submitted by the Sponsor to the Mint by e-mail in order to request a facilitated transfer of Fine Gold credits from its Pool Account to an Authorized Participant’s Loco London Account.

          

    	

          	(q)	
            “Fine Gold” means gold containing 9,950 or more parts of gold per
              10,000 parts.

          

    	

          	(r)	
            “Force Majeure” means circumstances or causes beyond the Mint’s reasonable

          

    
      Page 2 of 28

      
        

    

    

    

    control, including, without limitation, acts or omissions or the failure to cooperate of the Sponsor, the Trust and/or of third parties
      (including, without limitation, entities and/or individuals under their respective control, and/or their respective officers, directors, employees and/or other personnel and agents), fire or other casualty, epidemic, pandemic, act of God, strike,
      lockout or other labour disturbance, riot, war or other violence, or any law, order or requirement of any governmental agency or authority.

    	

          	(s)	
            “Improperly Packed Pallet” means Fine Gold that is not securely or
              safely packed on a well-constructed sturdy wood pallet.

          

    	

          	(t)	
            “LBMA” means London Bullion Market Association.

          

    	

          	(u)	
            “Letter Agreement” has the meaning ascribed thereto in sub-clause
              6.1.

          

    	

          	(v)	
            “Loco London Account” means an account with a London Precious Metals
              Clearing Limited clearing bank.

          

    	

          	(w)	
            “London Good Delivery” means gold bars that meet the standard
              measure of quality in gold bullion as set forth by the LBMA.

          

    	

          	(x)	
            “Mint’s Facility” means the Mint’s facility located at 320 Sussex
              Drive, Ottawa, Ontario, Canada, K 1 A 0G8.

          

    	

          	(y)	
            “Mint’s Responsible Sourcing Requirements” has the meeting ascribed
              thereto in sub-clause 4.23.

          

    	

          	(z)	
            “Notice of Discrepancy” means a written notice given by the Mint to
              the Sponsor pursuant to sub-clause 4.20 informing the Sponsor of a discrepancy between (i) the results of its weighing, count and/or verification made pursuant to sub-clause 4.18; and (ii) the information stated in the relevant Direct Deposit
              Request Form.

          

    	

          	(aa)	
            “Notice of Loss” means, as applicable: (i) a written notice given by
              the Mint in accordance with sub-clause 8.5 informing the Sponsor of the discovery of loss, theft and/or destruction of Fine Gold, and specifying the date on which such loss, theft and/or destruction was discovered; or (ii) a written notice
              given by the Sponsor in accordance with sub-clause 8.5 informing the Mint of a discrepancy in the quantity of Fine Gold credits stated in monthly statement of account.

          

    	

          	(bb)	
            “Ounce” means troy ounce.

          

    	

          	(cc)	
            “Physical Withdrawal” means a physical withdrawal of Fine Gold in
              the form of ESG Approved Gold in furtherance to a Withdrawal Request Form submitted to the Mint in accordance with clause 4 for the purpose of being stored by the Mint on an allocated basis pursuant to the Allocated Gold Storage and Custody
              Agreement.

          

    	

          	(dd)	
            “Pool Account” means the account recording the amount, in Ounces, of
              Fine Gold calculated to three decimal places held by the Mint on behalf of the Trust on an unallocated basis.

          

    
      Page 3 of 28

      
        

    

    

    

    	

          	(ee)	
            “Receipt of Deposit” means the document issued by the Mint to the
              Sponsor confirming the count, gross weight in troy ounces, assay characteristics and bar numbers of the 400-Ounce London Good Delivery bars of ESG Approved Gold produced by the Mint in furtherance to a Withdrawal Request Form and deposited at
              the Mint’s Facility in accordance with the terms of the Allocated Gold Storage and Custody Agreement.

          

    	

          	(ff)	
            “Returning Instructions” means written instructions provided by the Sponsor to the Mint informing the Mint of the carrier or representative to whom the Mint is to give Fine Gold for return, the
                Business Day on which the Fine Gold is to be given to said carrier or representative, said carrier’s or representative’s vehicle model and registration number and any other details which may be requested by the Mint in relation thereto.

          

    	

          	(gg)	
            “Sponsor” has the meaning ascribed thereto in the recitals hereof.

          

    	

          	(hh)	
            “Transfer Confirmation” means the document that states the amount
              of Fine Gold credits transferred to the Trust’s Pool Account from a third party’s pool account also held at the Mint.

          

    	

          	(ii)	
            “Transfer of Credits” means: (i) a transfer of Fine Gold credits
              facilitated by the Mint from the Trust’s Pool Account pursuant to a Facilitated Unallocated Transfer Request Form submitted to the Mint in accordance with clause 4 to an Authorized Participant’s Loco London Account; or (ii) a transfer of Fine
              Gold credits from the Trust’s Pool Account to the pool account of a third party held at the Mint.

          

    	

          	(jj)	
            “Transfer Request Form” means the form attached hereto as Schedule C to be submitted by the Sponsor to the Mint by e-mail in order to request a Transfer of Credits.

          

    	

          	(kk)	
            “Transportation Costs” means any and all costs and expenses related
              to the transportation of Fine Gold to and from the Mint’s Facility, inclusive of any applicable taxes, duties, fees and assessments and the costs in obtaining insurance in relation thereto.

          

    	

          	(ll)	
            “Trust” has the meaning ascribed thereto in the
              recitals hereof.

          

    	

          	(mm)	
            “Withdrawal Request Form” means the form attached hereto as
              Schedule E to be submitted by the Sponsor to the Mint by e-mail in order to request a Physical Withdrawal.

          

    	

          	(nn)	
            “Work” means the things required to be done, furnished and performed by the Mint in order to carry out the terms of the Agreement.

          

    INTERPRETATION

    	

          	1.2	
            In the Agreement, words importing the singular number include the plural and vice versa, and words importing the masculine gender include the feminine gender and the neuter and vice versa.

          

    	

          	1.3	
            The division of the Agreement into sections and the insertion of headings are for convenience of reference only and are not to affect the construction or interpretation of

          

    
      Page 4 of 28

      
        

    

    

    

    the Agreement.

    	

          	1.4	
            Unless otherwise specified, any reference to currency is to United States currency and any amount advanced, paid or calculated is to be advanced, paid or calculated in United States currency.

          

    	

          	1.5	
            The terms “herein”, “hereby”, and “hereunder”, when used in any clause shall, unless the contrary is apparent from the context, be understood to relate to the Agreement as a whole, and not
              merely to the clause in which they appear.

          

    	

          	1.6	
            The following attached schedules form part of the Agreement:

          

    
      	

            	•	
              Schedule A: Direct Deposit Request Form;

            

      	

            	•	
              Schedule B: Facilitated Unallocated Deposit Request Form;

            

      	

            	•	
              Schedule C: Transfer Request Form;

            

      	

            	•	
              Schedule D: Facilitated Unallocated Transfer Request Form; and

            

      	

            	•	
              Schedule E: Withdrawal Request Form.

            

    

    	

          	1.7	
            References herein to actions to be performed by the Sponsor shall be deemed to refer to the Sponsor acting on behalf of the Trust, unless the context otherwise requires.

          

    2. TERM OF AGREEMENT

    	

          	2.1	
            The Agreement is effective as of the date first mentioned above and will continue until terminated pursuant to either clause 11 or 12, as applicable.

          

    3. POOL ACCOUNT & AUTHORITY TO TRANSACT

    	

          	3.1	
            The Mint shall establish a Fine Gold Pool Account in the Trust’s name for the purposes of the Agreement.

          

    	

          	3.2	
            The Trust’s Pool Account will be credited following either:

          

    	

          	(i)	
            Direct Deposits;

          

    	

          	(ii)	
            Transfers of credits to the Trust’s Pool Account from pool accounts of third parties at the Mint;

          

    	

          	(iii)	
            Transfers of Fine Gold credits to the Trust’s Pool Account facilitated by the Mint originating from Loco London Accounts of Authorized Participants. In such a case, the Sponsor would provide
              the Mint with a Facilitated Unallocated Deposit Request Form signed by an Authorized Representative specifying the identity of the Authorized Participant who will be transferring Fine Gold credits to the Mint’s Loco London Account for the
              Trust’s benefit, the amount of Fine Gold credits to be transferred and the day on which the Fine Gold credits are to be transferred to the Mint’s Loco London Account. When the Mint accepts to facilitate such transfers and the Fine Gold
              credits are received by the Mint in its Loco London Account by 4:00 p.m. London time, the Mint would credit the Trust’s Pool Account with the same amount of Fine Gold credits on the same Business Day; if the Fine Gold credits are received by
              the Mint in its Loco

          

    
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    London Account after 4:00 p.m. London time, the Mint would credit the Trust’s Pool Account on the next Business Day. Property in the Fine
      Gold credits received by the Mint from Authorized Participants in its Loco London Account will vest with the Mint from the time the Trust’s Pool Account is credited by the Mint with an equivalent amount of Fine Gold credits. If, following the receipt
      of a Facilitated Unallocated Deposit Request Form, the Mint determines that it is not practicable to facilitate the transfer of the Fine Gold credits identified therein, the Mint will notify the Sponsor of such on the same Business Day it received
      the Facilitated Unallocated Deposit Request Form if the said form was received by no later than 4:00 p.m. Ottawa time, or, if received after 4:00 p.m. Ottawa time, on the following Business Day; in such a case, the Sponsor shall make alternative
      arrangements with the Authorized Participant.

    	

          	(iv)	
            Exchanges of ESG Approved Gold held by the Mint on an allocated basis pursuant to the allocated gold storage and custody agreement dated June 10, 2022, bearing number LS2021-065 entered into
              between the Trust, the Sponsor and the Mint (the “Allocated Gold Storage and Custody Agreement”) for Fine Gold credits to be held by the Mint on an unallocated basis pursuant to the terms of this agreement.

          

    	

          	3.3	
            The Fine Gold underlying the credits in the Trust’s Pool Account will be stored by the Mint on an unallocated basis, such that the Fine Gold will be used by the Mint within its general
              refinery and production operations and will not be held separately from the other Fine Gold held by the Mint on an unallocated basis. From time to time, such unallocated Fine Gold may be in the possession of third-party service providers
              engaged by the Mint to perform refining and other services. For the purposes of the Agreement, any such Fine Gold shall be deemed to be in the custodial care of the Mint, and, for greater certainty, shall be subject in all respects to the
              provisions of the Agreement.

          

    	

          	3.4	
            The Sponsor shall provide the Mint with the names and signatures of the authorized representatives who are empowered to transact in and manage the Pool Account on behalf of the Trust
              (collectively the “Authorized Representatives”). The Sponsor shall ensure that the list of the Authorized Representatives is kept up to date. Without prejudice to the foregoing, the Mint may, from time
              to time, request from the Sponsor confirmation of the list of Authorized Representatives and their respective signatures. Alternatively, the Mint and the Sponsor may establish, by mutual agreement in writing, different control mechanisms to
              establish authority for Pool Account transactions. In any event, it is agreed that the Mint is not liable for any transaction in the Trust’s Pool Account fraudulently executed in the name of an Authorized Representative.

          

    	

          	3.5	
            The Mint agrees to exercise the same degree of care and diligence in safeguarding the Fine Gold in the Pool Account as any reasonably prudent person acting as a custodian would exercise in the
              same circumstance or at least the same degree of care as it exercises with respect to its own property of a similar kind, if this is a higher degree of care.

          

    
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    4. TRANSFERS OF CREDITS, DIRECT DEPOSITS & PHYSICAL WITHDRAWALS

    TRANSFERS OF CREDITS

    	

          	4.1	
            From time to time, the Sponsor may wish to transfer Fine Gold credits from the Trust’s Pool Account to an Authorized Participant’s Loco London Account. In such a case, the Sponsor will provide
              the Mint with a Facilitated Unallocated Transfer Request Form signed by an Authorized Representative and the Mint will either:

          

    	

          	(i)	
            If practicable (as determined by the Mint), the Mint will transfer an amount of Fine Gold credits from its Loco London Account equal to the number of credits identified in the applicable
              Facilitated Unallocated Transfer Request Form to an Authorized Participant’s Loco London Account within two (2) Business Days following the receipt of the Facilitated Unallocated Transfer Request Form. In such a case, the Mint will debit an
              equal amount of Fine Gold credits from the Trust’s Pool Account; property in the Fine Gold credits debited from the Trust’s Pool Account will vest with the Mint from the time the Authorized Participant’s Loco London Account is credited by the
              Mint. For a service fee set forth in the Letter Agreement, the Mint will maintain an amount of Fine Gold credits in its Loco London Account available for use for the purpose of facilitating transfers of Fine Gold credits from the Trust’s Pool
              Account to an Authorized Participant’s Loco London Account in furtherance to this clause 4.1(i); the said amount of Fine Gold credits to be maintained by the Mint will fluctuate over time and will be equal to the total amount of Fine Gold
              credits received by the Mint in its Loco London Account from Authorized Participants’ Loco London Accounts in furtherance to sub-clause 3.2(iii), less (a) the total amount of Fine Gold credits debited from Trust’s Pool Account for Physical
              Withdrawals pursuant to sub-clause 4.22; and (b) the total amount of Fine Gold credits transferred to Authorized Participants’ Loco London Accounts in furtherance to sub-clause 4.1(i) and 4.1(ii).

          

    	

          	(ii)	
            If the Mint determines that the transaction outlined in sub-clause 4.1(i) is not practicable, the Mint will notify the Sponsor of such on the same Business Day it received the Facilitated
              Unallocated Transfer Request Form if the said form was received by no later than 4:00 p.m. Ottawa time, or, if received after 4:00 p.m. Ottawa time, on the following Business Day, and the Sponsor shall arrange for an amount of Fine Gold
              credits equal to the number of credits identified in the applicable facilitated Unallocated Transfer Request Form to be credited to the Mint’s Loco London Account by a third party holding an unallocated pool account with the Mint and shall
              forthwith provide the Mint with the identity of said third party. Within one (1) Business Day from the receipt by the Mint of the Fine Gold credits in its Loco London Account, the Mint will transfer the credits to the Authorized Participant’s
              designated Loco London Account.

          

    	

          	4.2	
            Within approximately one (1) Business Day from the receipt by the Mint of a duly filled out Transfer Request Form signed by an Authorized Representative, the Mint will transfer the specified
              number of credits from the Trust’s Pool Account to the pool account of a third party held at the Mint in accordance with said Transfer Request Form.

          

    	

          	4.3	
            When a transfer request is received from a third party to perform a transfer of credits from said third party’s pool account held at the Mint to the Trust’s Pool Account, a

          

    
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    Transfer Confirmation will be provided to the Sponsor by e-mail on the same Business Day the transfer of credits is executed.

    	

          	4.4	
            The Mint will only execute Transfers of Credits and/or Physical Withdrawals where the Trust has sufficient credits in its Pool Account.

          

    DIRECT DEPOSITS

    	

          	4.5	
            In order to make Direct Deposits, the Sponsor shall, for each Direct Deposit, submit to the Mint a duly filled out Direct Deposit Request Form signed by an Authorized Representative.

          

    	

          	4.6	
            Direct Deposit Request Forms shall be submitted to the Mint at least two (2) Business Days prior to the Business Day the Sponsor wishes the Fine Gold to be delivered to the Mint’s Facility.
              Within approximately one (1) Business Day following receipt of said form, the Mint shall inform the Sponsor of an acceptable date for the delivery of the Fine Gold at the Mint’s Facility. The Mint reserves the right to suggest an alternative
              delivery date or to refuse receipt of Fine Gold in the event of storage capacity limitations.

          

    	

          	4.7	
            The Sponsor agrees that it shall never conceal or misrepresent any material fact or circumstance concerning the Fine Gold delivered to the Mint.

          

    	

          	4.8	
            If Fine Gold arrives at the Mint’s Facility without a corresponding Direct Deposit Request Form having been submitted in accordance with this clause 4 or if the Fine Gold arrives on a
              different Business Day than the one confirmed by the Mint in accordance with sub-clause 4.6, the Mint may, at its discretion, refuse to accept delivery of such Fine Gold or any portion thereof. In such case, the Sponsor shall forthwith
              arrange for the return of such Fine Gold and shall provide Returning Instructions to the Mint. Pending the taking into possession of the Fine Gold by the Customer, the Mint may take any action it considers appropriate for handling said Fine
              Gold and, upon demand, the Customer shall pay to the Mint any reasonable expenses incurred by the Mint in doing so.

          

    	

          	4.9	
            The Sponsor shall ensure that Fine Gold delivered to the Mint’s Facility is packed in a manner that is safe and secure in accordance with industry standards. If the Fine Gold arrives at the
              Mint’s Facility on Improperly Packed Pallets, the Sponsor will be notified by the Mint that it considers the state of the packing to pose a potential safety hazard.

          

    	

          	4.10	
            Any container shipped to the Mint’s Facility must not exceed 90 pounds and must be in good condition. Pallets and strapping must be intact with the total weight of the respective pallets plus
              contents not exceeding 2,000 pounds. The containers must be packaged in a manner such that shipment is safe to handle, preferably using tamper-proof packaging and seals where possible. Each container will be clearly labelled with the Trust’s
              name and account number.

          

    	

          	4.11	
            In the event Fine Gold is not packaged in a manner that conforms to the requirements specified in sub-clauses 4.9 and/or 4.10, the Customer shall pay to the Mint supplementary handling charges
              to be assessed by the Mint acting reasonably on a case-by-case basis.

          

    
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          	4.12	
            The Sponsor shall provide the Mint, prior to the Fine Gold being shipped to the Mint’s Facility, a material safety data sheet identifying any chemicals used to treat the shipment or container
              for fumigation, insecticide, moisture control purposes, and for other similar purposes.

          

    	

          	4.13	
            The Customer hereby represents and warrants that any and all Fine Gold sent to the Mint shall not contain any deleterious and/or hazardous substances. Should the Customer know or suspect that
              the Fine Gold or any portion thereof may contain any deleterious and/or hazardous substances, the Sponsor shall notify the Mint of such in writing prior to the same being delivered to the Mint’s Facility. The Mint reserves the right to sample
              and test the Fine Gold for the presence of deleterious and/or hazardous substances. The Customer shall indemnify and hold harmless the Mint, its directors, officers, employees, and agents, in respect of any damages, costs or expenses or any
              claim, action, suit or other proceeding, including reasonable settlement, judgment and attorney’s fees, arising out of the presence of such deleterious and/or hazardous substances.

          

    	

          	4.14	
            The Mint reserves the right to reject Fine Gold which contain a deleterious and/or hazardous substance or is, or becomes, unsuitable or undesirable for handling or for metallurgical,
              environmental or other reasons.

          

    	

          	4.15	
            In the event a Direct Deposit is rejected by the Mint pursuant to sub-clause 4.14, the Sponsor shall forthwith arrange for the return of the Fine Gold relating thereto and provide the Mint
              with Returning Instructions. Pending the taking into possession of the Fine Gold by the Customer, the Mint may take any action it considers appropriate for handling said Fine Gold and, upon demand, the Customer shall pay to the Mint any
              reasonable expenses incurred by the Mint in doing so.

          

    	

          	4.16	
            The Sponsor shall enclose a packing list with any and all shipments of Fine Gold. Said packing list will include a detailed description of the contents of the shipment, identifying the count
              of individual items, type, gross weight in Ounces, the assay characteristics, the bar brands and the bar numbers.

          

    	

          	4.17	
            Direct Deposits that arrive at the Mint’s Facility after 3 p.m. Ottawa time on a Business Day shall be deemed received on the following Business Day for the purpose of determining the
              approximate date for crediting the Pool Account.

          

    	

          	4.18	
            Upon receiving Fine Gold at the Mint’s Facility in accordance with the terms and conditions contained herein, the Mint shall: (i) weigh the Fine Gold received in order to determine their gross
              weight and compare its weight results with the gross weight indicated in the applicable Direct Deposit Request Form; and (ii) when a shipment contains bars, compare the quantity of bars received and the respective bar numbers with the
              quantity of bars and bar numbers indicated in the applicable Direct Deposit Request Form.

          

    	

          	4.19	
            In the event the results of the Mint’s weighing, count and verification made pursuant to sub-clause 4.18 correspond to the information contained in the applicable Direct Deposit Request Form,
              the Mint shall, within approximately one (1) Business Day after the date of receipt of the Fine Gold at the Mint’s Facility, credit the Pool Account accordingly and transmit to the Sponsor a Deposit Receipt.

          

    
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          	4.20	
            In the event the Mint discovers a discrepancy between the results of its weighing, count and verification made pursuant to sub-clause 4.18 and the information contained in the applicable
              Direct Deposit Request Form, the Mint shall promptly send a Notice of Discrepancy to the Sponsor. In such an event, the Mint shall suspend all activity and the Sponsor shall forthwith either: (a) issue a revised Direct Deposit Request Form to
              correct said discrepancy; or (b) arrange for the return of the Fine Gold and provide Returning Instructions to the Mint. Notwithstanding the foregoing, in the event that the Mint’s weighing, count and verification result in an excess of Fine
              Gold, the Mint reserves the right to refuse to accept such excess Fine Gold; in such case, the Sponsor shall forthwith arrange for the return of said Fine Gold and provide Returning Instructions to the Mint.

          

    	

          	4.21	
            The parties expressly understand and agree that the Mint does not assume any liability as to the authenticity or assay characteristics of any Fine Gold and does not assume any liability in
              regards to any discrepancies identified between the weight, count, bar numbers and other items stated in the applicable Direct Deposit Request Form and the actual weight, count, bar numbers and other items verified pursuant to sub-clause 4.18
              of the Fine Gold received at the Mint’s Facility.

          

    PHYSICAL WITHDRAWALS

    	

          	4.22	
            The Sponsor may, by submitting to the Mint a duly filled out Withdrawal Request Form signed by an Authorized Representative, make a Physical Withdrawal of Fine Gold in the form of at least
              forty (40) 400-Ounce London Good Delivery bars of ESG Approved Gold (as defined below) to be stored by the Mint on an allocated basis pursuant to the Allocated Gold Storage and Custody Agreement. Notwithstanding the foregoing, the first such
              Physical Withdrawal of Fine Gold in the form of 400-Ounce London Good Delivery bars of ESG Approved Gold to be stored by the Mint under the Allocated Gold Storage and Custody Agreement may be made for an amount of at least fifteen (15)
              400-Ounce London Good Delivery bars.

          

    	

          	4.23	
            “ESG Approved Gold” is gold bullion refined by the Mint originating
              from mining companies and mines that meet certain environmental, social and governance (“ESG”) standards established by the Sponsor (the “ESG Criteria”). The ESG
              Criteria is intended to be in addition to those used in the LBMA Responsible Sourcing Program, as detailed in the LBMA’s Responsible Gold Guidance, and are designed to provide investors with an enhanced level of ESG scrutiny along with
              disclosure of the provenance of the metal sourced. The application of the ESG Criteria involves multiple levels of analysis. Each mining company that meets the applicable criteria will be designated as an “ESG Approved Mining Company”. The Sponsor will also evaluate individual mine site locations of ESG Approved Mining Companies. All mining companies and
              mines identified as potential sources for ESG Approved Gold must meet the Mint’s responsible sourcing requirements (the “Mint’s Responsible Sourcing Requirements”), including verifications made by the Mint in order to assess ongoing compliance with the requirements outlined under the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals
              from Conflict-Affected and High-Risk Areas, the LBMA Responsible Gold Guidance, the requirements of the Mint’s Responsible Metals Program and the Mint’s Anti-Money Laundering and Anti-Terrorist Financing Program in compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada). Each mining location of that ESG Approved Mining Company that meets the ESG Criteria and the Mint’s Responsible

          

    
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      Sourcing Requirements will be designated as an “ESG Approved Mine”. Only ESG Approved Mines that
        have entered into a refining agreement with the Mint on terms acceptable to the Mint will be permitted to supply the raw material for the production of ESG Approved Gold.

      	

            	4.24	
              The ESG factors used for the ESG assessment of mines and miners generally will encompass the following factors:

            

      Environmental Factors

      	

            	•	
              Energy use and greenhouse gas emissions

            

      	

            	•	
              Tailings and waste management

            

      	

            	•	
              Conservation and water management

            

      	

            	•	
              Mine site remediation

            

      Social Factors

      	

            	•	
              Worker safety and health

            

      	

            	•	
              Community relations

            

      	

            	•	
              Natural resource benefit to local communities

            

      	

            	•	
              Child and forced labour

            

      Governance Factors

      	

            	•	
              Corporate governance

            

      	

            	•	
              Workplace and gender diversity

            

      	

            	•	
              Fair executive compensation

            

      	

            	•	
              Corporate transparency and disclosures

            

      	

            	4.25	
              The ESG Criteria are anticipated to evolve over time without notice at the sole discretion of the Sponsor and one or more criterion may not be relevant with respect to all sources of gold.
                Factors that may result in a change to the ESG Criteria may include changes to current gold mining techniques or standards, evolving legal standards, the introduction of new standards or evaluation frameworks within the mining industry or
                the elimination of existing standards or frameworks that in the view of the Sponsor are relevant to the ESG assessment of a mining company or mine site.

            

      	

            	4.26	
              The Mint’s Responsible Sourcing Requirements are anticipated to evolve over time without notice at the sole discretion of the Mint. The Mint will also stop refining gold from ESG Approved
                Mines that no longer meet the Mint’s Responsible Sourcing Requirements, as determined by the Mint from time to time.

            

      	

            	4.27	
              The Sponsor is responsible for any costs associated with researching, establishing and maintaining the ESG Criteria, assessing mining companies and mines
                  against certain of the ESG Criteria and the diligence of the Trust’s ESG Approved Gold holdings, and will conduct research on each mining company using its in-house investment professionals. The
                  Sponsor will use its judgment to reach a final determination on an ESG Approved Mine by considering a variety of objective and subjective factors. For example, the Sponsor intends to objectively analyze third party assessments (including
                  ratings of mining companies or mining sites), sell-side research analyst reports and

            

    

    
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    company reports. Other factors associated with the evaluation of a mining company or a mining site, including interviews with key personnel
      to assess whether such a mining company or mine meets the ESG Criteria, will require the subjective judgment of the Sponsor.

    	

          	4.28	
            The Mint expects that it will be able to refine and produce ESG Approved Gold within approximately five (5) days following the receipt of a duly filled out Withdrawal Request Form signed by an
              Authorized Representative, subject to availability, production capacity and certain minimum size requirements specified in sub-clause 4.22 hereof. The Business Day on which the Physical Withdrawal is to occur will be confirmed to the Sponsor
              in writing by the Mint.

          

    	

          	4.29	
            A Receipt of Deposit will be issued to the Sponsor by e-mail on the Business Day the production of all ESG Approved Gold
                underlying a Withdrawal Request Form is completed. The said ESG Approved Gold will be deemed to be stored under the Allocated Gold Storage Agreement as of the issuance of the applicable Receipt of Deposit.

          

    	

          	4.30	
            Although ESG Approved Gold is of guaranteed weight and purity, the Mint provides no warranty with respect to the suitability thereof for any particular purpose. The Mint provides no warranty
              whatsoever and assumes no legal liability or responsibility with respect to the merchantability or fitness for any purpose of and/or the presence of any contaminants in ESG Approved Gold. Moreover, neither the Mint, nor any of its officers,
              agents, directors or employees, makes any warranty or assumes any legal liability or responsibility with respect to any impurities which may be contained in ESG Approved Gold.

          

    TIMEFRAMES

    	

          	4.31	
            Timeframes relating to Work to be done by the Mint under this clause 4 are estimates only. The Mint will endeavour to meet these estimates. However, the parties agree that the Mint will not be
              liable for any damages, costs and/or expenses which may be sustained by the Customer arising out of the Mint exceeding said estimates.

          

    TRANSPORTATION COSTS

    	

          	4.32	
            Except when otherwise specified in the Agreement, all Transportation Costs to and from the Mint’s Facility shall be borne by the Customer.

          

    5. STATEMENTS; ACCESS TO RECORDS AND INSPECTION RIGHTS

    	

          	5.1	
            The Mint will send the Sponsor an inventory statement for the Account on a daily basis.  Monthly inventory statements shall also be issued no later than seven (7) Business Days following the
              end of each calendar month. Daily and monthly inventory statements will include a summary of all Pool Account activity processed during the day the statement is issued or during the previous calendar month, as applicable, in addition to the
              Pool Account balance.

          

    	

          	5.2	
            The Mint will cooperate with the Trust’s officers, properly designated representatives and independent public accountants with respect to information or
                confirmation and other reasonable assistance needed regarding the records of the Pool Account for the

          

    
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    purpose of confirming the content of those records. In addition, the Mint understands that, in connection with the preparation of the
      Trust’s financial statements that will be filed from time to time with the U.S. Securities and Exchange Commission, officers of the Sponsor will be required by law or regulation to provide written assurances regarding the reliability of the internal
      controls used in the preparation of those financials. To the extent that the Mint’s activities or controls with respect to providing services related to the Pool Account are relevant to the information presented in the Trust’s financial statements,
      the Mint will reasonably cooperate with the Sponsor to enable the Sponsor to provide the required written assurances referred to above and to enable the Trust’s independent public accountants to provide any required attestation or reporting in
      connection with such assurances.

    6. FEES AND CHARGES

    	

          	6.1	
            The Sponsor will pay to the Mint the fees and charges as agreed pursuant to that certain letter agreement between the Sponsor and the Mint dated June 10, 2022, bearing number LS2021-067 (the “Letter Agreement”), in addition to any other fees, charges and costs to be paid pursuant to the Agreement.

          

    7. REPRESENTATIONS, WARRANTIES & INDEMNIFICATION

    	

          	7.1	
            The Customer represents and warrants that:

          

    	

          	(a)	
            the Fine Gold sent to the Mint’s Facility for Direct Deposits does not originate from, and are not related to, any form of illegal, unlawful or criminal activity;

          

    	

          	(b)	
            it has legal title to, or is the duly authorized agent of the owner of, the Fine Gold sent to the Mint’s Facility for Direct Deposits, and that possession thereof is transferred to the Mint
              free and clear of all liens and encumbrances;

          

    	

          	(c)	
            no bribe, gift or other inducement has been paid, given, promised or offered to any official or employee of the Mint for, or with a view to, the obtaining of the Agreement by the Customer; and

          

    	

          	(d)	
            it has not employed any person to solicit or secure the Agreement upon any agreement for a commission, percentage, brokerage or contingent fee.

          

     

    

    
      	

            	7.2	The Customer shall indemnify and hold harmless the Mint, its directors, officers, employees, and agents, in respect of any damages, losses, costs or expenses or any claim,
              action, suit or other proceeding, including reasonable settlement, judgment and attorney’s fees, arising out of:

    

    	

          	(a)	
            the presence of any employee, agent, representative or contractor of the Customer at the Mint’s Facility in connection with the Agreement; and

          

    	

          	(b)	
            any material breach of the material representations, warranties or covenants made by the Customer under the Agreement, including, but not limited to, those contained under sub-clause 7.1.

          

    8. RISK OF LOSS AND DESTRUCTION & COMPENSATION

    	

          	8.1	
            The Mint shall take good care, custody and control of the Fine Gold in the Pool Account and bears the risks of loss, theft or destruction of the unallocated Fine Gold underlying the credits in
              the Customer’s Pool Account from the time the Fine Gold has been taken

          

    
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    into the Mint’s possession and control, whether through Direct Deposits or through Transfers of Credits. Should the Mint discover a
      discrepancy between the results of its weighing, count and verification made pursuant to sub-clause 4.18 and the information contained in the applicable Direct Deposit Request Form, the Mint’s liability under the Agreement for the Fine Gold relating
      to the pertinent Direct Deposit shall be immediately adjusted to the gross weight in Ounces of such Fine Gold as determined by the Mint upon the issuance by the Mint of a Notice of Discrepancy. In no event shall the Mint be liable for Fine Gold which
      was not actually delivered to the Mint’s Facility or taken into the Mint’s possession and control.

    	

          	8.2	
            The Mint’s liability in respect of any portion of Fine Gold for the purposes of the above sub-clause 8.1 will terminate upon: (i) a Transfer of Credits; (ii) at the expiration of the sixty
              (60) calendar days’ prior notice of termination for convenience pursuant to clause 12, whether or not the Fine Gold remains in the Mint’s custody; or (iii) thirty (30) calendar days following the termination of the Agreement for default,
              whether or not the Fine Gold remains in the Mint’s custody.

          

    	

          	8.3	
            ESG Approved Gold produced in furtherance to a Withdrawal Request Form is subject to the terms of the Allocated Gold Storage Agreement from the time the applicable Receipt of Deposit is issued
              by the Mint in accordance with the terms hereof, including, without limitation, the terms thereof relating to risk of loss, limitation of liability and compensation in the event of a loss, theft or destruction.

          

    	

          	8.4	
            Notwithstanding anything to the contrary in the Agreement and in addition to any other limitations of liability of the Mint provided herein and/or at law, the Mint is not liable for any
              damages, losses, costs and/or expenses and/or for non-performance and/or delays of service caused by or resulting from any of the following, whether suffered directly or indirectly by the Mint:

          

    	

          	(a)	
            either: (1) war, hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual, impending or expected attack (i) by any government
              or sovereign power (de jure or de facto), or by any authority maintaining or using military, naval or air forces; or (ii) by military, naval or air forces; or (iii) by an agent of any such government, power, authority or forces; or (2)
              insurrection, rebellion, revolution, civil war, usurped power or action taken by governmental authority in hindering, combating or defending against such an occurrence or confiscation by order of any government or public authority.

          

    	

          	(b)	
            either: (i) any chemical, biological, or electromagnetic weapon; (ii) the use or operation, as a means for inflicting harm, of any computer, computer system, computer software, computer
              software program, malicious code, computer virus or process or any other electronic system; (iii) ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear
              fuel; (iv) the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof; (v) any weapon or device employing atomic or nuclear
              fission and/or fusion or other like reaction or radioactive force or matter; or (vi) the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter; the exclusion in this sub-clause (vi) does not
              extend to radioactive isotopes, other than nuclear

          

    
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    fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar
      peaceful purposes.

    	

          	(c)	
            any act of terrorism or any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism. An act of terrorism means an act, including but not limited to
              the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or
              similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear;

          

    	

          	(d)	
            a case of Force Majeure.

          

    	

          	8.5	
            Should the Mint discover a loss, theft and/or destruction of Fine Gold that would diminish the quantity of physical, unallocated Fine Gold owned by the Customer under the Agreement (or
              regarding which the Customer is the duly authorized agent of the owner), the Mint shall give a Notice of Loss to the Sponsor, in the manner specified in sub-clause 13.1, within five (5) Business Days of the Mint’s discovery of any such loss,
              theft and/or destruction. Should the Sponsor receive a monthly statement of account in which a discrepancy in the quantity of Fine Gold credits first appears, the Sponsor shall give the Mint, in the manner specified in sub-clause 13.2, a
              Notice of Loss regarding such a discrepancy no later than sixty (60) calendar days following reception of the said monthly statement of account. In the event that a Notice of Loss is given by either party in accordance with the above, the
              Sponsor shall forthwith provide the Mint with an affirmative written statement, subscribed and sworn to by a duly authorized officer or employee of the Customer, detailing the Fine Gold lost, stolen or destroyed and substantiated by the
              books, records and accounts of the Customer. Should the Sponsor either (i) fail to give a Notice of Loss within the period stated herein; or (ii) fail to bring an action, suit and/or proceeding within twelve (12) months from the receipt of a
              monthly statement of account in which a discrepancy in the quantity of Fine Gold credits first appears, all claims with respect to the Fine Gold credits not appearing on the monthly statement of account shall be deemed to have been waived,
              and no action, suit and/or other proceeding in relation thereto shall be brought against the Mint.

          

    	

          	8.6	
            Conditional upon the Sponsor giving the Mint a Notice of Loss in accordance with sub-clause 8.5 where the Sponsor discovers a discrepancy in the quantity of Fine Gold credits stated in the
              monthly statement of account, in the event of loss, theft and/or destruction of Fine Gold where the Mint bears the risks of loss or destruction in accordance with the Agreement, the Mint shall, at its discretion, either:

          

    	

          	(i)	
            as soon as practicable, replace the quantity of lost, stolen and/or destroyed Fine Gold;

          

    	

          	(ii)	
            as soon as practicable, compensate the Trust via the Sponsor for the monetary value of the lost, stolen and/or destroyed Fine Gold using the p.m. price of gold expressed in U.S. dollars, as
              published by the LBMA (or, should the LBMA cease to publish gold prices, any other gold spot rate selected by the Mint acting reasonably), on the first (1st) trading day following the discovery of the said loss, theft and/or destruction by the Mint, if first
              discovered by the Mint, or, if first discovered by the Customer, on the first (lst) trading day following the date the relevant Notice of Loss was given to the Mint; or

          

    
      Page 15 of 28

      
        

    

    

    

    	

          	(iii)	
            as soon as practicable, replace a portion of the lost, stolen and/or destroyed Fine Gold and compensate the Trust via the Sponsor for the monetary value of the remaining portion of lost,
              stolen or destroyed Fine Gold using the p.m. price of gold expressed in U.S. dollars, as published by the LBMA (or, should the LBMA cease to publish gold prices, any other gold spot rate selected by the Mint acting reasonably), on the first
              (1st) trading day following
              the discovery by the Mint of said loss, theft and/or destruction, if first discovered by the Mint, or, if first discovered by the Customer, on the first (1st) trading day following the date the relevant Notice of Loss was given to the Mint.

          

    	

          	8.7	
            Except as otherwise specifically provided under the Agreement, neither party shall be liable for special, incidental, consequential, indirect and/or punitive losses and/or damages (including
              lost profits and/or lost savings), whether or not they had knowledge that such losses and/or damages might be incurred.

          

    	

          	8.8	
            Upon the Mint replacing and/or compensating the Trust for a loss and/or destruction of Fine Gold as provided in this clause 8, the Customer hereby agrees to and does hereby assign to the Mint
              all of its rights, title and interests in the lost and/or destroyed Fine Gold and in the Customer’s rights of recovery against third parties in relation to the said lost and/or destroyed Fine Gold, and agrees to execute any documents
              necessary to perfect such assignment upon request by the Mint or the Mint’s insurers.

          

    9. CONFIDENTIALITY

    	

          	9.1	
            Subject to the exceptions set out below, the receiving party shall keep confidential the disclosing party’s Confidential Information and shall not use any of the disclosing party’s
              Confidential Information except for the purposes contemplated in the Agreement.

          

    	

          	9.2	
            The receiving party shall disclose the Confidential Information only to those of its own employees, agents or consultants who require the Confidential Information for the purpose of the
              Agreement. Prior to disclosure of the Confidential Information to its own employees, agents or consultants, the receiving party shall issue, or shall have issued, appropriate instructions to satisfy its obligations under the Agreement. Any
              agents or consultants to whom the disclosing party’s Confidential Information is to be disclosed shall be first bound, by agreement in writing, to observe terms of confidentiality which are at least as stringent as those set out in the
              Agreement.

          

    	

          	9.3	
            Confidential Information shall be maintained by the receiving party in the same manner as the receiving party keeps its own Confidential Information of a similar nature and, in any event, the
              Confidential Information shall be kept in accordance with reasonable and prudent standards.

          

    	

          	9.4	
            The receiving party shall not be liable for disclosure of the Confidential Information where disclosure is made in either of the following cases:

          

    	

          	(a)	
            the Confidential Information had already entered the public domain other than through a breach of the Agreement;

          

    	

          	(b)	
            prior to disclosure, the Confidential Information was lawfully obtained by the receiving party from a third party or parties without restriction on disclosure and

          

    
      Page 16 of 28

      
        

    

    

    

    without a breach of the Agreement;

    	

          	(c)	
            the Confidential Information was known to the receiving party without restriction on disclosure prior to its initial disclosure by the other;

          

    	

          	(d)	
            the Confidential Information is independently developed by the receiving party; or

          

    	

          	(e)	
            the disclosure is required by law and/or pursuant to an order of a court, administrative tribunal, regulatory authority or other body having the power to compel the production of Confidential
              Information, or pursuant to a government directive or policy. Such disclosure shall be made only to the extent so ordered.

          

    	

          	9.5	
            The Mint is subject to the Access to Information Act (Canada) and is required thereunder to respond within statutory deadlines to any access to
              information request. In so doing, the Mint will manage any disclosure of records it deems responsive in its control in accordance with the Access to Information Act and will redact commercially
              sensitive third-party information as permitted by law. The Mint is subject to the Privacy Act (Canada), which is the Canadian federal public sector privacy legislation regarding the collection, use,
              disclosure and protection of personal information. The Privacy Act requires that the Mint only use personal information for the purposes for which it is collected. The Mint will comply with the
              applicable requirements of the Privacy Act and will not share personal information collected through its due diligence activities with any third party, including but not to limited to, the Sponsor
              and the Trust.

          

    10. MAINTAINING POOL ACCOUNT ACTIVE

    	

          	10.1	
            The Mint reserves the right to deem the Pool Account as inactive if there exists no account activity within eighteen (18) consecutive months.

          

    	

          	10.2	
            Where the Pool Account has been deemed inactive in accordance with sub-clause 10.1, the Mint may, at its discretion, deactivate said Pool Account following sixty (60) calendar days’ prior
              written notice to the Sponsor.

          

    	

          	10.3	
            The Mint may also, at its discretion, deactivate the Pool Account by giving the Sponsor a written notice to that effect upon or following the termination of the Agreement in accordance with
              clause 11 or 12, as applicable.

          

    	

          	10.4	
            If, upon the Pool Account being deactivated, there exists a positive balance therein, the Sponsor shall forthwith either: (a) make a Physical Withdrawal of the remaining credits; and/or (b)
              make a Transfer of Credits of the remaining credits.

          

    	

          	10.5	
            Where the Customer opts to make a Physical Withdrawal of the positive balance and/or a Transfer of Credits, said transactions will be subject to all applicable standard processing fees and
              charges (including, without limitation, Transfer of Credits charges, fabrication fees, handling fees).

          

    	

          	10.6	
            In the case described in sub-clause 10.4, the Mint may also, at the Mint’s sole discretion, make an offer in writing to the Sponsor to purchase the remaining Pool Account credits at a price
              based on the p.m. price of gold expressed in U.S. dollars, as published by the LBMA (or, should the LBMA cease to publish gold prices, any other gold spot rate as selected by the Mint acting reasonably), on the Business Day the Mint gives the
              offer to the Sponsor, subject to any required pricing adjustments (e.g. trading spread relative

          

    
      Page 17 of 28

      
        

    

    

    

    to the p.m. price).

    	

          	10.7	
            Where the Mint makes an offer to the Sponsor pursuant to sub-clause 10.6, the Sponsor shall have two (2) Business Days to notify the Mint in writing of the acceptance or rejection of the
              offer. If the Sponsor does not accept the offer within two (2) Business Days, the offer is deemed rejected. In the case where the Sponsor expressly rejects the offer or the offer is deemed rejected, the Sponsor shall forthwith pursue options
              (a) and/or (b) under sub-clause 10.4. If the Sponsor accepts the offer, the Mint will make a payment to the Sponsor within three (3) Business Days from the Mint’s receipt of the notice of acceptance of the offer, at which time the credits
              will be transferred to the Mint and the underlying Fine Gold will become the Mint’s property.

          

    	

          	10.8	
            Where there is a positive balance in the Pool Account being deactivated and the Sponsor fails to either make a Physical Withdrawal and/or make a Transfer of Credits of the remaining credits
              within five (5) years from the date the Pool Account has been deactivated, the Pool Account will be deemed to be abandoned, and will be closed. Any credits in the Pool Account will be removed and held by the Mint in reserve for a further five
              (5) years. Said credits may still be claimed by the Sponsor during this 5-year period, after which time the credits and the underlying Fine Gold will be forfeited and paid to the Mint.

          

    	

          	10.9	
            If, upon deactivation, there exists a negative balance in the Pool Account, the Customer shall, without delay, either: (a) make a Direct Deposit equal to the quantity of the Fine Gold required
              to offset the outstanding negative balance in accordance with the terms and conditions of clause 4; or (b) purchase unallocated Fine Gold credits from an existing Mint customer who maintains an active pool account with the Mint in the amount
              required to offset the outstanding negative balance and provide the existing Mint customer with instructions to transfer said credits to the Mint.

          

    11. TERMINATION FOR DEFAULT

    	

          	11.1	
            Where: (i) the Sponsor and/or the Trust is in default in carrying out any of its obligations under the Agreement and fails to correct said default within ten (10) Business Days following a
              written notice sent by the Mint to the Sponsor and the Trust informing them of the default; (ii) the Sponsor and/or the Trust is dissolved or adjudged bankrupt, or a trustee, receiver or conservator of the Sponsor and/or the Trust or of their
              property is appointed, or an application for any of the foregoing is filed; or (iii) the Sponsor and/or the Trust is in material breach of any material representation or warranty contained herein, the Mint may, upon giving written notice to
              the Sponsor and the Trust, terminate the Agreement.

          

    	

          	11.2	
            Where: (i) the Mint is in default in carrying out any of its obligations under the Agreement and fails to correct said default within ten (10) Business Days following a written notice sent by
              the Sponsor to the Mint informing the latter of the default; (ii) the Mint is dissolved or adjudged bankrupt, or a trustee, receiver or conservator of the Mint or of its property is appointed, or an application for any of the foregoing is
              filed; or (iii) the Mint is in material breach of any material representation or warranty contained herein, the Sponsor may, upon giving written notice to the Mint, terminate the Agreement.

          

    	

          	11.3	
            In the event the Mint is in possession of a Direct Deposit which has not been credited

          

    
      Page 18 of 28

      
        

    

    

    

    to the Pool Account prior to giving the written notice of termination pursuant to clause 11.1 or 11.2, as applicable, the Sponsor shall,
      upon receipt of the said written notice, arrange for the return of the Fine Gold relating to such Direct Deposit and provide the Mint with Returning Instructions.

    	

          	11.4	
            In case of termination by the Mint pursuant to the present clause, (i) the Customer shall be liable towards the Mint for all losses and damages which may be suffered by the Mint by reason of
              the default or occurrence upon which the termination was based.

          

    12. TERMINATION FOR CONVENIENCE

    	

          	12.1	
            Notwithstanding anything contained herein, either party to the Agreement may, at its sole discretion, terminate the Agreement by giving the other party sixty (60) calendar days’ written notice
              to that effect.

          

    	

          	12.2	
            In the event the Mint is in possession of a Direct Deposit which has not been credited to the Pool Account prior to the giving of the written notice of termination pursuant to sub-clause 12.1,
              the Sponsor shall, upon receipt of the said written notice, arrange for the return of the Fine Gold relating to such Direct Deposit and provide the Mint with Returning Instructions. The Mint shall reimburse the Sponsor for all reasonable and
              duly substantiated Transportation Costs in relation thereto where such notice of termination is given by the Mint.

          

    	

          	12.3	
            In the event of termination under the present clause, the Customer will have no claim for compensation except as otherwise specified in the Agreement and will have no claim for damages or loss
              of profit as a result of the termination.

          

    13. NOTICES

    	

          	13.1	
            Except as provided under sub-clause 13.2, any notice given under the Agreement will be in writing, and will be delivered by messenger, by prepaid registered mail or by email to the following
              addresses:

          

    
      
        	

              	If to the Mint:	
                If to the Sponsor:

              

        

        

        	

              	Royal Canadian Mint	
                Sprott Asset Management LP

              

        	

              	320 Sussex Drive	
                320 Post Road, Suite 230

              

        	

              	Ottawa, Ontario, Canada K1A 0G8	
                Darien, Connecticut 06820

              

        	

              	c/o Lorne Whitmore	
                Attention: Whitney George

              

        	

              	Managing Director, Sales	
                Email: wgeorge@sprottusa.com

              

         B2B — Bullion & Numismatic

         Email: whitmore@mint.ca

        

        

         If to the Trust:

        

        

        Sprott ESG Gold ETF

        c/o Sprott Asset Management LP

        320 Post Road, Suite 230

        Darien, Connecticut 06820

        Attention: Whitney George

      

       

      

    

     

    

    

    

    
      Page 19 of 28

      
        

    

    

    

    Email: wgeorge@sprottusa.com

    	

          	13.2	
            Notwithstanding sub-clause 13.1, a Notice of Loss given by the Sponsor to the Mint pursuant to sub-clause 8.5 will be in writing and will be delivered by email to the following address:

          

    Royal Canadian Mint

    c/o Norman Toye

    Treasury and Risk Management Department

    Email: mintriskmgt@mint.ca

    	

          	13.3	
            A party may change its address by informing the other party of the new address in writing.

          

    	

          	13.4	
            A notice shall be deemed to have been given: (i) when received, if delivered by messenger; (ii) upon electronic confirmation
                of delivery, if delivered or transmitted by email (or, if such day is not a Business Day or if delivery or transmission is made on a Business Day after 5:00 p.m. at the place of receipt, then on the next Business Day); or (iii) on the
                fourth (4th) Business Day following the date of mailing, if sent by prepaid registered mail; provided, however, that if at the time of mailing or within four
                (4) Business Days thereafter there is or occurs a labour dispute or other event which might reasonably be expected to disrupt the delivery of documents by mail, any notice hereunder shall be delivered or transmitted by means of email.

          

    	

          	13.5	
            Any party sending a Notice of Loss shall also endeavour to call the receiving party on the day the Notice of Loss is issued, to notify them of the issuance of the Notice of Loss, at the
              following telephone numbers:

          

    
      	

            	If to the Mint:	
              If to the Sponsor:

            

      	

            	Royal Canadian Mint	
              Sprott Asset Management LP

            

      	

            	Treasury and Risk Management	
              c/o Whitney George

            

      	

            	Department	
              Telephone: 203-636-0977

            

      c/o Norman Toye

      Telephone: 613-851-1022

    

     

    

    

    14. SURVIVAL OF CLAUSES

    	

          	14.1	
            All the parties’ obligations of confidentiality, indemnification, representations and warranties set out in the Agreement, the provisions relating to the maintaining of active Pool Account,
              the provisions relating to payment of charges, taxes and other amounts, as well as the provisions which, by the nature of the rights or obligations might reasonably be expected to survive, will survive the termination of the Agreement, in
              addition to any other provisions which survive by operation of law.

          

    15. AMENDMENTS

    	

          	15.1	
            Except as specifically provided for herein, the Agreement may not be waived, altered or amended except by an instrument in writing duly executed by the Customer and the Mint.

          

    
      Page 20 of 28

      
        

    

    

    

    16. ASSIGNMENT

    	

          	16.1	
            The Agreement shall be binding on the Customer and the Mint and their respective successors and permitted assigns. Neither the Customer nor the Mint shall assign or transfer its rights or
              obligations hereunder without the prior written consent of the other party. Any such consent shall not be unreasonably delayed and/or withheld.

          

    17. SEVERABILITY

    	

          	17.1	
            If any provision of the Agreement is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision and all other
              provisions hereof shall continue in full force and effect.

          

    18. WAIVER

    	

          	18.1	
            The failure of a party to insist upon strict adherence to any term of the Agreement on one or more occasions will not be considered a waiver or deprive the party of the right thereafter to
              insist upon strict adherence to that term or any other term of the Agreement.

          

    19. MEMBERS OF THE HOUSE OF COMMONS

    	

          	19.1	
            No Member of the House of Commons shall be admitted to any share or part of the Agreement or to any benefit to arise therefrom.

          

    20. INVESTMENT ADVICE

    	

          	20.1	
            It is understood and agreed that, as part of its services under the Agreement, the Mint has not undertaken a duty to supervise the Trust’s and the Customer’s investment in, or to make any
              recommendation to the Trust or the Customer with respect to, the purchase, sale or other disposition of Fine Gold or the balance of credits the Customer maintains in its Pool Account.

          

    21. NO PARTNERSHIP

    	

          	21.1	
            Nothing contained in the Agreement shall create between the parties the relationship of principal and agent, mandator and mandatary, partnership or joint venture. The Customer has no authority
              to and undertakes not to make any representation relating to the Mint, nor give any warranty or representation on behalf of the Mint, without the Mint’s prior written authorization. The Customer will be liable for any and all damages, losses
              and costs, including special, incidental, consequential, indirect and punitive damages, losses and costs (including lost profits and lost savings) suffered by the Mint as a result of a breach of any of the above undertakings. The Customer
              recognizes and acknowledges that any breach or threatened breach of the above undertakings may cause the Mint irreparable harm for which monetary damage may be inadequate. The Customer agrees therefore that the Mint shall be entitled to seek
              an injunction to restrain the Customer from such breach or threatened breach.

          

    22. Reserved.

    
      Page 21 of 28

      
        

    

    

    

    23. APPLICABLE LAW AND ARBITRATION

    	

          	23.1	
            The Agreement and all matters relating to the Agreement (whether in contract, statute, tort (including, without limitation, negligence) or otherwise is governed by, and construed in accordance
              with, the laws of the Province of Ontario (without giving effect to the choice of law principles thereof).

          

    	

          	23.2	
            Any dispute arising out of or in connection with the Agreement, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by
              arbitration in accordance with the Commercial Arbitration Act (Canada) and any amendments thereto. The number of arbitrators will be one (1). The place of arbitration will be the city of Ottawa,
              Ontario, Canada. The language to be used in arbitral proceedings is English and/or French. Subject to any applicable law, the proceedings, all submissions to arbitrators and the award shall be confidential.

          

    24. COUNTERPARTS

    	

          	24.1	
            The Agreement may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed will be deemed to be an original and all of which
              taken together will constitute one and the same agreement. Delivery by facsimile or by electronic transmission in portable document format (PDF) of an executed counterpart of the Agreement is as effective as delivery of an originally executed
              counterpart of the Agreement.

          

    25. ENTIRE AGREEMENT

    	

          	25.1	
            This Agreement, the Allocated Gold Storage and Custody Agreement and the Letter Agreement (collectively, the “Agreements”) constitute the entire
              agreement between the parties hereto with respect to the subject matter hereof, and supersede all previous negotiations and documents in relation thereto. There are no warranties, conditions, or representations (including any that may be
              implied by statute) and there are no agreements in connection with such subject matter except as specifically set forth or referred to in the Agreements. No reliance is placed on any warranty, representation, opinion, advice or assertion of
              fact made either prior to or contemporaneous with the entering into the Agreements by any party to the Agreements to any other party to the Agreements, except to the extent that the same has been reduced to writing and included as a term of
              the Agreements, and none of the parties to the Agreement has been induced to enter into the Agreements by reason of any such warranty, representation, opinion, advice or assertion of fact. Accordingly, there is no liability, either in tort or
              in contract, assessed in relation to any such warranty, representation, opinion, advice or assertion of fact, except to the extent contemplated in the Agreements.

          

    [Remainder of page left intentionally blank.]

    
      Page 22 of 28

      
        

    

    

    

    IN WITNESS WHEREOF the parties are signing the Agreement through their duly authorized representatives.

    	
            ROYAL CANADIAN MINT

          	
            SPROTT ASSET MANAGEMENT LP, by its general partner, SPROTT ASSET MANAGEMENT GP INC.

          
	 	 
	
             ________ 

            

             

            

            /s/ Tom Froggatt                                              

              

             
            Tom Froggatt

            Chief Commerical Officer

          	
              

            /s/ W. Whitney George_______________

            Name: W. Whitney George

            Title    Director

          
	 	 
	 	 
	
              

            /s/ Lenard Cheung______________________

            Lenard Cheung

            Acting Vice-President Finance and

            Administration & CFO

          	 
	 	 
	 	 
	
            SPROTT ESG GOLD ETF, by SPROTT ASSET MANAGEMENT LP, in its capacity as the sponsor

          	 
	 	 
	 	 
	
            /s/ W. Whitney George___________________ 

               

             
            Name: W. Whitney George

            Title    Director

          	 

    

    

    
      Page 23 of 28

      
        

    

    
    

    

    
      Schedule A — Direct Deposit Request Form

      Customer Name:___________________________________

      Delivery Date: _________________________________

      Gross Weight in Ounces: _________________________________

      Count:_________________________________________________

      Metal Type(s): _________________________________________

      Assay Characteristics: _________________________________________

      Account # to be credited: _________________________________________

      Bar Numbers: _________________________________________

      Bar Brands: _________________________________________

      Name of Authorized Representative: _________________________________________

      Signature: _________________________________________

      Date: _________________________________________

      
        Page 24 of 28

        
          

      

      

      

      Schedule B — Facilitated Unallocated Deposit Request Form

      Customer Name: ___________________________________

       
      Name of Authorized Participant who would transfer Fine Gold Credits to the
        Mint’s unallocated Loco London Account:

       
      ________________________________________________

       
      Amount of Fine Gold Credits that would be transferred to the Mint’s unallocated
        Loco London Account:

       
      ________________________________________________

       
      Authorized Participant’s unallocated Loco London Account information from which
        the Fine Gold Credits would be transferred:

       
      ________________________________________________

       
      Date on which the Authorized Participant would transfer the Fine Gold credits
        to the Mint’s unallocated Loco London Account:

       
      ________________________________________________

       
      Name of Authorized Representative: _________________________________________

       
      Signature: _________________________________________

       
      Date: _________________________________________

      
        Page 25 of 28

        
          

      

      

      

      Schedule C — Transfer Request Form

      Customer Name:_____________________________

       
      Value date of Transfer:________________________________

       
      Amount to be transferred in Gross Ounces:_________________________

       
      Metal Type(s): _________________________________________

       
      Account # to be debited: _________________________________________

       
      Account # to be credited: _________________________________________

       
      Name of Authorized Representative: _________________________________________

       
      Signature: _________________________________________

       
      Date: _________________________________________

      
        Page 26 of 28

        
          

      

      

      

      Schedule D — Facilitated Unallocated Transfer Request Form

      Customer Name: _________________________________________

       
      Name of Authorized Participant to whom Fine Gold Credits would be transferred to:

       
      ________________________________________________

       
      Amount of Fine Gold Credits that would be transferred to the Authorized
        Participant’s unallocated Loco London Account:

       
      ________________________________________________

       
      Authorized Participant’s unallocated Loco London Account information to which
        the Fine Gold Credits would be transferred:

       
      ________________________________________________

       
      Date on which the Fine Gold credits would be transferred to the Mint’s
        unallocated Loco London Account:

       
      ________________________________________________

       
      Name of Authorized Representative: _________________________________________

       
      Signature: _________________________________________

       
      Date: _________________________________________

      
        Page 27 of 28

        
          

      

      

      

      Schedule E — Withdrawal Request Form

      Customer Name: _________________________________________

      Requested date of Physical Withdrawal (desired fabrication date): _________________________________________

      Amount to be withdrawn/produced in gross Ounces: _________________________________________

      Metal Type(s): gold

      Form: 400-Ounce London Good Delivery bars.

      Account # to be debited:

      Name of Authorized Representative: _________________________________________

      Signature: _________________________________________

      Date: _________________________________________

    

    

    

    

    

    

    Page 28 of 28

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