Sprott Sprott Physical Uranium Trust CEF GOLD & SILVER PHYS GOLD PSLV SILVER SPPP PLATINUM & PALLADIUM U.UU.UN URANIUM as of 11/22/2021 NAV $US11.89 NAV Daily Change -($0.06) -0.25% NAV Since Inception Change +41.88% Management Fee 0.35% Market Price $US11.29 Premium/Discount -5.01% Total lbs of U3O8 39,796,955 Total KgU of UF6 300,000 888.622.1813 uranium@sprott.com Fact Sheet Uranium Calculator Regulatory Documents Overview Pricing Performance Uranium Held Literature Tax & Resources How to Purchase Contact Us Overview Investment Objective The Sprott Physical Uranium Trust invests and holds substantially all of its assets in uranium in the form of U3O8. Goal Provide a secure, convenient and exchange-traded investment alternative for investors interested in holding uranium. Why Invest in U.UN? The World's Largest Physical Uranium Fund* Experienced Commodity Fund Manager & Uranium Technical Advisor Liquid and Convenient Way to Own Physical Uranium Transparent Daily Reporting of Net Asset and Holdings Low Fees *Based on Morningstar’s universe of listed commodity funds. Data as of 10/31/2021. EDUCATION Sprott Podcast Episode #6 - Opportunities in Uranium SPUT Frequently Asked Questions SPUT Investor Presentation Deck How Nuclear Power Works Nuclear Energy: A critical pillar of a carbon-free future World Uranium Mining Production Key Facts Toronto Stock Exchange (TSX) Tickers U.U ($US) U.UN ($CA) Inception Date July 19, 2021 Fund Type Closed-End Trust CUSIP 85210A104 ISIN CA85210A1049 Manager Sprott Asset Management LP Technical Advisor WMC Energy Trustee RBC Investor Services Auditor KPMG Storage Providers & Locations Cameco (Canada); ConverDyn (U.S.); Orano (France); Urenco (U.S.) Fees & Expenses Management Fee 0.35% per annum, plus operating expenses Featured Insight 10/14/2021 EDUCATIONAL VIDEO Uranium: Born of the Stars This new video shares incredible facts about uranium’s inter-planetary origins and looks at the critical role of uranium in the burgeoning green energy economy. View Video Visit the Insights Section Subscribe to Insights BACK TO TOP Pricing Previous Close TSX U.U ($US) Net Asset Value per Unit $11.89 Previous Market Price Close $11.29 Premium/Discount -5.01% Units Outstanding 162,558,000 Total Pounds of U3O8 held within Trust* 39,796,955 Total KgU of UF6 held within Trust* 300,000 Market Value of Uranium Held by Trust $1,881,664,190 Total Net Asset Value of Trust $1,932,057,455 (In U.S. Dollars. Data last updated Monday, November 22, 2021 6:00 PM EST) *Based on trade date. Previous Close TSX U.UN ($CA) Net Asset Value per Unit $15.10 Previous Closing Market Price $14.30 Premium/Discount -5.27% (In Canadian Dollars. Data last updated Monday, November 22, 2021 6:00 PM EST) Today's Pricing TSX U.U ($US) The market is now closed Today's Pricing TSX U.UN ($CA) The market is now closed Follow up-to-date news on Sprott Uranium Physical Trust and the compelling uranium/nuclear energy markets. BACK TO TOP Performance Market Price vs. Net Asset Value Since Inception User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view. Sep '21 Nov '21 7 8 9 10 11 12 13 14 15 Inception date: July 19, 2021. View Uranium Infographic Historical Premium/Discount: Market Price to Net Asset Value User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view. Sep '21 Nov '21 -10 -5 0 5 10 15 20 25 30 35 Inception date: July 19, 2021. SPROTT INFO What is a premium/discount? The amount the Trust's closing price is trading above or below the reported NAV (net asset value), expressed as a percentage of the NAV. When the Trust's closing price is greater than the Trust's NAV, it is trading at a “premium” and the percentage is expressed as a positive number. When the Trust's closing price is less than the Trust's NAV, it is trading at a “discount” and the percentage is expressed as a negative number. Frequency Distribution: Premium/Discount Trading Days Each Quarter Data updated as of Nov 23, 2021 CY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Days Traded at Premium -- 0 0 46 -- Days Traded at Discount -- 0 0 5 -- The above table and line chart present information about the differences between the daily market price of a Trust unit and the Trust’s reported net asset value. The chart’s horizontal axis shows the premium or discount expressed in basis points. The market price is determined by the midpoint between the highest bid and the lowest offer on the Trust’s listing exchange, as of the time that the Trust’s NAV is calculated (usually 4:00 pm Eastern time). View Smashing Atoms BACK TO TOP Uranium Held Total Pounds of Uranium (U3O8) Held by Trust User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view. Pounds of U308 (millions) 18.218.2 18.318.3 20.420.4 24.924.9 28.628.6 30.630.6 34.434.4 36.436.4 39.839.8 07/18/2021 07/30/2021 08/13/2021 08/27/2021 09/10/2021 09/24/2021 10/ 8/2021 10/22/2021 11/ 5/2021 11/19/2021 0 10 20 30 40 50 Source: Sprott, RBC Investor Services Trust. Physical Uranium Calculator Enter a specific number of Trust Units to estimate how much physical uranium they represent. Units Pounds of U3O8 in $US * 24.49 KgU of UF6 * 0.18 Market Value of Units in $US * $1,129.43 Residual Amount $US $31.00 Based on price of TSX: U.U at 11/22/2021 6:00PM This calculator is designed to give you an idea of how much physical uranium is represented for a given amount of Units of the Sprott Physical Uranium Trust based on the latest available market price and net asset value. This calculator is for illustrative purposes only and should not be used to formulate transactions of any kind. Pound per Unit as of 11/22/2021 U.U 1 unit = 0.2449 Pounds of U3O8 in $US 1 unit = 0.0018 KgU of UF6 in $US Daily and Cumulative Pounds of Uranium (U3O8) Acquired by Trust User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view. Cumulative Pounds U3O8 Acquired Daily Pounds U3O8 Acquired Daily Pounds Acquired Cumulative 07/19/2021 08/27/2021 09/15/2021 10/ 7/2021 10/25/2021 11/19/2021 08/20/2021 09/ 7/2021 09/27/2021 10/15/2021 11/ 9/2021 0 6,000,000 12,000,000 18,000,000 24,000,000 0 400,000 800,000 1,200,000 1,600,000 Source: Sprott, RBC Investor Services Trust. BACK TO TOP Literature Fact Sheet Fact Sheet Regulatory Documents Management Information Circular Short Form Base Shelf Prospectus - September 9, 2021 Prospectus Supplement - September 13, 2021 Quarterly Portfolio Disclosure September 2021 Press Releases 11/23/2021 Sprott Physical Uranium Trust Announces Filing of Second Amended and Restated Base Shelf Prospectus and Updated “At-The-Market” Equity Program 9/10/2021 Sprott Physical Uranium Trust Announces Filing of Amended And Restated Base Shelf Prospectus 8/17/2021 Sprott Physical Uranium Trust Launches "At-The-Market" Equity Program 7/19/2021 Press Release - Sprott Physical Uranium Trust Completes Arrangement with Uranium Participation Corporation UNDERSTANDING NUCLEAR RADIATION Nuclear radiation exposure is minimal compared to the many sources of radiation we could come across in our daily lives. ~80% of an average person’s annual radiation exposure comes from natural sources, such as sunlight, soil and water, while ~18% comes from man-made sources such as computers, cell phones and x-rays. Less than only 1% comes from the nuclear industry, including uranium exploration and mining. Source: U3O8 Corporation. May not add up to 100% due to rounding. BACK TO TOP Tax & Resources PFIC Statements “PFIC” stands for “Passive Foreign Investment Company.” A foreign corporation such as the Sprott Physical Uranium Trust will be treated as a PFIC for any taxable year if either of the following is true: (a) more than 75% of its gross income is from passive sources or (b) at least 50% of its assets are held for the production of passive income. PFIC Annual Information Statements Sign-up to have your annual PFIC statements delivered to you electronically. Email Address * Tax Forms for U.S. Investors IRS Form 8621 Instructions for IRS Form 8621 MEASURING RADIATION EXPOSURE Radiation stemming from nuclear energy is far less when compared to activities not commonly associated with nuclear activities, such as flying on an airplane or interacting with more traditional energy sources. MILLIREMS OF RADIATION (MREM) 5,000 Annual U.S. regulatory radiation limit for an adult 500 One transcontinental round trip flight 360 Average person’s annual exposure from all sources 20 Living one year outside a coal plant 2 Living one year outside a nuclear power plant Source: U3O8 Corporation. BACK TO TOP How to Purchase Sprott Physical Uranium Trust Ticker Symbols U.U ($US) U.UN ($CA) CUSIP 85210A104 ISIN CA85210A1049 Sprott Physical Uranium Trust units trade in both U.S. and Canadian dollars. Trust units can be purchased or sold like any regular equity security through financial advisors, full-service brokers and discount brokers. Your units will be held in your name through the third-party financial professional. Units can be purchased or sold through Sprott financial professionals: in the U.S. via Sprott Global Resource Investments at 800.477.7853 and in Canada via Sprott Capital Partners at 855.943.8099. Both firms are affiliates of the Trusts. RESOURCES ON NUCLEAR ENERGY The Green Atom: Our Most Misunderstood Power Source 70 Years of Global Uranium Production by Country The future of uranium: A story of supply and demand The Power of a Uranium Pellet Five Fast Facts about Nuclear Energy (2020) Ultimate Fast Facts on Nuclear Energy Carbon Dioxide Emissions Avoided by Energy Source The Decline in Radioactivity in Nuclear Waste Over Time BACK TO TOP Contact Us Financial Advisors and Individual Investors Telephone: 888.622.1813 Email: uranium@sprott.com Sprott Sales Territory Map 2021 Institutional Investors Contact: Glen Williams, Managing Director, Investor and Institutional Client Relations; Head of Corporate Communications, Sprott Inc. Telephone: 416.943.4394 Email: gwilliams@sprott.com CONTACT US Please contact the Sprott Team at 888.622.1813 for more information, or answers to your questions. You can also email us at uranium@sprott.com. BACK TO TOP The Sprott Physical Uranium Trust is generally exposed to the multiple risks that have been identified and described in the Management Information Circular and the Prospectus. Please refer to the Management Information Circular or the Prospectus for a description of these risks. Forward Looking Statements 1The above update contains forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). Forward-looking statements in this update include, without limitation, statements regarding expected future compliance with Rule 15-c-211 and the resumption of regular trading of the SRUUF ticker once OTC Markets confirms that the Trust has satisfied its public information eligibility requirements. With respect to the forward-looking statements contained in this update, the Trust has made numerous assumptions regarding, among other things: its ability to satisfy the requirement of the OTC Markets in a timely manner, or at all. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this update. A discussion of these and other risks and uncertainties facing the Trust appears in the Trust's continuous disclosure filings, which are available at www.sedar.com. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law. Past performance is not an indication of future results. All data is in U.S. dollars unless otherwise noted. The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on their specific circumstances before taking any action. Sprott Asset Management LP is the investment manager to the Sprott Physical Uranium Trust (the “Trust”). Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the Management Information Circular and the Prospectus. Please read the Management Information Circular and the Prospectus carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trusts on the Toronto Stock Exchange (“TSX”) or the New York Stock Exchange (“NYSE”). If the units are purchased or sold on the TSX or the NYSE, investors may pay more than the current net asset value when buying units or shares of the Trusts and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Sprott Asset Management LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell. 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