FUND Sprott Focus Trust Inc

Sprott Focus Trust, Inc. (Nasdaq-FUND) (the “Fund” or “FUND”) has declared a quarterly distribution of $0.1270 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock or in cash by specific stockholder election, is to be paid on December 28, 2023 to stockholders of record at the close of business on December 14, 2023 (ex-dividend on December 13, 2023). The price of shares issued for reinvestment will be determined on December 21, 2023.

The Fund currently has adopted a Distribution Policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 6% of the rolling average of the prior four calendar quarter-end net asset values (“NAVs”), with the fourth quarter distribution being the greater of 1.50% of the rolling average or the minimum distribution required by IRS regulations. The policy, including the annual rate, is subject to change at the discretion of the Fund’s Board of Directors.

The Fund’s estimated sources of the distribution to be paid on December 28, 2023 and for 2023 year-to-date are as follows:

Estimated Allocations as of November 30, 2023

	Distribution Per Share		Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
FUND	$	0.1270	$ 0.0369 (29.06%)	$ 0.0000 (0.00%)	$ 0.0901 (70.94%)	$ 0.0000 (0.00%)

Estimated Allocations for 2023 through November 30, 2023

	Distribution Per Share		Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
FUND	$	0.4979	$ 0.1665 (33.44%)	$ 0.0546 (10.96%)	$ 0.2672 (53.68%)	$ 0.0096 (1.92%)

You should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Fund’s Distribution Policy. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information

	Average Annual Total Return (in relation to NAV for the 5-year period ending on 11/30/2023)1		Annualized Current Distribution Rate (expressed as a percentage of NAV as of 11/30/2023)2		Cumulative total return (in relation to NAV for the fiscal year through 11/30/2023)3		Cumulative fiscal year Distribution Rate (as a percentage of NAV as of 11/30/2023)4
FUND	10.59	%	6.09	%	3.02	%	5.97	%

1  Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five year period ended November 30, 2023. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions paid.

2  The Annualized Current Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV as of November 30, 2023.

3  Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2022 to November 30, 2023, assuming reinvestment of distributions paid.

4  The Cumulative Fiscal Year Distribution Rate is the dollar value of distributions for the fiscal year period (January 1, 2023 to November 30, 2023), as a percentage of the Fund’s NAV as of November 30, 2023.

About Sprott Focus Trust, Inc.

Sprott Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq Global Select Market. The Fund’s investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities.

For further information on the Fund, please visit our web site at: www.sprottfocustrust.com. An investor should consider investment objectives, risks, charges and expenses carefully before investing. The Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. The Fund trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker.

Suite 230 | 320 Post Road | Darien, Connecticut | USA 06820 | (203) 636-0977 | www.sprott.com

Contact:        Glen Williams(416) 943-4394