SII Sprott Inc

Sprott Asset Management LP (“Sprott Asset Management”), a wholly-owned subsidiary of Sprott Inc. (“Sprott”) (NYSE/TSX: SII), announced today on behalf of the Sprott Physical Copper Trust (the “Trust”) that the Trust has closed its initial public offering of 10,000,000 transferable units (the “Units”) at a price of US$10.00 per Unit (the “Offering”). The Offering will generate gross proceeds of US$100,000,000.

The Units will commence trading in both U.S. dollars and Canadian dollars today on the Toronto Stock Exchange under the symbols “COP.U” and “COP.UN”, respectively.

The Trust is a closed-end trust established to invest and hold substantially all of its assets in physical copper metal. The net proceeds of the Offering will generally be used to purchase copper. The Trust’s investment objectives are to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding copper without the inconvenience that is typical of a direct investment in copper. The Trust does not anticipate making regular cash distributions to holders of the Units.

“We are pleased to introduce the Sprott Physical Copper Trust, the world’s first physical copper investment fund,” said John Ciampaglia, CEO of Sprott Asset Management. “The Trust will address a need in the market by providing investors with an alternative to holding copper futures. Investor interest in copper is growing globally given its critical role as a key component in electrification, clean energy technologies, electric vehicles and artificial intelligence. With the launch of the Trust, Sprott now offers four different copper investment strategies.”

Canaccord Genuity Corp., BMO Capital Markets and Cantor Fitzgerald Canada Corporation acted as joint bookrunners for the Offering. RBC Capital Markets and TD Securities Inc. also acted as underwriters for the Offering.

WMC Energy B.V. is acting as technical advisor to Sprott Asset Management and will arrange all procurement and handling of Copper.

The Trust has granted to the underwriters an over-allotment option, exercisable for a period of 30 days from the date of closing of the Offering, to cover over-allotments, if any. If such option is exercised in full, gross proceeds of the Offering will be US$115,000,000.

About Sprott

Sprott Asset Management is a wholly-owned subsidiary of Sprott and is the investment manager to the Trust. Sprott is a global leader in precious metals and critical materials investments. At Sprott, we are specialists. Our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and Sprott’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “SII”. For more information, please visit www.sprott.com.

Contact:Glen Williams Managing PartnerInvestor and Institutional Client Relations Direct: 416-943-4394gwilliams@sprott.com

This Offering is only made by prospectus. The prospectus contains important detailed information relating to the securities being offered and has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the prospectus may be obtained from any one of the underwriters noted above. Investors should read the prospectus before making an investment decision.

The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Trust’s securities referred to herein in the United States.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.

This material may contain certain statements which constitute “forward-looking information”. Forward-looking information includes, among other things, projections, estimates, and information about possible or future results related to the Trust, market, or regulatory developments. The views expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties, and assumptions that could cause actual outcomes and results to differ materially from the views expressed herein. The views expressed herein are subject to change at any time based upon economic, market, or other conditions and the Trust undertakes no obligation to update the views expressed herein.