Sprott Inc. · TSX:SII
Sprott — Investor Presentation (January 2026)
15 slides from Sprott's investor presentation, January 2026
Slide 1: Sprott Real Asset Value+ Strategy
Sprott Real Asset Value+ Strategy January 2026
Slide 2: Disclaimer
Disclaimer Past performance is not an indication of future results. This presentation is intended solely for the use of Sprott Asset Management USA Inc. for use with investors and interested parties. Investments, commentary and statements are unique and may not be reflective of investments and comme
Slide 3: Investing is most intelligent when it is most businesslike
“Investing is most intelligent when it is most businesslike.” -Benjamin Graham, Columbia University professor, investor and researcher Sprott USA | 3
Slide 4: Performance
Performance Since Inception* As of 12/31/2025 Q4 2025 2025 3 year* 5 year* 10 year* (3/30/2015) Sprott Real Asset Value+ Strategy – Net 1.86% 19.60% 10.50% 12.04% 9.91% 6.52% of Fees1 Sprott Real Asset Value+ Strategy – 2.29% 21.32% 12.14% 13.70% 11.55% 8.12% Gross of Fees1 S&P Real Assets Equity In
Slide 5: Value+ Highlights
Value+ Highlights The Sprott Real Asset Value+ Strategy is a value and quality-oriented Strategy consistent with Sprott’s contrarian philosophy. • Objective: Above-average total returns over a five year+ investment horizon. • Actively managed to provide investors diversification and value-add to the
Slide 6: Top-Down Positioning, Bottom-Up Selection
Top-Down Positioning, Bottom-Up Selection Dual approach that simultaneously emphasizes risk management and opportunity exploitation. • Top-down strategic weightings: • Agribusiness • Energy • Metals/Mining • Real Asset Industries like global real estate, infrastructure and shipping. • Bottom-up sele
Slide 7: Portfolio Construction
Portfolio Construction Focused, All-Cap, Real Asset Portfolio* • Focused portfolio: Currently 24 positions • Bias towards mid-capitalization companies ($5-15 billion) • Strategic weighting ranges: • Agribusiness: 20-40% • Energy: 20-35% • Metals/Mining: 15-35% • Other Real Asset Investments: 0-25% •
Slide 8: Target Exposures
Target Exposures Agribusiness Energy Metals/Mining Target Range: 20-40% Target Range: 20-35% Target Range: 15-35% • Specialty Foods/Ingredients • Mineral & Royalty Interests • Royalty & Streaming • Crop Nutrients • Conventional Oil & Gas • Diversified Mining Click to edit • Precision Master title st
Slide 9: Current Exposures
Current Exposures Sector Weightings* Top Ten Holdings* Texas Pacific Land Corp. Cash 2.6% Altius Minerals Corp. Agribusiness 19.0% Other 19.0% Franco-Nevada Corp. Quanta Services Inc. Cameco Corporation Corteva Inc. Energy Cheniere Energy Inc. 23.5% Click to edit Master title style Nutrien Ltd. Trip
Slide 10: Selection Process
Selection Process Approach • We believe real asset businesses rarely maintain any pricing power and must rely on their business structure or unique assets to generate above-average returns on capital. • Identifying the value drivers of a company helps us identify their potential for persistent exces
Slide 11: Investment Assessment
Investment Assessment • Simple, easy-to-understand, transparent. • Growth & margins sufficient for consistent reinvestment. • Strong balance sheets, appropriately-financed. Successful • Distinct differentiators from peers. Business Model • Long-term focus. • Capable operators. • Proficient allocator
Slide 12: Selection Focus and Risk Management
Selection Focus and Risk Management Selection Focus • Operating Cash Flows • Strong operating margins • Returns on capital employed (RoCE) Risk Management Investment Level Portfolio Level Manager Level •Hurdle rates appropriate for •Strategic weightings in •Investments are only made when we investme
Slide 13: Portfolio Manager
Portfolio Manager Jason J. Stevens, CFA, Portfolio Manager Jason J. Stevens, CFA, acts as Portfolio Manager of the Sprott Real Asset Value+ Strategy and is a member of the Sprott Asset Management USA Investment Committee. Mr. Stevens has been with the firm since 2002. Originally recruited onto Sprot
Slide 14: A Global Leader in Precious Metals and Critical Materials Investments
A Global Leader in Precious Metals and Critical Materials Investments US$49.1B in AUM1 Sprott (SII) is publicly listed on the NYSE and TSX Exchange Listed Products Managed Equities Private Strategies $41.8 Billion AUM $5.2 Billion AUM $2.1 Billion AUM • Physical Bullion Trusts • Flagship U.S. Gold E
Slide 15: Contact Details
Contact Details Sprott Asset Management USA Inc. 1910 Palomar Point Way, Suite 200 Carlsbad, CA 92008 www.sprott.com Jason J. Stevens, CFA Portfolio Manager Sprott Asset Management USA Inc. T: 800.477.7853 Email: [email protected] Follow us @Sprott Follow us https://www.linkedin.com/company/sprott