Sprott Physical Uranium Trust

Canaccord Genuity Acted as Sole Underwriter & Bookrunner to Sprott Physical Uranium Trust on its Upsized US$200 Million Bought Deal Shelf Prospectus Offering

Canaccord Genuity is pleased to announce that on June 20, 2025, its client, Sprott Inc. (“Sprott”), on behalf of Sprott Physical Uranium Trust (“SPUT” or the “Trust”) (TSX: U.UN) (TSX: U.U), successfully closed its upsized “bought deal” shelf prospectus offering consisting of 11,600,000 units of the Trust (the “Units”) at a price of US$17.25 per Unit (the “Offering Price”), for gross proceeds of US$200,100,000 (the “Offering”).

Canaccord Genuity acted as sole underwriter and bookrunner.

The net proceeds of the Offering will be used by the Trust to acquire physical uranium in the form of uranium oxide in concentrates and uranium hexafluoride and related fees and expenses in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions.

SPUT was established on April 23, 2021, with the principal investment objective of investing primarily in long-term holdings of physical uranium. The Trust seeks to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding physical uranium.