Sprott Physical Uranium Trust Updates Its “At-the-Market” Equity Program

Core Viewpoint - Sprott Asset Management has announced an update to its at-the-market equity program to issue up to U.S.$1.0 billion of units of the Sprott Physical Uranium Trust in Canada [1] Group 1: ATM Program Details - The distributions under the ATM Program will follow an amended sales agreement dated December 6, 2024, involving Sprott Asset Management and several agents including Cantor Fitzgerald Canada Corporation, Virtu Canada Corp., BMO Nesbitt Burns Inc., and Canaccord Genuity Corp [2] - Sales of units will occur through "at-the-market" issuances on the Toronto Stock Exchange or other trading markets in Canada at prevailing market prices, which may vary [3] - The volume and timing of distributions will be determined at the Trust's discretion, with proceeds intended for acquiring physical uranium [4] Group 2: Offering Documents - The offering is made pursuant to a prospectus supplement dated January 26, 2026, to the Trust's Canadian short form base shelf prospectus dated January 22, 2026 [5] - The Offering Documents are accessible on the SEDAR+ website maintained by the Canadian Securities Administrators [5] Group 3: Company Overview - Sprott Asset Management is a wholly-owned subsidiary of Sprott and serves as the investment manager for the Trust, specializing in precious metals and critical materials investments [8] - Sprott operates globally with offices in Toronto, New York, Connecticut, and California, and its common shares are listed on the New York Stock Exchange and the TSX under the symbol "SII" [8]