Table of Contents Letter to shareholders 2 Management's Discussion and Analysis 4 Consolidated Financial Statements 23 Notes to the Consolidated Financial Statements 28 Dear fellow shareholders, Q3 2025 Review Sprott's Assets Under Management ("AUM") were $49.1 billion as at September 30, 2025, up 23$40 billion as at June 30, 2025 and up 56% from $31.5 billion as at December 31, 2024. Subsequent to quarter-end, as at October 31, 2025, AUM increased an additional 4$51 billion. Net income for the ...