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

Executive Summary

• Sprott Physical Uranium Trust announced an amendment to its at‑the‑market (ATM) equity program, authorizing the issuance of up to US$1.0 billion of trust units in Canada.
• Units will be sold on the Toronto Stock Exchange or other Canadian trading venues through designated agents (Cantor Fitzgerald Canada, Virtu Canada, BMO Nesbitt Burns, Canaccord Genuity) at prevailing market prices.
• Proceeds are intended to be used to acquire additional physical uranium in line with the Trust’s investment objectives.

Key Details

• The ATM program amendment is governed by an amended and restated Sales Agreement dated December 6 2024, involving Sprott Asset Management (trust manager) and the four listed agents.
• The offering is made pursuant to a Prospectus Supplement dated January 26 2026 supplementing the Trust’s Canadian short‑form base shelf prospectus (dated January 22 2026).
• Distribution volume and timing are at the Trust’s sole discretion; no minimum or scheduled issuance amounts were disclosed.
• Units will be issued in Canada only, with agents limited to selling on Canadian marketplaces.
• The Trust may list the newly issued units on the TSX, subject to meeting all applicable listing requirements.
• No offer is being made in jurisdictions where such an offer would be unlawful; the release contains standard forward‑looking and risk disclosures.

Notable Quotes

(No direct quotes were provided in the release.)