Sprott Physical Uranium Trust Announces Filing of New US$1.5 Billion Preliminary Base Shelf Prospectus and Results of Consideration of Structural Changes - Seite 2

About Sprott Asset Management and the Trust

Important information about the Trust, including its investment objectives and strategies, applicable management fees, and expenses, can be found on its website at www.sprott.com. Commissions, management fees, or other charges and expenses may be associated with investing in the Trust. The performance of the Trust is not guaranteed, its value changes frequently and past performance is not an indication of future results.

Forward-Looking Statements

This press release contains forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements in this press release include, without limitation, statements regarding the acceleration of interest in nuclear energy and uranium, the final clearance of the Trust’s new base shelf prospectus and the delivery and termination of the undertakings to Canadian securities regulatory authorities. With respect to the forward-looking statements contained in this press release, the Trust has made numerous assumptions regarding, among other things: the uranium and nuclear energy market and the Trust’s ability to obtain final clearance of its new base shelf prospectus. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. A discussion of risks and uncertainties facing the Trust appears in the Trust’s annual information form for the year ended December 31, 2022, which is available under the Trust’s profile at www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law or stock exchange rules.