Sprott Inc.

March 2, 20182017 Annual Results Conference Call

Certain statements in this presentation, and in particular the “Outlook” slide, contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the forgoing, this presentation contains Forward-Looking Statements pertaining to: (i) deployment of Private Resource Lending LP; (ii) continued expansion of sector coverage by Sprott Capital Partners; (iii) transition to more EBITDA accretive businesses; (iv) continued growth of AUM; (v) share buy-backs and dividend increases will continue to be measured against EBITDA accretive deployment alternatives; (vi) estimated 2018 balance sheet deployment; (vii) focus on driving profitable growth in all business segments; (viii) near-term outlook for gold and silver prices; (ix) expansion of the institutional business, including continuing to build AUM through Private Resource Lending LP capital deployment and launching new PE-style funds in mining and agriculture; (x) continuing to build client coverage team; (xi) acquisition opportunities; and (xii) merchant bank to provide meaningful transaction opportunities and margin contribution.

Although the Company believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: (i) the impact of increasing competition in each business in which the Company operates will not be material; (ii) quality management will be available; (iii) the effects of regulation and tax laws of governmental agencies will be consistent with the current environment; and (iv) those assumptions disclosed under the heading "Significant Accounting Judgments and Estimates" in the Company’s MD&A for the period ended December 31, 2017. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) difficult market conditions; (ii) poor investment performance; (iii) failure to continue to retain and attract quality staff; (iv) employee errors or misconduct could result in regulatory sanctions or reputational harm; (v) performance fee fluctuations; (vi) changes in the investment management industry; (vii) failure to implement effective information security policies, procedures and capabilities; (viii) lack of investment opportunities; (ix) risks related to regulatory compliance; (x) failure to manage risks appropriately; (xi) failure to deal appropriately with conflicts of interest; (xii) competitive pressures; (xiii) corporate growth may be difficult to sustain and may place significant demands on existing administrative, operational and financial resources; (xiv) failure to successfully implement succession planning; (xv) foreign exchange risk relating to the relative value of the U.S. dollar; (xvi) litigation risk; (xvii) failure to develop effective business resiliency plans; (xviii) failure to obtain or maintain sufficient insurance coverage on favourable economic terms; (xix) historical financial information is not necessarily indicative of future performance; (xx) the market price of common shares of the Company may fluctuate widely and rapidly; (xxi) risks relating to the Company’s investment products; (xxii) risks relating to the Company's proprietary investments; (xxiii) risks relating to the Company's lending business; (xxiv) risks relating to the Company’s merchant bank and advisory business; (xxv) those risks described under the heading "Risk Factors" in the Company’s annual information form dated March 2, 2018; and (xxvi) those risks described under the headings "Managing Risk: Financial" and "Managing Risk: Non-Financial" in the Company’s MD&A for the period ended December 31, 2017. In addition, the payment of dividends is not guaranteed and the amount and timing of any dividends payable by the Company will be at the discretion of the Board of Directors of the Company and will be established on the basis of the Company’s earnings, the satisfaction of solvency tests imposed by applicable corporate law for the declaration and payment of dividends, and other relevant factors. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and the Company does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.

Forward-looking Statements

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• Peter Grosskopf, CEO, Sprott Inc.

• Kevin Hibbert, CFO, Sprott Inc.

• John Ciampaglia, CEO, Sprott Asset Management

Speakers

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Completed repositioning of business to focus on core strengths in precious metal and real asset investments

• Completed strategic acquisition of Central Fund of Canada

o Added $4.3B in assets to our Exchange Listed Products business

• Raised US$640MM in inaugural Private Resource LPs

• Closed sale of Canadian diversified business for $46MM

• Launched Sprott Capital Partners

2017 and 2018 YTD Highlights

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Delivering steadily improving financial performance

• AUM of $7.3B as of December 31, 2017, compared to $9.2B as of December 31, 2016

o In January, after giving effect to CFCL acquisition, AUM increased to $11.5B

• Adjusted base EBITDA increased 67% to $40.2MM or $0.16 per share

• Investable capital was $293MM as of December 31,2017

• $52MM in net sales / capital deployed for the year

2017 Financial Highlights

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Focused on profitable growth in all business segments

• Completed CFCL acquisition

o Physical Trusts are now 3rd largest bullion management complex in North America

• Private Resource Lending LP actively deploying capital raised

o US$196MM of LP deployed as of December 31, 2017

o Including existing loan commitments, fund will be substantially deployed by year-end

• Sprott Capital Partners delivered successful first year in operation

o Participated in $900MM in equity financings

o Generated $5.7MM in EBITDA

o Continuing to expand sector coverage

Business Unit Highlights

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Sprott Inc. | 6

We have transitioned away from low EBITDA margin revenues (i.e. diversifiedretail mutual funds) to more EBITDA accretive businesses.

Earnings Transition

*Net of Corporate costs

**

*

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We continue to grow our AUM both organically and through strategic acquisitions

Evolution & Growth - AUM

After giving effect to:

1) $4.3 billion AUM from CFCL on January 16, 2018

2) $580 million in AUM from un-deployed lending fund commitments

8Sprott Inc. |

Putting our balance sheet to workThe deployment of investable capital has always been with the objective ofmaximizing shareholder value. Share buy-backs and dividend increases willcontinue to be measured against EBITDA accretive deployment alternatives

(1)2018Ebasedon2017less$110MMforCFCLpurchase(including$5MMminimumearn-out)

Sprott participating in digitization of gold through investment in Tradewind

Tradewind Markets

• Vault

o Royal Canadian Mint

• Market Technology

o Powered by IEX technology

• Producer Support

o Support for gold industry innovation

• Advisory & Marketing Support

o Industry expertise and relationships

Sprott Investor Presentation | 9February 2018

Focused on driving profitable growth in all business segments

• Near-term outlook for gold and silver prices is positive

o ~90% of AUM concentrated in precious metal investments

• CFCL acquisition adds scale to our Exchange Listed Products business

• Committed to expanding institutional business

o Continue to build AUM through Private Resource Lending LP capital deployment

o Preparing to launch new PE-style funds in mining and agriculture

• Continue to build client coverage team, adding two more professionals this quarter

• Selectively reviewing acquisition opportunities, most involve wider global client coverage

• Merchant bank to provide meaningful transaction opportunities and margin contribution

Outlook

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Supplemental Financial Information

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AUM Roll Forward

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$ (in millions) Dec. 31, 2016 Dec. 31, 2017

Product TypeAUM,

Beginning of Period

Net Sales/Capital calls

Market Value Change

Transfers/ Acquisitions/ (Divestitures)

AUM, End of Period

Exchange Listed Products 4,412 50 172 – 4,634

Alternative Asset Management

Mutual Funds 2,465 (235) (109) (1,231) 890

Alternative Investment Funds 1,085 54 18 (980) 177

Managed Accounts 104 (42) (1) (13) 48

Private Resource Investments

Private Resource Lending LPs 49 193 10 – 252

Fixed Term LPs 343 – (35) – 308

Managed Companies 653 32 22 – 707

Managed Accounts 137 – 26 144 307

Total 9,248 52 103 (2,080) 7,323

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Revenues1

$ millions 2017 2016

Total Net Revenues 121.8 133.2

Key revenue highlights:

Net fees 58.2 75.1

Interest income 15.6 14.2

Net Commissions 18.2 10.5

(1)Asper“SummaryFinancialInformation”onpage9ofthe2017MD&A

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Expenses1

$ millions 2017 2016

Total Expenses 78.5 95.3

Key expense highlights:

Compensation (excluding commissions, performance fee payouts and severance) 40.5 47.6

Selling, general & administrative 23.7 29.5

(1) As per “Summary Financial Information” on page 9 of the 2017 MD&A

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EBITDA Reconciliation$ millions (except for per share amounts) 2017 2016Net Income 37.5 31.5Per share 0.16 0.13Adjustments:

Interest expense 0.2 -Provision for income taxes 5.8 6.3Depreciation and amortization 6.4 7.4

EBITDA 49.9 45.3Other Adjustments:

Impairment of intangible assets – 3.0(Gains) & losses on proprietary investments 5.2 (27.9)(Gains) & losses on foreign exchange 7.4 3.5General loan loss provisions (recoveries) – (1.2)Non-cash and non-recurring stock based compensation 1.7 3.6Net proceeds from Sale Transaction (31.7) –Unamortized Placement Fees 5.1 3.6Other 4.8 1.8

Adjusted EBITDA 42.4 31.7Less:

Performance Fees (4.7) (21.4)Performance fee related expenses 2.5 13.8

Adjusted base EBITDA 40.2 24.1Per share 0.17 0.1

2017 2018 2019 2020 2021Est.amortizationexpense 6,692 11,000 5,500 3,000 1,300%ofamortizationbyyear 25% 40% 20% 11% 4%

65% 35%

Long-term incentive program (“LTIP”)

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During the year, we re-launched the LTIP for senior executives and keyemployees, ensuring alignment with our new strategy and the objectives ofour shareholders

*Netofforfeituresre:theoldLTIP

LTIP " Old" " New"

Program Seed 13 million options (1) 7.5 million shares (2)

Vesting 3 to 4 years 5 years

" Static" performance conditions(targets set at inception)

" Dynamic" Performance conditions (targets set annually)

Cumulative(Could be earned at any point

in the 3 to 4 years)

Non-cumulative (Requires in-year

" earn it or lose it" )

AIP Impact No Impact Reduced

Forfeiture Risk Low(Limited forfeiture triggers)

High(Multiple forfeiture triggers)

Performance Condition

(1) The CEO of the Company retained 3.25 million options from the old LTIP with the performance conditions amended to align with the performance conditions of the new LTIP.

(2) 7.5 million shares were purchased by the EPSP Trust as part of the secondary offering by Eric Sprott on June 29, 2017.

*

CashPurchasePrice 105,000SharePurchasePrice 15,000BasePurchasePrice 120,000

PurchaseAdjustmentsMinimumEarn-out 5,000MarketValueappreciationofSIIsharesatclose 2,500TaxShield (25,000)NetPurchasePrice 102,500

CFCL Acquisition

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(1) 7 million shares at 20-day vWAP on September 29, 2017: $2.14

(2) Based on the average 5-day close SII shares on January 15, 2018: $2.50

(3) Earn-out is payable on December 31, 2018. The amount of the payout is subject to certain performance conditions

Purchase price (net of the tax shield) is 15% lower than the base purchase price

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