May 24, 2016 5:14 AM ET

Capital Markets

Company Overview of Sprott Physical Gold Trust

Company Overview

Sprott Physical Gold Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. The fund invests in the commodity markets. It primarily invests in physical gold bullion in London Good Delivery bar form. Sprott Physical Gold Trust was formed on August 28, 2009 and is domiciled in Canada.

Royal Bank Plaza

South Tower

200 Bay Street

Suite 2700

Toronto, ON M5J 2J1

Canada

Founded in 2009

Phone:

416-943-6707

Fax:

416-943-6497

Key Executives for Sprott Physical Gold Trust

Chief Executive Officer of Sprott Asset Management LP and Co-Chief Investment Officer of Sprott Asset Management LP
President of Sprott Asset Management LP
Chief Financial Officer of Sprott Asset Management LP and Principal Accounting Officer of Sprott Asset Management LP
Co- Chief Investment Officer of Sprott Asset Management LP
Chief Compliance Officer of Sprott Asset Management LP
Compensation as of Fiscal Year 2015.

Sprott Physical Gold Trust Key Developments

Sprott Physical Gold Trust Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2016

Sprott Physical Gold Trust reported unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported that net income and comprehensive income of $292,642,137, compared to net loss and comprehensive loss of $2,629,192 a year ago. Net cash used in operating activities was $1,568,116 against $1,429,859 a year ago. For the period from January 1, 2016 to March 31, 2016, the total change in unrealized gains on physical gold bullion amounted to $308.3 million compared to the change in unrealized gains of $6.8 million during the same period in 2015. The trust's net asset value per unit on March 31, 2016 was $10.17 compared to $8.77 per unit as at December 31, 2015.

Sprott Asset Management, LP, Sprott Physical Gold Trust, Sprott Physical Silver Trust, Sprott Physical Platinum and Palladium Trust - Special Call

To provide precious metals market update

Sprott Physical Gold Trust Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Sprott Physical Gold Trust reported earnings results for the third quarter and nine months ended September 30, 2015. The company reported that net loss and comprehensive loss for the third quarter ended September 30, 2015 was $72.36 million, or $0.49 loss per share, compared to a net loss and comprehensive loss of $165.38 million, or $1 loss per share, for the same quarter ended September 30, 2014. Loss for the third quarter ended September 30, 2015 was $70.71 million, compared to a loss of $163.23 million for the same quarter ended September 30, 2014. Net loss and comprehensive loss for the nine months ended September 30, 2015 was $90.61 million, or $0.60 loss per share, compared to a net income and comprehensive income of $1.87 million, or $0.01 per share, for the same period ended September 30, 2014. Loss for the nine months ended September 30, 2015 was $85.35 million, compared to a loss of $8.72 million for the same period ended September 30, 2014.

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