Industry Revenues: The Sprott Physical Uranium Trust Fund does not generate traditional industry revenues as it is an investment fund holding physical uranium. The value of the fund is based on the market value of the held uranium.

TOP 3 Markets:

1. USA: approximately 30%
2. Europe: approximately 25%
3. Asia (especially China and Japan): approximately 20%

The Sprott Physical Uranium Trust Fund is designed to provide investors with a direct way to invest in physical uranium. The demand for uranium is mainly driven by the energy industry, particularly by nuclear power plants. The USA, Europe, and Asia are the largest markets for nuclear energy, which explains the percentage shares of uranium demand.

The exact market shares may vary depending on geopolitical developments and energy policies of the respective regions.

Production: No in-house production

The Sprott Physical Uranium Trust Fund (TSX:U.UN) is an investment fund and not a producing company. It invests in physical uranium and holds it as an asset to allow investors a direct participation in uranium. The fund itself does not produce uranium, but buys it from various producers and holds it in storage facilities.

Strategy for Future Growth:

1. Increase in Uranium Holdings: The Sprott Physical Uranium Trust Fund plans to continuously increase its uranium holdings to benefit from rising uranium prices. This is done through strategic purchases of physical uranium.

2. Market Expansion: The Trust aims to expand its market presence by attracting new investors and increasing the fund's liquidity. This could be achieved through listing on additional exchanges or through marketing initiatives.

3. Focus on Sustainability: Given the global energy transition and increasing demand for low-carbon energy sources, the Trust positions itself as a key player in the field of sustainable energy investments.

The Sprott Physical Uranium Trust Fund is relying on these strategies to capitalize on the growing demand for uranium as a nuclear fuel, especially in the context of global efforts to reduce CO2 emissions.

Commodity: Uran

Countries of Origin: Kazakhstan, Canada, Australia, Namibia

The Sprott Physical Uranium Trust Fund invests in physical uranium primarily imported from countries with large uranium reserves. Kazakhstan is the world's largest producer of uranium and supplies a significant portion of the global supply. Canada and Australia are also significant exporters, known for their high-quality uranium reserves. Namibia also contributes to global uranium exports and is an important supplier for the Trust Fund.

These countries are leading in uranium production due to their extensive natural resources and well-developed mining infrastructures. The Trust Fund sources uranium from these regions to meet the demand of investors speculating on rising uranium prices or seeking to hedge against market fluctuations.

Market share in the uranium market: Approx. 20% (2025, estimated)
Assets under management: Over 3 billion USD (2025, estimated)

The Sprott Physical Uranium Trust Fund has a significant competitive advantage due to its specialized focus on physical uranium. This provides investors with direct access to uranium, which is considered a strategic advantage in the industry as it offers protection against price fluctuations.

Another advantage is the strong market position and trust that Sprott enjoys as an established player in the commodity investment sector. This attracts institutional investors seeking diversification and protection against inflation.

The competitive advantage is further enhanced by the increasing demand for uranium in the context of the global energy transition, as more and more countries turn to nuclear energy to reduce their CO2 emissions.

Institutional Investor Share: Estimated at around 60% (2025) Insider Buys/Sells: No significant insider transactions reported (2025)

The Sprott Physical Uranium Trust Fund attracts strong interest from institutional investors due to its specific focus on physical uranium. These investors appreciate the diversification and protection against market volatility that the fund offers.

Insider transactions are typically less frequent in trusts like this, as they are mainly held by institutional investors rather than individuals. No significant insider buys or sells have been reported in the recent reporting periods, indicating a stable position among current shareholders.

Market share of Sprott Physical Uranium Trust Fund: Estimate 25% (2025)

Top competitors and their market shares:

1. Yellow Cake plc: Estimate 20%
2. Cameco Corporation: Estimate 15%
3. Kazatomprom: Estimate 10%
4. Uranium Participation Corporation: Estimate 8%
5. Global X Uranium ETF: Estimate 7%

Moat Analysis:

The Sprott Physical Uranium Trust Fund has a significant advantage due to its specialization in physical uranium, making it attractive to investors who want to invest directly in the metal rather than in companies that mine or process it. This provides a clear advantage in times of market uncertainty or price fluctuations in the uranium market.

In comparison, companies like Cameco Corporation and Kazatomprom have a stronger operational moat through their vertical integration and control over the production chain, giving them some pricing power and production stability.

Yellow Cake plc shares a similar strategy to Sprott, but with a smaller market share, which could indicate lower capitalization or less aggressive expansion strategies.

Overall, the Sprott Physical Uranium Trust Fund offers a significant advantage for investors looking to invest in physical holdings, while companies with operational capabilities and production control typically have a more stable operational moat.

Uranium Price Forecast: 55-60 USD per pound (2025) Demand Growth: 3-4% annually (2025 Forecast) Increase in Nuclear Energy Projects: 10% (2025 Forecast)

The Sprott Physical Uranium Trust Fund (TSX:U.UN) invests directly in physical uranium, meaning its performance is strongly correlated with uranium prices. Forecasts for uranium prices suggest a moderate increase, supported by growing demand for nuclear energy, especially in Asia and Europe, where the transition to low-carbon energy sources is being promoted.

Additionally, the number of nuclear energy projects worldwide is expected to increase by about 10%, which could further boost demand for uranium. These factors could positively impact the value of the Trust in the coming years.

However, investors should also consider the volatility of commodity markets and geopolitical risks that could affect uranium prices. In the long term, the Trust could be an attractive investment if the demand for clean energy continues to rise and uranium prices remain stable or increase.

Dividend: None

The Sprott Physical Uranium Trust Fund (TSX:U.UN) does not pay a dividend. The fund is designed to provide investors with the opportunity to invest in physical uranium without actually owning the material itself.

Since the fund invests in physical uranium rather than companies that mine or process uranium, it does not generate ongoing income that could be distributed as dividends. Instead, investors benefit from the appreciation of uranium itself.