Mr. John Ciampaglia reports

SPROTT PHYSICAL COPPER TRUST ANNOUNCES APPROVAL OF MUTUAL FUND RESTRUCTURING BY UNITHOLDERS

At a special meeting of unitholders of Sprott Physical Copper Trust, held earlier today, unitholders approved the restructuring of the trust from a non-redeemable investment fund to a mutual fund for the purposes of applicable Canadian securities laws. Detailed voting results are as follows.

As a result of the approval, the previously announced amendments to Sprott Physical Copper's trust agreement which result in the trust's original semi-annual redemption feature becoming a monthly redemption feature and the removal of a cap on the number of Sprott Physical Copper trust units that could be redeemed each redemption period, as well as certain consequential changes related to the foregoing and the listing of the units on the NYSE Arca, will become effective May 1, 2026. The summary of the amendments in this press release is qualified in its entirety by the provisions of amendment No. 1 to the trust agreement, a copy of which is available under the trust's profile on SEDAR+.

"We are thrilled to be bringing the Sprott Physical Copper Trust, the world's first physical copper investment fund, to the NYSE," said John Ciampaglia, chief executive officer of Sprott Asset Management. "The trust provides investors seeking exposure to physical copper with an alternative to holding copper futures. Copper is a critical component of electrification efforts, and, with the emergence of AI and data centres as well as the need to modernize aging electrical grids, we believe demand is poised to increase in the coming years.

"In conjunction with the NYSE listing, the trust will also be implementing an unlimited monthly physical redemption feature that will allow investors to take physical delivery of copper from a number of different geographic locations," continued Mr. Ciampaglia. "We expect this feature to broaden interest in the trust to a wider range of global investors."

In addition to the effectiveness of the amendments to Sprott Physical Copper's trust agreement, as previously announced, the units are expected to start trading on the NYSE Arca on or about May 4, 2026, under the symbol SCOP. The listing of the units on the NYSE Arca remains subject to the filing and effectiveness of a registration statement filed under the U.S. Securities Exchange Act of 1934 in respect of the listing of the units on the NYSE Arca.

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