0000919574-20-006919 Sample Contracts

SPROTT ASSET MANAGEMENT LP
Trust Agreement • November 13th, 2020 • Sprott Physical Gold Trust • Commodity contracts brokers & dealers • Ontario

WHEREAS Sprott Physical Gold Trust (the “Trust”) is a closed-end mutual fund trust established under the laws of the Province of Ontario pursuant to a trust agreement dated as of August 28, 2009 as amended and restated as of December 7, 2009 as further amended and restated as of February 1, 2010 (the “Original Trust Agreement”), the units of which will be listed for trading on the Toronto Stock Exchange and the New York Stock Exchange Arca;

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AMENDMENT NO. 1 TO AMENDED AND RESTATED TRUST AGREEMENT
Trust Agreement • November 13th, 2020 • Sprott Physical Gold Trust • Commodity contracts brokers & dealers • Ontario

THIS AMENDMENT NO. 1 TO THE AMENDED AND RESTATED TRUST AGREEMENT (this “Amendment No. 1”) of Sprott Physical Gold Trust (the “Trust”) is dated the 13th day of November, 2020.

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