SPROTT ASSET MANAGEMENT LP SPROTT PHYSICAL PLATINUM AND PALLADIUM TRUST TRUST AGREEMENT Dated as of December 23, 2011Trust Agreement • January 13th, 2012 • Sprott Physical Platinum & Palladium Trust • Ontario
WHEREAS the Settlor wishes to establish a closed-end mutual fund trust to be known as the “Sprott Physical Platinum and Palladium Trust” (the “Trust”) as a mutual fund trust within the meaning of the Income Tax Act (Canada) and to cause the units of the Trust to be listed for trading on the Toronto Stock Exchange and the New York Stock Exchange Arca;
