Fund Description: The goal of the Sprott Physical Gold and Silver Trust is to provide a secure, convenient and exchange-traded investment alternative for investors who want to hold physical gold and silver without the inconvenience that is typical of a direct investment in physical bullion. The Trust offers a number of compelling advantages over traditional exchange-traded bullion funds. REASONS TO OWN1. Fully Allocated – The Trust only holds fully allocated and unencumbered precious metals – no exceptions.2. Redeemable for Metals – Unitholders have the ability to redeem their units for physical gold and silver bullion on a monthly basis, subject to certain minimum requirements.13. Trustworthy Storage – The Trusts metals will be held in custody by the Royal Canadian Mint, a Federal Crown Corporation of the Government of Canada.4. Potential Tax Advantage – The Trusts may offer a potential tax advantage for certain non-corporate U.S. investors. Gains realized on the sale of the Trust’s units can be taxed at a capital gains rate of 15%/20%2 versus the 28% collectibles rate applied to most precious metals ETFs, coins and bars.5. Easy to Buy, Sell and Own – Trust units can be purchased on any open trading day for the New York Stock Exchange or Toronto Stock Exchange. No need for investors to handle, secure or protect physical metal.6. A Liquid Investment – With average daily trading volume of C$8 million, trust units are highly liquid and can be sold on any open trading day at the New York Stock Exchange or Toronto Stock Exchange. Sprott Asset Management LP is the investment manager to the Sprott Physical Gold and Silver Trust. Important information about Sprott Physical Gold and Silver Trust can be found at www.sprott.com.