Sprott Rare Earths Ex-China ETF REXC Strategy

The investment seeks to provide investment results that, before fees and expenses, track the total return performance of the Nasdaq Sprott Rare Earths Ex-China Index (the “Index”). The fund will, under normal circumstances, invest at least 80% of its total assets in securities of the index. The index is designed to track the performance of companies that derive at least 50% of their revenue and/or assets from mining, exploration, development, separation, refining, or production of rare earth minerals (“Rare Earths Companies”). It is non-diversified.