Sprott Focus Trust, Inc. Stock

Sprott Focus Trust, Inc. (the Fund) is a diversified closed-end investment company. The Fund’s primary investment goal is long-term capital growth. The Fund normally invests at least 65% of its assets in equity securities. The Adviser uses a value approach to invest the Fund’s assets in a limited number of domestic and foreign companies. While it is not restricted as to stock market capitalization, the Adviser focuses the Fund’s investments primarily in small-cap companies and micro-cap companies with significant business activities in the United States. It may invest up to 35% of its assets in direct obligations of the United States Government or its agencies and in the non-convertible preferred stocks and debt securities of domestic and foreign companies. It invests in various sectors, including materials, energy, and financial services. Sprott Asset Management LP is the sponsor of the Fund. Sprott Asset Management USA, Inc. (the Adviser) acts as the investment adviser to the Fund.