0001690842 2025-07-01 2026-06-30 0001690842 2026-06-30 0001690842 2026-08-13 0001690842 2025-06-30 0001690842 us-gaap:RelatedPartyMember 2026-06-30 0001690842 us-gaap:RelatedPartyMember 2025-06-30 0001690842 2024-07-01 2025-06-30 0001690842 PLTM:PlatinumMember 2026-06-30 0001690842 PLTM:PlatinumMember 2025-06-30 0001690842 2023-07-01 2024-06-30 0001690842 2024-06-30 0001690842 2023-06-30 0001690842 PLTM:SponsorMember 2025-07-01 2026-06-30 0001690842 PLTM:SponsorMember 2024-07-01 2025-06-30 0001690842 PLTM:SponsorMember 2023-07-01 2024-06-30 0001690842 us-gaap:FairValueInputsLevel1Member PLTM:PlatinumMember 2026-06-30 0001690842 us-gaap:FairValueInputsLevel2Member PLTM:PlatinumMember 2026-06-30 0001690842 us-gaap:FairValueInputsLevel3Member PLTM:PlatinumMember 2026-06-30 0001690842 us-gaap:FairValueInputsLevel1Member 2026-06-30 0001690842 us-gaap:FairValueInputsLevel2Member 2026-06-30 0001690842 us-gaap:FairValueInputsLevel3Member 2026-06-30 0001690842 us-gaap:FairValueInputsLevel1Member PLTM:PlatinumMember 2025-06-30 0001690842 us-gaap:FairValueInputsLevel2Member PLTM:PlatinumMember 2025-06-30 0001690842 us-gaap:FairValueInputsLevel3Member PLTM:PlatinumMember 2025-06-30 0001690842 us-gaap:FairValueInputsLevel1Member 2025-06-30 0001690842 us-gaap:FairValueInputsLevel2Member 2025-06-30 0001690842 us-gaap:FairValueInputsLevel3Member 2025-06-30 0001690842 srt:MaximumMember 2025-07-01 2026-06-30 0001690842 us-gaap:RelatedPartyMember 2025-07-01 2026-06-30 iso4217:USD shares iso4217:USD shares pure utr:oz false FY true 0001690842

Unlimited

10-K true 2026-06-30 --06-30 2026 false 001-38349 GRANITESHARES PLATINUM TRUST NY 82-6644954 c/o GRANITESHARES LLC 250 Broadway – 24th floor New York NY 10007 (646) 876 5096 GraniteShares Platinum Shares NYSEArca No No Yes Yes Non-accelerated Filer true false false false 162846000 10900000 None Cybersecurity Program Overview We maintain, routinely review and evaluate our information technology and cybersecurity policies, practices and procedures (our “Cybersecurity Program”). <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_909_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20250701__20260630_zWetLEXjFdj9">The Cybersecurity Program has various policies and procedures, including an Information and Cybersecurity Policy and Business Continuity/Disaster Recovery Plan. Management’s Role in Cybersecurity Risk Management As part of our overall risk management process, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskRoleOfManagementTextBlock_c20250701__20260630_zIa7z8BSaNll">our management <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_909_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250701__20260630_zd3x1HOCcom9">engages in a risk management review and evaluation, during which management reviews the principal risks relating to our business and operations. Included in this process is a review and evaluation of our risks relating to our Cybersecurity Program. Oversight of Cybersecurity Risks The management as a whole has responsibility for the Trust’s risk oversight. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskProcessForInformingBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250701__20260630_zs6fq0I2Snxh">The oversight responsibility of the management is enabled by reporting processes that are designed to provide visibility to the management about the identification, assessment and management of critical risks and management’s risk mitigation strategies. The Cybersecurity Program has various policies and procedures, including an Information and Cybersecurity Policy and Business Continuity/Disaster Recovery Plan. our management <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_909_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250701__20260630_zd3x1HOCcom9">engages in a risk management review and evaluation, during which management reviews the principal risks relating to our business and operations. Included in this process is a review and evaluation of our risks relating to our Cybersecurity Program. true The oversight responsibility of the management is enabled by reporting processes that are designed to provide visibility to the management about the identification, assessment and management of critical risks and management’s risk mitigation strategies. true 445 We have audited the accompanying statements of assets and liabilities of GraniteShares Platinum Trust (the “Trust”), including the schedules of investments, as of June 30, 2026 and 2025, the related statements of operations, the statements of changes in net assets, and the financial highlights for each of the years in the three-year period ended June 30, 2026, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Trust as of June 30, 2026 and 2025, and the results of its operations, the changes in its net assets, and the financial highlights for each of the years in the three-year period ended June 30, 2026, in conformity with U.S. generally accepted accounting principles. TAIT, WELLER & BAKER LLP Philadelphia, Pennsylvania

163840000

85235000

3252000

163840000

88487000

3252000

77000

29000

77000

3281000

163763000

85206000

10900000

6550000

15.02

13.01

164519000

65762000

104556.802

164519000

163840000

1.0005

164519000

163840000

1.0005

-77000

-0.0005

163763000

1.0000

63137.357

65762000

85235000

1.0003

65762000

85235000

1.0003

-29000

-0.0003

85206000

1.0000

930000

243000

188000

930000

243000

188000

-930000

-243000

-188000

212000

-6000

-20000

13872000 628000 -211000

14084000

622000

-231000

-20152000 19706000 5187000 -6068000 20328000 4956000

-6998000

20085000

4768000

-0.67

3.97

1.15

10375000

5057000

4139000

85206000

43119000

34919000

8150000

3150000

850000

156215000

32318000

7695000

3800000

1000000

450000

-70660000

-10316000

-4263000

-930000

-243000

-188000

212000

-6000

-20000

13872000 628000 -211000 -20152000 19706000 5187000

163763000

85206000

43119000

13.01

9.80

8.73

-0.09

-0.05

2.10

3.26

1.12

2.01

3.21

1.07

15.02

13.01

9.80

14.94

13.00

9.67

0.1545

0.3276

0.1226

0.1492

0.3444

0.0939

163763000

85206000

43119000

-0.0050

0.0050

<p id="xdx_802_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zaNbx8CtXLQ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">1. Organization GraniteShares Platinum Trust (the “Trust”) is an investment trust formed on January 11, 2018, under New York law pursuant to a trust indenture. The Sponsor of the Trust, GraniteShares LLC (the “Sponsor”), is responsible for, among other things, overseeing the performance of The Bank of New York Mellon (the “Trustee”) and the Trust’s principal service providers, including the preparation of financial statements. The Trustee is responsible for the day-to-day administration of the Trust. The objective of the Trust is for the value of the Shares to reflect, at any given time, the value of the assets owned by the Trust at that time less the Trust’s accrued expenses and liabilities as of that time. The Shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in platinum. The fiscal year end for the Trust is June 30. Undefined capitalized terms shall have the meaning as set forth in the Trust’s registration statement.

2. Basis of Accounting and Significant Accounting Policies The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that for reporting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 as amended and is not required to register under such act. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust. 2.1 Custody and Fair Valuation of Platinum The Trust follows the provisions of ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Platinum is held by ICBC Standard Bank Plc (the “Custodian”), on behalf of the Trust, at the Custodian’s London, United Kingdom vaulting premises. 99.89% and 99.81% of platinum is in the form of good delivery platinum bars as of June 30, 2026 and 2025, respectively. A current list of all platinum held by the Custodian is available on the sponsor’s website. The cost of platinum is determined according to the average cost method and the fair value is based on the London Bullion Market Association (“LBMA”) Platinum Price PM. LBMA Platinum Price PM is the price per troy ounce of platinum, stated in U.S. dollars, determined by the LME, following an auction process starting after 2:00 p.m. (London time), on each day that the London platinum market is open for business, and announced by the LME shortly thereafter. The per Share amount of platinum exchanged for a purchase or redemption is calculated daily by the Trustee, using the LBMA Platinum Price PM to calculate the platinum amount in respect of any liabilities for which covering platinum sales have not yet been made, and represents the per Share amount of platinum held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. ASC 820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Level 2: Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar data. Level 3: Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available. <p id="xdx_892_eus-gaap--FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock_zotNQARlApZg" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">The following table summarizes the Trust’s investments at fair value: Schedule of Trust Investments Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td colspan="13" style="font-weight: bold">(Amounts in 000’s of US$)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Investment in Platinum</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zIdwLBvLtXC2" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum">163,840</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z3odW8Gidqic" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zNtZL3El4Yw3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zvL9jhyiwUtj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">163,840</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zIEBmOrF0P07" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdSbkQur7Aq6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table summarizes the Trust’s investments at fair value: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td colspan="13" style="font-weight: bold">(Amounts in 000’s of US$)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Investment in Platinum</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z4eSKnIB58Kj" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum">85,235</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z0YW1HDvvaz3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zFWltMvMtr0e" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zANBawIjrooh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">85,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrY5WmmZbRB3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4k31nV44ewh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There were no transfers between Level 1 and other Levels for the years ended June 30, 2026 and 2025. 2.2 Expenses, realized gains and losses The Trust’s only ordinary recurring fee is expected to be the fee paid to the Sponsor, which will accrue daily at an annualized rate equal to 0.50% of the adjusted daily net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses. The fees payable to the Sponsor were $77,126 as of June 30, 2026 and $29,422 as of June 30, 2025. The Sponsor’s Fee was $930,015 for the year ended June 30, 2026, or 0.50% of the Trust’s assets on an annualized basis, $242,983 for the year ended June 30, 2025, or 0.50% of the Trust’s assets on an annualized basis, and $187,695 for the year ended June 30, 2024, or 0.50% of the Trust’s assets on an annualized basis. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay these expenses. When selling platinum to pay expenses, the Trustee will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s holdings of assets other than platinum. Other than the Sponsor’s Fee, the Trust had no expenses during the year ended June 30, 2026, 2025 and 2024. Unless otherwise directed by the Sponsor, when selling platinum the Trustee will endeavor to sell at the price established by the LBMA PM Platinum Price. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such platinum only if the sale transaction is made at the next LBMA PM Platinum Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order. A gain or loss is recognized based on the difference between the selling price and the cost of the platinum sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale. Realized gains and losses result from the transfer of platinum for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value and cost of platinum transferred. Gain or loss on sales of platinum bullion is calculated on a trade date basis using the average cost method. 2.3 Platinum Receivable and Payable Platinum receivable or payable represents the quantity of platinum covered by contractually binding orders for the creation or redemption of Shares respectively, where the platinum has not yet been transferred to or from the Trust’s account. Generally, ownership of the platinum is transferred within two business days of the trade date. 2.4 Creations and Redemptions of Shares The Trust issues and redeems in one or more blocks of 50,000 Shares (a block of 50,000 Shares is called a “Basket”) only to Authorized Participants on an ongoing basis. The creation and redemption of Baskets will only be made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of platinum represented by the Baskets being created or redeemed, the amount of which will be based on the combined ounces represented by the number of shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. Orders to create and redeem Baskets may be placed only by Authorized Participants. An Authorized Participant must: (1) be a registered broker-dealer or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration, would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards described herein. To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor and the Trustee. The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the delivery of the platinum required for such creations and redemptions. The Authorized Participant Agreement and the related procedures attached thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant. A transaction fee of $500 will be assessed on all creation and redemption transactions. Multiple Baskets may be created on the same day, provided each Basket meets the requirements described below and that the Custodian is able to allocate platinum to the Trust Allocated Account such that the Trust Unallocated Account holds no more than 192 ounces of platinum at the close of a business day. Authorized Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation or inducement of any kind from either the Sponsor or the Trust, and no such person has any obligation or responsibility to the Sponsor or the Trust to effect any sale or resale of shares. 2.5 Income Taxes The Trust is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust itself will not be subject to United States federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, gains, losses and deductions to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2026 and June 30, 2025. The Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet that threshold would be recorded as an expense in the current year. The Trust is required to analyze all open tax years. Open tax years are those years that are open for examination by the relevant income taxing authority. As of June 30, 2026, the 2026, 2025, 2024 and 2023 tax years remain open for examination. 2.6 Segment Reporting The Trust adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) -Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The Trust operates in one segment. The segment derives its revenues from Trust investments made in accordance with the defined investment strategy of the Trust, as prescribed in the Trust’s prospectus. The Chief Operating Decision Maker (“CODM”) is the Sponsor. The CODM monitors the operating results of the Trust. The financial information the CODM leverages to assess the segment’s performance and to make decisions for the Trust’s single segment is consistent with that presented within the Trust’s financial statements. 2.7 Recently Adopted Accounting Pronouncement The Trust adopted the FASB Accounting Standards Update 2023-09, “Income Taxes (Topic 740) Improvements to Income Tax Disclosures” (“ASU 2023-09”), which establishes new income tax disclosure requirements and modifies or eliminates certain existing disclosure provisions. The amendments in this ASU are intended to address investor requests for more transparency about income tax information and to improve the effectiveness of income tax disclosures. The Trust’s adoption of ASU 2023-09 did not have a material impact on the Trust’s financial statements.

2.1 Custody and Fair Valuation of Platinum The Trust follows the provisions of ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Platinum is held by ICBC Standard Bank Plc (the “Custodian”), on behalf of the Trust, at the Custodian’s London, United Kingdom vaulting premises. 99.89% and 99.81% of platinum is in the form of good delivery platinum bars as of June 30, 2026 and 2025, respectively. A current list of all platinum held by the Custodian is available on the sponsor’s website. The cost of platinum is determined according to the average cost method and the fair value is based on the London Bullion Market Association (“LBMA”) Platinum Price PM. LBMA Platinum Price PM is the price per troy ounce of platinum, stated in U.S. dollars, determined by the LME, following an auction process starting after 2:00 p.m. (London time), on each day that the London platinum market is open for business, and announced by the LME shortly thereafter. The per Share amount of platinum exchanged for a purchase or redemption is calculated daily by the Trustee, using the LBMA Platinum Price PM to calculate the platinum amount in respect of any liabilities for which covering platinum sales have not yet been made, and represents the per Share amount of platinum held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. ASC 820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Level 2: Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar data. Level 3: Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available. <p id="xdx_892_eus-gaap--FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock_zotNQARlApZg" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">The following table summarizes the Trust’s investments at fair value: Schedule of Trust Investments Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td colspan="13" style="font-weight: bold">(Amounts in 000’s of US$)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Investment in Platinum</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zIdwLBvLtXC2" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum">163,840</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z3odW8Gidqic" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zNtZL3El4Yw3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zvL9jhyiwUtj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">163,840</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zIEBmOrF0P07" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdSbkQur7Aq6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table summarizes the Trust’s investments at fair value: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td colspan="13" style="font-weight: bold">(Amounts in 000’s of US$)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Investment in Platinum</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z4eSKnIB58Kj" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum">85,235</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z0YW1HDvvaz3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zFWltMvMtr0e" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zANBawIjrooh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">85,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrY5WmmZbRB3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4k31nV44ewh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There were no transfers between Level 1 and other Levels for the years ended June 30, 2026 and 2025. 0.9989 0.9981

<p id="xdx_892_eus-gaap--FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock_zotNQARlApZg" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">The following table summarizes the Trust’s investments at fair value: Schedule of Trust Investments Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td colspan="13" style="font-weight: bold">(Amounts in 000’s of US$)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Investment in Platinum</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zIdwLBvLtXC2" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum">163,840</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z3odW8Gidqic" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zNtZL3El4Yw3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zvL9jhyiwUtj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">163,840</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zIEBmOrF0P07" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdSbkQur7Aq6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table summarizes the Trust’s investments at fair value: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td colspan="13" style="font-weight: bold">(Amounts in 000’s of US$)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Investment in Platinum</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z4eSKnIB58Kj" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum">85,235</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_z0YW1HDvvaz3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--PlatinumMember_zFWltMvMtr0e" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Investment in Platinum"> –</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zANBawIjrooh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">85,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrY5WmmZbRB3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentInPhysicalCommodities_iI_pn3n3_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4k31nV44ewh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

163840000

85235000

2.2 Expenses, realized gains and losses The Trust’s only ordinary recurring fee is expected to be the fee paid to the Sponsor, which will accrue daily at an annualized rate equal to 0.50% of the adjusted daily net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses. The fees payable to the Sponsor were $77,126 as of June 30, 2026 and $29,422 as of June 30, 2025. The Sponsor’s Fee was $930,015 for the year ended June 30, 2026, or 0.50% of the Trust’s assets on an annualized basis, $242,983 for the year ended June 30, 2025, or 0.50% of the Trust’s assets on an annualized basis, and $187,695 for the year ended June 30, 2024, or 0.50% of the Trust’s assets on an annualized basis. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay these expenses. When selling platinum to pay expenses, the Trustee will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s holdings of assets other than platinum. Other than the Sponsor’s Fee, the Trust had no expenses during the year ended June 30, 2026, 2025 and 2024. Unless otherwise directed by the Sponsor, when selling platinum the Trustee will endeavor to sell at the price established by the LBMA PM Platinum Price. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such platinum only if the sale transaction is made at the next LBMA PM Platinum Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order. A gain or loss is recognized based on the difference between the selling price and the cost of the platinum sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale. Realized gains and losses result from the transfer of platinum for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value and cost of platinum transferred. Gain or loss on sales of platinum bullion is calculated on a trade date basis using the average cost method. 0.0050

77126

29422

930015

0.0050

242983

0.0050

187695

0.0050 2.3 Platinum Receivable and Payable Platinum receivable or payable represents the quantity of platinum covered by contractually binding orders for the creation or redemption of Shares respectively, where the platinum has not yet been transferred to or from the Trust’s account. Generally, ownership of the platinum is transferred within two business days of the trade date. 2.4 Creations and Redemptions of Shares The Trust issues and redeems in one or more blocks of 50,000 Shares (a block of 50,000 Shares is called a “Basket”) only to Authorized Participants on an ongoing basis. The creation and redemption of Baskets will only be made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of platinum represented by the Baskets being created or redeemed, the amount of which will be based on the combined ounces represented by the number of shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. Orders to create and redeem Baskets may be placed only by Authorized Participants. An Authorized Participant must: (1) be a registered broker-dealer or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration, would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards described herein. To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor and the Trustee. The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the delivery of the platinum required for such creations and redemptions. The Authorized Participant Agreement and the related procedures attached thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant. A transaction fee of $500 will be assessed on all creation and redemption transactions. Multiple Baskets may be created on the same day, provided each Basket meets the requirements described below and that the Custodian is able to allocate platinum to the Trust Allocated Account such that the Trust Unallocated Account holds no more than 192 ounces of platinum at the close of a business day. Authorized Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation or inducement of any kind from either the Sponsor or the Trust, and no such person has any obligation or responsibility to the Sponsor or the Trust to effect any sale or resale of shares. 50000 50000 500 192

2.5 Income Taxes The Trust is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust itself will not be subject to United States federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, gains, losses and deductions to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2026 and June 30, 2025. The Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet that threshold would be recorded as an expense in the current year. The Trust is required to analyze all open tax years. Open tax years are those years that are open for examination by the relevant income taxing authority. As of June 30, 2026, the 2026, 2025, 2024 and 2023 tax years remain open for examination.

the 2026, 2025, 2024 and 2023 tax years remain open for examination

2.6 Segment Reporting The Trust adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) -Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The Trust operates in one segment. The segment derives its revenues from Trust investments made in accordance with the defined investment strategy of the Trust, as prescribed in the Trust’s prospectus. The Chief Operating Decision Maker (“CODM”) is the Sponsor. The CODM monitors the operating results of the Trust. The financial information the CODM leverages to assess the segment’s performance and to make decisions for the Trust’s single segment is consistent with that presented within the Trust’s financial statements.

2.7 Recently Adopted Accounting Pronouncement The Trust adopted the FASB Accounting Standards Update 2023-09, “Income Taxes (Topic 740) Improvements to Income Tax Disclosures” (“ASU 2023-09”), which establishes new income tax disclosure requirements and modifies or eliminates certain existing disclosure provisions. The amendments in this ASU are intended to address investor requests for more transparency about income tax information and to improve the effectiveness of income tax disclosures. The Trust’s adoption of ASU 2023-09 did not have a material impact on the Trust’s financial statements.

3. Investment in Platinum Changes in ounces of platinum and their respective values for the year ended June 30, 2026: Schedule of Investment in Platinum <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">Amounts in 000’s of US$, except for ounces data</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ounces</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Opening balance as of June 30, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iS_pid_uoz_c20250701__20260630_zSwnPMnJ8Lab" style="width: 16%; text-align: right" title="Platinum opening balance (in Ounces)">63,137.357</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iS_pn3n3_c20250701__20260630_zksOdQRXc3gl" style="width: 16%; text-align: right" title="Platinum opening balance">85,235</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Platinum contributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ContributedOuncesOfBullion_pid_uoz_c20250701__20260630_zN9xIizrOTDk" style="text-align: right" title="Platinum contributed (in Ounces)">78,379.027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ContributedValueOfBullion_pn3n3_c20250701__20260630_zamhbHPHzTXb" style="text-align: right" title="Platinum contributed">156,215</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Platinum distributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DistributedOuncesOfBullion_pid_uoz_c20250701__20260630_zT2FUZMDACUl" style="text-align: right" title="Platinum distributed (in Ounces)">(36,959.582</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DistributedValueOfBullion_pn3n3_c20250701__20260630_zBru7Yfytxf9" style="text-align: right" title="Platinum distributed">(57,458</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in unrealized appreciation (depreciation)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ChangeInUnrealizedAppreciationDepreciation_pid_uoz_c20250701__20260630_zS9tESBUrTj4" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized depreciation (in Ounces)">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangeInUnrealizedAppreciationAndDepreciationAmount_pn3n3_c20250701__20260630_zpDNo6U6tVE8" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized depreciation">(20,152</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance as of June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iE_pid_uoz_c20250701__20260630_zCFtU6qojVnk" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance (in Ounces)">104,556.802</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--InvestmentInPhysicalCommodities_iE_pn3n3_c20250701__20260630_zAU4mpvTdrmc" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance">163,840</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Changes in ounces of platinum and their respective values for the year ended June 30, 2025. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">Amounts in 000’s of US$, except for ounces data</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ounces</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Opening balance as of June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iS_pid_uoz_c20240701__20250630_zb2v8IDSuh05" style="width: 16%; text-align: right" title="Platinum opening balance (in Ounces)">42,625.054</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--InvestmentInPhysicalCommodities_iS_pn3n3_c20240701__20250630_zQkzFUI1YEZc" style="width: 16%; text-align: right" title="Platinum opening balance">43,136</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Platinum contributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ContributedOuncesOfBullion_pid_uoz_c20240701__20250630_zVw8XTwqNnL8" style="text-align: right" title="Platinum contributed (in Ounces)">30,391.246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ContributedValueOfBullion_pn3n3_c20240701__20250630_z3JgCxrCnbfl" style="text-align: right" title="Platinum contributed">32,318</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Platinum distributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--DistributedOuncesOfBullion_pid_uoz_c20240701__20250630_zq75RDoPVSV1" style="text-align: right" title="Platinum distributed (in Ounces)">(9,878.943</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DistributedValueOfBullion_pn3n3_c20240701__20250630_zw2FpCEDmZLf" style="text-align: right" title="Platinum distributed">(9,925</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in unrealized appreciation (depreciation)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ChangeInUnrealizedAppreciationDepreciation_pid_uoz_c20240701__20250630_z4pAI4NDkri3" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized appreciation (depreciation) (in Ounces)">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--ChangeInUnrealizedAppreciationAndDepreciationAmount_pn3n3_c20240701__20250630_zfqHv2Pj4ogb" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized appreciation (depreciation)">19,706</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance as of June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iE_pid_uoz_c20240701__20250630_zWpkT503iC42" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance (in Ounces)">63,137.357</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentInPhysicalCommodities_iE_pn3n3_c20240701__20250630_zcaaj7EQgbrk" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance">85,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Changes in ounces of platinum and their respective values for the year ended June 30, 2026: Schedule of Investment in Platinum <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">Amounts in 000’s of US$, except for ounces data</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ounces</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Opening balance as of June 30, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iS_pid_uoz_c20250701__20260630_zSwnPMnJ8Lab" style="width: 16%; text-align: right" title="Platinum opening balance (in Ounces)">63,137.357</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentInPhysicalCommodities_iS_pn3n3_c20250701__20260630_zksOdQRXc3gl" style="width: 16%; text-align: right" title="Platinum opening balance">85,235</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Platinum contributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ContributedOuncesOfBullion_pid_uoz_c20250701__20260630_zN9xIizrOTDk" style="text-align: right" title="Platinum contributed (in Ounces)">78,379.027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ContributedValueOfBullion_pn3n3_c20250701__20260630_zamhbHPHzTXb" style="text-align: right" title="Platinum contributed">156,215</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Platinum distributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DistributedOuncesOfBullion_pid_uoz_c20250701__20260630_zT2FUZMDACUl" style="text-align: right" title="Platinum distributed (in Ounces)">(36,959.582</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DistributedValueOfBullion_pn3n3_c20250701__20260630_zBru7Yfytxf9" style="text-align: right" title="Platinum distributed">(57,458</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in unrealized appreciation (depreciation)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ChangeInUnrealizedAppreciationDepreciation_pid_uoz_c20250701__20260630_zS9tESBUrTj4" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized depreciation (in Ounces)">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangeInUnrealizedAppreciationAndDepreciationAmount_pn3n3_c20250701__20260630_zpDNo6U6tVE8" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized depreciation">(20,152</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance as of June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iE_pid_uoz_c20250701__20260630_zCFtU6qojVnk" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance (in Ounces)">104,556.802</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--InvestmentInPhysicalCommodities_iE_pn3n3_c20250701__20260630_zAU4mpvTdrmc" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance">163,840</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Changes in ounces of platinum and their respective values for the year ended June 30, 2025. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">Amounts in 000’s of US$, except for ounces data</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ounces</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Opening balance as of June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iS_pid_uoz_c20240701__20250630_zb2v8IDSuh05" style="width: 16%; text-align: right" title="Platinum opening balance (in Ounces)">42,625.054</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--InvestmentInPhysicalCommodities_iS_pn3n3_c20240701__20250630_zQkzFUI1YEZc" style="width: 16%; text-align: right" title="Platinum opening balance">43,136</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Platinum contributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ContributedOuncesOfBullion_pid_uoz_c20240701__20250630_zVw8XTwqNnL8" style="text-align: right" title="Platinum contributed (in Ounces)">30,391.246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ContributedValueOfBullion_pn3n3_c20240701__20250630_z3JgCxrCnbfl" style="text-align: right" title="Platinum contributed">32,318</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Platinum distributed</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--DistributedOuncesOfBullion_pid_uoz_c20240701__20250630_zq75RDoPVSV1" style="text-align: right" title="Platinum distributed (in Ounces)">(9,878.943</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DistributedValueOfBullion_pn3n3_c20240701__20250630_zw2FpCEDmZLf" style="text-align: right" title="Platinum distributed">(9,925</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in unrealized appreciation (depreciation)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ChangeInUnrealizedAppreciationDepreciation_pid_uoz_c20240701__20250630_z4pAI4NDkri3" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized appreciation (depreciation) (in Ounces)">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--ChangeInUnrealizedAppreciationAndDepreciationAmount_pn3n3_c20240701__20250630_zfqHv2Pj4ogb" style="border-bottom: Black 1pt solid; text-align: right" title="Change in unrealized appreciation (depreciation)">19,706</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance as of June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--InvestmentOwnedBalanceOtherMeasure_iE_pid_uoz_c20240701__20250630_zWpkT503iC42" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance (in Ounces)">63,137.357</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentInPhysicalCommodities_iE_pn3n3_c20240701__20250630_zcaaj7EQgbrk" style="border-bottom: Black 2.5pt double; text-align: right" title="Platinum ending balance">85,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

63137.357

85235000

78379.027 156215000 -36959.582 -57458000 -20152000

104556.802

163840000

42625.054

43136000

30391.246 32318000 -9878.943 -9925000 19706000

63137.357

85235000

4. Related parties – Sponsor and Trustee A fee is paid to the Sponsor as compensation for services performed under the Trust Agreement. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee’s fee and out-of-pocket expenses, the custodian’s fee and reimbursement of the custodian expenses, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to $500,000 per annum in legal fees and expenses. The Sponsor’s fee is payable at an annualized rate of <span id="xdx_90A_ecustom--FeePaidToSponsor_pid_dp_uPure_c20250701__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zL38Jz4Q14w3" title="Sponsor fee payable percentage">0.50% of the Trust’s Net Asset Value, accrued on a daily basis computed on the prior Business Day’s Net Asset Value and paid monthly in arrears. The Sponsor, from time to time, may temporarily waive all or a portion of the Sponsor’s Fee at its discretion for a stated period of time. Presently, the Sponsor does not intend to waive any part of its fee. Affiliates of the Trustee may from time to time act as Authorized Participants or purchase or sell platinum or Shares for their own account, as agent for their customers and for accounts over which they exercise investment discretion.

500000

0.0050

5. Concentration of risk The Trust’s sole business activity is the investment in platinum. Several factors could affect the price of platinum, including: (i) global platinum supply and demand, which is influenced by factors such as production and cost levels in major platinum-producing countries, recycling, autocatalyst demand, industrial demand, jewelry demand and investment demand; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that platinum will maintain its long-term value in terms of purchasing power in the future. In the event that the price of platinum declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and results of operations.

6. Indemnification Under the Trust’s organizational documents, each of the Trustee (and its directors, officers, employees, shareholders, agents and affiliates) and the Sponsor (and its members, managers, directors, officers, employees, agents and affiliates) is indemnified against any liability, loss or expense it incurs without (i) gross negligence, bad faith, willful misconduct or willful misfeasance on its part in connection with the performance of its obligations under the Trust Agreement or any such other agreement or any actions taken in accordance with the provisions of the Trust Agreement or any such other agreement and (ii) reckless disregard on its part of its obligations and duties under the Trust Agreement or any such other agreement. Such indemnity shall also include payment from the Trust of the reasonable costs and expenses incurred by the indemnified party in investigating or defending itself against any such loss, liability or expense or any claim therefore. In addition, the Sponsor may, in its sole discretion, undertake any action that it may deem necessary or desirable in respect of the Trust Agreement and in such event, the reasonable legal expenses and costs and other disbursements of any such actions shall be expenses and costs of the Trust and the Sponsor shall be entitled to reimbursement by the Trust. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

7. Subsequent events Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosures.

Cost of investment in platinum: $164,519 and $65,762, respectively. No par value, unlimited amount authorized. Calculated using the average shares outstanding method.