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Agenda slide 2 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Text slide 3 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Table slide 4 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Cover slide 5 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Chart slide 6 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Chart slide 7 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Chart slide 8 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Text slide 9 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Quote slide 10 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Text slide 11 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Text slide 12 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Text slide 13 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Team slide 14 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Text slide 15 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Table slide 16 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Table slide 17 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Comparison slide 18 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Case Study slide 19 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Cover slide 20 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Team slide 21 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Team slide 22 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Team slide 23 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Team slide 24 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Framework slide 25 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Comparison slide 26 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Chart slide 27 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)

Case Study slide 28 from Saba Capital Management — Why a New Board Is Needed at ASA Gold and Precious Metals (NYSE: ASA)