b'CENTAURUS METALS ANNUAL REPORT 2023The terms and conditions of the zero exercise priced options affecting remuneration during the reporting period are set out below.PerformanceValue per MeasurementOption at Grant DateperiodExpiry DateVesting Conditionsgrant date Executive Directors 26 May 20231 January 2023 to 3131 December 202650% of Options vest based on Total Shareholder Return relative$0.4848 December 2025to a peer group of companies determined by the Board 26 May 20231 January 2023 to 3131 December 202650% based upon Absolute Total Shareholder Return.$0.2592 December 2025 23 March 20221 January 2022 to 3131 December 202550% of Options vest based on Total Shareholder Return relative$1.1485 December 2024to a peer group of companies determined by the Board 23 March 20221 January 2022 to 3131 December 202550% based upon Absolute Total Shareholder Return.$1.0496 December 2024 19 February 20211 January 2021 to 3131 December 202450% of Options vest based on Total Shareholder Return relative$0.7833 December 2023to a peer group of companies determined by the Board.19 February 20211 January 2021 to 3131 December 202450% based upon Absolute Total Shareholder Return.$0.6756 December 2023 Executives 16 February 20231 January 2023 to 3131 December 202650% of Options vest based on Total Shareholder Return relative$0.8491 December 2025to a peer group of companies determined by the Board 16 February 20231 January 2023 to 3131 December 202650% based upon Absolute Total Shareholder Return.$0.6354 December 2025 23 March 20221 January 2022 to 3131 December 202550% of Options vest based on Total Shareholder Return relative$1.1485 December 2024to a peer group of companies determined by the Board 23 March 20221 January 2022 to 3131 December 202550% based upon Absolute Total Shareholder Return.$1.0496 December 2024 13 July 20211 January 2021 to 3131 December 202450% of Options vest based on Total Shareholder Return relative$0.6900 December 2023to a peer group of companies determined by the Board.13 July 20211 January 2021 to 3131 December 202450% based upon Absolute Total Shareholder Return.$0.5774 December 2023 25 January 20211 January 2021 to 3131 December 202450% of Options vest based on Total Shareholder Return relative$0.7188 December 2023to a peer group of companies determined by the Board.25 January 20211 January 2021 to 3131 December 202450% based upon Absolute Total Shareholder Return.$0.6212 December 2023 The achievement of vesting conditions will be determined at the end of the 3-year assessment period and the options will not vest or be capable of being exercised until after this assessment period has closed, other than in the case of a successful change of control transaction in which case the options will immediately vest.The Board considers that this feature of the LTIP provides an appropriate level of protection for KMP and is in alignment with the interests of shareholders who are likely to benefit from a change in control transaction. Participants in the LTI plan must remain in employment during the assessment period.To achieve the relative Total Shareholder Return (TSR) performance measure, the Company must outperform, on a TSR basis, at least 49.9% of the peer group established by the Board. The peer group for the LTI granted during the year ended 31 December 2023 is comprised of the following companies. Adriatic Metals PLCJervois Global LimitedPanoramic Resources Limited Arafura Rare Earths LtdJupiter Mines LimitedPoseidon Nickel Limited Argosy Minerals LimitedLake Resources NLStrandline Resources Limited Blackstone Minerals LimitedLatin Resources N.L.Talga Group Ltd Emerald Resources NLMagnis Energy Technologies LtdTietto Minerals Limited Galan Lithium LimitedMincor Resources NL Hastings Technology Metals Ltd Mount Gibson Iron Limited The assessment of the relative TSR vesting condition will occur in accordance with the table below. Percentile RankingAmount of ZEPO to Vest compared to Peers 50 thPercentileZero B/t 50 thand 75 thPercentile Pro Rata B/t 50% and 100%75 thpercentile100% TSR is defined as the financial gain that results from a change in the Companys share price plus any dividends paid by the Company during the assessment period divided by the share price at the start of the assessment period. 42 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 43Page 16 of 54'