b"CENTAURUS METALS ANNUAL REPORT 2023The assessment of the absolute TSR vesting condition will occur in accordance with the table below. Threshold TSR Level overAmount of ZEPOs which will vest Assessment Periodand become exercisable Less than 25%Zero B/t 25% and 32.5%50% B/t 32.5% and 40%75% 40% or greater100% Vested options can be exercised any time between vesting and the expiry date. 15.2.4 Retention Bonuses During the year, a retention bonus was awarded to four long-standing KMP to ensure continuity and stability in leadership during a pivotal period of growth and development for the Company.Fundamentally, the decision to award the retention bonus was a strategic move to retain top talent within the organization at a time when the labour market for senior resource executives was particularly tight.Importantly, the Board wanted to ensure the Company retained the longstanding KMP that had a deep operating knowledge of Brazil that could continue to support the development of the Jaguar Nickel Sulphide Project, and also develop new growth opportunities to drive shareholder value.During the 3-year period through to the end of 2022, the Company, under the effective leadership and strategic direction provided by the KMP, was able to deliver total shareholder return over 900%, emphasising to the Board the need to retain the services of this key group of KMP during the key pre-development stages of the Jaguar Project and to develop new opportunities, ultimately benefiting shareholders through continued growth and value creation.The award of the retention bonus to KMP during 2023 aligns with Centaurus Metals' commitment to creating long-term shareholder value by retaining top talent, maintaining strong leadership, and building a Brazilian strategic minerals business to benefit our shareholders, our people and the communities where we operate. The Company determined that the retention bonus would be paid in three instalments with the first instalment being paid during 2023, details of which are set out in Section 15.7 below, and the remaining two instalments to be paid during 2024.15.3Employment Agreements Remuneration and other terms of employment for executives are formalised in employment agreements which are reviewed annually.The agreements provide for both fixed and variable remuneration including participation, at the discretion of the Board in short and long-term incentive plans (refer to sections 15.2.2, 15.2.3 and 15.2.4).Other major provisions of the employment agreements, as at 31 December 2023, relating to remuneration are set out below: Total FixedRedundancy RemunerationMaximum STIMaximum LTINotice PeriodNotice Period(Includes Name(TFR)PotentialPotentialCompanyEmployeeNotice Period) D P Gordon $533,000 pa50% 100%12 months6 months12 months W E Foote$425,000 pa40%60%3 months3 months6 months J W Westdorp $390,000 pa40%60%6 months2 months6 months B R Scarpelli$372,000 pa45%70%2 months2 months6 months R J Fitzhardinge $273,600 pa40%60%2 months2 months6 months As part of the annual remuneration review for FY2024, the Board approved a TFR review increase of 3.0% for KMP, which include the legislated superannuation increase effective from 1 July 2023. The nominal increases are less than the increase in the Consumer Price Index in the 2023 financial year. There were no changes in the STI or LTI levels as a percentage of each KMPs Total Fixed Remuneration (TFR).44 ANNUAL REPORT CENTAURUS METALS LIMITED Page 17 of 54CENTAURUS METALS LIMITED ANNUAL REPORT 45"