b'CENTAURUS METALS ANNUAL REPORT 2023 Financial Report31 December 202315.8Equity InstrumentsOptions may be granted under the ESIP. Eligibility to participate in the ESIP (including participation by Executive and Non-Executive directors) is determined by the Board in its absolute discretion. The vesting and exercise conditions of options granted are also determined by the Board in its absolute discretion. Employees must remain in employment during the vesting period. Options may also be granted by the Company outside of the ESIP, but under similar terms and conditions. TheGrouphasapolicythatprohibitsdirectorsandemployeeswhoaregrantedshareoptionsaspartoftheir remuneration from entering into arrangements that limit their exposure to losses that would result from share price decreases. 15.8.1 LTI Performance for 2021 OptionsThe three year assessment period for the options issued under the LTIP in 2021 closed at the end of the reporting period being 31 December 2023. Subsequent to year-end an assessment was undertaken by the Board to determine the number of options that would vest. The vesting condition for tranche 1 was based on the TSR relative to a peer group of companies determined by the Board and disclosed in the 2021 Annual Report, while the vesting condition for tranche 2 was based on absolute TSR.The Board determined that the vesting condition for tranche 1 had been met with the relative TSR of 68.8% resulting in a pro rata vesting of 91.7%. A total of 625,247 options vested and 72,479 lapsed. Tranche 2 vesting conditions were not met, and 697,726 options lapsed. The outcome for KMP is shown in the table below. The vested and lapsed options were held by each KMP at year-end and are included in the 31 December 2023 total balance in 15.8.3.LTIP ZEPOs Issued in 2021VestedLapsed Directors Mr D P Gordon215,277(254,837) Mr B R Scarpelli89,164(105,304) Executives Mr R J Fitzhardinge 75,917(121,433) Mr J W Westdorp104,042(122,856) Mr W E Foote89,825(106,085) 15.8.2 Analysis of Options over Equity Instruments Granted as Compensation Details of vesting profiles of the options granted as remuneration both during the current and prior years to KMP of the Group are detailed below. During the period 2,011,151 options which were issued in 2020 lapsed. A total of 3,457,919 options previously granted as compensation with a weighted average exercise price of $0.16 were exercised raising $569,800. Number ofFair value perFinancial Year Optionsoption at grant% Vest inin Which Grant IssuedGrant DateExpiry DateExercise Pricedate YearVests/Vested Directors Mr D M Murcia600,00029/05/2031/05/24$0.405$0.1667100%2023 (1) Mr D P Gordon841,47929/05/2031/12/23$0.000$0.2013100%2023 (2)235,30719/02/2131/12/24$0.000$0.7833-2024 (3)235,30719/02/2131/12/24$0.000$0.6756-2024 (4) 223,03023/03/2231/12/25$0.000$1.1485-2025 (5) 223,02923/03/2231/12/25$0.000$1.0496-2025 (6) 231,35726/05/2331/12/26$0.000$0.48482026 (7)231,35726/05/2331/12/26$0.000$0.25922026 (8)Mr B R Scarpelli339,99129/05/2031/12/23$0.000$0.2013100%2023 (2)97,23419/02/2131/12/24$0.000$0.7833-2024 (3)97,23419/02/2131/12/24$0.000$0.6756-2024 (4)77,67023/03/2231/12/25$0.000$1.1485-2025 (5) 77,66923/03/2231/12/25$0.000$1.0496-2025 (6) 113,03126/05/2331/12/26$0.000$0.4848-2026 (7)113,03026/05/2331/12/26$0.000$0.2592-2026 (8) Mr M D Hancock400,00029/05/2031/05/24$0.405$0.1667100%2023 (1) Page 20 of 54 46 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 47'