b'CENTAURUS METALS ANNUAL REPORT 2023Financial Report31 December 2023Government Grants Government grants that compensate the Group for expenses incurred are recognised in profit or loss as other income on a systematic basis in the periods in which the expenses are recognised, unless the conditions for receiving the grant are met after the related expenses have been recognised. In this case, the grant is recognised when it becomes receivable. Changes in Accounting PoliciesThe Group has adopted the amendment to standards, including any consequential amendments to other standards, with a date of initial application of 1 January 2023. The adoption of these amendments did not have a significant impact on the Group.New Standards and Interpretations Not Yet Adopted Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2023 reporting periods and have not been early adopted by the Group These standards are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions.There are no other standards that are not yet effective and that would be expected to have a material impact on the entity in the current or future reporting period and on foreseeable future transactions.Note 6.Operating SegmentsThe Group operates in the mineral exploration industry. For management purposes the Group is organised into one main operating segment which involves the exploration of minerals. All of the Groups activities are interrelated and financial information is reported to the Managing Director (Chief Operating Decision Maker) as a single segment. Accordingly, all significant operating decisions are based upon an analysis on the Group as one segment. The financial results and financial position from this segment are largely equivalent to the financial statements of the Group as a whole. 2023 2022 Geographical Segment InformationNon-currentNon-current AssetsAssets $$ Brazil23,170,73621,651,685 Australia341,356307,784 Total23,512,09221,959,469 Note 7.Other Income 31 December31 December 20232022 $$ R&D tax refund1,304,766517,875 Gain on sale of property plant & equipment-10,769 Other-6,256 1,304,766534,900 Note 8.Employee Benefits Expense 31 December31 December 20232022 $$ Salaries, fees and other benefits11,482,2146,760,576 Superannuation479,383293,323 Recognised in exploration expenditure expense(8,448,912)(4,556,382) Total3,512,6852,497,517Page 37 of 54 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 6564'