b'CENTAURUS METALS ANNUAL REPORT 2023 Financial Report31 December 2023Tax Losses 31 December31 December 20232022 $ $Tax losses70,390,24666,189,799 Potential tax benefit (between 30-34%)22,185,04819,677,571 The tax losses do not expire under current tax legislation.Deferred tax assets have not been recognised in respect of remaining tax losses because it is not probable that future taxable profit will be available against which the Group can utilise the benefit. Deferred Tax AssetsThe following deferred tax balances have not been recognised: 31 December31 December 20232022 $ $ Deferred Tax Assets Exploration expenditure31,400,35021,247,510 Accrued expenses/provisions6,897,3658,992,211 Transaction costs relating to issue of capital361,173246,235 Tax losses carried forward (net of tax losses utilised) 22,185,04819,677,571 60,843,93650,163,527 The tax benefits of the above deferred tax assets will only be obtained if: The Company derives future assessable income of a nature and of an amount sufficient to enable the benefit to be utilized; The Company continues to comply with the conditions for the deductibility imposed by law; andNo changes in income tax legislation adversely affect the Company in utilising the benefits. Note 11.Dividends There were no dividends paid or declared during the period (2022: nil). Note 12.Earnings/(Loss) per Share Basic Loss per ShareThe calculation of basic and diluted earnings per share at 31 December 2023 was based on the loss attributable to ordinaryshareholdersof$40,740,002(2022:$42,627,555)andaweightedaveragenumberofordinaryshares outstanding of 455,019,721 (2022: 420,198,738), calculated as follows: Loss Attributable to Ordinary Shareholders 31 December31 December 20232022 $ $Loss attributable to the shareholders(40,740,002)(42,627,555) Weighted Average Number of Ordinary Shares 20232022 NumberNumber Issued ordinary shares at beginning of the period427,106,273358,291,616 Effect of shares issued27,913,44861,907,122 Weighted average number of ordinary shares at the end of the period 455,019,721420,198,738Loss per share (cents)(8.95)(10.14) Diluted loss per share (cents)(8.95)(10.14)Page 40 of 54 66 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 67'