b'CENTAURUS METALS ANNUAL REPORT 2023 Financial Report31 December 2023Note 21.Capital and Reserves 2023 Number of2022 Number Sharesof Shares On issue at beginning of period427,106,273358,291,616 Issue of ordinary shares for placement at $0.7300 per share64,293,441- Issue of ordinary shares on exercise of unlisted zero exercise price options1,941,252- Issue of ordinary shares on exercise of unlisted options at $0.3920 per share1,400,000- Issue of ordinary shares on exercise of unlisted options at $0.1800 per share116,667116,667 Issue of ordinary shares for placement at $1.1600 per share-64,655,172 Issue of ordinary shares as a part of placement fee at $1.1600 per share-409,483 Issue of ordinary shares on exercise of unlisted options at $0.2250 per share-2,233,335 Issue of ordinary shares on exercise of unlisted options at $0.3780 per share-1,400,000 On issue at the end of the periodFully paid494,857,633427,106,273 Ordinary Shares Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the Company in proportion to the number of and amounts paid on the shares held. Every holder of ordinary shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote. Options Information relating to options, including details of options issued, exercised or lapsed during the financial year and outstanding at the end of the financial year are set out in 0.Share-based Payments Reserve The share-based payments reserve is used to recognise the fair value of options issued but not exercised. Translation Reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations, as well as from the translation of liabilities that hedge the Groups net investment in a foreign subsidiary. Note 22.Contingent Liabilities Guarantees The Company has given guarantees in respect of bank security bonds amounting to $122,519 (2022: $119,159), secured by cash deposits lodged as security with the bank. Jaguar Project Acquisition The terms of the Jaguar Sale and Purchase Agreement (as amended by the acquisition of the offtake rights by the Company in June 2023) with Vale give rise to the following contingent liabilities related to the Jaguar Project Acquisition. US$5.0 million on first commercial production from the project payable to Vale; a royalty of 1.75% on Net Operating Revenue for nickel sulphate or 2.00% on Net Operating Revenue generated from any future concentrate production from the project payable to Vale; and a royalty of 1.8% on Net Operating Revenue generated from any future concentrate production from the project payable to BNDES.No material losses are anticipated in respect of any of the above contingent liabilities. There are no other contingent liabilities that require disclosure.Note 23.Capital Commitments The Group has no capital commitments as at the year ended 31 December 2023 (2022: $nil).Page 44 of 54 70 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 71'