b'PROJECT APPROVALSDuring the reporting period, the Company took several important steps at Jaguar towards a fully approved Project, with the receipt of the technical approval of its PAE by the ANM; the approval of the EIA/RIMA and formal issue of the LP by the Par State Environmental AgencySEMAS; and the grant of the combined LP and Installation Licence (LI) for the high-voltage powerline. From an environmental approvals perspective, the Company was eagerly awaiting the grant of the LI at the end of 2024.Pleasingly, this key approval and grant of the LI was received subsequent to year end.Now the LI has been issued, the formal grant of the Mining Lease by the National Mining Agency, ANM, can occur given technical approval of the Mining Lease Application was already received in early 2024.The ANM also issued a Mining Easement for the Jaguar Project and key infrastructure corridors (roads and high voltage powerline) in December 2024. It guarantees Centaurus will be able to access all areas necessary for the implementation of the Jaguar Project. Completion of the Mining Lease, environmental approvals and the Companys strategic partnering process are the key factors in the timing of a Final Investment Decision (FID).CENTAURUS METALS LIMITED ANNUAL REPORT 15'