b'Centaurus Metals Limited and its controlled entitiesCentaurus Metals Limited and its controlled entities CENTAURUS METALS ANNUAL REPORT 2024Financial Report 31 December 2024Financial Report 31 December 2024Note 8.Employee Benefits ExpenseThere were 1,808,580 options exercised during the year (2023: 3,457,919). There were 3,901,896 options issued during the 2024 $2023 $year (2023: 1,535,164). Details of the options issued during the year are as follows: Salaries, fees and other benets10,059,89911,482,214Number of Superannua]on473,105479,383Grant DateOptionsVesting Period(1)Option Term Recognised in explora]on expenditure expense(7,453,181)(8,448,912)Directors 3,079,8233,512,68528/05/24865,69136 months(2)48 months 28/05/24865,69136 months(3)48 months Note 9.Share-based PaymentsTotal1,731,382 From time to time the Group may make share-based payments in connection with its activities. These payments may comprise the issue of options under various terms and conditions. Options granted carry no dividend or voting rights.WhenEmployees exercisable, each option is converted into one ordinary share of the Company with full dividend and voting rights.30/01/241,085,25736 months(2)48 months During the reporting period 3,901,896 options were issued to employees and executive directors (2023: 1,535,164). Options30/01/241,085,25736 months(3)48 months issued to employees were issued under the Employee Share Incentive Plan approved by shareholders at the Annual GeneralTotal2,170,514 Meeting on 27 May 2022. Options issued to executive directors were approved by shareholders under ASX Listing Rule(1)From 1 January 2024 subject to continued employment.10.11.(2)Options will vest in the future subject to performance and services based vesting conditions being met. The Companys share price performance is measured via relative Total Shareholder Return (TSR). The Companys TSR is measured against a peer group of 9.1Reconciliation of Outstanding Share Options companies. Vesting will occur subject to meeting a three-year service condition to 31 December 2026 and the performance condition The number and weighted average exercise prices of share options issued are as follows:tested against the relative TSR measure for the period 1 January 2024 to 31 December 2026. (3)Vesting will occur subject to meeting a three-year service condition to 31 December 2026 and the performance condition tested WeightedWeightedagainst the absolute TSR measure for the period 1 January 2024 to 31 December 2026. Average ExerciseNumber ofAverage ExerciseNumber ofThe following table sets out the vesting outcome base on the Companys relative TSR performance Price 2024Options 2024Price 2023Options 2023 Outstanding at start of period$0.10525,789,169$0.12129,723,075Percentile Ranking compared to Exercised during the period$0.2360(1,808,580)$0.1648(3,457,919)PeersAmount of ZEPO to Vest Lapsed during the period$0.0000(770,205)$0.0000(2,011,151)Less than 50th Percen]leZero Expired during the period$0.4050(450,000)Between 50th and 75th Percen]lePro rata between 50% and 100% Issued during the period$0.00003,901,896$0.00001,535,164Greater than 75th Percen]le100% Outstanding at balance date$0.00006,662,280$0.10525,789,169No options will vest unless the percentile ranking of the Companys TSR for the relevant performance year, as compared to Exercisable at balance date$0.0000-$0.37291,633,334the TSRs for the Peer Group companies, is at or above the 50th percentile. The options outstanding at 31 December 2024 have an exercise price of $0.000 (2023: $0.000 to $0.405) and the weightedThe following table sets out the vesting outcome base on the Companys absolute TSR performance average remaining contractual life is 2.40 years (2023: 1.58 years). Threshold TSR Level overAmount of ZEPO which will vest Assessment Periodand become exercisable Less than 25%Zero Between 20% and 27.5%25% Between 27.5% and 35%50% Between 35% and 42.5%75% 42.5% or greater100% 9.2Inputs for Measurement of Grant Date Fair Values The fair value at grant date of the share-based payments is charged to the income statement over the period which the benefits of the employee services are expected to be derived. The fair values of awards granted were estimated using a Monte Carlo simulation taking into account the following inputs: ShareExpectedFair Life ofPrice atShareRisk FreeValue at GrantExpiryExerciseOptionsGrantPriceVestingInterestGrant DateDatePriceYearsDateVolatilityConditionRateDate 30/01/2431/12/27$0.003.90$0.29050%Rela]ve TSR3.618%$0.2374 30/01/2431/12/27$0.003.90$0.29050%Absolute TSR3.618%$0.0946 28/05/2431/12/27$0.003.60$0.51050%Rela]ve TSR3.875%$0.4490 28/05/2431/12/27$0.003.60$0.51050%Absolute TSR3.875%$0.2837 Page 41 of 60Page 42 of 6066 ANNUAL REPORT CENTAURUS METALS LIMITED'