b'to our STAKEholdersWe remain firmly focused on delivering projects with class-leading ESG credentials.Key metrics included forecast production ofDetailed environmental and social baseline approximately 18,700 tonnes of recoveredsurveys have been integrated into the nickel metal per year over an initial 18-yearProjects engineering designs.mine life, at a low life-of-mine C1 operatingIn addition to our work to support the mine cost of US$2.30/lb and all-in sustaining cost ofdevelopment, we were also very proud to US$3.57/lb, on a contained nickel basis. continue working with local communities These low operating costs are supported byto help deliver improvements to local the use of very-low-cost 100% renewableinfrastructure as well as education and energy to power the mining operationemployment opportunities. Community a feature that also positions Jaguar to becomeprograms during the year focused on health, one of the worlds lowest carbon emissionwaste management and workforce training for Message from the nickel mines. construction employment opportunities. Managing DirectorOnce in production, Jaguars estimated E1Work programs also continued to progress (Scope 1 + Scope 2 + freight + downstream)at our Boi Novo Copper Project (BNP) and Dear Stakeholders, Green House Gas emissions are forecast toJambreiro Iron Ore Project (JIOP). Initial be exceptionally low at 7.27 tonnes of CO 2 drilling at the BNP has highlighted the I am delighted to introduce Centaurus Metalsper tonne of nickel equivalent produced potential for an emerging copper discovery, third annual Sustainability Report and shareassessed to be lower than 94% of global nickelwhile testwork at the JIOP has confirmed with you our progress over the past yearproduction. By comparison, E1 emissionsthe ability to produce a high-quality towards integrating our strong Environmental,across the global nickel industry averageDirect Reduction (DR) pellet feed, which is Social and Governance (ESG) principles into 48.6 tonnes of CO 2per tonne of nickelexpected to attract strong interest from steel both our project development and ongoingequivalent produced.manufacturers seeking to lower their carbon exploration activities in Brazil. Consistent with Centaurus commitment toemissions. Over the first half of 2024, Centaurus coreestablishing an environmentally and sociallyAt all times, we remain firmly focused on focus was on the delivery of a Feasibility Studyresponsible mining operation at the JNP,delivering projects with class-leading ESG (FS) for our flagship Jaguar Nickel Project a comprehensive consultation program withcredentials.(JNP), located in Brazils Carajs Mineralstakeholders continued throughout 2024, withAs we work towards a Final Investment Province, which provided the opportunity fornumerous community engagement meetingsDecision for the Jaguar Project development the Company to incorporate ambitious ESGheld in the local communities of So Flix doour unwavering commitment to achieve targets into the project development planXingu, Tucum and Ourilndia do Norte. best-in-class ESG performance is stronger from the outset. Strong support from local stakeholders hasthan ever. I would like to thank our entire team The FS focused on an initial concentrate- helped Centaurus obtain the grant of keyof staff and contractors for their continued only projectin line with the two-phaseenvironmental approvals at the JNP, includingpassion and enthusiasm to help us achieve development plan announced early lastthe Preliminary Licence (LP) in February 2024these goals.yearwith the results reinforcing Jaguarsand the Installation Licence (LI) in March 2025. potential to become a sustainable, long-termThe LI represents the final condition required and low-cost producer of low-emission nickelbefore the Mining Lease for the Jaguar Project for global markets, generating strong financialcan be granted. returns while also delivering significant social and economic benefits for local communities. Darren Gordon Managing Director8 April 20257'