FORM 13-501F1 |
| CLASS 1 REPORTING ISSUERS AND CLASS 3B REPORTING ISSUERS - |
PARTICIPATION FEE |
| | MANAGEMENT CERTIFICATION |
| | | I, Adam Dubas, an officer of the reporting issuer noted below have examined this Form 13- |
| | | 501F1 (the | Form) being submitted hereunder to the Alberta Securities Commission and certify |
| | | that to my knowledge, having exercised reasonable diligence, the information provided in the |
| | | Form is complete and accurate. |
| | | "Adam Dubas" | March 30, 2021 |
| | | Name: Adam Dubas | Date: |
| | | Title: Chief Administrative Officer |
| | | Reporting Issuer Name: | | Gatos Silver, Inc. |
| | | End of date of previous financial year: December 31, 2020 Type of Reporting Issuer: |
| | | | | | Class 1 reporting issuer |
| | | | | | Class 3B reporting issuer |
| | | Highest Trading Marketplace: | | Toronto Stock Exchange |
| | | Market value of listed or quoted equity securities |
| | | Equity Symbol | | | GATO |
| | | 1st Specified Trading Period | 01/01/2020 | | to | 31/03/2020 |
| | | Closing price of the security in the class or series on |
| | | the last trading day of the specified trading period in |
| | | which such security was listed or quoted on the |
| | | highest trading marketplace | | | $ | N/A | (i) |
| | | Number of securities in the class or series of such |
| | | security outstanding at the end of the last trading day |
| | | of the specified trading period | | | | N/A | (ii) |
| | | Market value of class or series | (i) x (ii) $ | | | N/A | (A) |
- 2 - |
| 2nd Specified Training Period (dd/mm/yy) | 01/04/2020 | to | 30/06/2020 |
| | | | | |
| Closing price of the security in the class or series on | |
| the last trading day of the specified trading period in |
| which such security was listed or quoted on the |
| highest trading marketplace | | $ | N/A | | (iii) |
| | | | |
| Number of securities in the class or series of such | | |
| security outstanding at the end of the last trading day |
| of the specified trading period | | | N/A | | (iv) |
| | | | |
| Market value of class or series | (iii) x (iv) $ | | N/A | | (B) |
| | | | |
| | | | |
| 3rd Specified Trading Period (dd/mm/yy) | 01/07/2020 | to | 30/09/2020 |
| Closing price of the security in the class or series on | |
| the last trading day of the specified trading period in |
| which such security was listed or quoted on the |
| highest trading marketplace | | $ | N/A | | (v) |
| | | |
| Number of securities in the class or series of such | | |
| security outstanding at the end of the last trading day |
| of the specified trading period | | | N/A | | (vi) | |
| | | |
| Market value of class or series | (v) x (vi) $ | | N/A | | (C) | |
| | | | |
| | | | |
| 4th Specified Trading Period (dd/mm/yy) | 01/10/2020 | to | 31/12/2020 |
| Closing price of the security in the class or series on | | | | | | |
| the last trading day of the specified trading period in |
| which such security was listed or quoted on the |
| highest trading marketplace | | $ | 16.52 | (vii) |
| | | |
| Number of securities in the class or series of such | | |
| security outstanding at the end of the last trading day |
| of the specified trading period | | | 59,183,076 (viii) |
| | | | |
| Market value of class or series | | | | | | | | | | (vii) x (viii) | $ 977,704,416 (D) |
| | | |
| | | |
- 3 - |
| 5th Specified Trading Period (dd/mm/yy) | N/A | to | N/A |
| Closing price of the security in the class or series on | | | | |
| the last trading day of the specified trading period in |
| which such security was listed or quoted on the |
| highest trading marketplace | | $ | N/A | | (ix) |
| | | | | | | | | | |
| Number of securities in the class or series of such | | | | | |
| security outstanding at the end of the last trading day |
| of the specified trading period | | | N/A | | (x) |
| | | | | | | | | | |
| Market value of class or series | | | | | | | | | | | | | | (ix) x (x) $ | | N/A | | (E) |
| | | | | | | | | | |
| Average Market Value of Class or Series | | | | |
| (Calculate the simple average of the market value of |
| the class or series of security for each applicable |
| specified trading period (i.e. A through E above)) | | $ 977,704,416 | | | (1) |
| | | | | | |
| |
| (Repeat the above calculation for each other class or series of equity securities of the reporting |
| issuer (and a subsidiary, if applicable) that was listed or quoted on a marketplace at the end of |
| the previous financial year) |
| Fair value of outstanding debt securities: |
| | | | | | | | | | $ | N/A | (2) |
| (Provide details of how value was determined) |
| | | | | | | | | | | N/A |
| | | | | | | | | | | |
| | | | | | | | | | | |
| Capitalization for the previous financial year | | | | (1) + (2) $ | | 977,704,416 |
| | | | | | | | | | | |
| Participation Fee | | | | | | | | | $ | 6,000 |
| | | | | | | | | | | |
| Late Fee, if applicable | | | | | | | | | $ | N/A |
| | | | | | | | | | | |
| Total Fee Payable | | | | | | | | | |
| (Participation Fee plus Late Fee) | | | | | | | | | $ | 6,000 |
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