FORM 13-502F1 |
| CLASS 1 AND CLASS 3B REPORTING ISSUERS – PARTICIPATION FEE |
| | MANAGEMENT CERTIFICATION |
| | | I, Andre van Niekerk, an officer of the reporting issuer noted below have examined this Form 13-502F1 (the |
| | | Form) being submitted hereunder to the Ontario Securities Commission and certify that to my knowledge, having |
| | | exercised reasonable diligence, the information provided in the Form is complete and accurate. |
| | | (s) “Andre van Niekerk” | June 26, 2023 |
| | | Name: Andre van Niekerk | Date: |
| | | Title: CFO |
| | | Reporting Issuer Name: | Gatos Silver, Inc. |
| | | End date of previous financial year: | December 31, 2022 |
| | | Type of Reporting Issuer: | | Class 1 reporting issuer Class 3B reporting issuer |
| | | Highest Trading Marketplace: | Toronto Stock Exchange |
| | | (refer to the definition of “highest trading marketplace” under OSC Rule 13-502 Fees) Market value of listed or quoted equity securities: (in Canadian Dollars - refer to section 7.1 of OSC Rule 13-502 Fees) |
| | | Equity Symbol | | GATO |
| | | 1st Specified Trading Period (dd/mm/yy) |
| | | (refer to the definition of “specified trading period” under OSC |
| | | Rule 13-502 Fees) | | | | | | 01/01/2022 | to | | 31/03/2022 |
| | | 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 | | $ | | 5.37 | (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 | | | | 69,162,223 | (ii) |
| | | Market value of class or series | (i) x (ii) | $ | | 371,401,138 | (A) |
| | | 2nd Specified Trading Period (dd/mm/yy) |
| | | (refer to the definition of “specified trading period” under OSC |
| | | Rule 13-502 Fees) | | | 01/04/2022 | to | | 30/06/2022 |
| | | 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 | | $ | | 3.74 | (iii) |
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| 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 | | 69,162,223 | (iv) |
| Market value of class or series | | | | (iii) x (iv) | $ | 258,666,714 | (B) |
| 3rd Specified Trading Period (dd/mm/yy) | | | | | |
| (refer to the definition of “specified trading period” under OSC |
| | | | | | 01/07/2022 | to | 30/09/2022 | |
| Rule 13-502 Fees) |
| 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 | $ | 3.70 | (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 | | 69,162,223 | (vi) |
| Market value of class or series | | | | (v) x (vi) | $ | 255,900,225 | (C) |
| 4th Specified Trading Period (dd/mm/yy) | | | | | | | | | | | |
| (refer to the definition of “specified trading period” under OSC |
| | | | | | 01/10/2022 | to | 31/12/2022 | |
| Rule 13-502 Fees) |
| 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 | $ | 5.48 | (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 | | 69,162,223 | (viii) |
| Market value of class or series | | | | (vii) x (viii) | $ | 379,008,982 | (D) |
| 5th Specified Trading Period (dd/mm/yy) | | | | | |
| (if applicable, refer to the definition of “specified trading period” |
| | | | | N/A | to | N/A | |
| under OSC Rule 13-502 Fees) |
| 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)) | | | | | | | | $ | 316,244,265 | (1) |
| (Repeat the above calculation for each other class or series of equity securities of the reporting issuer (and a |
| subsidiary pursuant to paragraph 2.8(1)(c) of OSC Rule 13-502 Fees, if applicable) that was listed or quoted on a |
| marketplace at the end of the previous financial year) |
| | | | | | | | | |
- 3 - |
| Fair value of outstanding debt securities: |
| (See paragraph 2.8(1)(b), and if applicable, paragraph |
| 2.8(1)(c) of OSC Rule 13-502 Fees) | | $ | N/A | (2) |
| (Provide details of how value was determined) | | | N/A |
| Capitalization for the previous financial year | | | | | (1) + (2) | $ | 316,244,265 |
| Participation Fee | | $ | 9,780 |
| (For Class 1 reporting issuers, from Appendix A of OSC Rule |
| 13-502 Fees, select the participation fee) | |
| (For Class 3B reporting issuers, from Appendix A.1 of OSC |
| Rule 13-502 Fees, select the participation fee) |
| Late Fee, if applicable |
| (As determined under section 2.7 of OSC Rule 13-502 Fees) | | $ | 586.80 |
| Total Fee Payable |
| (Participation Fee plus Late Fee) | | $ | 10,366.80 |