Key Approval for the Cinovec Project

European Metals Holdings Limited (ASX and AIM: EMH, OTCQX: EMHXY/EMHLF) ("European Metals" or the "Company") is pleased to announce that Geomet s.r.o. has been informed it has received Regional Rezoning approval for the Company's flagship Cinovec Lithium Project ("Cinovec" or "Project").

The Ústí nad Labem Regional Assembly voted to support the rezoning application submitted by the Czech Ministry of Industry and Trade.

The rezoning defines the Project's areas and corridors for lithium mining and processing, including corridors for necessary utility supply developments including water, electricity and gas at all of the Project's sites. It also defines the area for the storage and processing of materials from mining activities and the treatment of lithium concentrate at the Prunéřov Processing Plant site, and the planned tailings management facilities in the Doly Nastup Tušimice ("DNT") mining area.

The rezoning application for the Project commenced in March 2022 and has undergone extensive public consultation including two public hearings and a number of written submissions.

Executive Chairman, Keith Coughlan, said:

"I am delighted with the decision of the Ústí nad Labem Regional Assembly. The application has been supported by a number of Czech Government agencies including the Ministry of Industry and Trade, and the Ministry of Environment.

With the rezoning, the excellent Definitive Feasibility Study ("DFS") which was recently released and the benefits from considerable financial support with the recent EU and Czech government grants, the cornerstones are now in place for the rapid advancement of the Cinovec Project towards Final Investment Decision and ultimately, production.

The Project continues to receive strong support at local, regional, national and European levels and comes at a time of renewed positive outlook for lithium and building momentum for the Cinovec Project in the Czech Republic."

Strong support for Cinovec

On 28 November 2025, EMH announced the awarding by the Czech Government of a grant of up to EUR 360 million (AUD 645 million) under the "Strategic Investments for a Climate-Neutral Economy" programme (the "Programme"), administered by the Ministry of Industry and Trade of the Czech Republic for the development of the Project.

The Czech Government's award of a grant of up to EUR 360 million represents one of the largest direct project level funding commitments to a critical raw materials project within the European Union and demonstrates the support for and importance of Cinovec in the future of European electromobility.

The final amount of the monetary grant will be confirmed upon formal award and may be less than the maximum amount of EUR 360 million.

This is the second grant which the Project has received following on from the USD 36m EU Just Transition Fund Grant which was approved in April 2025 (refer ASX/AIM announcement dated 28 April 2025).

The Cinovec Project has been formally recognised at both the European and national levels as essential to Europe's energy transition. It was declared a Strategic Project by the European Commission under the EU Critical Raw Materials Act, granting access to accelerated permitting, funding eligibility through institutions such as the European Investment Bank and "one-stop-shop" regulatory processes. (Refer ASX announcement dated 26 March 2025 and AIM announcement dated 25 March 2025).

This followed the designation by the Czech Government of the Cinovec mineral deposit as a "Strategic Deposit" for the purposes of the Czech Construction Code. Strategic Deposit status enhances the predictability and speed of permitting processes, facilitating the timely extraction of raw materials critical for energy security and industrial needs. (Refer ASX/AIM Announcements dated 7 March 2025.)

This announcement has been approved for release by the Board.

Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech State over the Cinovec Lithium Project. Geomet has been granted a preliminary mining permit by the Ministry of Environment and the Ministry of Industry. The company is owned 49% by EMH and 51% by CEZ a.s. through its wholly owned subsidiary, SDAS. Cinovec hosts a globally significant hard rock lithium deposit with a total Measured Mineral Resource of 54.4Mt at 0.58% Li2O , Indicated Mineral Resource of 378.23Mt at 0.41% Li2O and an Inferred Mineral Resource of 309.49Mt at 0.39% Li2O containing a combined 7.45 million tonnes Lithium Carbonate Equivalent (refer to the Company's ASX/ AIM release dated 23 December 2025) (Cinovec DFS Confirms Long-life Battery Grade Lithium Carbonate Producer Strategically Positioned to supply European EV and Energy-storage Sectors).

A Proven and Probable Ore Reserve of 54.4Mt at 0.58% Li2O has been declared to cover the first 26 years mining at an output of 37,500tpa of lithium carbonate (refer to the Company's ASX/ AIM release dated 23 December 2025) (Cinovec DFS Confirms Long-life Battery Grade Lithium Carbonate Producer Strategically Positioned to supply European EV and Energy-storage Sectors).

The Definitive Feasibility Study (DFS) confirmed the economic viability of the Cinovec Project with steady-state production of 37,500 tpa of battery-grade lithium carbonate (Li₂CO₃), representing ~5.2% of EU demand in 2030 and sufficient for >900,000 50kWh EV batteries annually. Cinovec will have a 28+ year operating life, underpinned by a 748Mt Resource @ 0.19% Li₂O and a 55.4Mt Ore Reserve, with expansion optionality (refer to the Company's ASX/ AIM release dated 23 December 2025) (Cinovec DFS Confirms Long-life Battery Grade Lithium Carbonate Producer Strategically Positioned to supply European EV and Energy-storage Sectors).

Cinovec has received recent impetus from the EU and the Czech Government in the form of grants of USD36 million from the EU Just Transition fund (refer to the Company's ASX/ AIM release dated 28 April 2025) (USD 36 million Just Transition Fund Grant Approved for Cinovec Project) and up to EUR360 million by the Czech Government (refer to the Company's ASX/ AIM release dated 7 March 2025) (Approval of up to €360 Million Czech Government Grant).

The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.

BACKGROUND INFORMATION ON CEZ

Information in this release that relates to exploration results is based on, and fairly reflects, information and supporting documentation compiled by Dr Vojtech Sesulka. Dr Sesulka is a Certified Professional Geologist (certified by the European Federation of Geologists), a member of the Czech Association of Economic Geologist, and a Competent Person as defined in the JORC Code 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Sesulka consents to the inclusion in this release of the matters based on his information in the form and context in which it appears. Dr Sesulka is an independent consultant with more than 10 years working for the EMH or

Geomet companies. Dr Sesulka does not own any shares in the Company and is not a participant in any short- or long-term incentive plans of the Company.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated

production or construction commencement dates and expected costs or production outputs.

LITHIUM CLASSIFICATION AND CONVERSION FACTORS

Lithium resources and reserves are usually presented in tonnes of LCE or Li.

The standard conversion factors are set out in the table below:

Table: Conversion Factors for Lithium Compounds and Minerals