1st Quarter Results

European Metals Holdings Limited (ASX & AIM: EMH, OTCQX and OTCQB: EMHXY and EMHLF) ("European Metals" or the "Company") is pleased to provide an update on its activities during the three-month period ending 31 March 2026. This period was one of consolidation following the extremely significant December 2025 quarter, which saw the completion of the Cinovec Project ("Cinovec" or "Project") Definitive Feasibility Study ("DFS") and the confirmation of a project grant of up to EUR 360 million. The March 2026 quarter was highlighted by the submission of the Environmental Impact Assessment for the Project and the Regional Rezoning Approval, as detailed below.

FULL ENVIRONMENTAL IMPACT ASSESSMENT SUBMITTED FOR CINOVEC LITHIUM PROJECT

On 13 January 2026, the Company advised that the full Environmental Impact Assessment ("EIA") for the Cinovec Lithium Project was formally submitted to the Czech Ministry of the Environment on 31 December 2025.

The submission completes the two-stage EIA process, following lodgement of the screening-stage assessment earlier in 2025, and represents a key regulatory milestone for the Project. This EIA covers the entire Cinovec development and supports the outcomes of the recently completed DFS, which confirmed Cinovec as a long-life, large-scale European lithium project with a 26+ year mine life and forecast production of approximately 37,500 tonnes per annum of battery-grade lithium carbonate.

The EIA identifies and assesses potential environmental impacts associated with the Project and outlines proposed mitigation and management measures, including monitoring requirements. It considers physical, biological and socio-economic factors from an environmental protection perspective and incorporates the technical modelling required under Czech and EU regulations.

Submission of the EIA satisfies a key condition of the EU Just Transition Fund ("JTF") grant awarded to the Cinovec Project.

KEY APPROVAL FOR THE CINOVEC PROJECT

On 10 February 2026, the Company announced that Geomet s.r.o. had received Regional Rezoning approval for the Company's flagship Cinovec Lithium 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.

CORPORATE AND ADMINISTRATION

CAPITAL RAISING

During the quarter, the Company completed a placement to raise approximately A$3.46 million (before costs) via the issue of 10,811,500 ordinary fully paid shares to high net worth and institutional clients of Barclay Wells and Zeus Capital ("Placement"). Placement proceeds are being applied towards ongoing development of the Cinovec Lithium Project and general working capital (see ASX/AIM announcement dated 21 January 2026).

ISSUED CAPITAL

A total of 1,000,000 unexercised options and 100,000 performance rights expired during the quarter.

QUARTERLY CASH FLOW REPORT

In accordance with the ASX Listing Rules, the Company will also today lodge its cashflow report for the quarter ended 31 March 2026. There were no cash outflows during the quarter for Cinovec associated costs with respect to the Company's investment in the Cinovec Lithium Project in the Czech Republic. A total of $3.23 million was received via the Placement (net of costs) by the Company during the quarter.

The Company's total cash was $1.77 million as at 31 March 2026.

PAYMENTS TO RELATED PARTIES

As outlined in the attached Appendix 5B (section 6.1), during the quarter approximately $206,000 in payments were made to related parties and their associates for director salaries, consultancy fees, superannuation and other related costs. A portion of these expenses is to be reimbursed directly from Geomet.

GEOMET TENEMENT SCHEDULE

Table 1: Geomet Tenements

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

CAUTION REGARDING FORWARD LOOKING STATEMENTS

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

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity

European Metals Holdings Limited (ASX: EMH)

The amount at 6.1 includes payments of director fees and salaries and accounting and Company Secretary fees (inclusive of GST).

Answer: The Company expects to have similar operating cashflows for the foreseeable future as it continues development of the globally significant Cinovec Lithium Project.

Answer: The Company will require additional capital to support its operating costs as well as capital requirements of the project company Geomet. The Company completed a successful capital raise during the quarter to support ongoing development of the Cinovec Lithium Project and general working capital. The Board is continuing to assess a range of future funding options available to the Company, including potential equity or debt funding. Based on recent market engagement and the success of the most recent capital raise, the Company is confident that it would be able to secure additional funding when appropriate.

Answer: The Company expects to be able to continue its activities, noting that the directors are aware that the Group has the option, if necessary, to defer certain expenditure or to reduce administration costs in order to minimise cash outflows. The directors also remain confident that, when required, the Company will be successful in raising additional funds through the issue of new equity.

Compliance statement

2 This statement gives a true and fair view of the matters disclosed.

Date: 29 April 2026

Authorised by: The Board

(Name of body or officer authorising release - see note 4)

Notes