Cinovec Project Environmental Impact Assessment

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

For immediate release                                                                                                                        6 May 2026

Cinovec Project Environmental Impact Assessment

European Metals Holdings Limited (ASX & AIM: EMH) ("European Metals" or the "Company") is pleased to announce progress in environmental permitting of the Cinovec Project.

·      Public hearing to be scheduled for the coming weeks.

·      EIA published by Czech Ministry of Environment.

·      Cross-border EIA process (mining area only) commences.

Czech EIA permitting progress

The Project team has been actively engaged with the Czech Ministry of Environment since the EIA was submitted on 31 December 2025 (refer to the Company's ASX/ AIM release dated 13 January 2026) (Full Environmental Impact Assessment submitted for Cinovec Lithium Project) to enable the Ministry to complete its review of the EIA before publication of the full EIA and the public consultation process.

The Company is pleased to report that the Ministry of Environment review process is now complete and the Ministry has published the EIA[1]. The public hearing will been scheduled to take place in the coming weeks.

Cross-border EIA process

As part of the EIA permitting process the Company has recently been advised that the Cinovec Project requires a limited cross-border EIA process insofar as it affects German interests, with the Cinovec deposit straddling the Czechia/Germany border. As such, the cross-border EIA assessment relates to the mining part of the Project only, assessing the impacts upon cross-border hydrology and mine scheduling.

A fully-detailed cross-border hydrological model has been prepared for the Cinovec and Zinnwald projects together, by ERM (ERM International Group Limited) and DHI (Danish Hydraulic Institute). The relevant parts of the Czech EIA have been translated into German and have been transmitted to the Saxon State Council by the Czech Ministry of Environment. Geomet and its representatives have met the Saxon State Council on a number of occasions to facilitate and plan the cross-border EIA requirements and process.

A further update on the expected timetable for the cross-border EIA process will be announced in due course.

Keith Coughlan, Executive Chairman, commented: "We are pleased with the progress which the Project team has made in relation to the environmental permitting of the Cinovec Project.  The Publishing of the EIA by the Ministry of the Environment of the Czech Government is a critical path item with regards the obtaining of the final EIA approval and progressing the Cinovec Project."

This announcement has been approved for release by the Executive Chairman.

CONTACT

For further information on this update or the Company generally, please visit our website at www.europeanmet.com or see full contact details below.

ENQUIRIES:

BACKGROUND INFORMATION ON CINOVEC

Cinovec Lithium Project

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).

This makes Cinovec the largest hard rock lithium deposit in Europe and by far the largest hard rock lithium deposit in the European Union.

Cinovec has been designated a Strategic Project by the European Union under the Critical Raw Materials Act (refer to the Company's ASX/ AIM release dated 25/26 March 2025) (Cinovec declared a Strategic Project under EU Critical Raw Materials Act) and a Strategic Deposit by the Czech Government (refer to the Company's ASX/ AIM release dated 7 March 2025) (Cinovec declared Strategic Deposit by Czech Government).

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.

Cinovec is centrally located for European end-users and is well serviced by infrastructure, with a sealed road adjacent to the deposit, rail lines located 5 km north and 8 km south of the deposit, and an active 22 kV transmission line running to the historic mine. The deposit lies in an active mining region.

The Cinovec processing plant comprises of a Front-End Comminution and Beneficiation circuit (FECAB) and Lithium Chemical Plant circuit (LCP) in combination producing Lithium Carbonate end products and will be located on the Prunéřov 1 Power Station site located approximately 59km by rail from the Cinovec mine site (refer to the Company's ASX/ AIM releases dated 26 April 2024 (New Lithium Plant Site Expected to Improve Project Permitting and Economics) and 27 November 2024 (Cinovec Project Update)).

BACKGROUND INFORMATION ON CEZ

Headquartered in the Czech Republic, CEZ a.s. is one of the largest companies in the Czech Republic and a leading energy group operating in Western and Central Europe. CEZ's core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction. The foundation of power generation at CEZ Group are emission-free sources.  The CEZ strategy named Clean Energy for Tomorrow is based on ambitious decarbonisation, development of renewable sources and nuclear energy. CEZ announced that it would move forward its climate neutrality commitment by ten years to 2040.

The largest shareholder of its parent company, CEZ a.s., is the Czech Republic with a stake of approximately 70%. The shares of CEZ a.s. are traded on the Prague and Warsaw stock exchanges and included in the PX and WIG-CEE exchange indices. CEZ's market capitalization is approximately EUR 28.2 billion.

As one of the leading Central European power companies, CEZ intends to develop several projects in areas of energy storage and battery manufacturing in the Czech Republic and in Central Europe.

CEZ is also a market leader for E-mobility in the region and has installed and operates a network of EV charging stations throughout Czech Republic. The automotive industry in the Czech Republic is a significant contributor to GDP, and the number of EV's in the country is expected to grow significantly in the coming years.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.