American Depositary Receipt (ADR) program

An ADR is a negotiable US dollar denominated certificate representing ownership of share(s) in a non-US company. European Metals Holdings Limited ADRs represent European Metals Holdings Limited ordinary shares deposited with the depositary bank, to underlie such certificates and carry the rights attached to them as detailed in the Depositary Agreement. Holders of ADRs receive dividends in US dollars (if applicable) and have the right to vote on shareholders resolutions (if applicable). The term ADR and ADS are often used interchangeably. ADRs were specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors.

The ADR ratio defines the numeric relationship between the number of ADRs and the number of ordinary shares. Every 20 ordinary European Metals Holdings Limited share represent 1 European Metals Holdings Limited ADR.

US investors may prefer to purchase ADRs rather than ordinary shares in European Metals Holdings Limited’s home market because ADRs trade, clear and settle according to US market conventions. ADRs allow chiefly US investors to diversify into non-US securities, relatively easily.

European Metals Holdings Limited established the ADR program to make it easier for US investors to invest in European Metals Holdings Limited. ADRs are easier for US investors for various reasons including that administrative costs are reduced and capital gains are realized in US dollars.

We hope that the ADR program encourages US investors to increase their exposure to European Metals Holdings Limited, as it will now be easier for them to do so.

ADR issuers are typically large corporations with primary listings outside of the US. Any non-US company seeking to raise capital in the US or increase their base of US investor can also issue ADRs.

Information about European Metals Holdings Limited is widely available on European Metals Holdings Limited’s website: https://www.europeanmet.com

European Metals Holdings Limited ADRs are traded over-the-counter (OTC) on the electronic market operated by OTCMarkets. For more information, visit www.otcmarkets.com

The OTCMarkets is a decentralized market for securities that are not listed on a stock exchange. Trading on OTCMarkets occurs via a network of dealers who carry inventories of securities to facilitate the buy and sell orders of investors.

Deutsche Bank Trust Company Americas is the depositary bank for European Metals Holdings Limited’s ADR program. The depositary bank plays a key role in issuance as well as cancellation of ADRs. It also maintains the ADR holder register, distributes the dividends in US dollars (if applicable) and facilitates the exercise by the ADRs holders of their voting rights (if applicable).

European Metals Holdings Limited ADRs are denominated in US dollars.

A registered holder is the party whose name appears on the books of the depositary bank. The registered holder is considered the owner of record. A beneficial holder is the ultimate owner of the security, whose holdings are registered in a name other than their own, such as in the name of a broker, bank or nominee.

Converting ordinary shares into ADRs must be done through a broker investment advisor or for registered holders through Deutsche Bank Trust Company Americas. You can contact Deutsche Bank broker services desk on +1 212 250 9100 or +44 207 547 6500

If you do not hold via a broker, bank or nominee, please contact our transfer agent:
Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, NY 11219

Email: moc.k1685876459cotsm1685876459a@BD1685876459
Toll-free number: +1 866 706-0509
Direct Dial: +1 718 921 8124

For corporate action information, please visit:

www.adr.db.com

Search for European Metals Holdings Limited and then select Investor tab.

Alternatively you may contact Deutsche Bank Trust Company Americas Shareholder Services on toll-free number +1 866 706 0509 or direct dial +1 718 921 8137.