True, but probably still better than the US or UK: https://protonmail.com/blog/investigatory-powers-bill-email-...
Their EU servers are in the Netherlands. Although I guess it's hard to know if any EU traffic goes to the US servers.
Australia does have similar laws but it seems they don't apply in this case: https://blog.fastmail.com/2015/04/09/fastmail-is-not-require...