zulip/templates/zerver/email.html

<h4>From: {{ from_email }}</h4>
<h4>To:
    {% for recipient in recipients %}
    {{ recipient }}&nbsp;
    {% endfor %}
</h4>
<h4>Subject: {{subject}}</h4>
{% autoescape off %}
{{ html_message }}
{% endautoescape %}
<pre>{{ body }}</pre>
<hr/>