Clean Battery Solutions for a Better Planet

FREYR Target Total Addressable Market: 97% of Global Battery Market by 2030 FREYR Total Addressable Market GWh installed / year EU/USA Total ~5,150 GWh China and ROW Other Mobility ~690 Energy Storage System Electric Vehicles ~590 ~2,060 Total 727 GWh Total 46 GWh 2020 2025 % of End Market Segments Initial Targeted Strategic Partnerships ~33%/ 100%/ 100% Other Mobility 1) 2) SIEMENS energy MAERSK 100%/ 100%/ 100% Energy Storage System (ESS) Scatec Solar Improving our future" བག ITOCHU ~3,870 ~3,090 ~10%/ ~50%/ Electric Vehicles 1) 2) Targeting OEM Partners 100% 2030 2030 XX% Addressable Share of Total Segment Market (2020/2025/2030), FREYR's Addressable Market (high-level assessment) 1) Including assumption for an accelerated lead-acid to Li-ion migration 2020-30 and increased adoption of ESS system with a lower cost offering similar to FREYR 2) FREYR technology roadmap begins addressing parts of EV segment from 2023, fully addressable by 2030 FREYR Clean battery solutions Source: Study commissioned from global management consultancy 19

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