Freyr Results Presentation Deck

2Q key messages Relentless focus on growing FREYR's business through operational execution, capital formation and converting commercial opportunities Announcing appointments to FREYR's management team and Board of Directors Former Microsoft executive Birger Steen joins FREYR as new CEO and Board member • Tom Einar Jensen appointed Executive Chair of FREYR's Board of Directors • Founder and Executive Chair Torstein Dale Sjøtveit has retired Adding deep technology sector expertise and leadership bandwidth to accelerate strategic initiatives and development of FREYR's business plan On track to achieve key milestones at the CQP ● ● ● CQP progress driving Giga America equity raise, US DOE process and project financings • On track to execute up to $1 billion Giga America project equity raise in early 4Q 2023, driving Phase 1a FID by year end • Launched application process with the US Department of Energy Loan Programs Office under Title XVII for Giga America Phase 1b • Process initiated with Norwegian Government financing institutions to formalize Giga Arctic incentive package; awarded €100 MM grant from EUIF FREYR to redomicile to the United States by year-end 2023 Dramatically expands FREYR's eligibility for equity index inclusion and associated passive and active investment Aligns Giga America with incentives under the Inflation Reduction Act and the US DOE Further aligns corporate governance with operational, organizational and financing priorities while preserving European strategy European LFP market likely to remain undersupplied into 2030 Recently commissioned report from Rystad Energy presents constructive outlook for fit-for-purpose ESS solutions based on LFP chemistries Forecast underpinned by 1.6-degree demand scenario, regional security of supply requirements and constrained projected growth of localized European production ● Initial testing program for Nidec underway On track to produce and validate fully automated cells during 4Q 2023 ● ● FREYR 3

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