Freyr Results Presentation Deck

Government support for Giga Arctic EU grant secured with formalization of Norwegian support package expected to follow By Capas Day 2 B W European Commission NORWAY lan Christian Vestre Minister of Trade and Industry NORGE congratulations on producing your first ever battery cells. FREYR NOREG w X NOREG NORGE EU Innovation Fund grant ✓ FREYR announced a € 100 million grant award from the EU Innovation Fund ("EUIF") on July 17th ✓ The grant is expected be funded during the construction period of Giga Arctic and once operational through GHG avoidance ✓ Recognition of the geostrategic and climate-related importance of establishing localized, decarbonized battery value chains in European Economic Area Update on anticipated IRA response from Norwegian Government On June 30th, representatives from the Norwegian Government highlighted support for local battery value chain development as part of next phase of Norway's Green Industrial Initiative Announcement followed Minister of Trade and Industry Jan Christian Vestre's appearance at FREYR's Capital Markets Day Constructive and cooperative dialogue ongoing between FREYR and Minister's office FREYR is working together with Norwegian Governmental institutions to formalize an incentive package for Giga Arctic Ratification of support package anticipated in concert with State Budget Announcement in October 2023 ● ● ● ● Recognition of Giga Arctic's strategic value proposition as future regional hub of decarbonized battery production 6

View entire presentation