Freyr SPAC Presentation Deck

FREYR Advantage: Targeting 81% Lower CO₂e Emissions Targeted FREYR CO₂e Footprint Reduction Global Average 1 -31% 2 FREYR Clean battery solutions -19% 1) Global battery industry average for 2020 2) Estimated medium-term benefits from localized Supply Chain 3 -19% 4 -13% 81% CO₂e Reduction 3) Company estimate 19% FREYR Target Global Battery Industry CO₂e Baseline ¹): 1 FREYR 'net zero' cell production 2 3 Active material production in Norway/Nordics 2) Building a Nordic ecosystem of additional supply 2) 4 Packaging and recycling 2) FREYR Target CO₂e Emissions Level 3): Emissions kg CO₂/kWh ~80 (~25) (~15) (~15) (~10) = ~15 Source: Study commissioned from global management consultancy 12

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