Freyr SPAC Presentation Deck

Alussa Energy Acquisition Corp. Overview International Energy and Capital Markets Expertise, FREYR Director Nominees Daniel Barcelo Chief Executive Officer, President & Director Portfolio Manager, Moore Capital Managing Director, Renaissance Capital ■ ■ ■ ■ Germán Curá Director ■ ■ CFO, Ruspetro plc, Russia Co-Founder, Director, CFO, Invicti Terra Argentina Ltd Encompass Capital, A Member of Our Sponsor ■ Todd Kantor Founder, Managing Member & Portfolio Manager 20 years of experience in global energy markets Portfolio Manager, Pioneer Path (Citadel LLC) Analyst; Touradji Capital, Solstice Equity Management, JP Morgan Global Oil & Gas Investment Banking ■ Board of Directors & Vice Chairman of the Board, Tenaris President & CEO, Maverick Tubulars President & CEO, Hydril ■ FREYR Clean battery solutions MOORE CAPITAL LEHMAN BROTHERS RUSPETRO Tenaris Maverick Tubulars ENCOMPASS CAPITAL Alussa Energy Acquisition Corp. Overview ■ I alussa energy ■ ■ ■ Alussa Energy Acquisition Corp. is a NYSE listed SPAC which completed its $287 million IPO in November 2019 Over 100 years of combined experience of starting and operating public companies globally Alussa Energy Due Diligence and Assessment Conducted on FREYR General corporate, legal, intellectual property, contract review, employment matters and benefits and capital structure due diligence conducted by Skadden Arps and Ellenoff Grossman & Schole Board members/management have operated companies in the US, Africa, Russia and the Middle East Encompass Capital Advisors LLC, a Member of our Sponsor, is a SEC registered investment advisor with a primary focus on investing across the energy eco-chain, including exploration and production, services, energy-related industrials, cyclicals, materials, alternative energy and renewables in the private and public markets Accounting and tax due diligence performed by Ernst & Young Environmental, governance and social communication strategy assessment performed by Sustainable Governance Partners Business due diligence and assessment performed by Alussa Energy and Rystad Energy 31

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