Freyr SPAC Presentation Deck

Projected Battery Cell Life Cycle Emissions Life cycle emissions kg CO₂e/kWh 80 70 60 50 40 30 20 10 Aiming to be the Lowest Carbon Battery Cell Producer in the World 0 FREYR 100 200 FREYR Clean battery solutions 300 400 500 600 700 FREYR China 800 North America Europe 900 1,000 1,100 Other Asia Other 1,200 Plant size, GWh FREYR expects to have the lowest emissions in the industry European & North American producers projected to lead on emissions globally Majority of production will remain located in Asia, primarily in China Source: Study commissioned from global management consultancy, Company estimate, press search 13

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