Freyr Results Presentation Deck

GIGA AMERICA UPDATE Timing of project development driven by CQP and Financing PROJECT EQUITY FINANCING CQP performance will drive customer acceptance of 24M platform • Customer acceptance unlocks financing (project equity and debt) Financing timing expected to follow automated production of testable, in-spec sample cells ● PROJECT DEVELOPMENT PLAN The value of the previously announced Phase 1a development is minimized by the revised CQP timeline FREYR is updating options to maximize project economics and access to capital to drive the start of production as early as possible in Georgia Continuing to pursue two tracks in parallel to align timing of multiple financing options including the DOE process and a project-level equity raise Giga America site can comfortably accommodate both Track 1 and Track 2 projects ● ● ● TRACK 1 Multi-line 24M scaled technology with potential FID in 2024 FREYR TRACK 2 Conventional technology with pot tial FID in 2024 (intended to provide alternative to accelerate SOP timing) 9

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