Freyr Results Presentation Deck

Financial results Maintaining a strong liquidity profile while financing activities accelerate with CQP milestones Strong Liquidity and Balance Sheet • Ended 2Q 2023 with $384 million of cash • 2023 CapEx focused on CQP completion and Giga Arctic Giga America development costs and US team buildout ongoing Capital Allocation Priorities • CQP and Test Center ramp up, production of testable batteries, operational milestones - to secure binding offtakes and financing • Accelerate Giga America to capture US IRA PTCS Ready Giga Arctic for next phase of development ● FREYR's Strategic Approach to Capital Formation Strong interest from potential strategic, industrial and financial partners at project levels; discussions ongoing ● ● Engaging with relevant governmental entities to access financing solutions including direct loans, grants, and incentive packages Access debt as projects de-risk FREYR $600 $500 $400 $300 $200 $100 $0 Year-end 2022 FREY closing cash balance $563 FREYR YTD 2023 Cash Bridge Less: 2Q YTD operating cash flow ($35) Less: capex and other, net ($128) Less: FX and other, net Note: Cash includes cash, cash equivalents and restricted cash: amounts may not reconcile due to rounding. ($16) 2Q 2023 FREY closing cash balance $384 13

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