Freyr Investor Day Presentation Deck

The energy transition has batteries included - everywhere 40 Gt CO₂ 78% FREYR Partly addressable by CCS Fully addressable by H₂ Partly addressable by H₂ Fully addressable by batteries Partly addressable by batteries Electrification + H₂ Electrification with batteries CCS Electrification with batteries Source: Rystad Energy research and analysis. Global greenhouse emissions by gas, 2018 Cement 6% Metals 1% Chemicals 2% Industry process 9% Industry combustion 15% Buildings 8% Electrification through batteries, H₂ fuel cells and/or zero carbon fuel Maritime 2% Aviation 2% Carbon dioxide (CO2) 74.0% Oil&gas produ 1% Coal production 1% Refining 4% LULUCF Energy 7% 6% Energy Power generation 38 Gt CO₂ Transportation 20% Road transport 15% Electrification + H₂ + CCS Power 34% Bio 1% Gas 5% Coal 27% www. www.m Oil 1% wwwwwwwwwwwww Electrification + batteries + long- duration energy storage Electrification through batteries Methane (CH4) 17.8% F-gases 3.1% Nitrous oxide (N20) 5.2% LO 5

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