Freyr Results Presentation Deck

WELL- POSITIONED FOR CURRENT ENVIRONMENT FREYR has liquidity, real options, and a flexible plan FREYR PROTECTING THE BALANCE SHEET AND LIQUIDITY RUNWAY Targeting total cash spend in 2024 of less than half that of 2023, prioritizing the CQP and Giga America Material incremental CapEx only deployed when new project-level funding is committed Built-in liquidity flexibility to invest in focused R&D and technology investments to enhance the projects Intending to extend cash runway to two + years before any new financing PURSUING NON-DILUTIVE GROWTH CAPITAL TO FUND KEY INITIATIVES Liquidity position and lower burn rate intended to eliminate any need to raise common equity from our shareholder base Focused on closing Giga America project equity raise, DOE Title XVII loan process, and grant applications MAXIMIZING VALUE OF PROJECT DEVELOPMENT OPPORTUNITIES Giga America development prioritized based on superior projected economic returns driven by eligibility for IRA incentives, especially Section 45X Production Tax Credits Evaluating partnership-based Cathode Active Material factory project and other initiatives based on strategic value and business case Preserving Giga Arctic optionality with EUIF grant and continued efforts to establish competitive framework conditions Leverage and grow industrial partnerships where possible; continue discussions with potential conventional technology partners

View entire presentation