Freyr Results Presentation Deck

REVISITING THE FREYR INVESTMENT CASE The balance sheet, team, and strategy to build a global battery technology industrialization engine DIFFERENTIATED COMPETITIVE POSITION AND ATTRACTIVE END MARKET EXPOSURE FREYR is uniquely positioned as a U.S.-listed, debt free, pure play battery technology development and scaling company FREYR is focused on large and growing addressable battery market opportunities for ESS and E-mobility applications Implementing a plan to develop 24M and conventional technology in parallel to unlock new opportunities FREYR $ WESTERN BATTERY DEVELOPMENT IS ESSENTIAL TO ENERGY TRANSITION & SECURITY Ongoing decarbonization of global power and transportation markets requires 115 TWh of incremental battery supply¹ Recently announced Chinese graphite export restrictions and unstable geopolitical climate underscore need to establish Western supply chains ¹ Tesla 2023 Analyst Day Presentation. ROBUST BALANCE SHEET AND LIQUIDITY No debt and two+ years of projected liquidity without any new project-level financing Advancing several capital formation initiatives in parallel (Giga America project equity, DOE programs, EUIF grant, Norwegian IRA response framework) COMMITTED TO MAXIMIZING U.S. INFLATION REDUCTION ACT (IRA) BENEFITS Re-scoped Giga America project in two parallel tracks to optimize economics, scale, capital access, and technology development Financing processes ongoing with DOE and potential project equity sponsors to source Giga America development capital REAL OPTION VALUE IN A VOLATILE ENVIRONMENT Executing plan to diversify on technology spectrum and battery value chain Exploring conventional partnership opportunities to complement scale up of 24M platform Evaluating expansion into LFP cathode production 3

View entire presentation