Freyr Results Presentation Deck

Deep market short for ESS solutions is likely to persist Global undersupply of LFP in a 1.6 DG demand, in 1.8 DG net import need exceeds export potential in 2030 Net LFP import need and export capacity by region: 1.6 and 1.8-degree demand scenarios GWh 1400 1200 1000 800 600 400 200 0 199 66 77 57 Europe United States FREYR China Rest of World 110 110 Import Export need capacity 2025 569 22 301 62 184 0 Import Export need capacity 2028 1.6 DG scenario 1236 294 621 68 253 0 Import Export need capacity 2030 1000 900 800 700 600 500 400 300 200 100 0 237 103 43 32 28 Import Export need capacity 2025 237 299 195 105 352 293 60 Import Export need capacity 2028 1.8 DG scenario 528 399 129 286 173 Sources: Rystad Energy research and analysis; BatteryCube 114 Import Export need capacity 2030 LFP undersupplied globally through 2030 In a 1.6-degree scenario. In 2025, Europe, United States and Rest of World are net importers, with China as the only exporting region. From 2028 and onwards, China is also dependent on increased production to meet demand. In the 1.8-degree demand scenario the expected Chinese and American oversupply of LFP cells will cover the global import need until 2028. In 2030 however, the import need is expected to exceed the export potential. The US becomes a net exporter of LFP in 2028 in 1.8 DG scenario. This is due to a strong uptick in expected production from the region. The differences between the two graphs shows that the supply- demand balances are considerably dependent on the demand development going forward. 1.7

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