Freyr SPAC Presentation Deck

Phased Development from Balanced Partnership-Based Strategies Next Generation Technology Solution: Partnership with 24M Technologies to industrialize improved process technology Traditional Technology Solution: Joint venture partnership of proven OEM technology Target Market Verticals Target Offtake Customers Expected Strategic Advantages Relevant Targeted Partnerships FREYR Clean battery solutions I ■ ■ Utilities ■ Automotive OEMs ▪ Solar/Wind Developers Home Energy Storage Systems ■ ■ ■ ■ ■ ■ ■ Next Generation Technology Development Focus Energy Storage Systems Other Mobility (Marine, Commercial) All Electric Vehicles (EV, PHEV, XEV) ■ Chemistry-agnostic cell production process and platform Semi-solid electrode structurally reduces materials costs Higher energy density cells with improved safety and reliability Simpler production process lowers capex and opex requirements Lower footprint and increase capital efficiency unlocks modularity Less scrap, fully recyclable & increased in-plant reuse of active materials Flexible platform covers current next generation chemistry & cell design 24.m SIEMENS energy Scatec Solar Improving our future" T ITOCHU MAERSK ▪ All Electric Vehicles (EV, PHEV, XEV) Energy System Storage All other applications ■ ■ Traditional Technology Development Focus ▪ Automotive OEMs ■ Utilities H Significant, untapped market to leverage FREYR's competitive production platform ▪ Collaborate with OEMs for industrially scaled supply of traditional technology Considerable logistics advantages relative to Asian cell manufacturers Flexibility to host multiple-OEM partnerships with separate Gigafactories H Targeting OEM JV partners Source: 24M Technologies, Company data 26

View entire presentation