Freyr SPAC Presentation Deck

FREYR Target Total Addressable Market: 97% of Global Battery Market by 2030 FREYR Total Addressable Market GWh installed / year EU/USA China and ROW Other Mobility Energy Storage System Electric Vehicles Total 46 GWh 2020 Total 727 GWh 2025 Total ~5,150 GWh FREYR Clean battery solutions ~690 ~590 ~3,870 2030 ~2,060 ~3,090 2030 % of End Market ~33%/ 100%/ 100% 100%/ 100%/ 100% ~10%/ ~50%/ 100% XX% Segments Other Mobility 1) 2) Energy Storage System (ESS) 1) Including assumption for an accelerated lead-acid to Li-ion migration 2020-30 and increased adoption of ESS system with a lower cost offering similar to FREYR 2) FREYR technology roadmap begins addressing parts of EV segment from 2023, fully addressable by 2030 1) Electric Vehicles ¹) 2) Initial Targeted Strategic Partnerships SIEMENS energy Scatec Solar Improving our future" Addressable Share of Total Segment Market (2020/2025 / 2030), FREYR's Addressable Market (high-level assessment) MAERSK T ITOCHU Targeting OEM Partners Source: Study commissioned from global management consultancy 19

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