Freyr Investor Day Presentation Deck

Summarizing key takeaways Focused on operational execution, capital formation and converting commercial opportunities FREYR has assembled and charged its first battery cells at the Customer Qualification Plant (CQP) • The CQP provides a unique operating platform in the western hemisphere to accelerate commercial progress and capital formation • Achieved first significant post-opening milestone less than two years after taking the Final Investment Decision on the CQP • 85% of testing has been completed enabling ramp-up of sample cell production for customers in 2H-2023 Norway's support package for the battery industry expected later this week could unlock continued development of Giga Arctic The Norwegian Government will announce the framework conditions and financial incentives for the battery industry later this week • Such incentives could allow FREYR to move forward with a 2+6 production line concept targeting SOP in 1H-2025 FREYR's farm-down process for Giga America is progressing with initial book-building from strategic partners > 10 strategic/industrial partners are in the data room evaluating the opportunity with 5 initial indications of participation ● > 20 financial institutions have recently joined the process to facilitate competitive anticipated closing in 3Q 2023 and targeting SOP in 1H-2025 FREYR has signed additional partnerships to increase TAM through complementary technology diversification • Heads of Terms signed with Sunwoda, a tier 1 conventional battery producer, providing diversification opportunities including NMC solutions for EV applications Energy Transition Acceleration Coalition continues to gain momentum with a Vehicle OEM set to announce participation within weeks The ETAC steering committee has identified multiple workstreams that will create commercial opportunities for the partners FREYR's customer sales pipeline continues to expand rapidly across applications • ESS: engaged in more than 60 active dialogues across the energy storage landscape with demand requirements exceeding 350 GWh through 2030 E-Mobility: engaged in 10+ dialogues for overnight charge applications with demand requirements exceeding 250 GWh through 2030 EV pipeline to accelerate through technology diversification in the short term combined with optimized EV solutions based on 24M for the medium-term Unveiling FREYR's production plan and milestone road map for H2 2023 • Focused on achieving key production and technology milestones to accelerate financing and commercial objectives • Provide visibility into FREYR's scale up journey on the SemiSolid™ platform FREYR ● ● ● 28

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