Freyr Investor Day Presentation Deck
IRA incentives ā significant and simple
US IRA is a game-changer for the battery manufacturing industry
Section 45X is the most impactful to FREYR
Raw materials can come from anywhere,
batteries and modules must be produced in the
US, and product can be sold anywhere
Annual Production Tax Credits are transferable
(saleable), and cash payments can be received
for 5 years directly from the IRS ("direct-pay
option")
Based on Giga America's planned 38 GWh
nameplate capacity and operating plan after full
ramp-up, FREYR would generate >$1.4 billion
per year in additional cash flow from IRA
incentives for battery cell and module production
FREYR
United States
Inflation Reduction Act
$35/kWh
Battery cell production tax credit
$10/kWh
[=O=
ā Giga America
Battery module production tax credit
10%
Separate tax credits for critical materials and
active cathode / anode materials
FREYR customers can claim 30%+ ITC on
stand-alone BESS projects
24m 24M brings U.S.-based technology
Leveraging the Norwegian Industrial heritage
Direct pay
option through
2032
Growth in key demand center amplified by IRA
~$410 million gross financial incentive package from State of
Georgia and Coweta County for Giga America
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