Freyr SPAC Presentation Deck

■ Europe Battery Production Capacity, 2030e 21 companies expected to hold battery production capacity in eight European countries Largest capacities in Norway, Germany and Poland Nordic region emerging as the most advanced battery production corridor in Europe FREYR's ambition to lead Norway into a market capacity leading position Europe battery cell manufacturing targeted 2030 capacity ¹) GWh FREYR Clean battery solutions Plant size (GWh): 1 10 1) Figures represent current targeted capacity expected to be achieved by 2030 20 30 100 AESC Sunderland AMTE/Britishvolt FREYR SAFT/PSA Opel France SAFT pilot Northvolt/Volkswagen CATL Varta SAFT/PSA Opel Germany Morrow Batteries Liacon Farasis BMZ Microvast Tesla Leclanche SK innovation 1 Northvolt LG Chem inoBat GS Yuasa Samsung SK innovation 2 New players reshaping the Nordic region as the market leading battery corridor in Europe, producing technologically advanced battery solutions using 100% renewable energy starting in 2021 Norway Germany France Hungary Poland Slovakia Sweden United Kingdom Source: Rystad Energy, Company analysis 43

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