Freyr Results Presentation Deck

FINANCIAL RESULTS Preserving liquidity, extending the runway and ensuring optionality and financial discipline Ended 3Q 2023 with $328 million of cash, and no debt ~$35-40 million in Q4 to complete and secure initial buildings of Giga Arctic and for continued progress on the CQP & Test Center No material new 2024 CapEx deployed until additional funding secured Cutting costs and prioritizing resources; targeting reduction of 2024 cash uses by more than half vs 2023; extending liquidity to more than two years without any new project financing 3Q and 9 MO. Financial Results ($ in millions) G&A R&D Total Opex Warrant Liab. FV Adjustment Other income (exp.) Net Income (Loss) Per Share CF from Operating CF from Investing CF from Financing/FX Net Change in Cash Ending Period Cash FREYR 3Q 2023 $28 7 35 24 1 (10) ($0.07) (19) (37) 0 (56) $328 9 Months Ended 3Q 2023 $85 18 104 23 33 (48) ($0.34) (54) (168) (13) (235) $328 $600 $500 $400 $300 $200 $100 $0 FREYR YTD 2023 Cash Bridge Year-end 2022 FREY closing cash balance $563 Less: 3Q YTD operating cash flow ($54) Less: 3Q YTD capex and other, net ($168) Less: FX and other, net ($14) Note: Cash includes cash, cash equivalents and restricted cash: amounts may not reconcile due to rounding. 3Q 2023 FREY closing cash balance $328 11

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