Freyr SPAC Presentation Deck

Emerging European Battery Supply Chain Facilitates Full-Cycle Sustainability Map of Energy Critical Elements: Cobalt, Lithium, Graphite Europe Preliminary Result, May 2019 FREYR's Aspirational Goal: Full-Cycle Sustainability Supportive Norway Battery Ecosystem Raw-Material Providers Glencore Elkem MRC ■ Tiotech Hydro FREYR Mo i Rana, Norway Project development FREYR Oslo, Norway Headquarters ESS Providers Solar & Marine FREYR Clean battery solutions ■ I Siemens Corvus ZEM ■ Kongsberg Scatec Solar Research Organizations NTNU SINTEF IFE UiO Energy critical elements ● Co. Deposit (196) ◆ Co. Prospect (38) ☐ Co. Occurence (243) O Graphite. Deposit (76) > Graphite. Prospect (33) □ Graphite. Occurence (400) O Li. Deposit (66) Li. Prospect (51) Li. Occurence (71) Active mines Co (3) Graphite (4) Li (10) 80 000 Responsible sourcing of raw materials → Improved labor conditions Low water stress & enhanced biodiversity Reduced toxic emissions & waste Development across all aspects of the emerging European battery supply chain, from raw materials to recycling Sources: Battery Norway, FRAME, Company data 14

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