FREYR AS and Alussa Energy Acquisition Corp. have named eight directors to be appointed to the Board of Directors (Board) for FREYR Battery, a newly formed company created for the proposed business combination between FREYR and Alussa Energy. The Board shall assume its position with effect from the closing of the business combination.

The Board will support FREYR Battery in its ambition to become one of the leading producers of clean batteries to accelerate the decarbonization of transportation and energy systems across the globe. The identified Directors represent a diverse set of experiences and backgrounds, all of whom believe in the mission of global decarbonization and development of sustainable energy solutions. The Board is carefully composed of business leaders from five different countries, including Norway, the United States, Hungary, Brazil and Argentina, providing the global perspectives that will guide FREYR Battery towards accomplishing its ambition of providing clean, efficient, low-carbon and low-cost battery cells.

The initial Board will comprise of the following Directors: Torstein Dale Sjøtveit, FREYR, is the Executive Chairman and Founder of FREYR and has held various prior executive management positions including, CEO of Malaysian State-owned utility company Sarawak Energy Berhad and as Executive Vice President with Norsk Hydro ASA responsible for the company's global upstream aluminum business. German Curá, Tenaris and Alussa Energy, is the Vice-chairman of the Board of Directors of Tenaris. He is also a member of the Board for the American Institute for Steel and Iron and Alussa Energy.

Daniel Barcelo, Alussa Energy, is the Founder of Alussa Energy and has spent 25 years in international energy finance and emerging markets. Jeremy Bezdek, Koch Industries, is the Managing Director of Koch Strategic Platforms (KSP) for Koch Industries Inc. He has been with Koch companies for over 25 years. Bezdek also serves on the board of Wildcat Discovery Technologies.

Olaug Svarva, DNB and Norfund, was the CEO of The Government Pension Fund Norway - Folketrygdfondet - from January 2006 to February 2018 and is currently the Chair of DNB ASA, Norway's largest financial institution, and Norfund, the Norwegian Investment Fund for developing countries. Mimi Berdal, EMGS and Goodtech, is an attorney, a self-employed corporate adviser, lecturer and investor which has had various board and professional assignments in private, public and listed companies. Berdal is the Chair of the Board of Electromagnetic Geoservices (EMGS) ASA, a marine geophysical company, and Goodtech ASA, a Norwegian automation, power and industrial engineering company.

Monica Tiúba, Tenaris, is an attorney and accountant with 20 years of professional experience within corporate law, M&A, tax litigation and international banking. Tiuba is a member of the board of directors and chair of the audit committee of Tenaris. Peter Matrai, FRYER and EDGE Global, is a director of FREYR and co-founder and managing partner at EDGE Global LLC, which offers scaling services to sustainability focused companies.