Q2 2021

Earnings call

August 12, 2021

Important notices

Forward looking statements

The information in this presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, including, without limitation, regarding the development, timeline, capacity and other usefulness of FREYR's CQP and planned Gigafactories; progress to complete CQP equipment tenders and progress of tendering for the subsequent Gigafactories; progress and development of customer offtake agreements and supply chain partnerships; the development and growth of FREYR's

target markets; the scale and arrangements for any FREYR production facilities in North America; the progress and development of FREYR's partnerships and plans in Finland; the development and commercialization of 24M SemiSolid technology; FREYR's manufacturing capacity relative to other market participants; and the development of customer and supplier relationships are forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside FREYR's control and are difficult to predict.

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Additional information about factors that could materially affect FREYR is set forth under the "Risk Factors" section in FREYR's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 9,

2021, as amended, and available on the SEC's website at www.sec.gov.

Except as otherwise required by applicable law, FREYR disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.

.

Today's Agenda

  • Highlights
  • Market and operational update
  • Financials
  • Concluding remarks
  • Q&A

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Building a Global Champion in Clean, Next-Generation Battery Solutions

Speed

Scale

Sustainability

Capitalizing on projected supply shortfall as electrification accelerates

Working to maximize speed to market of low-cost,low-carbon battery cells

Targeting major addressable markets for electrification Planning construction of ~43 GWh of capacity by 2025

Localizing supply chain based on low-cost renewable energy Partnership-based approach for decarbonized low-cost RM supply

83 GWh total

capacity

43 GWh

Strategic

capacity

options(1)

Mo i Rana/Nordic

Region

2018

Established with clear strategic tenets of Speed, Scale and Sustainability

4

2019-2021

2021-2022

2022-2025

2025 ->

Attracting seasoned leadership

Building execution platform

Customer Qualification Plant and 43

Establish localized, decarbonized

Equity funding of growth strategy

Securing strategic offtake

GWh operational

supply chains established

Technology partnership

Securing debt financing

International expansion

FID Gigafactories 1-2

(1) lncludes potential joint ventures and other partnerships in multiple geographic regions by 2028.

Focused on Executing Business Plan

Ramping up

Building operational

Optimizing for value

commercialization activities

foundation

FREYR's decarbonized solution gaining customer traction

Advancing discussions with multiple potential ESS and EV customers

Expanding sales and marketing team to accelerate dialogues

Customer Qualification Plant FID is critical milestone to commercialization

Expanding supply and battery value chains across the Nordic region

Growing team focused on project execution and operational excellence

High-grading customer portfolio to unlock FID for potential phased development of Gigafactories 1-2

Enhancing Gigafactory configuration and establishing commercial structures to mitigate cost increase

Committed to capital efficiency and shareholder value creation

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FREYR Battery SA published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 10:10:45 UTC.