FREYR Battery Announces Plans for U.S. Gigafactory in Georgia - Seite 3

About FREYR Battery

FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce clean battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com

Cautionary Statement Concerning Forward-Looking Statements

All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding the development of the Giga America project and its ability to deliver an initial battery cell production module of approximately 24 GWh; FREYR’s ability to realize the benefits of additional value accretive upstream and downstream modules; any expected capital investments and jobs created from the development of Giga America; any potential tax benefits and incentives under the Inflation Reduction Act; any projected U.S. demand for FREYR’s products and battery technology generally; FREYR’s ability to realize the benefits of its financing efforts; any potential benefits and incentives provided by The State of Georgia, Coweta County, and the U.S. Department of Energy; the scale, expansion, and arrangements for any FREYR production facilities in the U.S.; any potential benefits and production capabilities of 24M’s SemiSolid platform; FREYR’s plans to initiate detailed project engineering of Giga America; the potential development of a dedicated solar plus storage facility at Giga America; FREYR’s ability to generate innovation, opportunities, and success in The State of Georgia and Coweta County; any benefits realized by locating Giga America in The State of Georgia and Coweta County; the projected storage capacity in the U.S. due to the passage of the Inflation Reduction Act and any forecasts related to battery storage deployments in the U.S.; and FREYR’s expectations to make meaningful investments to spur job creation and the eventual development of local, decarbonized supply chains in the U.S. are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.