FREYR Battery Announces Appointments of Dan Steingart and Jason Forcier to Board of Directors - Seite 2

“Jason’s experience leading and establishing manufacturing operations in the lithium-ion battery and other industries will be invaluable to FREYR as we commence production in Norway and the U.S.,” remarked Sjøtveit. “We are delighted to welcome Jason and his unique skill set to our Board of Directors, and we look forward to his contributions as we establish giga scale production of clean, next-generation batteries.”

Mr. Forcier’s appointment to the Board of Directors coincided with Jon Christian Thaulow notifying FREYR’s Board of Directors of his intention to tender his resignation as a director of the Company effective December 21, 2022.

As announced by the Company on December 23, 2022, Jeremy Bezdek joined FREYR as the Company’s Executive Vice President of Global Corporate Development and President of FREYR Battery U.S. Mr. Bezdek joined FREYR from his prior position of Managing Director, Strategic Platforms at Koch Industries. Prior to joining FREYR, Mr. Bezdek spent over 26 years with Koch Industries companies in a variety of executive and leadership roles. On January 8, 2023, he notified FREYR’s Board of Directors that he will be tendering his resignation as a director of the Company and as a member and chairperson of its Compensation Committee as he assumes his new responsibilities at FREYR.

In addition, to fill the vacancy on the Compensation Committee created by Mr. Bezdek’s resignation, the Board appointed Jason Forcier, an existing independent director of the Company, as a member of the committee effective January 9, 2023. The Board also appointed Mimi Berdal, a current director on the Board and a member of the Compensation Committee, as chairperson of the committee, effective January 9, 2023.

“On behalf of the FREYR Board of Directors - Peter Matrai, Olaug Svarva, Mimi Berdal, Daniel Barcelo, and Monica Tiúba, we thank Jon Christian and Jeremy for their enormous contributions to the Company during a pivotal stage in FREYR’s journey,” added Sjøtveit. “Their counsel and dedication have been instrumental to FREYR’s commercial and industrial development, and we are grateful for the privilege it has been to serve with them.”

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 green 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