FREYR Battery Announces the Appointments of Todd Kantor, Tore Ivar Slettemoen, and David Manners to the Board of Directors - Seite 3

FREYR also announced today that Jason Forcier and Mimi Berdal each notified the Board of their intentions not to stand for re-election as Board directors on April 14, 2024, and April 15, 2024, respectively. Mr. Forcier and Mrs. Berdal have subsequently resigned as Board directors effective immediately.

“On behalf of FREYR’s Board of Directors, I wish to thank Mimi and Jason for their valuable service to FREYR,” added Tom Einar Jensen, Co-Founder and Executive Chairperson. “Both Mimi and Jason brought deep industry and governance expertise to our Board, and we wish them all the best in their future endeavors.”

About FREYR Battery

FREYR Battery is a developer of clean, next-generation battery cell production capacity. The Company’s mission is to accelerate the decarbonization of global energy and transportation systems by producing clean, cost-competitive batteries. FREYR seeks to serve the primary markets of energy storage systems (“ESS”) and commercial mobility, and the Company maintains an ambition to serve the passenger electric vehicles market (“EV”). FREYR is operating its Customer Qualification Plant (“CQP”) for technology development in Mo I, Rana, Norway, and the Company is commencing development of the Giga America battery manufacturing project in Coweta County, Georgia, in the U.S. To learn more about FREYR, please visit www.freyrbattery.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to the Company’s operational performance and profitability. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results or achievements to be materially different from the Company’s expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, actions of activist stockholders and those discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “Form 10-K”) and the Company’s other filings with the SEC. Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.