FREYR Battery Announces ‘Chapter One’ Opening Event at Customer Qualification Plant in Mo i Rana, Norway

NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)-- FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, has announced that the Company will host its ‘Chapter One’ opening event at the Customer Qualification Plant (“CQP”) in Mo i Rana, Norway, on March 28^th, 2023.

“The Chapter One opening ceremony at the CQP is a major milestone for FREYR which inaugurates the global launch of one industrial scale production line of the 24M Technologies (“24M”) SemiSolid^TM production platform at GWh scale. We look forward to welcoming our customers, suppliers, and local and regional officials to Mo i Rana on the 28^th. Additionally, we are planning an investor-focused event at the CQP this summer to demonstrate automated production of clean, next-generation batteries with this ground-breaking technology,” commented FREYR’s Co-founder and Chief Executive Officer, Tom Einar Jensen.

The Chapter One event, which will feature short presentations from FREYR team members and remarks from other key stakeholders, will start at 1:30 pm Central European Time (7:30 am Eastern Daylight Time). A webcast of the prepared remarks will be webcast simultaneously at: https://freyrchapterone.com/ on a listen only basis.

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

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Investor contact:

Jeffrey Spittel

Vice President, Investor Relations

jeffrey.spittel@freyrbattery.com

Tel: (+1) 281-222-0161

Media contact:

Katrin Berntsen

Vice President, Communication and Public Affairs

katrin.berntsen@freyrbattery.com

Tel: (+47) 9920 54 570

Source: FREYR Battery