FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”), a developer of clean, next-generation battery cell production capacity, today filed its 2022 Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Form 10-K") with the U.S. Securities and Exchange Commission (“SEC”), which can be downloaded from the SEC's website (http://www.sec.gov). Our 2022 Form 10-K is also available on our corporate website (https://ir.freyrbattery.com/Financials/sec-filings/default.aspx). Hard copies of our complete 2022 Form 10-K, which includes our audited financial statements, can be ordered, free of charge, by contacting the Company.

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 the U.S. and Vaasa, Finland. FREYR intends to deliver a minimum of 50 GWh of battery cell capacity by 2025, over 100 GWh of annual capacity by 2028, and over 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com.

Investor contact: Jeffrey Spittel Vice President, Investor Relations jeffrey.spittel@freyrbattery.com Tel: (+1) 281-222-0161

Media contact: Katrin Berntsen Vice President, Communication katrin.berntsen@freyrbattery.com Tel: (+47) 920 54 570

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