On August 1, 2022, the Board of Directors of FREYR Battery appointed Jon Christian Thaulow as an independent director of the Company, effective immediately. Mr. Thaulow is a partner at BAHR AS and is the head of BAHR AS's practice group for Environment & Energy. He advises energy sector clients, providing expertise in relation to power, renewable energy, infrastructure, as well as oil and gas.

He has extensive experience with company law and corporate governance, M&A, regulatory issues relating to the energy sector, contentious matters and anti-corruption issues. He regularly advises several leading energy groups and investors in Norway and internationally. The Board believes Mr. Thaulow is qualified to serve on the Company's Board due to his extensive legal experience in the energy sector.

As previously announced by the Company in a Current Report on Form 8-K filed on June 13, 2022, Mr. German Curá had notified the Board that he will be tendering his resignation, which was expected to be effective August 1, 2022. By a resolution of the Board, his resignation became effective on August 1, 2022. In addition, to fill the vacancy on the Nominating and Corporate Governance Committee (the “Committee”) created by Mr. Curá's resignation, the Board appointed Ms. Mimi Berdal, an existing independent director of the Company, as a member of the Committee effective August 1, 2022.

The Board also appointed Ms. Olaug Svarva, a current director on the Board and a member of the Committee, as chairperson of the Committee, effective August 1, 2022.