Reference is made to the extraordinary general meeting held on 11 November 2020. The general meeting resolved to increase the Company's share capital by issuing 7,500,000 new shares in a new class of convertible preference shares against a total share contribution of USD 7,500,000 and the issuance of 92,500,000 warrants (as further described in our notice on 4 November 2020, the number of warrants which may be exercised shall be determined pursuant to the terms of the resolution and the remaining warrants shall lapse). The share capital increase and issuance of warrants was registered in the Business Registry on 17 December 2020. In addition, 859,463 common shares have been issued by conversion of a convertible loan. 
 
The Company’s share capital is NOK 2,144,869.62 divided on 206,987,962 common shares and 7,500,000 convertible preference shares, each with a nominal value of NOK 0.01. 

For further information, please contact:

CFO Steffen Føreid, steffen.foreid@freyrbattery.com


About FREYR AS
FREYR plans to develop 40+ GWh of battery cell production capacity by 2025 to position as one of Europe’s largest cell suppliers. The facilities are located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, marine and aviation applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the necessary expansion of the battery value chain in our region. For more information, go to www.freyrbattery.com.