Einar Kilde - 08 Aug 2024 Form 3 Insider Report for FREYR Battery, Inc. /DE/ (TE)

Footnote F1

Consists of warrants transferred to the holder in 2021 from Alussa Energy Sponsor LLC, one of the parties to the merger of the issuer's predecessor entity. Each outstanding warrant became exercisable for one share of Common Stock at an exercise price of $11.50 within 60 days of July 9, 2021.

Footnote F2

Consists of compensatory options which vest annually over three years granted on January 29, 2021 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vested on January 29, 2022, one-third (1/3) vested on January 29, 2023, and one-third (1/3) vested on January 29, 2024. Options are typically forfeited when the employment relationship ends for employees.

Footnote F3

Consists of compensatory options which vest annually over three years granted on July 9, 2021 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vested on July 9, 2022, one-third (1/3) vested on July 9, 2023, and one-third (1/3) vested on July 9, 2024. Options are typically forfeited when the employment relationship ends for employees.

Footnote F4

Consists of compensatory options which vest annually over three years granted on September 1, 2021 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vested on September 1, 2022, one-third (1/3) vested on September 1, 2023, and one-third (1/3) vest on September 1, 2024 . Options are typically forfeited when the employment relationship ends for employees.

Footnote F5

Consists of compensatory options which vest annually over three years granted on June 9, 2022 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vested on June 9, 2023, one-third (1/3) vested on June 9, 2024, and one-third (1/3) vest on June 9, 2025. Options are typically forfeited when the employment relationship ends for employees.

Footnote F6

Consists of compensatory options which vest annually over three years granted on September 7, 2022 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vested on September 7, 2023, one-third (1/3) vest on September 7, 2024, and one-third (1/3) vest on September 7, 2025. Options are typically forfeited when the employment relationship ends for employees.

Footnote F7

Consists of compensatory options which vest annually over three years granted on May 22, 2023 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vested on May 22, 2024, one-third (1/3) vest on May 22, 2025, and one-third (1/3) vest on May 22, 2026. Options are typically forfeited when the employment relationship ends for employees.

Footnote F8

Consists of compensatory options which vest annually over three years granted on January 15, 2024 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vest on January 15, 2025, one-third (1/3) vest on January 15, 2026, and one-third (1/3) vest on January 15, 2027. Options are typically forfeited when the employment relationship ends for employees.

Footnote F9

Consists of compensatory options which vest annually over three years granted on March 15, 2024 pursuant to the FREYR 2021 Equity Incentive Plan (amended and restated as of April 22, 2024). Of the shares subject to compensatory options, one-third (1/3) vest on March 15, 2025, one-third (1/3) vest on March 15, 2026, and one-third (1/3) vest on March 15, 2027. Options are typically forfeited when the employment relationship ends for employees.