Amsterdam, 31 January 202 3  AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announces its wholly owned subsidiary, AMG Lithium GmbH ("AMG Lithium"), has signed a non-binding memorandum of understanding ("MOU") with FREYR Battery (NYSE: FREY) ("FREYR"), a developer of clean, next-generation battery cell production capacity. The basis of the MOU is for AMG Lithium to supply FREYR between 3,000 to 5,000 tons per annum of battery-grade lithium hydroxide. The agreement between AMG Lithium and FREYR further lays out deepening the understanding of the technical requirements and future needs of both parties.