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Q-FREE – SYNTHETIC OPTIONS GRANTS

CFO, Roar Østbø, has been granted 150,000 synthetic options. Østbø holds 108,000 shares in Q-Free ASA in addition to the synthetic options.

VP RUC, Marianne Sandal, has been granted 100,000 synthetic options. Sandal holds 42,000 shares in Q-Free ASA in addition to the synthetic options.

VP ATMS and Acting VP NA, Morten Andersson, has been granted 100,000 synthetic options. Andersson holds 7,700 shares in Q-Free ASA in addition to the synthetic options.

VP MS, Frank Kjelsli, has been granted 70,000 synthetic options. Kjelsli holds 15,000 shares in Q-Free ASA in addition to the synthetic options.

VP Nordic, Pål Rune Johansen, has been granted 70,000 synthetic options. Johansen holds 7,500 shares in Q-Free ASA in addition to the synthetic options.

VP ELA, Pedro Bento, has been granted 70,000 synthetic options. Bento has no shares in Q-Free ASA.

VP APMEA, Per Fredrik Ecker, has been granted 70,000 synthetic options. Ecker holds 23,500 shares in Q-Free ASA in addition to the synthetic options.

CTO, Jos Nijhuis, has been granted 60,000 synthetic options. Nijhuis holds 525,552 shares in Q-Free ASA in addition to the synthetic options.

CSO, Henrik Stoltenberg, has been granted 60,000 synthetic options. Stoltenberg holds 14,500 shares in Q-Free ASA in addition to the synthetic options.

VP Human Resources, Stein-Tore Nybrodahl, has been granted 40,000 synthetic options. Nybrodahl holds 27,000 shares in Q-Free ASA in addition to the synthetic options.

Executive Administration Manager, Rita Bøe Isaksen, has been granted 40,000 synthetic options. Isaksen holds 500 shares in Q-Free ASA in addition to the synthetic options.

The strike-price for the synthetic options is NOK 13.07. The options are exercisable for each of the option holders with 1/3 of the holder’s total granted options, within 30 days after presentation of respectively Q4-2016, Q4-2017 and Q4-2018.

For further information please contact:

CEO Thomas Falck, cell +47 468 00 767

About Q-Free

Q-Free is a leading global supplier of products and solutions within Road User Charging and Advanced Transportation Management Systems. The Q-Free Group has approximately 400 employees with offices in 19 countries and presence on all continents. The Q-Free head office is in Trondheim, Norway. Q-Free is listed on Oslo Stock Exchange under the ticker QFR.

www.q-free.com

Twitter: @Q-FreeASA