A European tolling operator has awarded Q-Free a contract to design, deliver and maintain tolling roadside equipment. It is mainly structured as a service delivery and will generate annual recurring revenues of 8 MNOK over an expected period of 15 years. System deliveries will start in 2022 and be completed in 2023.

The customer has for operational reasons requested to remain anonymous until the project delivery will commence, hence more details about the project will be provided at a later point in time.

-This represents a key win for Q-Free in a very important market. It further increases our recurring revenue base in Tolling and demonstrates the added benefits to both operator and system provider of a long-term service model for our leading multi-lane free-flow solution, says President & CEO in Q-Free ASA, Håkon Volldal.

For further information, please contact:

Håkon Volldal, President & CEO, +47 977 19 973

Trond Christensen, CFO, +47 481 02 754

This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rita Bøe Isaksen, Board Secretary in Q-Free ASA, on 1 February 2022 at 08:00 CET.

About Q-Free:

Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society.

Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 900 million NOK (100 MUSD) and employs approximately 350 transportation innovators, experts, and enthusiasts. To learn more about how Q-Free is “changing the movements of life”, visit www.q-free.com or Twitter:@Q-FreeASA