Q-Free ASA - Capital/Financing Update 2021

Q-Free: Traffic Management contract in the US - ~90 MNOK

Q-Free has signed a contract with a US customer to provide a new statewide

advanced traffic management solution (ATMS). The delivery will include Q-Free's

OpenTMS software platform plus Traveler Information and Video Management

solutions provided by partners.

Over the potential 10-year contract term, the total estimated contract value is

close to 90 MNOK. The initial delivery accounts for approximately 20% of the

value and will be delivered in September this year. Recurring Operations &

Maintenance revenues account for the remaining 80%. There will also be

opportunities for additional work related to development of new features and

functionality.

- Over the past couple of years Q-Free has worked hard to convert parts of its

ATMS business to a competitive Software as a Service (SaaS) model. With this

contract we add another key account to our growing list of customers generating

sizeable recurring software revenues. Moreover, the rapid deployment of the

solution demonstrates the scalability of our ATMS platform, comments Håkon

Volldal, President & CEO of Q-Free.

For further information, please contact:

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

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

1 billion NOK and employs approximately 380 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

AI assistant