Q-Free ASA - Director's Dealing 2014

Q-FREE - MANDATORY NOTIFICATION OF TRADE

Trondheim, Oslo 11 November 2014: Chairman of the board, Terje

Christoffersen has today purchased 25,000 QFR shares through his

ownership in Tell It AS at an average price of NOK 12. Christoffersen

owns indirectly through Tell It AS 45,072 shares in Q-Free ASA after the

transaction.

Board member, Jan Pihl Grimnes has today purchased 132,000 QFR shares

through his ownership in Redback AS at an average price of NOK 12.

Grimnes owns directly and indirectly through Redback AS 1,687,000 shares

in Q-Free ASA after the transaction.

CEO, Thomas Falck has today purchased 25,000 QFR shares through his

ownership in Sølen AS at an average price of NOK 12. Falck owns

indirectly through Sølen AS 63,483 shares in Q-Free ASA after the

transaction.

CFO, Roar Østbø has today purchased 10,000 QFR shares at an average

price of NOK 12. Østbø owns 100,000 shares in Q-Free ASA after the

transaction. Østbø holds 150,000 share options in Q-Free ASA.

VP Managed services, Frank Kjelsli has today purchased 3,000 shares in Q

-Free ASA at an average price of NOK 12. Kjelsli owns 10,000 shares in Q

-Free ASA after the transaction.

VP Nordic, Pål Rune Johansen has today purchased 5,000 shares in Q-Free

ASA at an average price of NOK 12. Johansen owns 5,000 shares in Q-Free

ASA after the transaction.

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