Q-Free ASA — M&A Activity 2015

May 4, 2015

Q-Free - Acquiring Parking Management Solutions Company

Q-Free - Acquiring Parking Management Solutions Company

Trondheim/Oslo 4 May 2015: Q-Free ASA has signed an agreement to acquire the

activity in the Maltese parking management solutions company Traffiko for EUR 1

million. The transaction includes an earn-out clause with potential pay out

maximised to additional EUR 1 million. Closing of this transaction is expected

to happen during the second quarter in 2015.

-We are happy to include Traffiko to our portfolio. Through this transaction

within parking management solutions, we are now able to deliver a complete range

of solutions within this fast growing segment, says CEO Thomas Falck in Q-Free.

Traffiko has been a long-term partner to Q-Free for deliveries of a vital part

of our parking management system in previous projects. This includes the newly

announced APCOA-contract, for instalments of parking management systems to the

parking garages at the Stockholm Globe Arena.

Traffiko is an intelligent transportation solutions company providing a wide

range of advanced traffic applications including secure cloud hosted web-based

applications for car park management, journey time analysis, on-street and off

-street traffic related enforcement, access control, tracking, video analytics,

traffic scene analysis, and revenue management, based on an integrated

platform.

-We are very enthusiastic about the opportunity to become part of a large

international operation with a global network. The additional market exposure

and availability of resources will contribute to further expansion of our

business together with the rest of the Q-Free family, says Angelo Dalli, CEO of

Traffiko.

Traffiko was established in 2006 and maintains operations in Malta with customer

references in Europe, North America, the Middle East and Australia with more

than 650,000 active user accounts. In 2014, Traffiko generated revenues of some

NOK 4 million. The company currently has five employees and will be embarking on

a recruitment drive during 2015 to scale up further.

For further information, please contact:

CEO Thomas Falck: +47 468 00 767

CFO Roar Østbø: +47 932 45 175

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

more than 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