Q-Free ASA — M&A Activity 2020

Jul 20, 2020

TOLLING CONTRACT IN PORTUGAL - 130 MNOK

TOLLING CONTRACT IN PORTUGAL - 130 MNOK

Q-Free has been awarded a 130 MNOK contract to upgrade Ascendi's Multi-Lane Free

-Flow (MLFF) tolling system in Portugal. The system consists of almost 100

charging points that were initially installed by Q-Free in 2009 and 2011. Under

the new contract, Q-Free will replace all key roadside modules such as DSRC

transceivers, camera systems, lane controllers etc. with new and upgraded

solutions. Deliveries will start in 2020 and be completed in the first part of

- It is a great honor for Q-Free to be chosen by Ascendi to upgrade their

roadside system. In sum it means that we have met expectations related to

performance of the old system and that we in recent years have managed to

innovate and update our offering to now make it attractive for the customer to

upgrade. We look forward to continuing our close cooperation and partnership

with Ascendi and ensuring that they will have one of the most effective and

efficient electronic toll collection systems in the world, says 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 is a leading global provider of Tolling and Traffic Management (ATMS)

solutions for efficient, safe, and environmentally friendly transportation. The

company has approximately 1 bn NOK in revenues, 380 employees, offices in 16

countries, and a presence on all continents. Headquartered in Trondheim, Norway,

Q-Free is listed on the Oslo Stock Exchange under the ticker QFR.

www.q-free.com

Twitter:@Q-FreeASA