Q-Free ASA — M&A Activity 2021

Feb 12, 2021

Q-Free: Final results of mandatory offer to acquire all shares in Q-Free ASA

Q-Free: Final results of mandatory offer to acquire all shares in Q-Free ASA

(Oslo, 12 February 2021): Reference is made to the mandatory offer (the "Offer")

from Rieber & Søn AS (the "Offeror") to acquire all shares in Q-Free ASA ("Q

-Free" or the "Company") pursuant to an offer document dated 14 January 2021

(the "Offer Document"). The acceptance period in the Offer expired today, 12

February 2021, at 16:30 (CET).

On 12 February 2021, the Offeror received acceptances for 9,531 shares,

corresponding to 0.0088% of the share capital and voting rights in the Company.

In total, the Offeror had at the time of expiry of the acceptance period in

Offer received acceptances for a total of 103,670 shares and votes in Q-Free. In

addition, the Offeror owns a total of 50,258,397 shares in the Company,

representing 46.44% of the shares and votes in the Company. Following completion

of the Offer the Offeror will hold 50,362,067 shares in the Company

corresponding to 46.54% of the shares and voting rights. The foregoing

percentages have been calculated based on 108,216,534 issued shares in Q-Free

ASA. The number of acceptances received in the Offer may change based on final

counting.

In accordance with section 4.11 ("Settlement") of the Offer Document, settlement

of the Offer will be made in NOK as soon as reasonably possible and no later

than two weeks after the expiry of the acceptance period in the Offer, being 26

February 2021.

The Offeror is represented on the Board of Directors of Q-Free and is therefore

considered a primary insider of the Company.

This notification has been submitted pursuant to the Securities Trading Act

section 4-2.