Q-Free ASA — M&A Activity 2022

Dec 22, 2022

Q-Free: Acceptances received under mandatory offer to acquire all shares in Q-Free ASA

Q-Free: Acceptances received under mandatory offer to acquire all shares in Q-Free ASA

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") at an

offer price of NOK 6.20 per share pursuant to an offer document dated 24

November 2022. On 22 December 2022, the Offeror has received acceptances under

the Offer for 609,826 shares.

Following these acceptances, the Offeror has received acceptances for a total of

3,869,344 shares and votes in Q-Free. In addition, the Offeror owns a total of

56,069,283 shares in the Company. The Offeror accordingly has an aggregate

holding of 59,938,627 shares and rights to shares in Q-Free, equal to

approximately 53,88% of the total number of 111,244,416 issued shares in the

Company.

In addition to the above, the Offeror has observed from stock exchange

announcement on 21 December 2022 that Arctic Asset Management AS has accepted

the Offeror a total of 9,384,391 shares, however this acceptance has not yet

been received by DNB as receiving agent, and accordingly has not been reflected

in the above numbers.

The Offeror is a close associate of Trond Valvik, Chair of the board in Q-Free.

Please see attached notification form in accordance with the Market Abuse

Regulation article 19.

This notification has been submitted pursuant to the Securities Trading Act

section 5-12.