HÅKON VOLLDAL APPOINTED CEO IN Q-FREE ASA

Trondheim, Norway, 21 April 2016;

We are very pleased to announce that Håkon Volldal is employed as new Chief Executive Officer in Q-Free ASA. Volldal will start in his position in Q-Free ASA on 1 August 2016.

Håkon Volldal, a Norwegian citizen, has held several senior positions in TOMRA, where he has been employed since 2004. Currently Volldal holds the position as Executive Vice President and Head of business area TOMRA Collection Solutions. Previous leadership positions in TOMRA include Business Development, R&D/Operations/Product management, Investor Relations and M&A. Prior to joining TOMRA, Volldal worked as a management consultant in McKinsey & Co. Volldal has a Master of Science degree in Industrial Economics and Technology Management from the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway. He resides in Oslo, Norway.

- I am impressed with Q-Free’s history, solutions and ability to adapt to changing market needs over time. I really look forward to joining the Q-Free organization, and I trust I can use my experience to contribute to profitable growth for Q-Free in a very interesting market with huge potential, Håkon Volldal comments.

- The Board of Directors welcomes Håkon Volldal as CEO in Q-Free, and is of the opinion that with Håkon Volldal in lead together with an experienced and dedicated management team, Q-Free will have the best potential for further development, Chairman of the Board, Charlotte Brogren Karlberg concludes.

Håkon Volldal will be granted 630,000 share options in Q-Free upon commencement of his position in a five-year scheme to be presented for approval by the Annual General Meeting 26 May 2016.

Acting CEO, Roar Østbø, who has successfully headed up Q-Free over the last six months will revert to his position as CFO as of 1 August 2016.

For further information, please contact:

Chairman of the Board of Directors, Charlotte Brogren Karlberg, cell: +46 70 593 56 46

Håkon Volldal; cell: +47 977 19 973

About Q-Free

Q-Free is a leading global supplier of products and solutions within the global ITS market. The Q-Free Group has approximately 450 employees with offices in 20 countries and presence on all continents. The Q-Free head office is in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange under the ticker QFR.

www.q-free.com

Twitter: @Q-FreeASA

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