Strategy unchanged

Trondheim/Oslo, 5 November 2015: Reference is made to the Stock Exchange announcement 4 November 2015 regarding changes in the Board of Directors and Management.

- The Board of Directors confirm that the strategy remains unchanged, and that these changes will not impact the short term strategy, but rather speed up the development of the company. The implementation of the strategy shift towards ATMS (Advanced Transportation Management Systems) continues, comments Acting Chairman of the Board, Charlotte Brogren. At the same time the initiatives to streamline the Road User Charging division will be intensified. The Board of Directors believes that the recent changes will progress these initiatives. We are already benefitting from the increased technology pool and we are now accelerating the integration and streamlining of both technologies and sales resources, Charlotte Brogren concludes.

- It is with dedication and a strong belief in Q-Free I take on the position as Acting CEO, says Roar Østbø. Together with my highly skilled colleagues, we will bring joint offerings in Tolling, Parking and Traffic Management to the market, taking advantage of technologies from various parts of the Q-Free technology portfolio. The main priorities now are to strengthen the cost containment and capital discipline, and at the same time work towards realising further revenues and technology synergies in the Group. Q-Free aims to build a profitable growth company serving the global ITS market, concludes Acting CEO, Roar Østbø.

For further information, please contact:

Acting CEO 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 approximately 430 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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