MINUTES OF THE ANNUAL GENERAL MEETING 2009

Q-Free ASA held its ordinary Annual General Meeting on the 18th of May 2009 at 15:30 pm.

The Board of Directors`s annual report and the annual accounts for 2008 were approved unanimously. No dividend will be distributed for the financial year 2008. Ole Jørgen Fredriksen, Christian Albech and Mimi Kristine Berdal were re-elected as members of the Board of Directors. The Board of Directors will, according to this election, have the following composition: Ole Jørgen Fredriksen (Chairman) Christian Albech Mimi Kristine Berdal Torild Skogsholm Jan Pihl Grimnes Sissel Lillevik Larsen (Employee elected) Anders Hagen (Employee elected) The annual General Meeting approved the following Board Authorizations: Authorization to increase the share capital up to 10% of the share capital. The authorization will be in force until the 18th of May 2011. Authorization to the Board of Directors to acquire the Company`s own shares, limited to up to 10% of the Company`s share capital. The authorization will be in force until the ordinary annual General Meeting in 2010. Authorization to increase the share capital with issuance of new shares – incentivprogram, limited up to 5 %. The authorization will be in force until the 18th of May 2011. A translation into English of the Minutes of the Annual General Meeting is enclosed. Trondheim 18th of May 2009.

Tags: