Q-FREE- MANDATORY NOTIFICATION OF TRADE

Trondheim, Oslo 12 February 2015: Chairman of the board, Terje Christoffersen has purchased 25,000 QFR shares through his ownership in Tell It AS at an average price of NOK 11.44. Christoffersen owns indirectly through Tell It AS 70,072 shares in Q-Free ASA after the transaction.

Board member, Selma Kveim has purchased 4,000 QFR shares at an average price of NOK 11.89. New holding of QFR shares after the transaction is 17,000.

CEO, Thomas Falck has today purchased 19,298 QFR shares through his ownership in Sølen AS at an average price of NOK 12. Falck owns indirectly through Sølen AS 82,781 shares in Q-Free ASA after the transaction. Falck has employment regulations regarding assignment of 525,000 syntetic options in Q-Free.

CFO, Roar Østbø has today purchased 4.500 QFR shares at an average price of NOK 11.94. Østbø owns 104,500 shares in Q-Free ASA after the transaction. Østbø holds 150,000 share options in Q-Free ASA.