Q-FREE- MANDATORY NOTIFICATION OF TRADE

Trondheim 6 May 2015: CFO, Roar Østbø has on the 5 May 2015 purchased 3,500 QFR shares at an average price of NOK 13.82. Østbø owns 108,000 shares in Q-Free ASA after the transaction.

VP Managed services, Frank Kjelsli has on 5 May 2015 purchased 5,000 shares in Q-Free ASA at an average price of NOK 13.58. Kjelsli owns 15,000 shares in Q-Free ASA after the transaction.

VP Nordic, Pål Rune Johansen has on 5 May 2015 purchased 2,500 shares in Q-Free ASA at an average price of NOK 13.83. Johansen owns 7,500 shares in Q-Free ASA after the transaction.

VP APMEA, Per Fredrik Ecker has on 5 May 2015 purchased 3,000 shares in Q-Free ASA at an average price of NOK 13.93. Ecker owns 23,500 shares in Q-Free ASA after the transaction.

VP RUC, Marianne Sandal has on 5 May 2015 purchased 5,000 shares in Q-Free ASA at an average price of NOK 13.50. Sandal owns 42,000 shares in Q-Free ASA after the transaction.

CSO, Henrik Stoltenberg has on 5 May 2015 purchased 6,500 shares in Q-Free ASA at an average price of NOK 13.95. Stoltenberg owns 14,500 shares in Q-Free ASA after the transaction.

VP ATMS, Morten Andersson has on 5 May 2015 purchased 7,700 shares in Q-Free ASA at an average price of NOK 13.98. Andersson owns 7,700 shares in Q-Free ASA after the transaction.