Q-Free: Thale Kuvås Solberg appointed Chief Executive Officer

(Bergen/Trondheim, 30 June 2022). The Board of Directors of Q-Free ASA (Q-Free, OSE: QFR) today announces the appointment of Thale Kuvås Solberg as Chief Executive Officer (CEO).

“We are delighted to announce Thale Kuvås Solberg as the new CEO of Q-Free. Thale brings vast experience and a proven track record on global business development with focus on growth, recurring revenue business models and sustainability. We are confident that Thale, together with the Q-Free executive management team and supported by the Board of Directors, will capitalize on the restructured growth platform to improve traffic flow, road safety, and air quality, and forcefully implement the strategy to profitably scale the business", says Trond Valvik, Chair of the Board of Q-Free.

Thale Kuvås Solberg comes from the position as Chief Delivery Officer in Volue ASA, a listed international technology company, and brings vast experience from JP Morgan, Ernst & Young Advisory and various executive positions in Sparebank 1 SMN. Solberg has also been a trusted board member in listed and unlisted companies in various industries and holds a MSc from Norwegian School of Economics (NHH) and University of Southampton.

"I have followed Q-Free’s development over the years and the company has a great potential in leveraging the global technology-leader position within exciting market segments that matter to people. Q-Free has a broad opportunity to capitalize on the technology investments and changes in business models carried out during the last years in a fast-growing global market. Further, the company has a unique sustainability position in its contribution to improved road and travel safety and reduced traffic pollution and I look forward to work with the Q-Free team to realize the growth strategy, “Thale Kuvås Solberg comments.

Thale Kuvås Solberg is expected to assume the position at latest at the end of the fourth quarter of 2022.

As announced on 5 January 2022, Håkon Volldal is stepping down as CEO effective as of 30 June. Until Solberg assumes the position as CEO, Trond Christensen will function as Q-Free’s interim CEO. Christensen joined Q-Free in November 2019 as interim CFO and has since March 2021 served as the company’s permanent CFO.

"The Board would again like to express its gratitude for Håkon Volldal’s relentless efforts to transform Q-Free over the last 6 years," Valvik concludes.

During the period Christensen serves as interim CEO, Arne Kristian Hoset will function as interim CFO. Hoset joined Q-Free in September 2019 as Group Financial Director.

For further information, please contact:
Trond Valvik: Chairman, +47 982 32 815
Trond Christensen: Interim CEO, +47 481 02 754

About Q-Free:
Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society. Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 900 million NOK (100 MUSD) and employs approximately 350 transportation innovators, experts, and enthusiasts. To learn more about how Q -Free is "changing the movements of life", visit www.q-free.com or Twitter:@Q-FreeASA

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