Q-FREE ASA - FIRST QUARTER RESULT 2010

“We are experiencing high market activity, and as it looks now several major projects will be awarded in 2011 and onwards. Q-Free’s present position and our continuous effort to improve and broadening our portfolio will place Q-Free in an attractive position going forward”, says CEO Dr. Oyvind Isaksen.

Highlights from the quarter; • Revenues of 191.6 MNOK • Operating profit of 13.2 MNOK, 6.9 % margin • Profit before tax amounted to 14.8 MNOK, 7.7 % margin • Order intake of 157 MNOK • Order backlog of 679 MNOK Isaksen further comments; “2010 will be a transition year for which the most important activity will be to secure our position for future awards. This will be achieved by continuing to have high customer focus, proactive market activity, enhance local market setup and by continuously improve our offering”. Enclosures: Quarterly report and presentation Trondheim 28th of April 2010.

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