Q-FREE ASA – INFORMATION ABOUT BOND EVENT

Reference is made to the stock exchange notice dated 15 December 2020, disclosing Rieber & Søn AS' shareholding of 41,06 % in Q-Free ASA (the "Company"), and to the attached notice from Nordic Trustee AS dated 16 December 2020 to the holders of bonds in our NOK 80 million subordinated convertible bond loan, regarding the conversion right and put option triggered under the loan agreement as a result of Rieber & Søn AS' share acquisition.

As set out in the notice from Nordic Trustee AS, certain additional rights of the bondholders will be triggered if a mandatory offer for the shares in the Company is completed.

For further information, please contact:

Interim CFO, Trond Christensen: +47 481 02 754

President & CEO, Håkon Volldal: +47 977 19 973

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 1 billion NOK and employs approximately 400 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.