Q-FREE – RESULTS FOR THE SECOND QUARTER AND FIRST HALF 2015

Trondheim/Oslo – 18 August 2015: Q-Free (OSE: QFR) reported revenues of NOK 179 million for the second quarter of 2015, down 4.2 percent from the corresponding quarter in 2014. Revenues in RUC were reduced by NOK 52 million, of which revenues in Noca represented NOK 19 million. Part of the reduction was related to end of life for DSRC tags in Brazil as earlier communicated. Growth in ATMS was NOK 42 million, of which NOK 35 million of the growth was generated through acquisitions and NOK 7 million through organic growth.Gross margin was 76.6 percent during the quarter, up from 59.9 percent