Trondheim, 03 October 2023

Fredrik Nordh (SEVP Tolling division), a primary insider of Q-Free ASA (the
"Company") has notified the Company that he wishes to call tranche 1 and tranche
2 in the executive management stock option program, awarded on 1 October 2017.
Tranche 1 consists of 228,991 options at a strike price of NOK 8.52, while
tranche 2 consists of 163,565 options at a strike price of NOK 11.93.

The Board has concluded that it is in the Company's best interest to avoid a
share issue during the ongoing change of ownership as reported to the market
through the stock exchange announcement on 26 September 2023, and will therefore
utilize the Company's right to settle the options by cash settlement, in
accordance with the option agreement.

Fredrik Nordh owns 40,000 shares, corresponding to 0.04% of the shares in the
Company. As the options are settled in cash, he will continue to own the same
number of shares following the transaction.

Please see the attached notification form for further information.

This information is subject to the disclosure requirements pursuant to MAR
article 19 and Section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact: Thale Kuvås Solberg, President & CEO,
+47 936 800 30 or Trond Christensen, CFO, +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 1 billion NOK and employs approximately 360
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.