Q-Free: Traffic Management ARR contract in US - extension MNOK 20

23 Nov 2022 08:35 CET

Q-Free has signed an optional extension of a state-wide ATMS contract in the US.
The contract is expected to generate a revenue of approx. MNOK 20 over a 30
-month period. The contract will be classified as recurring revenue.

-Again, we see that an important customer utilizes their option to extend the
use of our services on a central system. The contract helps secure our annual
recurring revenue and cashflow moving forward, comments President and CEO of Q
-Free, Thale Kuvås Solberg.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Rita Bøe Isaksen, Board Secretary in Q-Free ASA,
on 23 November 2022 at 08:35 CET.

For further information, please contact:

Thale Kuvås Solberg, President & CEO, +47 936 800 30
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 NOK 900 million 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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