Q-Free: Acceptances received under mandatory offer to acquire all shares in Q-Free ASA

22 Dec 2022 17:38 CET

Reference is made to the mandatory offer (the "Offer") from Rieber & Søn AS (the
"Offeror") to acquire all shares in Q-Free ASA ("Q-Free" or the "Company") at an
offer price of NOK 6.20 per share pursuant to an offer document dated 24
November 2022. On 22 December 2022, the Offeror has received acceptances under
the Offer for 609,826 shares.

Following these acceptances, the Offeror has received acceptances for a total of
3,869,344 shares and votes in Q-Free. In addition, the Offeror owns a total of
56,069,283 shares in the Company. The Offeror accordingly has an aggregate
holding of 59,938,627 shares and rights to shares in Q-Free, equal to
approximately 53,88% of the total number of 111,244,416 issued shares in the
Company.

In addition to the above, the Offeror has observed from stock exchange
announcement on 21 December 2022 that Arctic Asset Management AS has accepted
the Offeror a total of 9,384,391 shares, however this acceptance has not yet
been received by DNB as receiving agent, and accordingly has not been reflected
in the above numbers.

The Offeror is a close associate of Trond Valvik, Chair of the board in Q-Free.

Please see attached notification form in accordance with the Market Abuse
Regulation article 19.

This notification has been submitted pursuant to the Securities Trading Act
section 5-12.

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579083_QFR_PDMR_notification_2022_12_22.pdf