XXL

Related Party Transaction • Apr 5, 2023

XXL ASA - Notification of transactions by closely associated persons

XXL ASA - Notification of transactions by closely associated persons

Reference is made to the stock announcement made on 9 March 2023 regarding Altor Invest 5 AS and Altor Invest 6 AS, both close associates of primary insider and board member in XXL ASA (the "Company"), Tom Jovik, entering into total return swap agreements (the "TRS Agreements") providing a financial exposure to, and a sale of, 15,068,382 and 15,068,382 underlying shares in the Company.

Altor Invest 5 AS and Altor Invest 6 AS have received required clearance under the Austrian merger filing requirements and have today terminated the TRS Agreements with financial exposure to 15,068,382 and 15,068,382 underlying shares in the Company, respectively. In connection with the termination of the TRS agreement, Altor Invest 5 AS and Altor Invest 6 AS have acquired 15,068,382 and 15,068,382 shares in the Company, respectively.

Following today's acquisition of shares, Altor Invest 5 AS will increase its holding of shares from 48,427,094 (approximately 12.5% of the share capital) to 63,495,476 (approximately 16.4% of the share capital), while Altor Invest 6 AS will increase its holding of shares from 48,427,097 (approximately 12.5% of the share capital) to 63,495,379 (approximately 16.4% of the share capital).

Their aggregated holding of shares following today's acquisitions is consequently 126,990,995, approximately 32.8% of the shares and votes in the Company.

See further details on today's acquisitions in the attached notifications.

Contact persons, XXL ASA:

Investor Relations

Tolle Grøterud

Tel: +47 902 72 959

ir@xxlasa.com

This information is subject to disclosure requirements set out in Article 19 of the EU Market Abuse Regulation and sections 4-2 and 5-12 of the Norwegian Securities Trading Act.