XXL

Major Shareholding Notification • Apr 30, 2020

XXL ASA – Result of contemplated sale, mandatory notification of trade and disclosure of shareholding

XXL ASA – Result of contemplated sale, mandatory notification of trade and disclosure of shareholding

Reference is made to the stock exchange notice dated 30 April 2020 where Dolphin Management AS, a company controlled by XXL ASA board member Øivind Tidemandsen, announced its contemplated sale of existing shares in XXL ASA. Following completion of the bookbuilding process, Dolphin Management AS has sold 13,000,000 shares in XXL ASA at a price of NOK 9.00 per share. Following this transaction, Dolphin Management AS owns 20,855,956 shares in XXL ASA, representing 12.10 percent of the outstanding shares of XXL ASA before the company’s issuance of new shares in the upcoming share issue. In addition, Dolphin Management AS owns 15,709,163 rights to subscribe for and be allocated new shares at NOK 5 per share in the share issue.

This information is subject to the disclosure requirements pursuant to sections 4-2 and 4-3 of the Norwegian Securities Trading Act.