XXL

Transaction in Own Shares • Feb 13, 2020

XXL ASA - Exercise of restricted share units from 2017

XXL ASA - Exercise of restricted share units from 2017

Reference is made to the stock exchange announcement of 7 February 2020 and the exercise window for vesting restricted share units from 2017 that closed today 13 February 2020. Employees in XXL ASA have exercised 82,050 restricted share units representing 82,050 ordinary shares. Following this XXL has, pursuant to authorization granted by the Annual General Meeting on 5 June 2019, bought 82,050 of its own shares at a price of NOK 12.07. All shares will be transferred to the employees. Subsequently XXL ASA will hold no own shares after this.

The following primary insider has exercised restricted shares units on 13 February 2020 and has after this the following number of shares and restricted share units in XXL ASA:

- Karoline Gjerde, E-commerce Director, has exercised 1,663 restricted share units, corresponding to 1,663 shares. Following this she holds 2,531 shares and 2,285 restricted share units in XXL ASA including ownership of closely related parties.

For further queries, please contact:

Tolle O. R. Grøterud

Investor Relations, XXL ASA

Tel: +47 90 27 29 59

E-mail: ir@xxlasa.com

About XXL ASA

XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. It is the largest among the major sports retailers in the Nordics. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL’s concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act