XXL

Share Issue/Capital Change • Nov 8, 2019

XXL ASA – NEW SHARE CAPITAL REGISTERED

XXL ASA – NEW SHARE CAPITAL REGISTERED

Oslo, 8 November 2019, XXL ASA ("XXL" or the "Company", OSE ticker code "XXL"): Reference is made to the stock exchange announcement made by XXL on 15 October 2019, where it announced a committed private placement of 26,666,667 new shares at a subscription price of NOK 15 per share (the "Private Placement"). Reference is also made to the announcement made on 6 November 2019, where XXL published minutes of the extraordinary general meeting which inter alia included the general meeting's resolution to approve the Private Placement.

XXL has today issued the 26,666,667 new shares in the Private Placement, each share with a nominal value of NOK 0.40. The new share capital has been registered with the Norwegian Register of Business Enterprises and the new shares have been legally and validly issued. Following the issuance of the new shares, the share capital of XXL is NOK 66,305,097.60, comprising 165,762,744 new shares, each with a nominal value of NOK 0.40.

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

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 of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.