XXL

Transaction in Own Shares • Jul 20, 2018

XXL ASA - Program to repurchase own shares

XXL ASA - Program to repurchase own shares

In accordance with the authorization to acquire own shares given at the Annual General Meeting on 6 June 2018, the Board of Directors of XXL ASA initiates a program to buy-back own shares. With reference to the resolution made by the Annual General Meeting on 6 June 2018 the share buy-back program is to cover for share incentive programs or to be deleted in connection with a later reduction of the registered share capital. The total number of shares to be acquired is of a value of around NOK 50 million. The highest price to be paid per share will be NOK 65, but shall in no event exceed the prevailing market price at the Oslo Stock Exchange on the relevant trading day. The shares will be purchased from the open market. The share buy-back program will commence on 23 July 2018 and will continue until mid September 2018.

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 and the fastest growing among the major sports retail chains in the World. 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