XXL

Share Issue/Capital Change • Mar 31, 2016

XXL ASA - Restricted share units - 2016 grant

XXL ASA - Restricted share units - 2016 grant

Reference is made to the stock exchange announcement

of 19 February 2016, the resolution to implement a

program of restricted share units for employees made

by the Annual General Meeting in XXL ASA on 27 May

2015, and the announcement of 26 February 2016 of a

program to repurchase own shares.

The strike price has been set to NOK 93.10, based on

the volume weighted average share price of XXL's

shares on the Oslo Stock Exchange during the five

trading days from 19 February to 25 February 2016. In

total 97,000 restricted share units will be granted to

employees. The shares will vest after three years

subject to the holder at the time of exercise is

employed in XXL.

The following primary insiders have been granted

restricted share units according to the above and

have, following this, the following number of shares

and restricted share units in XXL ASA:

- Morten Fuglum, Group Controller, has been

granted 913 restricted share units. Following this, he

holds 26,261 shares and 1,781 restricted share units

in XXL ASA including ownership of closely related

parties.

- Christian Hokstad Pedersen, Group Controller,

has been granted 967 restricted share units. Following

this, he holds 5,056 shares and 2,211 restricted share

units in XXL ASA including ownership of closely

related parties.

- Leidulf Holand, Business Controller, has been

granted 806 restricted share units. Following this, he

holds 79,248 shares and 1,742 restricted share units

in XXL ASA including ownership of closely related

parties.

- Karete Kvisle, Head of Accounting, has been

granted 967 restricted share units. Following this,

she holds 4,875 shares and 2,038 restricted share

units in XXL ASA including ownership of closely

related parties.

- Magnus Bjurling, Controller, has been granted

913 restricted share units. Following this, he holds

3,488 shares and 2,084 restricted share units in XXL

ASA including ownership of closely related parties.

- Trine-Lise Anker Rasch, Financial Controller,

has been granted 806 restricted share units. Following

this, she holds 603 shares and 806 restricted share

units in XXL ASA including ownership of closely

related parties.

For further queries, please contact:

Tolle O. R. Grøterud, Head of 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 and Finland. It is the

fastest growing among the major sports retailers in

the Nordic. 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 lowest prices and the widest

assortment of products, focusing on branded goods