XXL

Program to repurchase own shares

In accordance with the authorization to acquire own shares

given at the Annual General Meeting on 27 May 2015, the

Board of Directors of XXL ASA initiates a program to buy-

back own shares. With reference to the stock exchange

announcement on 19 February 2016 concerning a program for

restricted share units, the share buy-back program is to

cover for these stocks. The total number of shares to be

acquired is up to 97,000 shares and the exact number of

restricted share units will be available and disclosed soon.

The highest price to be paid per share will be NOK 110, 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 29 February 2016

and will continue until end of March 2016. The shares

purchased will in full be used in the above mentioned

program for restricted share units.

For further queries, please contact:

Tolle O. R. Grøterud, Head of Investor Relations, XXL ASA

Tel: +47 90 27 29 59

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

AI Terminal