XXL

Board/Management Information • Feb 19, 2016

Change in the Executive Management of XXL ASA

Change in the Executive Management of XXL ASA

Managing Director Sweden, Mr. Marcus Wibergh, has

decided to leave his position after eight years with

XXL and to search for new opportunities outside the

company. He will be leaving his position in April

2016. Mrs. Janicke Blomsnes will take up the position

as acting Managing Director Sweden and will be a part

of the Executive Management team of XXL ASA from

today. XXL will start the process of recruiting a new

Managing Director Sweden.

Mr. Anders Fjeld, former Managing Director Norway, has

been appointed Chief Operating Officer (COO) in XXL

ASA. New Managing Director Norway will be Mr. Leif

Thoresen and he will be a member of the Executive

Management team of XXL ASA from today.

Nordic Purchasing Director, Mr. Lars Rugaas, will also

be a part of the Executive Management team of XXL ASA

from today.

All the new members have extensive experience from XXL.

Mrs. Janicke Blomsnes is a Norwegian citizen and

resides in Sweden. She comes from the position as

Operations Manager in XXL Sweden and as Head of Nordic

Training and Education in XXL Group. Prior to this she

served as Store Manager and Sales Leader in Norway.

She owns 29,466 shares in XXL ASA and 41,711 share

options in XXL ASA including ownership of closely

related parties.

Mr. Leif Thoresen is a Norwegian citizen and resides

in Norway. He comes from the position as Operations

Manager in XXL Norway. Prior to this he served as

Store Manager in XXL Norway and as Operations Manager

in XXL Finland. Before joining XXL in 2010, Mr.

Thoresen held several leading positions in Lidl Norway

and Rema 1000 Norway within sales, marketing and

logistics. He owns 9,234 shares in XXL ASA and 2,018

Restricted Share Units in XXL ASA including ownership

of closely related parties.

Mr. Lars Rugaas is a Norwegian citizen and resides in

Norway. He has been Nordic Purchasing Director in XXL

since November 2012. Prior to this he assumed the role

as Purchasing Director for sportswear. Before joining

XXL in 2005, Mr. Rugaas held several positions in

retail companies Gresvig (G-Sport and Intersport),

Bakers (Orkla Foods) and 7-Eleven. He holds a Master

degree in Marketing Management from BI Norway and

Griffith University Australia. Mr. Lars Rugaas owns

43,812 shares in XXL ASA and 41,711 share options in

XXL ASA including ownership of closely related parties.

For further information please contact:

Mr. Tolle Grøterud

Head of Investor Relations

XXL ASA

tolle.g@xxl.no

+47 90 27 29 59

This information is subject to the disclosure

requirements pursuant to section 5-12 of the Norwegian

Securities Trading Act.