XXL

Director's Dealing • Nov 16, 2020

XXL – MANDATORY NOTIFICATION OF TRADE

XXL – MANDATORY NOTIFICATION OF TRADE

Reference is made to the stock exchange announcement published by XXL ASA ("XXL" or the "Company", OSE ticker code "XXL") on 7 January 2020 and 18 May 2020 regarding establishment and implementation of a long term management investment program (the "Investment Program") through XXL Management Invest AS ("XMI").

Roxbury AS, a wholly owned company by EVP Strategy and Business Development of XXL and primary insider André Sjåsæt, has today sold 49,500 shares in XXL at a price of NOK 19.95. Following this transaction, André Sjåsæt owns no shares in XXL ASA.

André Sjåsæt will through his wholly owned company Roxbury AS invest an additional amount of NOK 1.25 million in XMI, equal to 907 shares in XMI. Such investment will increase his indirect ownership in XXL Sport & Villmark AS to 0.23%. The subscription price per share in XMI is NOK 5,514. The price has been calculated in accordance with the XMI Shareholders' Agreement, based on the volume weighted average XXL share price during the period from and including 3 November 2020 up to and including 16 November 2020 of NOK 21.38.

This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.

For further queries, please contact:

Investor Relations:

Tolle O. R. Grøterud

Tel: +47 90 27 29 59

E-mail:ir@xxlasa.com