XXL

Remuneration Information • Feb 26, 2016

Share option program - 2016 grant

Share option program - 2016 grant

Reference is made to the stock exchange announcement of 19

February 2016 and the resolution to implement a share option

scheme for the executive management team and certain other

key employees made by the Annual General Meeting in XXL ASA

on 27 May 2015.

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 last five trading days (19

February to 25 February 2016), and a total of 430,125 share

options were granted. The share options are exercisable

three years after the grant date (25 February 2016) subject

to key performance criteria (EBITDA-target) being met and

subject to the option holder being employed in XXL at the

date of the exercise.

The theoretical value of the share option program is NOK 8.5

million, calculated according to the Black-Scholes model.

The following primary insiders have been granted share

options according to the above and have, following this, the

following number of shares and options in XXL ASA:

- Fredrik Steenbuch, CEO, has been granted 28,675

share options. Following this, he holds 3,289,566 shares and

70,386 share options in XXL ASA including ownership of

closely related parties.

- Anders Fjeld, COO, has been awarded 28,675 share

options. Following this he holds 1,354,079 shares and 70,386

share options in XXL ASA including ownership of closely

related parties.

- Krister Pedersen, CFO, has been granted 28,675 share

options. Following this, he holds 307,816 shares and 70,386

share options in XXL ASA including ownership of closely

related parties.

- Leif Thoresen, Managing Director Norway, has been

granted 28,675 share options. Following this, he holds

9,234 shares, 2,018 restricted share units and 28,675 share

options in XXL ASA including ownership of closely related

parties.

- Janicke Blomsnes, acting Managing Director Sweden,

has been awarded 28,675 share options. Following this, she

holds 29,466 shares and 70,386 share options in XXL ASA

including ownership of closely related parties.

- Toni Stigzelius, Managing Director Finland, has been

awarded 28,675 share options. Following this he holds 73,547

shares and 70,386 share options in XXL ASA including

ownership of closely related parties.

- Harald Borgen, Supply chain and Process improvement

Director, has been awarded 28,675 share options. Following

this, he holds 65,162 shares and 70,386 share options in XXL

ASA including ownership of closely related parties.

- Tolle O. R. Grøterud, Business Development and IR

Director, has been awarded 28,675 share options. Following

this, he holds 24,137 shares and 70,386 share options in XXL

ASA including ownership of closely related parties.

- Tommi Jylha-Vuorio, Director Multichannel & E-

commerce, has been awarded 28,675 share options. Following

this, he holds 20,192 shares and 70,386 share options in XXL

ASA including ownership of closely related parties.

- Tom Erik Kjønø, Purchasing and Marketing Director,

has been awarded 28,675 share options. Following this, he

holds 389,901 shares and 70,386 share options in XXL ASA

including ownership of closely related parties.

- Geir Nielsen, Central Warehouse Director, has been

awarded 28,675 share options. Following this, he holds

2,633,915 shares and 70,386 share options in XXL ASA

including ownership of closely related parties.

- Lars Rugaas, Nordic Purchasing Director, has been

awarded 28,675 share options. Following this, he holds

43,812 shares and 70,386 share options in XXL ASA including

ownership of closely related parties.

- Espen Terland, IT Director, has been awarded 28,675

share options. Following this, he holds 175,919 shares and

70,386 share options 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