XXL

Remuneration Information • Feb 22, 2017

XXL ASA - Share option program - 2017 grant

XXL ASA - Share option program - 2017 grant

Reference is made to the stock exchange announcement of 15

February 2017 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 3 June 2016.

The strike price has been set to NOK 95.17 based on the

volume weighted average share price of XXL's shares on the

Oslo Stock Exchange during the last five trading days (15

February to 21 February 2017), and a total of 1,142,408

share options were granted. The share options are

exercisable three years after the grant date (21 February

2017) 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

21.6 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 63,467

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

133,853 share options in XXL ASA including ownership of

closely related parties.

- Anders Fjeld, COO, has been awarded 63,467 share

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

133,853 share options in XXL ASA including ownership of

closely related parties.

- Toni Stigzelius, COO Heart of Europe and Managing

Director Finland, has been awarded 63,467 share options.

Following this he holds 70,000 shares and 133,853 share

options in XXL ASA including ownership of closely related

parties.

- Krister Pedersen, CFO, has been granted 63,467 share

options. Following this, he holds 280,000 shares and

133,853 share options in XXL ASA including ownership of

closely related parties.

- Anders Kjellèn, Managing Director Norway, has been

granted 63,467 share options. Following this, he holds no

shares and 63,467 share options in XXL ASA including

ownership of closely related parties.

- Janicke Blomsnes, Managing Director Sweden, has been

awarded 63,467 share options. Following this, she holds

19,466 shares and 133,853 share options in XXL ASA including

ownership of closely related parties.

- Tommi Jylha-Vuorio, Director Multichannel &

E-commerce, has been awarded 63,467 share options. Following

this, he holds 20,192 shares and 133,853 share options in

XXL ASA including ownership of closely related parties.

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

Director, has been awarded 63,467 share options. Following

this, he holds 24,137 shares and 133,853 share options in

XXL ASA including ownership of closely related parties.

- Tom Erik Kjønø, Purchasing Director Europe, has been

awarded 63,467 share options. Following this, he holds

389,901 shares and 133,853 share options in XXL ASA

including ownership of closely related parties.

- Lars Rugaas, Nordic Purchasing Director, has been

awarded 63,467 share options. Following this, he holds

43,812 shares and 133,853 share options in XXL ASA including

ownership of closely related parties.

- Espen Terland, IT Director, has been awarded 63,467

share options. Following this, he holds 145,919 shares and

133,853 share options in XXL ASA including ownership of

closely related parties.

- Harald Borgen, Supply chain and Process Improvement

Director, has been awarded 63,467 share options. Following

this, he holds 65,162 shares and 133,853 share options in

XXL ASA including ownership of closely related parties.

- Geir Nielsen, Central Warehouse Director, has been

awarded 63,467 share options. Following this, he holds

2,518,439 shares and 133,853 share options in XXL ASA

including ownership of closely related parties.

- Jarle Bråten, Marketing Director Group, has been

awarded 63,467 share options. Following this, he holds 5,000

shares and 63,467 share options in XXL ASA including

ownership of closely related parties.

- Robert Iversen, Group Training Director, has been

awarded 63,467 share options. Following this, he holds

1,336,341 shares and 63,467 share options in XXL ASA

including ownership of closely related parties.

For further queries, please contact:

Tolle O. R. Grøterud

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, Finland and Denmark. It is the largest

and 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

This information is subject to disclosure requirements

pursuant to Section 5-12 of the Norwegian Securities Trading

Act