XXL

Share Issue/Capital Change • Oct 2, 2014

XXL ASA - Shortening of the application period for the Retail Offering and the Employee Offering and the bookbuilding period for the Institutional Offering

XXL ASA - Shortening of the application period for the Retail Offering and the Employee Offering and the bookbuilding period for the Institutional Offering

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR

INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR

DISSEMINATION IN OR INTO THE UNITED STATES OF AMERICA

(INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE

OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF

COLUMBIA) (THE UNITED STATES), AUSTRALIA, CANADA OR

JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

XXL ASA - Shortening of the application period for

the Retail Offering and the Employee Offering and the

bookbuilding period for the Institutional Offering

Oslo, 2 October 2014; Reference is made to the

initial public offering of shares (the Offering) of

XXL ASA (XXL, ticker XXL) and the stock exchange

announcement by XXL on 1 October 2014 regarding early

close of the bookbuilding and application period.

The application period for the Retail Offering and

the Employee Offering expires at 12:00 hours (CET),

and the bookbuilding period expires at 14:00 hours

(CET), today, on 2 October 2014.

Applications for offer shares in the Institutional

Offering must be made by informing one of the

managers of the number of offer shares that the

investors wishes to order, and the price per share

that the investor is offering to pay for such offer

shares within 14:00 hours (CET) today, 2 October

Applicants in the Retail Offering who are resident in

Norway with a Norwegian personal identification

number are recommended to apply for offer shares

through the VPS online application system by

following the link to such system on: www.xxlasa.com

or www.dnb.no/emisjoner. Applicants in the Retail

Offering may also apply for offer shares by using the

retail application form attached to the prospectus

dated 22 September 2014. All applications must be

made within 12:00 hours (CET) today, on 2 October

Eligible Employees applying for offer shares in the

Employee Offering who are resident in Norway with a

Norwegian personal identification number are

recommended to apply for offer shares through the VPS

online application system by following the link to

such system on: www.xxlasa.com or

www.dnb.no/emisjoner. Applicants in the Employee

Offering, including applicants who do not have access

to the VPS online application system, may also apply

for offer shares by using the employee application

form attached to the prospectus dated 23 September

2014. All applications must be made within 12:00

hours (CET) today, on 2 October 2014.

The terms and conditions of the Offering are

presented in the prospectus prepared in connection

with the Offering and listing of XXL dated 22

September 2014. The prospectus is, subject to

regulatory restrictions in certain jurisdictions,

available at www.xxlasa.com, www.abgsc.com,

www.carnegie.no and www.dnb.no/emisjoner. Hard copies

of the prospectus may also be obtained free of charge

by contacting XXL or one of the Managers.

ABG Sundal Collier Norge ASA and Goldman Sachs

International are acting as Joint Global Coordinators

and Joint Bookrunners in the Offering; Carnegie and

Credit Suisse are acting as Joint Bookrunners in the

Offering and DNB Markets (a part of DNB Bank ASA) is

acting as Lead Manager in the Offering. The Joint

Global Coordinators and Joint Bookrunners, the Joint

Bookrunners and the Lead Manager are jointly referred

to as "Managers".

For further queries, please contact:

Mr. Tolle Grøterud, Investor Relations, XXL

+47 902 72 959 / tolle.g@xxl.no

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.

Important Notice

This announcement is not and does not form a part of

any offer to sell, or a solicitation of an offer to

purchase, any securities of the Company.

Copies of this announcement are not being made and

may not be distributed or sent into the United

States, Australia, Canada, Japan or any other

jurisdiction in which such distribution would be

unlawful or would require registration or other

measures.

The securities referred to in this announcement have

not been and will not be registered under the U.S.

Securities Act of 1933, as amended (the Securities

Act), and accordingly may not be offered or sold in

the United States absent registration or an

applicable exemption from the registration

requirements of the Securities Act and in accordance

with applicable U.S. state securities laws. The

Company does not intend to register any part of the

offering in the United States or to conduct a public

offering of securities in the United States. Any sale

in the United States of the securities mentioned in

this announcement will be made solely to qualified

institutional buyers as defined in Rule 144A under

the Securities Act.

Any offering of the securities referred to in this

announcement will be made by means of a prospectus.

This announcement is not a prospectus for the

purposes of Directive 2003/71/EC (as amended,

together with any applicable implementing measures in

any Member State, the Prospectus Directive).

Investors should not subscribe for any securities

referred to in this announcement except on the basis

of information contained in a prospectus.

In any EEA Member State that has implemented the

Prospectus Directive, this communication is only

addressed to and is only directed at qualified

investors in that Member State within the meaning of

the Prospectus Directive.

This communication is only being distributed to and

is only directed at persons in the United Kingdom

that are (i) investment professionals falling within

Article 19(5) of the Financial Services and Markets

Act 2000 (Financial Promotion) Order 2005, as amended

(the Order ) or (ii) high net worth entities, and

other persons to whom this announcement may lawfully

be communicated, falling within Article 49(2)(a) to

(d) of the Order (all such persons together being

referred to as relevant persons ). This

communication must not be acted on or relied on by

persons who are not relevant persons. Any investment

or investment activity to which this communication

relates is available only to relevant persons and

will be engaged in only with relevant persons.

Persons distributing this communication must satisfy

themselves that it is lawful to do so.

Matters discussed in this announcement may constitute

forward looking statements. Forward looking

statements are statements that are not historical

facts and may be identified by words such as believe,

expect, anticipate, strategy, intends, estimate,

will, may, continue, should and similar expressions.

The forward looking statements in this release are

based upon various assumptions, many of which are

based, in turn, upon further assumptions. Although

the Company believes that these assumptions were

reasonable when made, these assumptions are

inherently subject to significant known and unknown

risks, uncertainties, contingencies and other

important factors which are difficult or impossible

to predict and are beyond its control. Actual events

may differ significantly from any anticipated

development due to a number of factors, including

without limitation, changes affecting the Company's

opening of new stores and net sales, changes

affecting the Company's gross margin, changes in

competition levels, changes in the Company's ability

to manage inventory levels, changes affecting net

sales, such as variations caused by weather and

seasonality, changes affecting personnel expenses and

other operating expenses, such as premises costs and

marketing costs, changes in laws and regulation and

the potential impact of legal proceedings and

actions. Such risks, uncertainties, contingencies and

other important factors could cause actual events to

differ materially from the expectations expressed or

implied in this release by such forward looking

statements. The Company does not guarantee that the

assumptions underlying the forward looking statements

in this presentation are free from errors nor does it

accept any responsibility for the future accuracy of

the opinions expressed in this presentation or any

obligation to update or revise the statements in this

presentation to reflect subsequent events. You should

not place undue reliance on the forward looking

statements in this document.

The information, opinions and forward looking

statements contained in this announcement speak only

as at its date, and are subject to change without

notice. The Company does not undertake any

obligation to review, update, confirm, or to release

publicly any revisions to any forward looking

statements to reflect events that occur or

circumstances that arise in relation to the content

of this announcement.

The Managers are acting exclusively for the Company

and the Selling Shareholders and no one else in

connection with the Offering and assume no

responsibility for this announcement.

None of the Managers or any of their respective

directors, officers, employees, advisers or agents

accepts any responsibility or liability whatsoever

for/or makes any representation or warranty, express

or implied, as to the truth, accuracy or completeness

of the information in this announcement (or whether

any information has been omitted from the

announcement) or any other information relating to

the Selling Shareholders or the Company, its

subsidiaries or associated companies, whether

written, oral or in a visual or electronic form, and

howsoever transmitted or made available or for any

loss howsoever arising from any use of announcement

or its contents or otherwise arising in connection

therewith.