XXL

Share Issue/Capital Change • Mar 18, 2020

XXL ASA – NEW SHARE CAPITAL REGISTERED

XXL ASA – NEW SHARE CAPITAL REGISTERED

Oslo, 18 March 2020, XXL ASA ("XXL" or the "Company", OSE ticker code "XXL"):

Reference is made to the stock exchange announcement made by XXL on 24 February 2020 regarding the board of directors' resolution to increase the Company's share capital and the stock exchange announcement made on 11 March 2020, where the Company announced the result of the subsequent offering of 6,666,667 new shares at a subscription price of NOK 15.00 per offer share (the "Subsequent Offering").

The share capital increase has today been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret) and the 6,666,667 new shares have been legally and validly issued. Following issuance of the new shares, the share capital of XXL is NOK 68,971,764.4, comprising in total 172,429,411 shares, each with a nominal value of NOK 0.40.

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

XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. It is the largest among the major sports retailers in the Nordics. 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 best prices and the widest assortment of products, focusing on branded goods. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.