XXL

Share Issue/Capital Change • Mar 13, 2023

XXL ASA – New share capital registered

XXL ASA – New share capital registered

Oslo, 13 March 2023: Reference is made to the stock exchange announcement made by XXL ASA (the "Company") on 22 December 2022 regarding the successful placing of a NOK 500 million private placement in the Company (the "Private Placement"), as well as the stock exchange announcement made on 17 January 2023 where the Company announced that the general meeting had, inter alia, resolved to issue new shares as part of the settlement of tranche 2 in the Private Placement subject to approval and publication of the prospectus prepared for (i) listing of the 97,631,993 tranche 2 shares on the Oslo Stock Exchange, and (ii) offering new shares to eligible shareholders in the subsequent offering (including the listing of such new shares on the Oslo Stock Exchange).

The share capital increase pertaining to the issuance of the 97,631,993 new shares in tranche 2 has today been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).

The Company's registered share capital is NOK 155,028,717.20 divided into 387,571,793 ‬shares, each with a nominal value of NOK 0.40.

For further information, 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