XXL

Share Issue/Capital Change • Aug 8, 2024

XXL ASA – Exchange of class B shares into class A shares

XXL ASA – Exchange of class B shares into class A shares

Oslo, 8 August 2024: XXL ASA ("XXL" or the "Company") has received a request from Altor Invest 5 AS and Altor Invest 6 AS to exchange a total of 214,287 and 214,286 non-voting class B shares, respectively, to ordinary class A shares in XXL.

Pursuant to Article 4 of XXL's Articles of Association, any holder of class B shares may, subject to certain conditions, at any time request the exchange of, and exchange, class B shares into class A shares by notifying the Company.

Following such exchange, the share capital in XXL remains unchanged, but the number of ordinary shares (class A-shares) will increase by 428,573 and the number of non-voting shares (class B-shares) will decrease by the same amount. The share capital of XXL will following the exchange be NOK 985,429,800 divided into 19,991,380 ordinary shares (class A-shares) and 4,644,365 non-voting shares (class B-shares), in total 24,635,745 shares, each with a nominal value of NOK 0.40.

The Articles of Association in Norwegian and an unofficial English translation are available at the Company's website.

Altor Invest 5 AS and Altor Invest 6 AS are both close associates of primary insider and member of the board of directors of the Company, Tom Jovik. Following the above exchange, Altor Invest 5 AS will own 3,331,897 ordinary shares (class A-shares) and 2,322,182 non-voting shares (class B-shares), and Altor Invest 6 AS will own 3,331,896 ordinary shares (class A-shares) and 2,322,183 non-voting shares (class B-shares). Please see the attached forms for further details.

For further queries, please contact:

Investor Relations:

Tolle O. R. Grøterud

Tel: +47 902 72 959

E-mail: ir@xxlasa.com

Press contact:

Jan Christian Thommesen

Tel: +47 918 21 387

E-mail: presse@xxl.no

About XXL ASA

XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden and Finland. 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 to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.