Reference is made to the stock exchange announcement published by XXL ASA (the
"Company") on 13 April 2024 regarding PDMR notifications by Altor Invest 5 AS
and Altor Invest 6 AS in relation to a share lending agreement pursuant to which
Altor Invest 5 AS and Altor Invest 6 AS have granted Carnegie AS an option to
borrow up to 98,986,412 ordinary shares (class A-shares) in the Company, which
shall be shared equally between Altor Invest 5 AS and Altor Invest 6 AS (50/50).
The purpose of the borrowing is to facilitate delivery-versus-payment settlement
of shares allocated in the private placement which was placed on 22 March 2024
and which today has been resolved by the Company's general meeting (the "Private
Placement").

Altor Invest 5 AS' holding of ordinary A-shares will, in connection with the
share lending, decrease from 222,475,350 to 172,982,144 A-shares, which is a
decrease from 16.67% to 12.96% of the votes in the Company based on a total of
1,334,852,101 outstanding A-shares (i.e. prior to the issuance of new class
A-shares in the Private Placement).

Altor Invest 6 AS' holding of A-shares will, in connection with the share
lending,  decrease from 222,475,350 to 172,982,144 A-shares, which is a decrease
from 16.67% to 12.96% of the votes in the Company based on a total of
1,334,852,101 outstanding A-shares.

On a consolidated basis, Altor Invest 5 AS' and Altor Invest 6 AS' holding of
A-shares will decrease from 444,950,700 to 345,964,288 A-shares, which is a
decrease from 33.33% to 25.92% of the votes in the Company based on a total of
1,334,852,101 outstanding A-shares.

The shares that are borrowed by Carnegie AS will be redelivered to Altor Invest
5 AS and Altor Invest 6 AS upon registration of the share capital increase
pertaining to the Private Placement and delivery of the new shares in VPS.

This information is subject to the disclosure requirements pursuant to Section
5-12, cf. Section 4-2 of the Norwegian Securities Trading Act.