NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR
ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES
DESCRIBED HEREIN.

Reference is made to the stock announcement published by XXL ASA ("XXL" or the
"Company") earlier today, on 6 January 2025, regarding a contemplated fully
underwritten rights issue in the Company raising gross proceeds of approx. NOK
600 million (the "Rights Issue"). Key information relating to the Rights Issue
is set out below.  

Date on which the terms and conditions of the preferential rights issue were
announced: 6 January 2025.

Last day including rights: 29 January 2025.

Ex-date: 30 January 2025.

Record Date: 31 January 2025 (assuming normal T+2 settlement).

Date of approval: 29 January 2025.

Maximum number of new shares: 60 million shares.

Subscription price: NOK 10.

Ratio preferential rights: Each existing shareholder as of 29 January 2025 (and
being registered as such in Euronext Securities Oslo, the Norwegian Central
Securities Depository (CSD) at the expiry of 31 January 2025 (the Record Date))
will be granted 2.4355 subscription rights for each share registered as held by
the shareholder. The number of subscription rights granted to each existing
shareholder will be rounded down to the nearest whole subscription right. 

Subscription ratio: 1:1 (number of new shares per subscription right).

Global Coordinators: Carnegie AS, DNB Markets, a part of DNB Bank ASA and Nordea
Bank Abp, filial i Norge.

Will the rights be listed: Yes, the Company will apply for listing of the
subscription rights on the Oslo Stock Exchange.

ISIN for the preferential rights: To be announced when clarified.

Other information: Reference is made to the stock exchange announcement
published by the Company earlier today, on 6 January 2025, for further
information regarding the Rights Issue. The Rights Issue is subject to (i)
approval by the extraordinary general meeting and (ii) publication of a
prospectus for offering and listing of the new shares as approved by the
Norwegian Financial Supervisory Authority. 
Notice of the extraordinary general meeting is expected to be sent to
shareholders on 8 January 2025. 
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.

For further information, please contact: 

Investor Relations:
Tolle Grøterud
Email: ir@xxlasa.com 
Phone: +47 902 72 959

Press contact:
Jan Christian Thommesen
Phone: +47 918 21 387
Email: 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.

IMPORTANT NOTICE:
These materials do not constitute or form a part of any offer of securities for
sale or a solicitation of an offer to purchase securities of the Company in the
United States or any other jurisdiction. The securities of the Company may not
be offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"). The securities of the Company have not been, and will not be,
registered under the U.S. Securities Act. Any sale in the United States of the
securities mentioned in this communication will be made solely to "qualified
institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No
public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 (together with any applicable
implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are 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) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement 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.

Solely for the purposes of the product governance requirements contained within:
(a) EU Directive 2014/65/EU on markets in financial instruments, as amended
("MiFID II")