In accordance with the guidelines for determination of salary and other
remuneration to executive personnel in XXL ASA ("XXL" or the "Company", OSE
ticker XXL), the Board of Directors of XXL ASA and the Nomination committee of
XXL ASA have resolved to implement a new long term management investment program
to align the long term interests of the executive management and the members of
the Board with those of the Company's shareholders.

The new long term management investment program (the "New Investment Program")
will replace the existing management investment program announced by the Company
on 7 January 2020 and approved by the extraordinary general meeting on 29
January 2020.

XXL has primarily offered certain board members and members of the executive
management to participate in the New Investment Program by investing in a newly
established management investment company, XXL Management Invest II AS ("XMI2").


To facilitate for such investment, XXL is acquiring 20,540 shares in XMI1 from
the existing participants against cash payment and will after the acquisition
own approximately 77% of the shares in XMI1. The participants participating in
the New Investment Program will use their proceeds to invest in XMI2. 

XMI2 will invest in financial instruments having a value that is linked to the
value of the XXL shares. The instruments are sold by XXL to XMI2 with a 3-year
lock-up and XMI2's investment will be funded partly in cash and partly through a
seller's credit which will be converted into equity in XMI2.

The total investment of XMI2 will at the implementation of the New Investment
Program be in the total amount of NOK 26,350,000 (after deduction of the
illiquidity discount of 25% due to the lock-up obligations). XMI2 will be
financed solely by equity as follows:

o	Management and board members will make a cash investment of NOK 8,783,333 by
subscribing for ordinary shares (A-shares)
o	The seller's credit of NOK 17,566,667 will be converted into redeemable
preference shares (C-shares) subscribed for by XXL. 
o	XXL will also subscribe for one super voting B-share for the same price as
each A-share.

XXL will be the majority shareholder and control XMI2 by holding the majority of
the share capital (through the preference shares) and owning one B-share which
gives XXL the majority of votes at the general meeting of XMI2. 

The offers to both dispose shares in XMI1 and participate in the New Investment
Program by investing in XMI2 have been accepted by certain primary insiders as
set out in the attached transaction notifications.

This information is disclosures pursuant to article 19 of the EU Market Abuse
Regulation, and 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 
E-mail: ir@xxlasa.xom 
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,
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.