Oslo, 3 October 2023: Reference is made to the stock exchange announcement
published by XXL ASA ("XXL" or the "Company") on 15 June 2023 regarding a
reassessment of taxable income for the subsidiary XXL Sport & Villmark AS
relating to the XXL group's international transfer pricing model. XXL has today
received a demand for payment of NOK 90 million from the Norwegian tax
authorities due to be paid today, 3 October 2023. XXL will transfer the amount
accordingly but does not agree with the reassessment. The amount is not based on
a qualitative assessment of what is the expected outcome of the case. XXL has
asked for MAP/APA negotiations between competent authorities in order to
mitigate the net tax effects for the XXL group by adjustments to taxable income
in another jurisdiction through mechanisms in relevant double taxation treaties
between Norway and such jurisdiction and which could lead to a refund from that
jurisdiction. XXL has also appealed the reassessment to the tax appeal board.
The appeals process is put on hold pending MAP/APA negotiations. 

For further queries, please contact: 
Investor Relations: 
Tolle O. R. Grøterud 
Tel: +47 902 72 959 
E-mail:ir@xxlasa.com 

Press: 
Jan Christian Thommesen
Tel: +47 918 21 387
presse@xxl.no 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Tolle O. R. Grøterud, Investor Relations Officer
of XXL ASA, on 3 October 2023 at 14.10 CET.

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.