XXL ASA – Termination of the New Management Investment Program

27 Feb 2025 07:49 CET

Oslo, 27 February 2025: Reference is made to the stock exchange announcement
made by XXL ASA ("XXL" or the "Company") on 13 December 2023 regarding the
resolution to implement a new long term management investment program (the "New
Investment Program"). As further described therein, the participants in the New
Investment Program were offered the opportunity to invest in a newly established
management investment company, XXL Management Invest II AS ("XMI II"), which in
turn was intended to invest in financial instruments having a value that was
linked to the value of the XXL shares.

Due to disagreements between valuation experts in the implementation phase, the
New Investment Program could not be implemented on the intended terms and
conditions. The Company has therefore in agreement with the participants in the
program resolved to terminate the program. Following the termination, XMI II
will be liquidated and the funds contributed to that company will be repaid to
the participants.

This information is subject to the disclosure requirements pursuant to Euronext
Oslo Rule Book II for companies listed on Oslo Børs.

For more information, 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.

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