Reference is made to the stock exchange announcement made by Frasers Group plc
("Frasers") on 14 April 2025 regarding launch of a mandatory offer for all
shares in XXL ASA ("XXL" or the "Company") not already owned by Frasers for a
consideration of NOK 10 per share in cash (the "Offer").  

Enclosed is the statement made by the board of directors (the "Board") of XXL in
accordance with Section 6-16 of the Norwegian Securities Trading Act in relation
to the Offer, and the accompanying fairness opinion prepared by ABG Sundal
Collier ASA. The Board strongly advises shareholders to carefully review their
options in the light of the factors set out in the statement and any other
available information, and to make an independent evaluation of whether or not
to accept the Offer.

For further queries, please contact: 

Investor Relations: 
Tolle O. R. Grøterud
Phone: +47 902 72 959 
E-mail: ir@xxlasa.com

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

This announcement is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. 

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.