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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE

Date: 18 March 2025

FRASERS GROUP PLC

Intention to make a mandatory offer for XXL ASA

Reference is made to the announcement made by XXL ASA ("XXL") via the Oslo Stock Exchange on 6 January 2025 regarding a fully underwritten rights issue of new shares at NOK 10.00 per share (the "Rights Issue").

Following the completion of the Rights Issue and the registration of the share capital increase in XXL, Frasers Group plc ("Frasers") will unconditionally control 28,776,451 shares and the same number of votes in XXL and trigger an obligation under the Norwegian Securities Trading Act to make a mandatory offer for the remaining shares in XXL that it does not already own (the "Mandatory Offer").

Frasers has this morning made an announcement via the Oslo Stock Exchange that it intends to make the Mandatory Offer. A further announcement will be made in due course.

The full announcement can be seen here.

Frasers Group plc