Pandora — Director's Dealing 2016

May 25, 2016

PANDORA

PANDORA A/S

Hovedvejen 2|DK-2600 Glostrup |Denmark

Tel. +45 3672 0044

www.pandoragroup.com

No. 308

COMPANY ANNOUNCEMENT

25 May 2016

TRANSACTIONS IN SHARES BY EXECUTIVE EMPLOYEES AND CLOSELY RELATED PARTIES IN THE PANDORA A/S SHARE

Pursuant to section 28a in the Danish Securities Trading Act, PANDORA hereby gives notice of the following transaction.

Name	Allan Leslie Leighton
Reason for the reporting	Co-Deputy Chairman of the Board of Directors
Issuer	PANDORA A/S
ISIN Code	DK0060252690
Nature of the transaction	Sale of shares
Type of security	Shares
Trading date	24 May 2016
Trading market	NASDAQ Copenhagen
Number of securities traded	12,380
Market value on trading date	DKK 12,338,277

ABOUT PANDORA

PANDORA designs, manufactures and markets hand-finished and contemporary jewellery made from high-quality materials at affordable prices. PANDORA jewellery is sold in more than 100 countries on six continents through approximately 9,000 points of sale, including more than 1,800 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more than 16,700 people worldwide of whom approximately 11,000 are located in Gemopolis, Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2015, PANDORA's total revenue was DKK 16.7 billion (approximately EUR 2.2 billion).

25 May 2016 | COMPANY ANNOUNCEMENT No. 308 | page 1 | 2

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PANDORA

CONTACT

For more information, please contact:

INVESTOR RELATIONS
Morten Raunholt Eismark
VP Group Investor Relations
Phone +45 3673 8213
Mobile +45 3045 6719

Magnus Thorstholm Jensen
Senior Investor Relations Officer
Phone +45 4323 1739
Mobile +45 3050 4402

MEDIA RELATIONS
Kristian Lysgaard
Director, Group Communications
Phone +45 4323 1774
Mobile +45 2556 8561

25 May 2016 | COMPANY ANNOUNCEMENT No. 308 | page 2 | 2