Pandora — Director's Dealing 2016

May 23, 2016

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

Name Peder Tuborgh

Reason for the reporting Chairman of the Board of Directors

Issuer PANDORA A/S

ISIN Code DK0060252690

Nature of the transaction Purchase of shares

Type of security Shares

Trading date 23 May 2016

Trading market NASDAQ Copenhagen

Number of securities traded 1,517

Market value on trading date DKK 1,496,521

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).

CONTACT
For more information, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Morten Raunholt Eismark Kristian Lysgaard
VP Group Investor Relations Director, Group Communications
Phone +45 3673 8213 Phone +45 4323 1774
Mobile +45 3045 6719 Mobile +45 2556 8561
Magnus Thorstholm Jensen
Senior Investor Relations Officer
Phone +45 4323 1739
Mobile +45 3050 4402