Pandora

Director's Dealing • Nov 22, 2017

PANDORA hereby reports transactions in shares by executive employees and
closely related parties in the PANDORA share.

Ronica Wang, member of the Board of Directors of PANDORA, has bought 1,488
shares at a total price of DKK 833,256 in PANDORA, and now owns a total of
5,999 shares.

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 around
7,700 points of sale, including more than 2,300 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs
around 23,800 people worldwide of whom around 13,200 are located in Thailand,
where the Company manufactures its jewellery. PANDORA is publicly listed on the
Nasdaq Copenhagen stock exchange in Denmark. In 2016, PANDORA’s total revenue
was DKK 20.3 billion (approximately EUR 2.7 billion).

CONTACT
For more information, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Magnus Thorstholm Jensen Martin Kjærsgaard Nielsen
Vice President, Head of Investor Head of Media Relations, Corporate
Relations Communications
+45 7219 5739 +45 5077 5271
mtje@pandora.net mnie@pandora.net
Brian Granberg
Investor Relations Officer
+45 7219 5344
brgr@pandora.net

1. Details of the person discharging managerial responsibilities/person closely
   associated

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a) Name Ronica Wang

2. Reason for the notification

a) Position/status Member of the Board of Directors
of PANDORA,

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b) Initial notification/Amendment Initial notification

1. Details of the issuer, emission allowance market participant, auction
   platform, auctioneer or auction monitor

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a) Name PANDORA A/S

b) LEI 5299007OWYZ6I1E46843

1. Details of the transaction(s): section to be repeated for (i) each type of
   instrument; (ii) each type of transaction; (iii) each date; and (iv) each
   place where transactions have been conducted

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a) Description of the financial instrument, Shares
type of instrument ISIN DK0060252690
Identification code

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b) Nature of the transaction Purchase of shares

c) Price(s) and volume(s) 1)
- Volume(s) Volume: 600 shares
- Price(s) Price: DKK 334,200
2)
Volume: 888 shares
Price: DKK 499,056

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d) Aggregated information Volume: 1,488 shares
- Aggregated volume Price: DKK 833,256
- Price

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e) Date of the transactions 21 November 2017

f) Place of the transactions Nasdaq Copenhagen A/S