Pandora — Earnings Release 2015

Jan 6, 2016

Based on the preliminary reporting, PANDORA’s revenue for 2015 increased
approximately 40% compared to 2014 to DKK 16.7 billion, which compares to a
financial guidance of above DKK 16 billion. The increase includes tailwind from
foreign exchange rates of around 11%, compared to a tailwind of around 10%
anticipated in November 2015 in connection with the announcement of the Q3 2015
report.

All geographic regions contributed with double digit growth in local currency
in the fourth quarter, primarily driven by better than expected Christmas
sales.

Other financial guidance remains unchanged. PANDORA continues to expect an
EBITDA margin around 37%. CAPEX is expected to be approximately DKK 1,000
million and the tax rate is expected to be 30%.

The Annual Report 2015 will be released on 9 February 2016, where executive
management will elaborate further on the results.

                           FY 2015            FY 2015  FY 2014
                  Updated guidance  Previous guidance   Actual

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Revenue, DKK billion 16.7 >16.0 11.9
EBITDA margin approx. 37% approx. 37% 36.0%
CAPEX, DKK million approx. 1,000 approx. 1,000 455
Effective tax rate approx. 30% approx. 30% 20%

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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 90 countries on six continents through
approximately 9,500 points of sale, including more than 1,600 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 15,000 people worldwide of whom approximately 10,400 are located in
Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is
publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2014,
PANDORA’s total revenue was DKK 11.9 billion (approximately EUR 1.6 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
Investor Relations Officer
Phone +45 4323 1739
Mobile +45 3050 4402