Pandora — M&A Activity 2014

Mar 3, 2014

No. 147
COMPANY ANNOUNCEMENT
3 March 2014

PANDORA announces that the Company, as of 3 March 2014, has acquired 100% of
Pan ME A/S, which held the distribution rights to PANDORA jewellery in UAE,
Bahrain, Qatar and Oman. The agreement is subject to certain conditions to be
fulfilled.

The acquisition will grant PANDORA the opportunity to enter the Middle East
markets directly and to add to its retail chain 10 PANDORA Concept stores
located in UAE, which will be operated by PANDORA, as well as 3 distributor
stores in Bahrain, Qatar and Oman. Pan ME A/S generated revenue of DKK 90
million in 2013.

PANDORA intends to establish Dubai as the future hub for the Company's
activities in the Middle East and North Africa.

Allan Leighton, CEO of PANDORA, said: “PANDORA jewellery has been available in
the Middle East since 2010 and the agreement is in line with our strategy to
expand geographically as well as maintaining the control over our brand”.

Peter Mark, President of PANDORA Central Eastern Europe and Middle East, said:
“With the agreement, we get a stronger platform the Middle East, a region which
we believe holds great potential for PANDORA, and we look forward to welcoming
a strong UAE based organisation into the company”.

PANDORA will pay a one-time cash amount of AED 75 million (approximately DKK
110 million) in connection with the acquisition.

FINANCIAL GUIDANCE

The content of this release will have no impact on PANDORA's outlook for 2014,
as latest communicated to the market in in connection with the full year 2013
report on 18 February 2014.

ABOUT PANDORA

PANDORA designs, manufactures and markets hand-finished and modern jewellery
made from genuine materials at affordable prices. PANDORA jewellery is sold in
more than 80 countries on six continents through approximately 10,300 points of
sale, including approximately 1,100 Concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over
8,500 people worldwide of whom 5,900 are located in Gemopolis, Thailand, where
the company manufactures its jewellery. PANDORA is publicly listed on the
NASDAQ OMX Copenhagen stock exchange in Denmark. In 2013, PANDORA’s total
revenue was DKK 9.0 billion (approximately EUR 1.2 billion). For more
information, please visit www.pandoragroup.com.

CONTACT
For more information, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Morten Eismark Jakob Risom Langelund
VP Group Investor Relations Press Officer
Phone: +45 3673 8213 Phone: +45 3673 0634
Mobile: +45 3045 6719 Mobile: +45 6165 6540
Magnus Thorstholm Jensen
Investor Relations Officer
Phone: +45 4323 1739
Mobile: +45 3050 4402