Pandora — Major Shareholding Notification 2012

Mar 5, 2012

No. 56
COMPANY ANNOUNCEMENT
5 March 2012

PANDORA A/S has received the following announcement from RS Family ApS;

On 2 March 2012 Prometheus Invest ApS sold 5,261,057 Pandora shares to RS
Family ApS in connection with repurchase of own shares from RS Family ApS.

As part of the transaction RS Family ApS and Prometheus Invest ApS exchange
5,261,057 Pandora shares against 5,625,000 shares in Prometheus Invest ApS.

RS Family ApS' ownership in PANDORA A/S has after the completion of the
transaction changed from indirect ownership to direct ownership. RS Family ApS'
intentions in respect of the ownership in PANDORA A/S remain the same.

RS Family ApS is indirectly controlled by René Sindlev. René Sindlev also
controls RS Arving ApS, which as of 2 March 2012 owns 0.23% of the voting
rights and share capital in PANDORA A/S, and RS Holding ApS, which as of 2
March 2012 owns 0.76% of the voting rights and share capital in PANDORA A/S.

It should be noted that on 7 September 2011 René Sindlev issued a major
shareholders announcement stating that René Sindlev's indirect ownership in
PANDORA A/S was at least 5%. René Sindlev has subsequently become aware that
non-controlled ownerships should not be included, cf. the Executive Order on
Major Shareholders. Thus René Sindlev should not have issued the major
share-holders announcement as his ownership at that time was less than 5%.

For the purpose of issuing a correct major shareholders announcement and
correcting the previous major shareholders announcement, it is hereby announced
that René Sindlev's direct ownership is 0% of the voting rights and share
capital in PANDORA A/S and that René Sindlev indirect ownership through
controlled companies is 5.03% of the voting rights and share capital in PANDORA
A/S.

René Sindlev owns his shareholding in PANDORA A/S indirectly through RS Family
ApS, RS Holding ApS and RS Arving ApS.

Name of the reporting person René Sindlev

Reporting reason Major shareholder's announcement

Name of issuing company PANDORA A/S

Security code DK0060252690

Nature of transaction Exchange (Sale of shares)

Type of security Shares

Trading market OTC

Trading date 2 March 2012

Situation at the latest announcement Less than 5%

Situation after transaction: Total number of shares 6,545,500
Information regarding voting rights Total part of voting rights is 5.03%
Information regarding share capital Direct: Number of shares 0
Part of voting rights 0%
Indirect: Number of shares
6,545,500
Part of voting rights 5.03%
Total number of shares 6,545,500
Total part of share capital 5.03%
Direct: Number of shares 0
Part of share capital 0%
Indirect: Number of shares
6,545,500
Part of share capital 5.03%

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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 65 countries on six continents through over 10,500 points of sale,
including more than 670 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over
5,300 people worldwide of whom 3,600 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 2011, PANDORA’s total
revenue was DKK 6.7 billion (approximately EUR 893 million). For more
information, please visit www.pandoragroup.com

CONTACT
For further queries, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Morten Eismark, VP Group Investor Kasper Riis, VP Group Communications
Relations Phone +45 3673 0627
Phone +45 3673 8213 Mobile +45 3035 6728
Mobile +45 3045 6719