Pandora — Major Shareholding Notification 2013

Nov 15, 2013

In accordance with Section 29 of the Danish Securities Trading Act, cf. the
Danish Executive Order no. 668 of 25 June 2012 on major shareholders, the
following is hereby announced:

Pandora A/S has received the following information from Axcel III K/S 1, Axcel
III K/S 2, Axcel III K/S 3 and Axcel Management A/S.

Axcel III K/S 2 directly owns 10,678,891 shares of nominally DKK 1 (in total
nominally DKK 10,678,891) in PANDORA A/S ("PANDORA"), corresponding to
approximately 8.21 % of the total share capital and 8.21 % of the total voting
rights.

Axcel III K/S 1 directly owns 7,431,565 shares of nominally DKK 1 (in total
nominally DKK 7,431,565) in PANDORA, corresponding to approximately 5.71 % of
the total share capital and 5.71 % of the total voting rights.

Axcel III K/S 3 directly owns 4,756,280 shares of nominally DKK 1 (in total
nominally DKK 4,756,280) in PANDORA, corresponding to approximately 3.65 % of
the total share capital and 3.65 % of the total voting rights.

Axcel Management A/S acts as a management company for Axcel III K/S 1 and Axcel
III K/S 2 and by virtue hereof exercises the controlling interest on the latter
two companies' PANDORA shares. Furtermore, it is stated that Axcel Management
A/S excercises a controlling influence on Axcel III K/S 3's PANDORA shares.
Axcel Management A/S thus exercises a controlling interest over 22,866,736
shares of nominally DKK 1 (in total nominally DKK 22,866,736) in PANDORA,
corresponding to approximately 17.57 % of the total share capital and 17.57 %
of the total voting rights.

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 70 countries on six continents through approximately 10,300 points of
sale, including approximately 1,000 Concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over
7,300 people worldwide of whom 5,200 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 2012, PANDORA’s total
revenue was DKK 6.7 billion (approximately EUR 900 million). For more
information, please visit www.pandoragroup.com.

CONTACT
For further queries, please contact:

INVESTOR RELATIONS

Morten Eismark
VP Group Investor Relations
Phone +45 3673 8213
Mobile +45 3045 6719

Magnus Thorstholm Jensen
Investor Relations Officer
Phone +45 4323 1739
Mobile +45 3050 4402

MEDIA RELATIONS

Jakob Risom Langelund
Press Officer
Phone +45 3673 0634
Mobile +45 6165 6540