Pandora — Major Shareholding Notification 2014

Mar 14, 2014

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 (‘PANDORA’) 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 6,060,958 shares of nominally DKK 1 (in total
nominally DKK 6,060,958) in PANDORA, corresponding to approximately 4.7% of the
total share capital and 4.7% of the total voting rights.

Axcel III K/S 1 directly owns 4,217,889 shares of nominally DKK 1 (in total
nominally DKK 4,217,889) in PANDORA, corresponding to approximately 3.2% of the
total share capital and 3.2% of the total voting rights.

Axcel III K/S 3 directly owns 2,699,494 shares of nominally DKK 1 (in total
nominally DKK 2,699,494) in PANDORA, corresponding to approximately 2.1% of the
total share capital and 2.1% of the total voting rights.

Axcel Management A/S acts as a management company for Axcel III K/S 1, Axcel
III 2 and Axcel III K/S 3 and by virtue hereof exercises the controlling
interest on the three companies' PANDORA shares. Axcel Management A/S thus
exercises a controlling interest over 12,978,341 shares of nominally DKK 1 (in
total nominally DKK 12,978,341) in PANDORA, corresponding to approximately
10.0% of the total share capital and 10.0% 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 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 further queries, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Morten Raunholt 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