Pandora — Share Issue/Capital Change 2014

May 23, 2014

Pandora A/S has received the following information from Axcel III K/S 1, Axcel
III K/S 2, Axcel III K/S 3, Pewic Holding ApS, Per Algot Enevoldsen and
Christian Algot Enevoldsen.

Danske Bank A/S and Goldman Sachs International have today announced that Axcel
III K/S 1, Axcel III K/S 2, Axcel III K/S 3, Pewic Holding ApS, Per Algot
Enevoldsen and Christian Algot Enevoldsen have sold a total of 13 million
existing shares in PANDORA in an accelerated bookbuilt offering. The shares
have been sold to institutional investors.

PANDORA will not receive any proceeds from the sale.

A copy of the press release from Goldman Sachs International is attached.

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 10,000 points of
sale, including more than 1,100 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 9,000 people worldwide of whom 6,800 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
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