Pandora — Share Issue/Capital Change 2016

Apr 15, 2016

At PANDORA’s Annual General Meeting on 16 March 2016, it was decided to reduce
the Company’s share capital with a nominal amount of DKK 5,240,348 by
cancellation of 5,240,348 treasury shares of DKK 1.

The share capital decrease has been announced in the Danish Business
Authority's it-system on 17 March 2016 and the 4-week notification period has
expired with no objections.

Pursuant to section 193(1) of the Danish Companies Act, the Board of Directors
has therefore resolved to register the share capital reduction as finalised
with the Danish Business Authority, which has been made today. After reduction
of the share capital, the Company’s share capital is nominally DKK 117,056,821,
divided into shares of DKK 1 or any multiple thereof.

ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and contemporary
jewellery made from high-quality materials at affordable prices. PANDORA
jewellery is sold in more than 100 countries on six continents through
approximately 9,300 points of sale, including around 1,800 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 16,700 people worldwide of whom approximately 11,000 are located in
Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is
publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2015,
PANDORA’s total revenue was DKK 16.7 billion (approximately EUR 2.2 billion).

CONTACT
For more information, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Morten Raunholt Eismark Kristian Lysgaard
VP Group Investor Relations Director, Group Communications
Phone +45 3673 8213 Phone +45 4323 1774
Mobile +45 3045 6719 Mobile +45 2556 8561
Magnus Thorstholm Jensen
Senior Investor Relations Officer
Phone +45 4323 1739
Mobile +45 3050 4402