Pandora

Transaction in Own Shares • Jun 20, 2016

On 9 February, PANDORA initiated a share buy-back programme, cf. Company
announcement no. 281. The programme is implemented in accordance with the
provisions of European Commission Regulation no. 2273/2003 of 22 December 2003
(the Safe Harbour Regulation). The purpose of the programme is to reduce
PANDORAs share capital and to meet obligations arising from employee share
option programmes.

Under the programme PANDORA will buy back shares for an amount up to DKK 4,000
million in the period from 9 February to 31 December 2016.

The following transactions have been made under the programme:

                       Number of        Average purchase  Transaction value,
                          shares              price, DKK                 DKK

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Accumulated, latest 2,076,050 1,830,511,716
announcement

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13 June 2016 13,875 922.40 12,798,276

14 June 2016 45,000 907.92 40,856,607

15 June 2016 10,000 925.97 9,259,660

16 June 2016 25,000 913.76 22,844,093

17 June 2016 14,332 921.97 13,213,644

Accumulated under the 2,184,257 1,929,483,996
programme

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With the transactions stated above, PANDORA owns a total of 2,672,947 treasury
shares, corresponding to 2.3% of the Company’s share capital.

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 9,000 points of sale, including more than 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