Pandora

Transaction in Own Shares • May 2, 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 1,274,675 1,067,638,408
announcement

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25 April 2016 3,356 815.94 2,738,286

26 April 2016 6,279 841.38 5,283,033

27 April 2016 1,250 847.80 1,059,750

28 April 2016 10,747 840.54 9,033,236

29 April 2016 25,339 841.54 21,323,815

Accumulated under the 1,321,646 1,107,076,527
programme

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With the transactions stated above, PANDORA owns a total of 1,810,336 treasury
shares, corresponding to 1.5% 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 9,300 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