Pandora

On 7 February 2017, PANDORA initiated a share buy-back programme, cf. Company
announcement no. 350. The share buyback programme is executed in accordance
with Regulation (EU) No 596/2014 of the European Parliament and of the Council
of 16 April 2014 on market abuse (market abuse 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 1,800
million in the period from 7 February 2017 to 6 February 2018.

The following transactions have been made under the programme:

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

Total, latest announcement* 2,553,886 1,711,868,380

18 December 2017 1,500 629.76 944,640

19 December 2017 1,000 638.47 638,470

20 December 2017 1,000 655.50 655,500

21 December 2017 800 654.68 523,744

22 December 2017 1,700 662.40 1,126,080

Total accumulated over week 51 6,000 3,888,434

Total accumulated during the share 2,559,886 1,715,756,814
buyback programme

With the transactions stated above, PANDORA owns a total of 2,884,926 treasury
shares, corresponding to 2.56% of the Company’s share capital.

In accordance with Regulation (EU) No 596/2014, all transactions related to the
share buyback programme are presented in detailed form in the spread sheet
attached to this Company Announcement.

The initial amount of shares bought under the programme as per company
announcement no. 420 was reported as 2,535,886 shares but should have been
reported as 2,548,886 shares. The corresponding initial total transactional
value was reported as DKK 1,700,612,170 but should have been reported as DKK
1,708,716,800. Actual daily number of shares bought in week 50 was 1,000 shares
per day. The daily average purchase prices in the period 11 December to 15
December was DKK 637.36, 631.55, 628.06, 632.07 and 622.54 respectively. The
total accumulated number of shares during the share buyback programme was
reported as 2,548,886 shares, but should have been reported as 2,553,886
shares. The corresponding total transaction value was reported as DKK
1,708,716,800, but should have been reported as DKK 1,711,868,380.

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 around
7,700 points of sale, including more than 2,200 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 22,300 people worldwide of whom around 13,200 are located in Thailand,
where the Company manufactures its jewellery. PANDORA is publicly listed on the
Nasdaq Copenhagen stock exchange in Denmark. In 2016, PANDORA's total revenue
was DKK 20.3 billion (approximately EUR 2.7 billion).

CONTACT
For more information, please contact:

INVESTOR RELATIONS MEDIA RELATIONS
Magnus Thorstholm Jensen Martin Kjærsgaard Nielsen
Vice President, Head of Investor Relations Global Head of Media Relations
+45 7219 5739 +45 50 77 52 71
[email protected] [email protected]
Brian Granberg
Investor Relations Officer
+45 7219 5344
[email protected]

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