April 3, 2018

Transactions in Connection With Share Buyback Programme

On 6 February 2018, PANDORA announced a share buy-back programme, cf. Company announcement no. 432. 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 4,000 million in the period from 14 March 2018 to 13 March 2019.

The following transactions have been made under the programme:

 Number of
Average purchase price, DKKTransaction value, DKK
Accumulated, latest announcement185,995 113,385,610
26 March 201830,000647.6019,428,063
27 March 201813,730645.298,859,822
28 March 201820,000648.2612,965,242
29 March 20180 0
30 March 20180 0
Accumulated under the programme249,725 154,638,737

With the transactions stated above, PANDORA owns a total of 3,132,649 treasury shares, corresponding to 2.8% 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.

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 22.8 billion (approximately EUR 3.0 billion).

For more information, please contact:

Magnus Thorstholm Jensen
Vice President, Head of Investor Relations
+45 7219 5739
Martin Kjærsgaard Nielsen
Global Head of Media Relations
+45 5077 5271

Christian Møller
Investor Relations Officer
+45 7219 5361

PANDORA_Company Announcement_No_442_UK



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