TRANSACTIONS IN CONNECTION WITH SHARE BUYBACK PROGRAMME

On 18 February, PANDORA initiated a share buy-back programme, cf. Company announcement no. 143. 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 2,400 million in the period from 18 February to 31 December 2014. The following transactions have been made under the programme:

With the transactions stated above, PANDORA owns a total of 6,038,374 treasury shares, corresponding to 4.7% of the share capital. ABOUT PANDORA PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 80 countries on six continents through approximately 10,000 points of sale, including more than 1,200 Concept stores. Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 9,000 people worldwide of whom approximately 7,000 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2013, PANDORA’s total revenue was DKK 9.0 billion (approximately EUR 1.2 billion). For more information, please visit www.pandoragroup.com. CONTACT For more information, please contact:

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