Transactions in connection with share buyback programme

On 21 June 2023, Pandora announced a new share buyback programme, cf. Company announcement no. 796. 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 Pandora’s share capital and to meet obligations arising from company incentive programmes.

Under the programme Pandora will repurchase shares for an aggregate maximum amount of DKK 2.6 billion from 21 June until 2 February 2024 at the latest, both days inclusive. The first tranche of up to DKK 1.6 billion commenced on 21 June 2023 and will complete no later than 13 October 2023. The second tranche to reach the total amount of up to DKK 5.0 billion will commence upon conclusion of the first tranche and complete no later than 2 February 2024.

The programme follows the successful conclusion of Pandora’s DKK 2.4 billion share buy-back programme, which ended on 19 June 2023 (see Company Announcement No. 769).

The following transactions have been made under the programmes:

	Number of shares	Average purchase price, DKK	Transaction value,     DKK
Accumulated under the programme	6,033,582		3,807,972,019
25 September 2023	21,260	712.27	15,142,795
26 September 2023	28,000	711.09	19,910,633
27 September 2023	27,150	715.06	19,413,935
28 September 2023	21,500	726.50	15,619,699
29 September 2023	28,700	736.77	21,145,242
Accumulated under the programme	6,160,192		3,899,204,323

With the transactions stated above, Pandora owns a total of 5,956,885 treasury shares, corresponding to 6.7% of the Company’s share capital.