Transactions in Connection With Share Buyback Programme

On 13 March 2019, Pandora announced a share buy-back programme, cf. Company announcement no. 507. 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 employee share option programmes.

Under the programme Pandora will buy back shares for an amount up to DKK 2.2 billion in the period from 14 March 2019 to 19 March 2020 at latest.

The following transactions have been made under the programme:

	Number of shares	Average purchase price, DKK	Transaction value,  DKK
Accumulated, latest  announcement	7,131,036		1,956,811,948
27 January 2020	23,000	360.87	8,299,973
28 January 2020	25,000	354.03	8,850,718
29 January 2020	23,000	359.86	8,276,890
30 January 2020	25,000	357.07	8,926,848
31 January 2020	25,000	352.13	8,803,195
Accumulated under the programme	7,252,036		1,999,969,572

With the transactions stated above, Pandora owns a total of 7,676,924 treasury shares, corresponding to 7.68% 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.

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 more than 7,500 points of sale, including more than 2,700 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, Pandora employs more than 26,000 people worldwide of whom more than 11,500 are located in Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the Nasdaq Copenhagen stock exchange in Denmark. In 2018, Pandora’s total revenue was DKK 22.8 billion (approximately EUR 3.1 billion).

CONTACT
For more information, please contact:

INVESTOR RELATIONS Michael Bjergby VP, Investor Relations, Tax & Treasury [phone] [e-mail]	CORPORATE COMMUNICATIONS Johan Melchior Director External Relations [phone] [e-mail]
Christian Møller Investor Relations Officer [phone] [e-mail]

Attachments

• Pandora_Company Announcement_No_577_UK
• Appendix_Company_Announcement_No_577
• Appendix_Company_Announcement_No_577