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 of shares	Average purchase price, DKK	Transaction value, DKK
Total, latest announcement	1,542,886		1,088,549,590
28 August 2017	12,000	658.51	7,902,120
29 August 2017	15,000	648.73	9,730,950
30 August 2017	17,000	652.61	11,094,370
31 August 2017	13,000	656.35	8,532,550
1 September 2017	10,000	669.98	6,699,800
Total accumulated over week 35	67,000		43,959,790
Total accumulated during the share buyback programme	1,609,886		1,132,509,380

With the transactions stated above, PANDORA owns a total of 1,934,926 treasury shares, corresponding to 1.72% 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 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                             Magnus Thorstholm Jensen Vice President, Head of Investor Relations +45 7219 5739 mtje@pandora.net	MEDIA RELATIONS Martin Kjærsgaard Nielsen Global Head of Media Relations +45 50 77 52 71 mnie@pandora.net
Brian Granberg Investor Relations Officer +45 7219 5344 brgr@pandora.net