Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2022-12-31 | 22013000000 | dkk |
| ifrs-full:Assets | 2021-12-31 | 18542000000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 26463000000 | dkk |
| ifrs-full:Revenue | 2021-01-01 | 2021-12-31 | 23394000000 | dkk |
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In A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ugust,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> our ne<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>w emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>yer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> brand,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Craft the Incredible,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> came to lif<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e to express <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>what it means t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o work<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> at Pandor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>a and to attract external talent to our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> teams around the world.Fiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e integr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ated people and sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> priorities as part of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> PhoenixLev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eraging syner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>gies across a combined people and sustainability ag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>enda, our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> work is f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ocused on five k<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ey<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> areas underpinned by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> an advanced digital platf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>orm.Innov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ativ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e &amp; agile organisationW<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>orld-class Sustainability <span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/> talentleaderDigital platf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormHealthy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Empow<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ering performance &amp; tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ansf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormational <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws1"> </span>cultureleadershipThrough activa<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ting this campaign,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Pandora has been able <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to attract highly skilled <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>talent from leading brands and across other<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> industries. Our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> new employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>er br<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>and was in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tegral t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o at-tracting around 1,100 office colleag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ues in 2022 and the hiring of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> more <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>than 4,500 retail colleagues f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or our peak<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ading period in the f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ourth quarter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.Health<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormance cultur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ePandoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s purpose, W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>e give a voice <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to peopleâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s loves,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> paired with our f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>our core v<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>alues â W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e Care, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e Dream, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Dare,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e Deliver â set a shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed direction f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or our <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>work.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Business <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>results are important,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> but just as important is how w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e get there.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>And part of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> this is building a <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>workplace <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>where employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ees<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> thrive and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>eel compelled to recommend it to o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>thers. <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>For<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> example,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> we have se<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t an Employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ee Net Promoter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Score (<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eNPS),<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> a measure of emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>yee sentimen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t and engagemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>as a core indicator<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> for <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. In 2022,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> the eNPS was 58,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> an increase of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> 20 compared to 2021, and in <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>the top 5% of <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>Pandoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s benchmark in the consumer sect<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>.Building an amazing company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> where <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>we can achie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ve incred-ible things also means nurturing a culture <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>where <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>we can be ourselves.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>wice yearly<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ees are ask<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ed to provide feedback<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> on their inclusion and diversity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> experience a<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t Pandora.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> In 2022,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Pandora had an inclusion scor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 86%,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> in the top quartile o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andora'<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s ben<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>chm<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ark<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> in the consumer sector<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e believe <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>that inclusion,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> diversity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>airness are core t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>enets of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> a responsible growing business, and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>they<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> are ke<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> strategic sustainability priorities.Empow<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ering <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>and transf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ormational <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws1"> </span>leadershipDriving transf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ormational and courageous leadership that can inspire and empower<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> colleagues is a top priority<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. In 2022,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ees scored Leadership E<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ectiveness at 8.3,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> which is a significant increase compared <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to 7.9 in 2021.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> This has led to an increase in employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ee engag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>erall. In line with our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> diversity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and inclusion targ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>et,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> we increased the ra<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tio of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om-en in the L<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eadership T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/>eam from 23% in 2021 to 29% in 2022.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> A g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ood improvement,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> which underlines our commitment t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o make P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andora an ev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>en more equitable and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>air<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> workplace.3,900<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6b"> </span>&gt;350leaders to enr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ol in top leaders hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e our Global L<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eadership been trained on our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Programme,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Pandora talent approachRISE, o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ver the coming two yearsT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>o heighten and globalise our leadership standards,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> we launched our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> first global leadership dev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>elopment programme,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> RISE, in 2022. P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andora RISE guides and inspires people leaders on how <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to dev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>elop,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> coach and enable perfor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-mance for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> their <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>team members.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> It is important that leaders at Pandora f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>eel empowered to cr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eate <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the best conditions for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> our employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ees and enable the realisa<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tion of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Phoenix<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> strategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>The programme will be rolled out <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to 3,900 leaders ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>er <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the next <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>two <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>years.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> In addition, more than 350 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>top leaders are continually<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> trained on our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> talent approach to ensure solid leadership gro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>wth and succession f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the years to come.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Our e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>orts to cr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eate a w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>orld-class workplace ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e under<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-pinned by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> continuous inv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>estments in a global digital infra-structure that supports and empo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>wers our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ees.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> In 2022, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>we r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>olled out sever<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>al new componen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ts in the areas o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> learning, perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ormance management and recruitment,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> with more t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ollow in 2023.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> With investmen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ts made in 2022, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>we will fully digitise our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> core people pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ocesses and start wider<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> utilisation of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> data thr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ough our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> enhanced analytics capabili-ties. Our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> digital platform serves as our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> foundation to deliv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>er on each of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> our people and sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> priorities.Sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>eport 2022 Read mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e about Pandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s reporting <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ask Force on Climate-R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>elated Financial Disclosures and EU tax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>onomy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> disclosures in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Sustainability R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eport 2022.Sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> leaderAs the global leader<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> in aff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ordable je<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>wellery<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e believ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e that we hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e a responsibility<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ethink ho<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>w jew<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ellery is designed and produced with <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the planet and its people in mind.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Theref<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ore, sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> is one of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> five f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>oundational elements of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Pandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>âs Phoenix<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> strategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, contributing <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>to long-term growth ambitions and aligning actions <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>with v<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>alues.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Placing sustainability at <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the core of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> our business is a natural path for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> us to tak<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e as a responsible global brand and a means o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f future-proo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>fing our compan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>.Our sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> strategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> has three priorities: low-carbon business,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> circular innov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation and inclusiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e, diverse and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>air<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> culture.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>e have set long<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-term <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>targ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ets and developed de<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tailed roadmaps f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or each of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> these priorities.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Read mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e about our sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> targets on <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the follo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>wing page.<span xmlns="http://www.w3.org/1999/xhtml" class="ff8"> </span>Additionally<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> sustainability str<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ategy is a commitmen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t to responsible business operations and adhering <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to local regulation and int<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ernational guidelines.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>o deliver on our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> ambition and tar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>gets,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> in 2022 we continued to expand <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the number o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> people dedicated t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o this <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>work <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>with teams at our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Global Office in Denmark, in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> crafting and supply activities in <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Thailand and in other strategic locations.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e are proud that our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> efforts are no<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ted,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and in 2022 we <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>wer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e one of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> a small number o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> global companies to achie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ve an â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> score fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om the leading climate or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ganisation,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> CDP<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/>, f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> our climate action.INCLUSIVE,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> DIVERSE AND F<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>AIR CUL<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>TUREB<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Y 2025<span xmlns="http://www.w3.org/1999/xhtml" class="ff5"> â Cr<span class="_ _2"/>eate an inclusive </span>workplace and increase <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>the share of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> underrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esented gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oups.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> B<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Y 2030<span xmlns="http://www.w3.org/1999/xhtml" class="ff5"> â <span class="_ _2"/>Achieve full gender<span class="_ _0"/> </span>1parity, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>eaching 1/3 women in leadership by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2025.B<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Y 2025<span xmlns="http://www.w3.org/1999/xhtml" class="ff5"> â R<span class="_ _0"/>eflect societal diver<span class="_ _0"/>sity </span>in our customer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> engagement.INCLUSIONâ<span xmlns="http://www.w3.org/1999/xhtml" class="fc0"> </span>286%85%20<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>2120222025W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e achieved an inclusion scor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e of 86% in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> latest employee surv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ey<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>The r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esulting score r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>anks us in the top quartile within our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> global benchmark, and has us on track f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 85% targ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>et by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2025.W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>OMEN IN LEADERSHIP23%29%33%50%20<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>21202220252030W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e made good pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ogress in 2022 b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y impro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ving gender<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> parity in leadership by 6 per<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>centage points to 29%.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6e"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e have achie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ved our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> inclusion scor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e targ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>et,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> so our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ocus will be on maintaining and impr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>oving our scor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> For<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> example,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> we are analysing surv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ey<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> data to ha<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ve a better<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> understanding of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> how<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> we can best support underrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esented gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oups.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6e"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls34">W<span class="_ _0"/>e have de<span class="_ _0"/>veloped and designed an additional learning </span>module to addr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ess the importance o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f inclusiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e leader<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>ship.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> We ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e working to integr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ate the module as part o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f our global leadership pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ogramme, Pandor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>a RISE. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6e"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls1c">W<span class="_ _0"/>e will be r<span class="_ _2"/>eviewing inclusion within our r<span class="_ _2"/>ecruitment </span>process and succ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ession planning to ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e a sustaina<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>ble approach <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>towar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ds achieving g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ender parity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws1"> <span class="_ _5"/>We <span class="_ _0"/>will continue <span class="_ _0"/>to build guidelines and reporting <span class="ls0"> </span></span>systems <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to track<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ogress on our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> customer engage<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>ment targe<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ts.OUR SUST<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>AINABILITY T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>AR<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>GETS LOW<span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws1">-<span class="ls16 ws26">CARBON<span class="_ _0"/> </span></span>BUSINESSB<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Y 2030 <span xmlns="http://www.w3.org/1999/xhtml" class="ff5">â <span class="ls1c ws5a">R<span class="_ _0"/>educe total greenhouse </span></span>gas emissions by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 50% from a 2019 baseline (Scopes 1,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2 and 3) by:- <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>Reducing emissions in own oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>ations by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> at least 90% to bec<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ome carbon neutral (Scopes 1 and 2 market<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-based).- <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>Reducing <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>value chain emissions by 42% (Sc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ope 3).B<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Y 2040<span xmlns="http://www.w3.org/1999/xhtml" class="ff5"> â <span class="_ _2"/>Achieve net zer<span class="_ _0"/>o </span>emissions.PR<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>OGRESS AND ST<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>TUS<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6c"> </span>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e have decr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eased our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> to<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tal greenhouse g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>as emissions by 6% c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ompared <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2019 baseline.In 2022, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>we r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>educed emissions fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om own operations by 27% c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ompared <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to 2021.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>This w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>as achieved primarily<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> through <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the purchase o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>enewable Ener<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>gy Certifica<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tes to cover<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> most of our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> owned and operated st<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ores and offices in Eur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ope and 100% of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> electricity consumption at our cr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>afting facilities in <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Thailand.In 2022, our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Scope 3 emissions increased by 4% sinc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e 2021, lar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>gely<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> due to a higher<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> level of pur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>chased goods and services.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e saw reductions in other<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> areas thanks to increased supplier<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>-specific data. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>The overall Scope 3 increase <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>was expected and r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>eductions will materialise in the coming years.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6e"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>Scopes 1 and 2: W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e will continue <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the geographic roll-out of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> purchasing Renewable Ener<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>gy C<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ertificates to cover<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> more markets in <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the short t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>erm, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>while also exploring other<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> opportunities t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o source r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>enewable energy (f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or example<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Power<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Purchase Agr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eements)<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6f"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="fs0 ws22"> Scope <span class="_ _1b"> </span>3:<span class="ff4 ws1"> <span class="ff5">In 2023 and beyond,<span class="_ _0"/> we <span class="_ _2"/>will continue the </span></span></span>development and implemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tation of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> supplier engagement pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ogramme and scale our outreach <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to suppliers on collection of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> carbon f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ootprint data and dialogue on carbon reduction initiativ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es.1 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1c"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>Gender parity in leadership re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>fer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s to an equal number<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> (50/50) of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> men and women in leadership positions fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om Vice Pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esident and up (including the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d) with a +/- 5 per<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>centage points <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>variation.2 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1c"> </span>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e use <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>' to indica<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>te that data f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or the data point has not pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eviously<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> been disclosed.3 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1c"> </span>Read mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e to our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> commitment and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>targets <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to the United Na<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tionsâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Sustainable Development Goals in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Sustainability Report 2022.CIRCULAR<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws1"> </span>INNO<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>V<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>TIONB<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Y 2025<span xmlns="http://www.w3.org/1999/xhtml" class="ff5"> â U<span class="_ _0"/>se only r<span class="_ _0"/>ecycled silver<span class="_ _2"/> </span>and gold in the cr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>afting of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> jewellery<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>.The share o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ecycled silver and gold pur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>chased in 2022 was 61%.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Over the cour<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>se of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2022,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> we <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>transi-tioned procur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed silver<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> and gold for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> in-house pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oduc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-tion to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecycled sour<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ces,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and we c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ompleted thir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>d-party audits f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or most o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> our componen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t suppliers and contract manuf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>acturers <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>to strengthen end-to-end traceability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _6e"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>In 2023,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> we <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>will f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ocus on tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ansitioning our component and contract manuf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>acturers and suppliers to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecycled sour<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ces, expanding our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> options f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ecycled sources,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and begin phasing out any<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> non-recy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>cled stock in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> inventory<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>.</mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-1" id="pp-value-15-2" xml:lang="en">INCLUSIVE, DIVERSE AND FAIR CULTUREBY 2025 â Create an inclusive workplace and increase the share of underrepresented groups. BY 2030 â Achieve full gender 1parity, reaching 1/3 women in leadership by 2025.BY 2025 â Reflect societal diversity in our customer engagement.INCLUSIONâ 286%85%202120222025We achieved an inclusion score of 86% in our latest employee survey. The resulting score ranks us in the top quartile within our global benchmark, and has us on track for our 85% target by 2025.WOMEN IN LEADERSHIP23%29%33%50%2021202220252030We made good progress in 2022 by improving gender parity in leadership by 6 percentage points to 29%. ⢠We have achieved our inclusion score target, so our focus will be on maintaining and improving our score. For example, we are analysing survey data to have a better understanding of how we can best support underrepresented groups. ⢠We have developed and designed an additional learning module to address the importance of inclusive leader-ship. We are working to integrate the module as part of our global leadership programme, Pandora RISE. ⢠We will be reviewing inclusion within our recruitment process and succession planning to ensure a sustaina-ble approach towards achieving gender parity. ⢠We will continue to build guidelines and reporting systems to track progress on our customer engage-ment targets.</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:CorporateGovernanceReport contextRef="ctx-1" id="pp-value-33-1" xml:lang="en">Leadership structur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eCorporate authority<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> is divided between <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Board of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Directors (the Board) and Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ecutive Management.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>The Board outlines the ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>erall vision,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> strategy and objectives o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Pandoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>business activities and supervises the perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ormance of <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t.The Board has established <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Audit,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>emuneration and Nomina<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>tion Committees,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and members and Chairs to <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>these commit<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>tees are appointed fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om within <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Board.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> The committeesâ terms of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> ref<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>erence are av<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ailable at <span xmlns="http://www.w3.org/1999/xhtml" class="ws23">pandoragroup<span class="_ _0"/>.com<span class="ls14 ws24">. </span></span>Members of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement are appoint<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Board.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement is responsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or the day<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-to-day manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ement and for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>xecution o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s strategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. In addition, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Group has an Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ecutive Leadership <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>eam. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>The team members are responsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or the da<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y-<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>to-day operations of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> their<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> respectiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e business areas and also serv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e as a part of Pandoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s overall leadership.CORPORA<span xmlns="http://www.w3.org/1999/xhtml" class="_ _69"/>TE<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws1"> </span>GO<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>VERNANCEBoard o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> DirectorsCompositionThe Board currently<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> has seven members, all o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> whom w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ere elected at the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Annual General Meeting for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> a term of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> one year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>With the ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ception of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Christian Frigast, all Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d members are independent in <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the conte<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>xt of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Danish Recommendations on Corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ate Gov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ernance. A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>t the time of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> his reelection t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o the Board in Mar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ch 2022,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Christian Frigast could still be considered as independent.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> However<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>, since August 2022 Christian Frig<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ast has been a member o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Board f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> more than 12 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>years and can no longer be r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>egarded as an independent Board member<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> in the con<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>text o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Danish Recommendations on Corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ate Gov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ernance.The composition of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d is intended t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o ensure complementary compe<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tencies and diversity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ectively<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> support Pandoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s strategy and ensure <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>that all decisions are well considered.Our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>v<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ernance structur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e The Board supervises Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ementâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s work and is r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esponsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s general and strategic direction.Annual General MeetingBoard of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> DirectorsExecutiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e ManagementExecutiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Leadership T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>eamClusters A connect<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3 ws44">North America</span></span>organisation <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3 ws44">Latin America</span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3 ws44">Pacific/<span class="_ _2"/>Greater<span class="_ _0"/> Asia</span></span>Fast e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>x<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecution and collaboration across <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3">W<span class="_ _2"/>estern Europe</span></span>clusters and global <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3">Gr<span class="_ _0"/>eater<span class="_ _0"/> China</span></span>functions. The nine <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3">Southern Eur<span class="_ _0"/>ope &amp; ME<span class="_ _0"/>A</span></span>clusters report to the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3">Eastern E<span class="_ _0"/>urope </span></span>Chief Commer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>cial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3">Northern E<span class="_ _0"/>urope</span></span>Officer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _7d"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_"> </span><span class="ff3">British Isles</span></span>MEETINGS <span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws1"> </span>IN <span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws1">2022</span>9Board of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Directors6Audit Committe5Remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation Committee3Nomination CommitteeBoard e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>valua<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tionEach y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Board conducts an internal self<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>-evaluation focusing on <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>the effectiveness and skills o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>the Board. The ideal mix of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> skills and experience required of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Board members includes:⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Board experience <span class="_ _7e"> </span></span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Executiv<span class="_ _0"/>e managemen<span class="_ _0"/>t</span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Sectoral experience <span class="_ _30"> </span></span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Digitalisation</span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Sustainability <span class="_ _7f"> </span></span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Re<span class="_ _0"/>tail</span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Marke<span class="_ _0"/>ting and brand <span class="_ _d"> </span><span class="ff4">⢠</span>Finance</span>An external assessment o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Boardâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s skills and effective-ness is conducted ev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ery <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>three <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>years <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to ensure objectivity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and benchmarking.In 2022, an in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ternal Board eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ectiveness self<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-evaluation w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>as conducted across sev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>en areas: value creation and str<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, Board agenda and mee<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tings (including committees<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>),<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> talent and culture,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Board composition,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Board membersâ contribu-tions, Chair'<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ectiveness, and reporting/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>risk managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t. The conclusions are shared <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>with the Chair<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>, the Board mem-bers and Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t, f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ollowed by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> a thor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ough discussion.The assessment of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the last self<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>-evaluation held in 2022 identified that <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Board continues <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to consist of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> individuals who possess relev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ant skills and e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>xperience, and ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e engag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed and well-pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>epared.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>The Board structur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e and committee work<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> are eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ective and well-<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>functioning,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> including interactions <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>with Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t. Board activities in 2022The Board held nine meetings in 2022.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Its primary focus <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>was to ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ersee the e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>x<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutional progress o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s Phoenix strategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ollowing its announcement at P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s Capital Marke<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ts Day<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> on 14 September<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2021.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Furthermore,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> the Board spent time on sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and compliance matters as <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>well as risk manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement.Audit CommitteeThe A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>udit Committee currently<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> has four members,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> appointed f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> a one-y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> term.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> The <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Audit Committee<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s responsibilities include assisting the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d in monitoring the eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ectiveness o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the internal contr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ol and risk manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement systems and r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eviewing P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s financial reporting and audit process.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>The <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Audit Committee conducts its w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ork according t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o its T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/>erms of R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ef<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>erence.In 2022, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Audit Committee met six<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> times.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Its main activities were to: <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">re<span class="_ _0"/>view k<span class="_ _2"/>ey accounting principles,<span class="_ _0"/> significant accounting </span></span>estimates,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> ke<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> financial risks and compliance with <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tax regulations; <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">monitor<span class="_ _0"/> the e<span class="_ _0"/>xternal financial reporting pr<span class="_ _0"/>ocess;</span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">monitor<span class="_ _0"/> the e<span class="_ _0"/>ff<span class="_ _0"/>ectiveness of<span class="_ _2"/> Pandoraâs in<span class="_ _0"/>ternal control </span></span>and risk manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement syst<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ems, including in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ternal audit; <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">monitor<span class="_ _0"/> the e<span class="_ _0"/>xternal auditors and <span class="_ _0"/>their independence;</span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">re<span class="_ _0"/>view P<span class="_ _0"/>andoraâ<span class="_ _2"/>s whistleblowing reporting syst<span class="_ _0"/>em and </span></span>whistleblowing cases; <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">re<span class="_ _0"/>view P<span class="_ _0"/>andoraâ<span class="_ _2"/>s treasury policy;</span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">re<span class="_ _0"/>view P<span class="_ _0"/>andoraâ<span class="_ _2"/>s tax policy<span class="_ _2"/>.</span></span>Independent auditor<span xmlns="http://www.w3.org/1999/xhtml" class="fsd"> </span>Pandoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s independent auditors are appointed f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> a term o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f one y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ear a<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Annual General Meeting follo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>wing a proposal from the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> which is based on a recommenda<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tion from the A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>udit Committee.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>The framework<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> for <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the auditorsâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> duties,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> including their<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> remuneration,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> audit and non-audit services, is agreed annually be<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tween <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Board and the audit<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ors f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ollow-ing the recommendation o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Audit Committee.BO<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ARD MEMBERS<span xmlns="http://www.w3.org/1999/xhtml" class="_ _82"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff5 ls0 ws1">Board meetings a<span class="_ _0"/>ttended</span>1Peter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> A. Ruzicka2Christian FrigastHeine Dalsgaar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>dBirgitta Stymne GöranssonMarianne Kirkeg<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>aardCatherine SpindlerJan Zijderveld 1 Chair 2 Deputy Chair Meeting attended <span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span> Mee<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ting not attendedA<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>UDIT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> COMMITTEE <span xmlns="http://www.w3.org/1999/xhtml" class="_ _81"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff5 ls0 ws1">Committee meetings att<span class="_ _0"/>ended</span>1Heine Dalsgaar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>dBirgitta Stymne GöranssonCatherine SpindlerJan Zijderveld 1 Chair Meeting attended <span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span> Mee<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ting not attendedPandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s Global Data Ethics P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>olicy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. section 99(<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>d) of <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Danish Financial Statements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Act, av<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ailable at <span xmlns="http://www.w3.org/1999/xhtml" class="ws4a">pandoragroup<span class="_ _0"/>.</span>com/invest<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>corporate-g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>overnance/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>data-ethics<span xmlns="http://www.w3.org/1999/xhtml" class="ls49 ws4d">, <span class="ls0 ws1"> </span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="ws23"> is </span>built on our car<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e and respect f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or consumer and emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>yee privacy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e apply equality and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>airness in our processing of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> data,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> we r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>espect the person behind <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the data,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and we f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ocus on sustainable data practices.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Pandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s full sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> disclosure,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. section 99(<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>a)<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, 99(b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>) and 107(<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d) of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Danish Financial Stat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Act,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> is available in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Sustainability Report 2022 at <span xmlns="http://www.w3.org/1999/xhtml" class="ws4a">pandoragr<span class="_ _0"/>oup.</span>com/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>sustainability/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>resources/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>sustainability-reports<span xmlns="http://www.w3.org/1999/xhtml" class="ls49 ws24">. </span>REMUNERA<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>TION COMMITTEE<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff5 ls0 ws1">Committee meeting<span class="_ _0"/>s attended</span>1Peter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> A. RuzickaChristian FrigastJan Zijderveld1 Chair Meeting attendedNOMINA<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>TION COMMITTEE<span xmlns="http://www.w3.org/1999/xhtml" class="_ _53"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff5 ls0 ws1">Committee mee<span class="_ _0"/>tings attended</span>1Christian FrigastBirgitta Stymne GöranssonMarianne Kirkeg<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>aardPeter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> A. Ruzicka1 Chair Meeting attendedR<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>emunera<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tion CommitteeThe Remunera<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tion Committee currently<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> has three members, appointed f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> a one-y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> term.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> The Remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation Committee assists the Board in ensuring <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>that Pandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s remuneration<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>policies strike an appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>opriate balance betw<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>een the <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>interests o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>andoraâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>s shareholders and a rewarding and<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> motivating r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>emuneration o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ecutive Management andsenior emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>yees.In 2022, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>emuneration Committee met fiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e times. Its main activities are described in the R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>emuneration Report available at our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> website: <span xmlns="http://www.w3.org/1999/xhtml" class="ws4a">pandoragroup<span class="_ _0"/>.com/in<span class="_ _0"/>vest<span class="_ _0"/>or<span class="_ _2"/>/<span class="_ _0"/>cor<span class="_ _2"/><span class="ls0 ws1">-</span></span>porate-g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ernance/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>remuneration-reports<span xmlns="http://www.w3.org/1999/xhtml" class="ls49 ws4d">. <span class="ls0 ws1"> </span></span>Nomination CommitteeThe Nomination Committee curren<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tly has f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>our members, appointed f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> a one-y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> term.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> The Nomination Commit-tee work<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s according <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to its <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>erms of R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ef<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>erence and its main responsibilities are assessment and e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>valua<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tion of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d and Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t, including perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ormance, skills and experience,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> and nomination of candidates <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d and Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t. F<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>urther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the committee monitors talent and succession policy and ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es compliance when making Board,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement and Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive L<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ead-ership T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/>eam appointments. Finally<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, it deals <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>with succession planning for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Executive Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement positions and re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>views as well as monitors div<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ersity policy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> to ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e compliance.In 2022, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Nomination Committee me<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t three <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>times and had a fe<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>w additional ad hoc e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>x<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>changes rela<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ting to <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Boardâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s self<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-evaluation.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Its main activities w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ere <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to: <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">prepar<span class="_ _0"/>e and conduct the Board assessmen<span class="_ _0"/>t in accordance </span></span>with the Danish Corporat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Gov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ernance Recommendations; <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">re<span class="_ _0"/>view cultur<span class="_ _0"/>al enablers that ha<span class="_ _0"/>ve driv<span class="_ _0"/>en colleague </span></span>engagemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t, including our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Employee <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>V<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>alue Proposition and Leadership dev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>elopment; <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3">assess perf<span class="_ _0"/>ormance of<span class="_ _2"/> Executive Managemen<span class="_ _0"/>t and the co-</span></span>operation between <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>the Board and Executive Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement; <span xmlns="http://www.w3.org/1999/xhtml" class="_ _80"/><span xmlns="http://www.w3.org/1999/xhtml" class="ff4">â¢<span class="_ _6f"> </span><span class="ff3 ls13">revie<span class="_ _0"/>w succession planning f<span class="_ _2"/>or Executiv<span class="_ _0"/>e Management r<span class="_ _0"/>oles.</span></span>Additional in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormationThe Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>vernance Statemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or 2022,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> section 107(b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>) of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Danish Financial Stat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Act,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> is av<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ailable at our w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ebsite: <span xmlns="http://www.w3.org/1999/xhtml" class="ws4a">pandoragroup.<span class="_ _2"/>com/investor<span class="_ _2"/>/<span class="_ _0"/>corporate-g<span class="_ _2"/>over<span class="_ _2"/><span class="ls0 ws1">-</span></span>nance/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>gov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ernance-statement<span xmlns="http://www.w3.org/1999/xhtml" class="ls14 ws24">. <span class="ls0 ws1"> </span></span>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e also recognise the importance of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Artificial Intelligence<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Saf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ety<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. For<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> this purpose, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>we hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e created a Global <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>AI Safety<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Standard,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> which came int<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>orce on 1 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>August 2022.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> As a company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> we ha<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ve committed <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to conduct business in full compliance with the principles f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or the saf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e use of <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>AI as set out in the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>AI Saf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ety Standard,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and we <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>will begin implemen<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>tation of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> these principles in 2023.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> See Pandor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>a's Global Data Ethics P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>olicy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> </mrv:CorporateGovernanceReport>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="pp-value-42-2" xml:lang="en">Pandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s full sustainability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> disclosure,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. section 99(<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>a)<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, 99(b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>) and 107(<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d) of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Danish Financial Stat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Act,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> is available in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Sustainability Report 2022 at <span xmlns="http://www.w3.org/1999/xhtml" class="ws4a">pandoragr<span class="_ _0"/>oup.</span>com/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>sustainability/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>resources/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>sustainability-reports<span xmlns="http://www.w3.org/1999/xhtml" class="ls49 ws24">. </span></mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="pp-value-41-2" xml:lang="en">Pandora<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s Global Data Ethics P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>olicy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. section 99(<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>d) of <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Danish Financial Statements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Act, av<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ailable at <span xmlns="http://www.w3.org/1999/xhtml" class="ws4a">pandoragroup<span class="_ _0"/>.</span>com/invest<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>corporate-g<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>overnance/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>data-ethics<span xmlns="http://www.w3.org/1999/xhtml" class="ls49 ws4d">, <span class="ls0 ws1"> </span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="ws23"> is </span>built on our car<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e and respect f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or consumer and emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>yee privacy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e apply equality and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>airness in our processing of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> data,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> we r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>espect the person behind <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the data,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> and we f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ocus on sustainable data practices.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> </mrv:StatementOfPolicyForDataEthics>
<fsa:AverageNumberOfEmployees contextRef="ctx-1" decimals="0" unitRef="pure">26986</fsa:AverageNumberOfEmployees>
<fsa:AverageNumberOfEmployees contextRef="ctx-38" decimals="0" unitRef="pure">22441</fsa:AverageNumberOfEmployees>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-41" id="pp-value-185-1" xml:lang="en">Peter A. Ruzicka</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-41" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-45" id="pp-value-190-1" xml:lang="en">Marianne Kirkegaard </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-42" id="pp-value-186-1" xml:lang="en">Christian Frigast </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-42" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-46" id="pp-value-191-1" xml:lang="en">Catherine Spindler</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-43" id="pp-value-188-1" xml:lang="en">Heine Dalsgaard </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-47" id="pp-value-192-1" xml:lang="en">Jan Zijderveld</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-44" id="pp-value-189-1" xml:lang="en">Birgitta Stymne Göransson</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-39" id="pp-value-182-1" xml:lang="en">Alexander Lacik</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-39" id="pp-value-194-1" xml:lang="en">Chief Executive Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-40" id="pp-value-183-1" xml:lang="en">Anders Boyer</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-40" id="pp-value-184-1" xml:lang="en">Chief Financial Officer</cmn:TitleOfMemberOfExecutiveBoard>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="pp-value-176-1" xml:lang="en">ST<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/>A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>TEMENT B<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4"/>Y <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>THE EXECUTIVE MANA<span xmlns="http://www.w3.org/1999/xhtml" class="_ _3"/>GEMENT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> <span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws1"> </span>AND <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>THE BO<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ARD OF<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> DIRE<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>CT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ORSThe Board of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Directors and the Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t have today<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> discussed and appro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ved the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Annual Report of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> Pandora A/S f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>or 2022.The Annual R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>eport has been prepared in accordance with International Financial R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eporting Standards as adopt<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the EU and additional requirements o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Danish Financial State<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>ments Act.It is our opinion <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>that the consolida<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ted financial statements and the Par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ent Company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> financial statements giv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e a true and fair<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> view of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> the financial position of <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Group and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>-ent Company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> at 31 December<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2022 and of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esults of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> the Group<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>'s and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Paren<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t Company's oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ations and cash flows for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> the financial year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> 1 January <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>to 31 December<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> 2022.Further<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>, in our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> opinion, the Manag<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ement's r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eview<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> gives a f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>air revie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>w of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> the development in <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Group<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>'s and the Paren<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>t Company's activities and financial ma<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>tters,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> results of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> oper-ations,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> cash flows and financial position as <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>well as a descrip-tion of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/> material risks and uncertainties <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>that <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the Group and the Parent Compan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>y f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ace.In our opinion,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> the Annual R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eport of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> Pandora A/<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>S f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>the financial y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ear 1 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>January to 31 December<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> 2022 with the file name P<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>AND-2022-12-31-en.zip has been prepared, in all material respects,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/> in compliance with the ESEF R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>egulation.W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>e recommend that the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>Annual Report be approv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/>ed at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
<sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="pp-value-180-1" xml:lang="en">Copenhagen, </sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx-1">2023-02-08</sob:DateOfApprovalOfAnnualReport>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-196-1" xml:lang="en">Our opinionWe have audited the consolidated financial statements and the Parent Company financial statements of Pandora A/S for the financial year 1 January to 31 December 2022, which comprise statement of comprehensive income, balance sheet, statement of changes in equity, statement of cash flows and notes, including accounting policies, for the Group and the Parent Company. The consolidated financial statements and the Parent Company financial statements are prepared in ac-cordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated financial statements and the Parent Company financial statements give a true and fair view of the financial position of the Group and the Parent Com-pany at 31 December 2022 and of the results of the Groupâs and the Parent Companyâs operations and cash flows for the financial year 1 January to 31 December 2022 in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.Our opinion is consistent with our long-form audit report to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="pp-value-197-1" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the âAuditorâs responsibilities for the audit of the financial statementsâ section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ Inter-national Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibil-ities in accordance with these requirements and the IESBA code. To the best of our knowledge, we have not provided any prohibited non-audit services as described in article 5(1) of Regulation (EU) no. 537/2014.Appointment of auditorSubsequent to Pandora A/S being listed on Nasdaq OMX Copenhagen, EY was appointed auditors of Pandora A/S on 8 April 2011. We have been reappointed annually at the General Meeting for a total consecutive period of 12 years up to and including the financial year 2022. Subsequent to a tender process, we were re-appointed at the Annual General Meeting on 11 March 2021.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx-1" id="pp-value-199-1" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our profession-al judgement, were of most significance in our audit of the financial statements for the financial year 2022. These mat-ters were addressed during our audit of the financial state-ments as a whole and in forming our opinion thereon. We do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.We have fulfilled our responsibilities described in the âAu-ditorâs responsibilities for the audit of the financial state-mentsâ section, including in relation to the key audit matters below. Our audit included the design and performance of procedures to respond to our assessment of the risks of ma-terial misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the financial statements.Revenue recognition and measurement Income tax recognition and provisions Inventory valuationof expected sales returnsfor uncertain tax positionsRevenue is recognised when control of the goods has been transferred The Group has extensive international operations and con-The Group carries inventory in the balance sheet at the lower of to the buyer and it is measured at fair value of the expected consid-sequently, Management makes judgements and estimates in cost and net realisable value. Significant management judgements eration to be received, less rebates, discounts, sales taxes, duties and determining the recognition of income taxes, deferred taxes and are required with regards to valuation of inventories due to the expected sales returns. Revenue recognition and measurement of the provisions for uncertain tax positions. In Thailand, the Group is uncertainty associated with the estimate of slow-moving items and related expected sales returns was a matter of most significance in our subject to Board of Investment (BOI) agreements, where many, expected value of the reusable raw materials, as well as calcula-audit due to the inherent risk in the estimates and judgements which but not all, types of net income are tax-exempt, and therefore, tions of elimination of internal gain. Given the level of management Management makes in the normal course of business as to timing of changes in profit allocation could significantly impact the Groupâs judgements and estimates, inventory valuation was a matter of revenue and measurement of expected sales returns. consolidated tax expense. On this basis, income tax recognition most significance in our audit. Additional details on the valuation of and provisions for uncertain tax positions were a matter of most inventories are provided in note 3.5 of the consolidated financial Details on revenue recognition and expected sales returns are provided significance in our audit. Additional details on income taxes are statements and in note 3.4 of the Parent Company financial state-in notes 2.1 and 3.8 of the consolidated financial statements and in provided in note 2.5 of the consolidated financial statements, to ments, to which we refer.notes 2.1 and 3.5 of the Parent Company financial statements, to which which we refer.we refer.Our procedures in relation to revenue recognition and measurement Our procedures in relation to recognition of income taxes, de-Our procedures in relation to inventory valuation included assess-of expected sales returns included considering the Groupâs accounting ferred taxes and provisions for uncertain tax positions included ing the Groupâs processes related to inventory valuation including policies for revenue recognition, including those related to measurement assessing the Groupâs processes for recording and assessment of on a sample basis testing of direct costs related to raw materials, of expected sales returns, and assessing compliance of policies with provisions for uncertain tax positions. Our procedures also covered labour costs and attributable overhead costs incurred in the applicable accounting standards. We identified and assessed internal evaluating the assumptions applied by Management in determining crafting process, recording of write-downs and understanding of controls related to the timing of revenue recognition and measurement of the recognition and measurement of income taxes and deferred the process for internal gain elimination. We assessed the basis expected sales returns. We tested the effectiveness of the Groupâs internal taxes while taking into account relevant correspondence with for write-downs and performed analytical procedures to assess controls in relation to calculation of expected sales returns and timing of relevant tax authorities. Our own tax specialists performed an as-slow-moving items. We assessed the key assumptions applied by revenue recognition. On a sample basis, we tested sales transactions taking sessment of the Groupâs recognition of income taxes and deferred Management regarding itemsâ life-cycle status and expected value place at either side of the balance sheet date as well as credit notes issued taxes, including correspondence with relevant tax authorities to of the reusable raw materials based on our knowledge of the busi-after the balance sheet date to assess whether those transactions were consider the completeness of the tax provisions. In addition, we ness, and on a sample basis tested the supporting documentation. recognised in the correct period. We assessed the key assumptions applied assessed the assumptions applied, taking into consideration our Further, on a sample basis we tested the calculation of elimination by Management regarding expected sales returns based on our knowledge own tax specialistsâ knowledge and experience. Further, we evalu-of internal gain at Group level. Furthermore, we evaluated the of the business and by reviewing the supporting documentation prepared ated the disclosures provided by Management in the consolidated disclosures provided by Management in the consolidated financial by Management. As part of our audit we have utilised data analytics, analys-financial statements and the Parent Company financial statements statements and the Parent Company financial statements to appli-ing the relationship between revenue, trade receivables and cash receipts. to applicable accounting standards.cable accounting standards.Furthermore, we evaluated the disclosures provided by Management in the consolidated financial statements and the Parent Company financial statements to applicable accounting standards.</arr:KeyAuditMattersAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">To the shareholders of Pandora A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-201-1" xml:lang="en">Statement on the Managementâs review Management is responsible for the Managementâs review.Our opinion on the financial statements does not cover the Managementâs review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Managementâs review and, in doing so, consider whether the Managementâs review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Managementâs review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Managementâs review is in accordance with the financial state-ments and has been prepared in accordance with the require-ments of the Danish Financial Statements Act. We did not identify any material misstatement of the Managementâs review. </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="pp-value-202-1" xml:lang="en">Managementâs responsibilities for the financial statementsManagement is responsible for the preparation of consol-idated financial statements and Parent Company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of finan-cial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, Management is re-sponsible for assessing the Groupâs and the Parent Com-panyâs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="pp-value-204-1" xml:lang="en">Auditorâs responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that includes our opinion. Rea-sonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Mis-statements can arise from fraud or error and are considered material if, individually or in the aggregate, they could rea-sonably be expected to influence the economic decisions of users taken on the basis of the financial statements.As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepti-cism throughout the audit. We also:⢠Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and ap-propriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepre-sentations or the override of internal control. ⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appro-priate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Groupâs and the Parent Companyâs internal control. ⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relat-ed disclosures made by Management. ⢠Conclude on the appropriateness of Managementâs use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Companyâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs report to the related disclosures in the financial state-ments or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorâs report. However, future events or conditions may cause the Group and the Parent Company to cease to continue as a going concern. ⢠Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the under-lying transactions and events in a manner that gives a true and fair view. ⢠Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We re-main solely responsible for our audit opinion.We communicate with those charged with governance re-garding, among other matters, the planned scope and tim-ing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a state-ment that we have complied with relevant ethical require-ments regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applica-ble, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial state-ments and the Parent Company financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="pp-value-217-1" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the consolidated financial statements and Parent Company financial statements of Pandora A/S we performed procedures to express an opinion on whether the Annual Report of Pandora A/S for the financial year 1 January to 31 December 2022 with the file name PAND-2022-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the Annual Report in XHTML format and iXBRL tagging of the consolidated financial statements, including notes.Management is responsible for preparing an Annual Report that complies with the ESEF Regulation. This responsibility includes: ⢠The preparing of the Annual Report in XHTML format; ⢠The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchor-ing thereof to elements in the taxonomy, for all financial information required to be tagged using judgement where necessary; ⢠Ensuring consistency between iXBRL tagged data and the consolidated financial statements presented in human readable format; and ⢠For such internal control as Management determines nec-essary to enable the preparation of an Annual Report that is compliant with the ESEF Regulation.Our responsibility is to obtain reasonable assurance on whether the Annual Report is prepared, in all material re-spects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of proce-dures selected depend on the auditorâs judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include: ⢠Testing whether the Annual Report is prepared in XHTML format; ⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process; ⢠Evaluating the completeness of the iXBRL tagging of the consolidated financial statements, including notes; ⢠Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and ⢠Reconciling the iXBRL tagged data with the audited consolidated financial statements.In our opinion, the Annual Report of Pandora A/S for the financial year 1 January to 31 December 2022 with the file name PAND-2022-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-48" id="pp-value-208-1" xml:lang="en">Torben Bender</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-48" id="pp-value-209-1" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-48" xml:lang="en">mne21332</cmn:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-2" xml:lang="en">Jens Thordahl Nøhr</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-2" id="pp-value-214-1" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
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<arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="pp-value-206-1" xml:lang="en">Copenhagen, </arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx-1">2023-02-08</arr:SignatureOfAuditorsDate>
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<gsd:AddressOfReportingEntityCountry contextRef="ctx-1" xml:lang="en">Denmark </gsd:AddressOfReportingEntityCountry>
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<gsd:TelephoneNumberOfReportingEntity contextRef="ctx-1" xml:lang="en">+45 3672 0044 </gsd:TelephoneNumberOfReportingEntity>
<gsd:HomepageOfReportingEntity contextRef="ctx-1" id="pp-value-224-1" xml:lang="en">www.pandoragroup.com</gsd:HomepageOfReportingEntity>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
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<gsd:ReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2022-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2022-12-31</gsd:ReportingPeriodEndDate>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2021-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2021-12-31</gsd:PredingReportingPeriodEndDate>
<gsd:DateOfGeneralMeeting contextRef="ctx-1" xml:lang="en">2023-03-16</gsd:DateOfGeneralMeeting>
<gsd:LegalEntityIdentifierOfReportingEntity contextRef="ctx-1" xml:lang="en">5299007OWYZ6I1E46843</gsd:LegalEntityIdentifierOfReportingEntity>
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<cmn:NameOfAuditFirm contextRef="ctx-2" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
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