TCFD & TNFD Reporting

As we grow our business, we remain focused on addressing both potential and actual climate and nature-related risks. We rely on the frameworks provided by the Task Force on Climate-related Financial Disclosures (TCFD) and the Task Force on Nature-related Financial Disclosures (TNFD) to guide us in this effort. These frameworks support our response to growing demands from regulators and the financial sector for greater transparency on financially material climate change and nature-loss impacts affecting Pandora.

Governance

Disclosure of the Board’s oversight of climate-related risks and opportunities.

Pandora’s Board of Directors (the Board) maintains oversight of climate and nature-related risks and opportunities as part of its governance responsibilities. This includes evaluating the alignment of climate-related and nature-related initiatives with Pandora’s purpose and business strategy. The Board approves Pandora’s climate-transition and nature-protection plans, receives updates on the progress of sustainability priorities, performance and targets annually, including climate-related and nature-related risks and mitigation initiatives. In 2025, the Board received training with focus on sustainability impacts, opportunities and risks. For further information see Pandora’s Annual Report 2025 here.

Strategy

Disclosure of the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy and financial planning where such information is material.

We aspire to be a low-carbon business, aiming to reduce our environmental impacts across the entire value chain. For further information see Pandora’s Annual Report 2025 here.

Risk management

We operate an enterprise risk management system. The business functions are responsible for different parts of our value chain for the continuous identification, assessment, mitigation and reporting of current and emerging risks. All relevant business functions provide quarterly updates on their most material risks, which are presented to the Risk Management Board for review and potential inclusion in Pandora’s most material risks map. For further information see Pandora’s Annual Report 2025 here.

Metrics and targets

Disclosure of how metrics and targets are used to assess and manage relevant climate-related risks and opportunities where such information is material.

We are committed to reducing our environmental impact through clear targets and impactful initiatives. Our long-term incentive plan (LTIP) for Senior Leadership Team incorporates sustainability performance as a key component, including ourscience-based target to reduce GHG emissions. For further details on the LTIP, see Pandora’s Remuneration Report 2025 here.