Synchrony Financial Extends Consumer Financing Program Agreement with PANDORA Jewelry

PANDORA consumers will continue to have access to financing options

STAMFORD, Conn. & BALTIMORE–(BUSINESS WIRE)–Synchrony Financial (NYSE:SYF),
a premier consumer financial services company with 80 years of retail
heritage, and PANDORA Jewelry, a leading designer and manufacturer of
hand-finished and contemporary jewelry, today announced a multi-year
extension of its consumer financing program agreement.


The program, which began in 2011, will continue to provide PANDORA
consumers with access to a range of convenient payment options through
the PANDORA Preferred card program. Special financing will be available1
at select PANDORA concept stores nationwide for purchases made from a
full line of PANDORA jewelry products and collections, including
bracelets, charms, necklaces, rings and earrings.

“We’re pleased to continue offering payment options to consumers who
want to celebrate the individuality of women through PANDORA jewelry
purchases,” said Glenn Marino, executive vice president and CEO, Payment
Solutions, Synchrony Financial. “The availability of financing is an
important factor in these decisions.”

Synchrony Financial’s 2015 Major Purchase Consumer Study2
found that 69 percent of Synchrony fine jewelry cardholders surveyed
said they “always” seek promotional financing when making a major
purchase ($500+). Eighty-one percent of fine jewelry cardholders
surveyed said they feel promotional financing makes their large
purchases more affordable.

“Synchrony Financial understands that offering flexible payment options
is important to a satisfying shopping experience for our consumers,”
said John DePasquale, Vice President, Sales, PANDORA Jewelry, U.S. “We
look forward to working with Synchrony to continue growing our business
and providing our consumers with greater buying power for jewelry
purchases that honors women just the way they are – unique.”

1Subject to credit approval.
2Synchrony
Financial’s Fourth Annual Major Purchase Consumer Study, conducted by a
third-party, reflects the experience of shoppers surveyed making or
planning to make a purchase valued at $500+.

About Synchrony Financial

Synchrony Financial (NYSE:SYF)
is one of the nation’s premier consumer financial services companies.
Our roots in consumer finance trace back to 1932, and today we are the
largest provider of private label credit cards in the United States
based on purchase volume and receivables.* We provide a range
of credit products through programs we have established with a diverse
group of national and regional retailers, local merchants,
manufacturers, buying groups, industry associations and healthcare
service providers to help generate growth for our partners and offer
financial flexibility to our customers. Through our partners’ over
350,000 locations across the United States and Canada, and their
websites and mobile applications, we offer our customers a variety of
credit products to finance the purchase of goods and services. Synchrony
Financial (formerly GE Capital Retail Finance) offers private label and
co-branded Dual Card credit cards, promotional financing and
installment lending, loyalty programs and FDIC-insured savings products
through Synchrony Bank. More information can be found at www.synchronyfinancial.com,
facebook.com/SynchronyFinancial
and twitter.com/SYFNews.

*Source: The Nilson Report (April, 2015, Issue # 1062) –
based on 2014 data.

About Pandora

PANDORA designs, manufactures and markets hand-finished and contemporary
jewelry made from high-quality materials at affordable prices. PANDORA
jewelry is sold in more than 100 countries on six continents through
approximately 9,000 points of sale, including more than 1,800 concept
stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA
employs more than 16,700 people worldwide of whom approximately 11,000
are located in Gemopolis, Thailand, where the company manufactures its
jewelry. PANDORA is publicly listed on the NASDAQ Copenhagen stock
exchange in Denmark. In 2015, PANDORA’s total revenue was DKK 16.7
billion (approximately EUR 2.2 billion). For more information, please
visit www.pandoragroup.com.

©2016 Synchrony Bank/Synchrony Financial. All rights reserved.

Contacts

Synchrony Financial, 855-791-8007
media.relations@synchronyfinancial.com
or
PANDORA
Jewelry
PANDORAAmericasPR@PANDORA.NET