Pandora 2016 Annual Report Download - page 49

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The following graph shows a comparison from June€15, 2011, the date our common stock commenced trading on the
NYSE, through December€31, 2015 of the total cumulative return of our common stock with the total cumulative return of the
New York Stock Exchange Composite Index (the "NYA Composite"), the Global X Social Media Index (the "SOCL") and the
SPDR Morgan Stanley Technology MTK Index (the "MTK"). The figures represented below assume an investment of $100 in
our common stock at the closing price of $17.42 on June€15, 2011 and in the NYA Composite and MTK on the same date. The
SOCL was modeled from the inception of the index on November€15, 2011. Data for the NYA Composite, MTK and SOCL
assume reinvestment of dividends. The comparisons in the graph are historical and are not intended to forecast or be indicative
of possible future performance of our common stock.
Comparison of Cumulative Total Return Among Pandora Media,€Inc.,
New€York Stock Exchange Composite Index, Global X Social Media Index and
SPDR€Morgan Stanley Technology MTK Index
Table of Contents
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