This is a notification of changes in the shareholdings of the company’s management employees, who are obligated to give and pass on notifications, pursuant to the Danish Securities Trading Act. Bang & Olufsen a/s has been notified of the following transaction: Name: Mr Jim Hagemann Snabe --------------------------------------------------- Reason: Member of the Board of Directors --------------------------------------------------- Issuer: Bang & Olufsen a/s --------------------------------------------------- ISIN: DK0010218429 --------------------------------------------------- Transaction type: Acquisition --------------------------------------------------- Date: 18-01-2012 --------------------------------------------------- Market: NASDAQ OMX Copenhagen A/S --------------------------------------------------- Number: 1,500 --------------------------------------------------- Price in DKK: 99,000.00 --------------------------------------------------- For further information, please contact: Director, Global Counsel, Kim Hyldahl Hansen, tel: +45 9684 5167