Company: PNDZF
Filing Date: 2025-03-07
Form Type: F-6EF
Source: 0001104659-25-021632
Chunk: 1

Company: Pandora A/S / ADR
Filing Date: 2025-03-07
Form: F-6EF
Chunk 1
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 – Articles 11, 12, 14, 15, 16, 18 and 21          |
| 3. | Fees and charges that a holder of Receipts may have to pay, either directly or indirectly |                                                                                                              |     | Reverse of Receipt – Article 19                                      |

Item 2. AVAILABLE INFORMATION

| Required Information |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |     | Location in Form of Receipt Filed Herewith as Prospectus |
| (a)                  | Statement that as of the date of the establishment of the program for issuance of Receipts by the Depositary, the Depositary has a good faith belief (after limited investigation), that the issuer of the Deposited Securities publishes information in English required to maintain the exemption from registration under Rule 12g3-2(b) under the Securities Exchange Act of 1934 on its internet website or through an electronic information delivery system generally available to the public in its primary trading market. |     | Face of Receipt – Article 8                              |

<div align='center'>I-2

Prospectus

THIS PAGE AND THE FORM OF
AMERICAN DEPOSITARY RECEIPT ATTACHED HERETO AS EXHIBIT (A) CONSTITUTE THE PROSPECTUS RELATING TO SUCH AMERICAN DEPOSITARY RECEIPTS, IN
ACCORDANCE WITH GENERAL INSTRUCTION III.B OF FORM F-6 OF THE SECURITIES AND EXCHANGE COMMISSION

I-3

PART II

INFORMATION NOT REQUIRED
IN PROSPECTUS</div>

Item 3. EXHIBITS

(a) Copy
of Agreement - The Agreement between Deutsche Bank Trust Company Americas, as depositary (the "Depositary"), and all holders
from time to time of American Depositary Receipts evidencing American Depositary Shares registered hereunder is contained in the form
of the American Depositary Receipt itself, constituting the Prospectus filed as a part of this Registration Statement.

(b) Any
other agreement, to which the Depositary is a party, relating to the issuance of the Depositary Shares registered hereby or custody of
the deposited securities represented thereby. - None.

(c) Any
material contract relating to the deposited securities between the Depositary and the issuer of the deposited securities in effect at
any time within the last three years. - None.

(d) Opinion
of counsel to the Depositary as to the legality of the securities to be registered.

(e) Certification
under Rule 466.

Item 4. UNDERT