EXCHANGE NOTICE 10 NOVEMBER 2023 SHARES THE SHARES OF PALLAS AIR OYJ IN OBSERVATION Pallas Air Oyj (formerly Lifa Air Oyj) published on 1 November 2023 a company announcement where it announced that the agreement between Lifa Air Oyj and Genano Oy to merge by share transfer has been completed. Following the transaction, the letter of support given to Lifa Air Oyj to ensure funding is no longer valid. Furthermore, according to the announcement the conditions on which Uudenmaan Osuuspankki accepted the transaction weaken Pallas Air Oyj's liquidity. Based on the above, Pallas Air Oyj's shares are in observation on the basis of the Nasdaq First North Growth Market - Rulebook, rule 6.3.1(g). Nasdaq First North Growth Market Rulebook rule 6.3.1(g): there is a material adverse uncertainty in respect of the Issuer's financial position. Nasdaq Helsinki has previously given the shares of Pallas Air Oyj observation status on 5 September 2022 on the grounds of the Nasdaq First North Growth Market - Rulebook, rule 6.3.1(h). Nasdaq Helsinki Oy, Surveillance, survo@nasdaq.com, +358 9 6166 7260
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