Nasdaq Helsinki Ltd: THE SHARES OF PALLAS AIR OYJ IN OBSERVATION

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no longer valid.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, [e-mail], [phone]