#BITEBACK

Embarking on a journey that began in early 2021, our company uncovered irregularities in the business practices of Genano Oy that raised significant legal and safety concerns for our customers.

Following our initial alert to Genano Oy in the form of a yellow flag, our apprehensions were met with a more severe response in the shape of a red flag.

In 2023, our concerns gained validation when the financing company, which had been unwittingly involved in facilitating these illicit practices, terminated any further engagement with Genano Oy to prevent the continuation of such questionable contractual arrangements.

In response to these revelations, we have taken a proactive stance to support and assist customers in Finland who find themselves entangled in these problematic contracts with Genano Oy.

If your company shares similar concerns or experiences, we invite you to reach out to us. Together, we are committed to ensuring that justice prevails.

When it comes to conducting business, ethical principles and responsible practices are of utmost importance. Unfortunately, encounters with individuals or entities that operate with a disregard for the well-being of others can present challenges. These individuals, often concealed in the shadows, prioritize personal gains without consideration for the repercussions borne by others.

Our firm commitment lies in not allowing such actions to go unaddressed. We firmly believe in upholding the values of justice and accountability, ensuring that those who engage in unethical practices are held responsible for their actions. This dedication aligns with the foundational principles of trust and integrity, which are indispensable in any business relationship.

By taking a resolute stance against unethical behaviors, we not only safeguard our own interests but also fulfill a crucial obligation to our customers and stakeholders. As you rightly noted, trust is earned, and businesses thrive on a bedrock of transparency, fairness, and ethical conduct. Our pursuit of justice in the face of wrongdoing demonstrates our unwavering commitment to these principles, contributing to the maintenance of integrity within the broader business ecosystem.

In navigating these challenges, our efforts are aimed at fostering a culture of accountability and responsibility within the business community. Through our commitment to justice, we seek not only to protect our interests but also to play a pivotal role in upholding the ethical standards that constitute the bedrock of trustworthy business practices.

Dear Mr. Mikael Rentto, CEO of Genano Oy, and Mr. Vesa Mäkipää, CEO of Pallas Air Oy,

I hope this letter finds you in good health and spirits. I am writing to bring to your attention some unresolved ethical concerns that were raised in 2021 regarding the business practices at Genano Oy. Despite my attempts to address these concerns directly with Mr. Mikael Rentto, the biggest owner and CEO at the time, I have yet to receive any response, whether by call or email.

The core issue revolves around the business ethics at Genano Oy, where practices were deemed to be potentially illegal. Despite bringing this matter to Mr. Rentto's attention, there has been no resolution, and instead, our provisions were denied, and the business was redirected to another salesperson.

To date, an outstanding amount of approximately €250,000 in provisions remains unpaid. It is concerning that despite the ethical standards outlined on the company's website, these issues persist without acknowledgment or rectification.

I had also previously discussed these matters with Mr. Vesa Mäkipää before the merger with Genano. I expressed my concerns about business contracts that seemed to have been conducted in an unlawful manner. Given the merger, there is an expectation that Pallas Air Oy would assume responsibility for all contracts, including those that may have been handled incorrectly by Genano.

I kindly request clarification on the steps being taken to address these concerns and bring about a fair resolution. Additionally, I would appreciate it if all stock owners of Pallas Air Oyj are made aware of these matters.

I believe in the importance of transparency, accountability, and ethical business practices, and I trust that you share these values. I am open to engaging in a constructive dialogue to find an amicable resolution to this situation.

Best regards,

Joakim Riippa