Fortum Oyj

Board/Management Information • Oct 31, 2017

Disclosure 355943

Fortum - Changes board/management/auditors

Matti Ruotsala, Deputy CEO will retire from Fortum

FORTUM CORPORATION STOCK EXCHANGE RELEASE 31 OCTOBER AT 10.00 EET

On 31 October, Fortum's Deputy CEO Matti Ruotsala will retire as planned. Ruotsala has been employed by Fortum since 2007 and has held several positions including Executive Vice President of Power Division, Chief Operating Officer, and from 2016 Deputy CEO.

"In the beginning of my 10 years at Fortum, market prices boomed but soon thereafter the new reality hit when the large scale expansion of renewable technologies changed the scene. This led us to renew and restructure Fortum’s business operations and ultimately to sell our Distribution businesses. I am delighted how well Fortum has developed and is continuing on the path to transforming the energy industry", says Matti Ruotsala.

"On behalf of myself and the whole Fortum I would like to thank Matti for his excellent work ", says Pekka Lundmark, President and CEO of Fortum. "Already joining Fortum, Matti had long international leadership experience. These qualities have been truly welcome during these transitional years. Matti has had an important role in developing our power generation business and whole Fortum to the successful clean-energy company we are today. We wish him the very best for the future", Lundmark continues.

Fortum Corporation

Måns Holmberg, acting head of Investor Relations and Financial Communications

Further information:

Mari Kalmari, Corporate Press Officer, tel. +358 40 520 1709

Fortum

Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com