Fortum Oyj

Board/Management Information • Apr 3, 2020

Fortum to increase representation on Uniper's Supervisory Board

FORTUM CORPORATION STOCK EXCHANGE RELEASE 3 APRIL 2020 AT 20:00 EEST

Release category: Other information disclosed according to the rules of the exchange

The Chairman of the Supervisory Board of Fortum's subsidiary Uniper as well as four other Supervisory Board members have today informed that they have resigned from their duties with immediate effect. Fortum welcomes the decision and expects the change in the Supervisory Board's composition to pave the way for strategic alignment and cooperation between the two companies. Fortum supports the intention of Uniper to immediately initiate the process for the appointment of the new members of the Supervisory Board. This allows Fortum as the majority shareholder with around 70% of the shares in Uniper to increase its presence in the Supervisory Board of Uniper, commensurate with its shareholding.

Markus Rauramo, CFO of Fortum, will remain on the Supervisory Board of Uniper. In addition, Fortum has proposed further suitable candidates to Uniper as members to the Supervisory Board. Fortum expects to be represented on the Uniper Supervisory Board through four of the six shareholder representatives including the Chairman. The other two members would be independent ones.

"The time has come to turn a new page in the relationship between Fortum and Uniper. The strategic alignment and cooperation can now start without further delay," says Pekka Lundmark, CEO of Fortum.

Fortum Corporation Ingela Ulfves, VP, IR and Financial Communications

Further information:

Investors and analysts: Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531 Rauno Tiihonen, IR Manager, tel. +358 10 453 6150 Måns Holmberg, Manager, IR and Financial Communications, tel. +358 44 518 1518

Media:

Pauliina Vuosio, VP, Executive Communications, tel. +358 50 453 2383

Jakelu: Nasdaq Helsinki Main media www.fortum.com

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 more than 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2019, our sales were EUR 5.4 billion and 59% of our electricity generation was CO2 free. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com