Fortum Oyj

Board/Management Information • Sep 1, 2022

Change in Fortum Executive Management – Head of Russia division steps down from Fortum's Executive Management Team; continues to lead business

FORTUM CORPORATION STOCK EXCHANGE RELEASE 1 SEPTEMBER 2022 AT 9:00

Release category: Changes Board/Management/Auditors

The head of Fortum's Russia division, Alexander Chuvaev, and Fortum have agreed that he will step down from his position at the company's Executive Management Team as of 1 September 2022. Alexander Chuvaev has been a member of Fortum's Executive Management since 2009. However, Mr Chuvaev continues in his position as the Head of the Russia division and still reports to Fortum's President and CEO, Markus Rauramo.

In May Fortum announced that it will pursue a controlled exit from Russia with a divestment as a preferred path. This process is ongoing.

Fortum Corporation

Ingela Ulfves Vice President, Investor relations and Financial Communications

Further information:

Investors and analysts: Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531

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

Distribution:

Nasdaq Helsinki Main media www.fortum.com

Fortum

Fortum and Uniper form a European energy group committed to enabling a successful transition to carbon neutrality for everyone. Our 50 gigawatts of power generating capacity, substantial gas import and storage operations, and our global energy trading business enable us to provide Europe and other regions with a reliable supply of low-carbon energy. We are already Europe's third largest producer of CO² -free electricity, and our growth businesses focus on clean power, low-carbon energy, and the infrastructure for tomorrow's hydrogen economy. In addition, we design solutions that help companies and cities reduce their environmental footprint. Our 20,000 professionals and operations in 40 countries give us the skills, resources, and reach to empower the energy evolution toward a cleaner world. fortum.com; uniper.energy