Fortum - Company Announcement

Fortum estimates approx. EUR 700 million one-time negative impact on net profit due to planned closure of OKG nuclear units 1 and 2 in Sweden

FORTUM CORPORATION STOCK EXCHANGE RELEASE 30 September 2015 at 14:20 EET

OKG AB's Board of Directors has today decided to invite an Extraordinary
shareholders' meeting on 14 October 2015 in order to be able to make a decision
on the closing of the units 1 and 2 in Oskarshamn nuclear power plant in
Sweden. In OKG AB, E.ON is the majority owner and can decide on the closing of
units. 

For unit 1 the decision would mean that the unit would be taken out of
operation and transferred into service mode after the applied environmental
permit estimated to be received during 2017 - 2019. The exact timing depends on
the environmental permit process. 

For unit 2, which has been out of operation since June 2013 due to extensive
safety modernization, the decision would mean that it would not be returned
into operation. The closing process for the units is estimated to take several
years. 

Fortum has evaluated the financial impact of the decision based on the
currently available information from OKG AB. Fortum estimates that the decision
will have a one-time negative impact of approximately EUR 700 million on its
third quarter 2015 net profit. 

Fortum owns approximately 45.5% of the shares in OKG AB through its Swedish
subsidiaries. Karlstad municipality in Sweden is a shareholder in one of these
subsidiaries, which gives it an indirect ownership of approximately 2.1% of the
OKG shares. Excluding Karlstad municipality's interest, Fortum's ownership is
43.4%, which reflects the share of electricity produced that Fortum can sell
further to the market. 

When all units were operating, Oskarshamn's three nuclear power units provided
approximately 10% of the Swedish electricity generation. The total production
capacity of the units is 2,511 megawatts (MW) of which Fortum's share is 1,090
MW. The biggest and newest unit 3, with capacity of 1,400 MW, will continue its
operation (Fortum's share 608 MW). Oskarhamn 1 was commissioned in 1972,
Oskarshamn 2 in 1974 and Oskarshamn 3 in 1985. 

Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications

Further information:
Tiina Tuomela, EVP, Nuclear and Thermal Power Division, Fortum
Call back requests and media:
Helena Aatinen, SVP, Corporate Communications, Fortum, tel. +358 10 45 20480
Analysts and investors: Sophie Jolly, VP, Investor Relations, Fortum,
tel. +358 10 45 32552

Distribution:
Nasdaq Helsinki
Key media
www.fortum.com

Fortum
Fortum's purpose is to create energy that improves life for present and future
generations. Fortum's expertise is in CO2-free and efficient electricity and
heat production. The company also offers energy-related products and expert
services to private and industrial customers and energy producers. Fortum's
main areas of operation are the Nordic and the Baltic countries, Russia and
Poland. In 2014, the annual sales (excluding the divested electricity
distribution business) totalled EUR 4.1 billion, and comparable operating
profit was EUR 1.1 billion. The company employs approximately 8,000 people.
Fortum's share is listed on Nasdaq Helsinki. www.fortum.com