Fortum’s Chelyabinsk GRES inaugurated in Russia – multi-year investment programme completed

FORTUM CORPORATION PRESS RELEASE 18 October 2016

Fortum’s combined heat and power plant Chelyabinsk GRES was inaugurated today
in Russia. Chelyabinsk GRES unit 1 has been in commercial operation since
December 2015 and unit 2 since March 2016.

Speaking at the inauguration event, Fortum’s President and CEO Pekka Lundmark
said: “With the commissioning of Chelyabinsk GRES, the investment programme we
committed to in 2008 has been successfully concluded. We will now concentrate
on further improving our operations and serving the people and industry in the
Chelyabinsk and Tyumen regions with reliable and environmentally sustainable
electricity and heat."

Under the programme Fortum constructed eight gas-fired units with a combined
capacity of over 2 gigawatts in the Chelyabinsk and Tyumen regions.

“Today we celebrate Chelyabinsk GRES, which caters the Chelyabinsk region and
the Urals with energy produced by highly modern and energy-efficient
technology. Our new CHP units have significantly reduced specific emissions of
power generation in Russia. They also strengthen supply to the heat system of
Chelyabinsk to ensure its further modernisation and improvement to the benefit
of the customer”, says Alexander Chuvaev, Executive Vice President, Russia
Division.

The return on invested capital for new capacity built under the investment
programme is covered under the Russian Government’s capacity supply agreement
(CSA). Prices for capacity under CSA are defined in order to ensure a
sufficient return on investments.

Fortum Corporation
Group Communications

Further information:
Investors, analysts and financial media: Sophie Jolly, Vice President, Investor
Relations and Financial Communications, tel. +358 10 45 32552

Media: Denis Litoshik, Director, Corporate Communications and Public Relations,
Russia Division, tel. +7 (985) 383 52 61

Read more about Fortum’s operations in Russia:

Related press releases:
Investor news 1 March 2016: Fortum completes its multi-year investment
programme in Russia - Chelyabinsk GRES unit 2 commissioned


Press release 1 December 2015: Fortum starts commercial operation of
Chelyabinsk GRES power plant's unit 1 in Russia; Chelyabinsk GRES 2 further
delayed


Fortum
Fortum's vision is to be the forerunner in clean energy. We provide our
customers with electricity, heat and cooling as well as other energy solutions
that improve present and future life. Already 64% of our electricity generation
is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,
Poland and India. In 2015, we employed some 8,000 energy sector professionals,
and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq
Helsinki. www.fortum.com