Annual General Meeting 2021

The Annual General Meeting of Fortum Corporation will be held on 28 April 2021.

The Annual General Meeting of Fortum Corporation will be held on Wednesday, 28 April 2021, starting at 2:00 p.m. (EEST). To limit the spread of the COVID-19 pandemic, the shareholders of the company and their proxies may only participate in the meeting and exercise shareholder rights by means of voting in advance as well as by making counterproposals and presenting questions in advance. It is not possible to attend the meeting in person, nor is participation in the meeting possible by means of real time telecommunications. However, the Annual General Meeting can be followed online on this page.

Further instructions regarding the Annual General Meeting are provided below.

The complete notice to the Annual General Meeting of Shareholders of Fortum Corporation, the agenda, the proposals of the Board of Directors, the Shareholders’ Nomination Board and the Finnish State to the AGM and the other AGM documents can be found at the bottom of this page.

Important Dates

6 April 2021 at 12 noon (EEST)

Deadline for counterproposals by shareholders holding at least 1 % of all shares in the company

7 April 2021 at 9:00 a.m. (EEST)

Registration and advance voting begin

14 April 2021 at 4:00 p.m. (EEST)

Deadline for shareholders’ questions

16 April 2021

AGM record date

19 April 2021

Answers to shareholders’ questions available on this page (at the latest)

21 April 2021 at 4:00 p.m. (EEST)

Registration and advance voting end (for shareholders with a Finnish book-entry account)

23 April 2021 at 10:00 a.m. (EEST)

Registration ends (for nominee registered shareholders)

28 April 2021 at 2:00 p.m. (EEST)

The Annual General Meeting

12 May 2021

Minutes of the Annual General Meeting available on this page (at the latest)

The right to participate and registration

Each shareholder, who on the record date of the Annual General Meeting, 16 April 2021 is registered in the shareholders’ register of the company held by Euroclear Finland Oy, has the right to participate in the Annual General Meeting. A shareholder whose shares are registered on his/her personal Finnish book-entry account, is automatically registered in the shareholders' register of the company.

A shareholder who is registered in the shareholders' register of the company and wishes to participate in the Annual General Meeting shall both register for the meeting and vote in advance no later than by 4:00 p.m. (EEST) on 21 April 2021 by which time the registration and the advance votes must have been received.

Shareholders can register for the Annual General Meeting and vote in advance starting from Wednesday 7 April 2021 (9:00 a.m. EEST) in the following ways:

a) online;

b) by email or by regular mail.

A shareholder may submit the advance voting form available on this page or corresponding information to Euroclear Finland Oy by email to yhtiokokous@euroclear.eu, or by regular mail addressed to Euroclear Finland Oy, Yhtiökokous / Fortum Corporation, P.O. Box 1110, FI-00101 Helsinki.

If a shareholder participates in the Annual General Meeting by submitting the votes in advance to Euroclear Finland Oy, submission of the votes before the end of the registration and advance voting period constitutes due registration for the Annual General Meeting, provided that the form contains the information required for the registration.

When submitting the advance voting form, a representative or a proxy representative of the shareholder shall provide a dated proxy document or otherwise in a reliable manner demonstrate his/her right to represent the shareholder at the Annual General Meeting.

In connection with the registration, the shareholder shall provide the information requested. Any personal data provided to Fortum Corporation or Euroclear Finland Oy by a shareholder will only be used for the purpose of the Annual General Meeting and processing of the necessary registrations related to the Annual General Meeting. More information about the processing of personal data related to the Annual General Meeting is available in the privacy notice on this page.

Holders of nominee registered shares

A holder of nominee registered shares has the right to participate in the Annual General Meeting by virtue of such shares based on which he/she would be entitled to be registered in the shareholders' register of the company held by Euroclear Finland Oy on the record date of the Annual General Meeting, 16 April 2021. In addition, the right to participate in the Annual General Meeting requires that the shareholder, on the basis of such shares, has been temporarily registered into the shareholders’ register held by Euroclear Finland Oy by 10:00 a.m. (EEST) on 23 April 2021 at the latest. For the nominee registered shares, this constitutes due registration for the Annual General Meeting.

A holder of nominee registered shares is advised to request well in advance the necessary instructions regarding the temporary registration in the shareholders' register of the company, the issuing of proxy documents and registration for the Annual General Meeting from his/her custodian bank. The account management organisation of the custodian bank shall temporarily register the holder of the nominee registered shares who wishes to participate in the Annual General Meeting into the shareholders' register of the company by the time stated above at the latest. Holders of nominee registered shares cannot directly register for the Annual General Meeting online on the company’s website, but must register via their custodian bank instead.

Proxy representatives and powers of attorney

A shareholder may participate in the Annual General Meeting and exercise his/her rights at the meeting also by way of third-party proxy representation. A proxy representative may also participate in the meeting only by means of voting in advance, or by making counterproposals and presenting questions in advance. A proxy representative shall provide a dated proxy document or otherwise in a reliable manner demonstrate his/her right to represent the shareholder at the Annual General Meeting. If a shareholder participates in the Annual General Meeting by means of several proxy representatives representing the shareholder with shares in different securities accounts, the shares with which each proxy representative represents the shareholder shall be identified in connection with the registration for the Annual General Meeting.

The proxy documents, if any, should be submitted to Euroclear Finland Oy by email to yhtiokokous@euroclear.eu, or by regular mail addressed to Euroclear Finland Oy, Yhtiökokous / Fortum Corporation, P.O.Box 1110, FI-00101 Helsinki no later than by the end of the registration period, by which time the proxy documents must have been received by Euroclear Finland Oy. Submission of the proxy document and the advance votes to Euroclear Finland Oy before the end of the registration and advance voting period constitutes due registration for the Annual General Meeting, provided that they contain the information required for the registration.

Electronic advance voting service

In order to participate in the Annual General Meeting, a shareholder with a Finnish book-entry account must, in addition to registering for the meeting, vote in advance on certain items on the agenda of the Annual General Meeting either online or by submitting the advance votes to Euroclear Finland Oy between 7 April 2021 and 21 April 2021 at 4:00 p.m. (EEST) in accordance with the instructions provided in the section “The right to participate and registration”. Advance votes will be taken into account if the ownership is entered into the shareholders' register of the company held by Euroclear Finland Oy on the record date of the Annual General Meeting, 16 April 2021. If a shareholder only registers for the meeting online but does not vote in advance either online or by sending the advance voting form or corresponding information to Euroclear Finland Oy, the shareholder is not considered to be participating in the Annual General Meeting.

For natural persons, electronic advance voting requires secure strong electronic authentication, and a shareholder may register and vote by logging in using his/her personal Finnish online banking codes or a mobile certificate.

For shareholders that are legal entities, electronic advance voting does not require strong electronic authentication. However, the shareholder shall provide the number of its Finnish book entry account and other information required.

A shareholder may vote on the matters as per his/her choice and change his/her pre-cast votes during the whole pre-voting period, and may also continue to browse the pre-cast votes in the electronic advance voting service even after the Annual General Meeting. The shareholder may also print out a confirmation of the votes he/she has given in advance in the advance voting service.

The shareholder is connected to the electronic advance voting service through a secure internet connection. The communication connection used is encrypted using SSL technology, which is commonly used, e.g., by online banks.

Following the Annual General Meeting online

The shareholders may follow the Annual General Meeting online on this page. The shareholders following the AGM by these means are not considered to be participating in the meeting, which means that they do not have any shareholder rights, such as, the right to ask questions or the right to vote during the meeting. Thus this is not regarded as remote participation under the Finnish Limited Liability Companies Act, but as a mere possibility to follow the meeting online.

The videolink for following the AGM will be published on this page on the day of the Annual General Meeting, 28 April 2021 at the latest.

Making counterproposals

Shareholders holding at least one hundredth of all the shares in the company have the right to make a counterproposal on the proposals on the agenda of the Annual General Meeting, to be placed for a vote.

The deadline for making counterproposals set in the Notice to the AGM was 12 noon (EEST) 6 April 2021. The company did not receive any counterproposals from shareholders by the deadline.

Presenting questions in advance

A shareholder may submit questions referred to in Chapter 5 Section 25 of the Finnish Limited Liability Companies Act on matters to be considered at the meeting by 14 April 2021 at 4:00 p.m. (EEST) by email to agm@fortum.com, or by regular mail addressed to Fortum Corporation, Corporate Legal Affairs / AGM, P.O. Box 100, 00048 FORTUM Finland. Such questions, the company’s management’s answers to the questions, and any counterpropsals that have not been placed for a vote will be available on this page on 19 April 2021 at the latest. In order to submit questions and counterproposals, the shareholder shall provide adequate evidence of the shareholding.

Other information

In case of questions related to the participation in the Annual General Meeting, registration, advance voting, or in other AGM-related matters, kindly contact agm@fortum.com.

Information on General Meetings laid down in the Finnish Companies Act and the Securities Markets Act is available at www.fortum.com/about-us/investors/corporate-governance/general-meeting.

On the date of the notice to the Annual General Meeting, the total number of shares in Fortum Corporation, and votes represented by such shares, is 888,294,465.

Any changes in the ownership of shares that have occurred after the record date of the Annual General Meeting do not affect the right to participate in the Annual General Meeting nor the number of votes of the shareholder at the Annual General Meeting.

Information on changes in withholding taxation of dividends

Changes in the Finnish law on withholding taxation of dividends paid to holders of nominee registered shares have entered into force and are applicable as of January 2021.

From the beginning of 2021, a withholding tax of 35% will, as a default, be applied to the dividend payments made on nominee registered shares. However, a lower withholding tax rate (e.g. 15 %) or exemption can be applied, if custodians registered with the Tax Administration’s Public Register of Authorised Intermediaries have advised of a lower withholding, based on the required additional specific shareholder related information collected by them.

Any tax withheld in excess can be reclaimed after the year of the dividend payment by submitting a refund application to the Finnish Tax Administration, either on paper (form for corporate entities here, and for individuals here), or electronically (pending updates).

You may also be able to receive a refund already during the year of the dividend payment via your registered custodian. Please contact your custodian for further information.

Additional information on withholding tax reclaims can be obtained from the Tax Administration either:

by e-mail whtreclaims@vero.fi (for corporations only); or

via the Tax Administration general telephone and chat helplines (for both individuals and corporations)

Please note that Fortum does not process withholding tax reclaims.

Dividends paid to Finnish tax resident holders of nominee registered shares may as of 2020 have been subject to withholding of 50% tax prepayment (ennakonpidätys). Any excess tax prepayment will be credited in the normal tax assessment process where the shareholder reports their dividend income to the Finnish Tax Administration.

Materials of Fortum's General Meetings in archive