Fitch Ratings affirms Fortum’s long-term rating of BBB with stable outlook

FORTUM CORPORATION INVESTOR NEWS 18 MARCH 2024 AT 10:15 EET

Fitch Ratings (Fitch) has affirmed Fortum’s current long-term credit rating at BBB with stable outlook. According to Fitch, the affirmation reflects the company's strong and well-managed generation fleet as well as its solid financial profile and commitment to maintain a prudent capital structure.

Fortum’s financial position is very strong and the company’s objective is to maintain a credit rating of at least BBB. At the end of 2023, Fortum’s ratio for financial net debt to comparable EBITDA was at a low level of 0.5 times compared to the maximum level of 2.0-2.5 times.

Fitch Ratings’ report is available as an attachment to this release.

Fortum Corporation

Ingela Ulfves

Vice President, Investor Relations and Financial Communications

Further information:

Analysts and investors:

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

Rauno Tiihonen, Director, IR, tel. +358 10 453 6150

Jouni Huttunen, VP, Treasury, tel. +358 50 452 4649

Media:

Fortum News Desk +358 40 198 2843