Fortum completes divestment of its Norwegian heat business

Fortum Corporation Stock Exchange Release 30 June 2014 at 16.55 EEST

Fortum has today completed the divestment of its Norwegian heat business to
iCON Infrastructure Partners II, L.P. fund originally announced on 9 April
2014. The transaction has all the necessary regulatory approvals and the
customary closing conditions have been met.

In April, Fortum also announced the divestment of its distribution businesses
in Norway. The transaction was completed at the end of May 2014.

The total consideration including both deals is approximately EUR 340 million
on a debt- and cash-free basis. As announced in April, Fortum expects to book a
one-time sales gain totalling approximately EUR 70 million from all Norwegian
transactions, corresponding to approximately EUR 0.08 per share, in its second
quarter 2014 results. The final sales gain will be reported in Fortum's
Distribution segment as well as in Heat, Electricity Sales and Solutions

The delivery of heat and cooling to customers in Norway will continue without
disruption following the transaction and all current employees will continue
their work in the business. Fortum focuses in its heat business on larger urban
areas providing the possibilities to develop combined heat and power (CHP)

Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications

Further information:
Fortum Media Desk +358 40 1982 843


Fortum’s purpose is to create energy that improves life for present and future
generations. Catering to the versatile needs of our customers, we generate,
distribute and sell electricity and heat, and offer related expert services.
Our operations focus on the Nordic and Baltic countries, Russia and Poland. In
2013, Fortum’s sales totalled EUR 6.1 billion and comparable operating profit
was EUR 1.6 billion. We employ approximately 8,800 people. Fortum’s shares are
traded on the NASDAQ OMX Helsinki.