Press release

Fortum divests its shareholding in AS Eesti Gaas

23 February 2016, 14:00 EET


Fortum has agreed to sell its 51.4%-shareholding in the Estonian natural gas
import, sales and distribution company AS Eesti Gaas to Trilini Energy OÜ. The
transaction is subject to the necessary regulatory approvals and customary
closing conditions. Fortum expects to finalise the transaction during the first
half of 2016. The parties have agreed not to disclose the sales price and the
transaction's expected positive impact on Fortum's first half 2016 results is

Fortum announced on 1 July 2014 that it plans to divest its Estonian gas
holdings. Shareholding in the gas transmission holding company AS Võrguteenus
Valdus was sold already in 2015 and after this transaction, Fortum has no more
gas holdings in Estonia.

Fortum Corporation
Corporate Communications

Further information:
Investors: Sophie Jolly, Vice President, Investor Relations, +358 40 828 7317
Media: Pauliina Vuosio, Vice President, Financial Communications, +358 50

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