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Press release

STUK approves periodic safety assessment of Fortum’s Loviisa power plant

07 February 2017, 09:30 EET

FORTUM CORPORATION PRESS RELEASE 7 February 2017

STUK (Finland’s Radiation and Nuclear Safety Authority) notes in its decision
on the Loviisa nuclear power plant’s periodic safety assessment, published on 6
February 2017, that continued operation of the Loviisa nuclear power plant is
safe and meets the requirements set by legislation.

In 2007, the Loviisa power plant’s operating licenses were extended to 2027
(for unit one) and 2030 (for unit two) on the condition that a periodic safety
assessment of the plants be performed every ten years. STUK requires that two
periodic safety assessments of the Loviisa power plant are performed during the
license period.

Fortum submitted the first periodic safety assessment materials for STUK’s
approval within the required timetable, i.e. by the end of 2015. In practice,
the assessment is a massive set of reports and documents regarding the nuclear
power plant’s safety status, the possible targets of development, and the
maintaining of the safety. The scope of the periodic safety assessment
corresponds to the assessment performed in conjunction with the renewal of an
operating license. In addition to the documents submitted by the company, STUK
has performed various inspections at the power plant.

“The Loviisa power plant has produced electricity with nuclear power for nearly
forty years. During this time, safety and availability have been continuously
developed with new technical improvements and by continuously investing in
know-how and in the development of the safety culture,” says Deputy Director
Thomas Buddas, responsible for nuclear safety at the Loviisa power plant.

“The most extensive modernisation programme in the Loviisa power plant’s
history is currently under way and will ensure safe and reliable electricity
production to the end of the existing operating licenses. The safety
improvements included in the programme will be implemented at both plant units
in 2016-2018, and STUK is monitoring and overseeing the progress of the
projects as part of continuous monitoring,” Buddas continues.

Fortum Corporation
Group Communications

Further information:
Thomas Buddas, Deputy Director, Loviisa Power Plant, Fortum, tel. +358 50
4553710

Nuclear plants’ periodic safety assessments in Finland and at Loviisa power
plant
Renewal of a nuclear power plant’s operating license requires a thorough
assessment of safety. If the operating license is granted for a period longer
than 10 years, STUK will conduct a periodic safety assessment during the
operating license period. The scope of the safety assessment corresponds to the
assessment performed in conjunction with a renewal of the operating license.
The assessments review the condition of the plant, and especially the impact of
ageing on the plant and its equipment and structures. Additionally, the
conditions of the organisation for the continued safe operation of the plant
are assessed.

A condition of the operating licenses granted to the Loviisa power plant in
2007 is that two periodic safety assessments are carried out during the license
period. The first of them was submitted for STUK’s approval at the end of 2015,
and the second one will be submitted by the end of 2023.

Loviisa power plant
In 2016, the load factor at Fortum’s fully-owned Loviisa nuclear power plant
was 91.1%. On an international scale, the load factor was among the best in the
world for pressurised water reactor power plants. The plant produced a total of
8.33 terawatt hours, which is approximately 13% of Finland’s total electricity
production. The Loviisa power plant employs approximately 500 Fortum employees
and 100 permanent contractors. In 2016, Fortum invested EUR 100 million into
the Loviisa nuclear power plant.

Fortum
Fortum is a leading clean-energy company that provides its customers with
electricity, heating and cooling as well as smart solutions to improve resource
efficiency. We want to engage our customers and society to join the change for
a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic
countries, Russia, Poland and India, and 62% of our electricity generation is
CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on
Nasdaq Helsinki. www.fortum.com