Oslo City Council approves Hafslund ownership restructuring between Fortum and the City of Oslo

The Oslo City Council (Bystyret) has approved the ownership restructuring of
Hafslund ASA between the City of Oslo and Fortum. The transactions received
approval from the Norwegian, Swedish and Finnish competition authorities in May
and June. The transactions are still subject to one regulatory approval in
Norway and the fulfilment of the customary closing conditions. The closing of
the transactions is expected during the third quarter of 2017.

The ownership restructuring was originally published on 26 April 2017.

Fortum Corporation
Måns Holmberg, Acting Head of Investor Relations and Financial Communications

Additional information:
Måns Holmberg, Acting Head of Investor Relations and Financial Communications,
tel. +358 44 518 1518

Stock exchange release 26 April 2017: Fortum and City of Oslo restructure
ownership in Hafslund and announce partnership for a greener Oslo

Distribution:
Nasdaq Helsinki
Key media
www.fortum.com

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