Fortum to sell its head office campus in Keilaniemi, Espoo, to Regenero Oy

FORTUM CORPORATION PRESS RELEASE 31 October 2017

Fortum and Fortum’s Pension Fund will sell Fortum’s current head office campus

in Keilaniemi, Espoo, to Regenero Oy. The transaction includes the head office

buildings and the plots.



Fortum announced earlier this year that the company’s head office will move at

the turn of 2017-2018 to a refurbished multi-space office in Keilaniemi, Espoo.

In addition to Fortum, the new head office building will house Tieto Oyj and

Microsoft Oy. At the same time the company also announced that it was reviewing

the continuation of its current head office. The primary alternative was to

sell the building.



“We are pleased to have reached this point in the project. The new owner can

now start the work to develop the iconic high-rise and the surrounding area. We

will focus on our core business and will move into premises in Espoo that will

better accommodate our current operations,” notes Risto Penttinen, Senior Vice

President, Strategy, People and Performance, Fortum.



“Regenero’s goal is to develop the entire Keilaniemi area. With the real estate

acquisition, Regenero can create a sustainable, multi-use urban environment

close to excellent public transportation services that are continuing to

develop with the Western Metro Extension,” says Juha Kostiainen, Chairman of

Regenero’s Board of Directors.



“Fortum’s head office move is part of a broader corporate culture change, which

will strengthen innovativeness and support open interaction between employees

and a modern management approach. Our intention is to get the best possible

benefit from new technologies in our daily work. We also want to promote the

work wellbeing of our personnel by offering an inspiring working environment

and the opportunity for flexible working,” says Risto Penttinen.



The value of the transaction is about EUR 74 million. Fortum will record the

profit from the sale in its first-quarter 2018 financial result.





Fortum Corporation

Group Communications





Further information:

Ville Halonen, Vice President, Corporate Procurement and Real Estate, Fortum,

tel. +358 40 832 4489

Juha Kostiainen, Senior Vice President, Sustainable Urban Development, YIT

Corporation, tel. +358 400 721 475, juha.kostiainen@yit.fi





Additional information about Fortum’s move:

Press Release 3 April 2017: Fortum's head office in Keilaniemi, Espoo, will move





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 9,000 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



Regenero

Regenero is a joint venture formed by YIT and HGR Property Partners founded in

2016 to further deepen the collaboration of the parties and to prepare the

companies for future growth. The development projects of Regenero focus on

properties in key urban locations, aim at increasing the profile of the area

and they are implemented with long-term experience and expertise. The projects

to be implemented are of considerable size and can include various types of

premises such as office and retail as well as public premises.