FORTUM CORPORATION STOCK EXCHANGE RELEASE 27 JUNE 2024 AT 9:30 EEST

Release category: Changes board/management/auditors

Bernhard Günther, Chief Transformation Officer and member of Fortum Leadership Team, will leave Fortum at the end of 2024 by mutual agreement.

In March 2023, Fortum launched its Nordic strategy with focus on clean energy and announced a new business structure and operating model. To support the implementation of the new strategy and to drive efficiency and capability development, a temporary Transformation Office was established, with Bernhard Günther in the lead.

As the transformation initiatives are proceeding as planned and the work will be handed over to the line organisation, there is no further need for a dedicated Transformation Office.

"Bernhard and his team have successfully been driving the transformation of Fortum to ensure the efficient execution of our strategy. We have built new governance processes, developed our capabilities, and our cultural work is well underway. We will continue this transformation journey to ensure that our efforts on efficiency and cultural change will remain as a part of our daily operations. We highly value Bernhard's contribution to Fortum, which still continues for the rest of this year. I would like to take this opportunity to thank Bernhard for his commitment and to wish him all the best in his future endeavors," says Markus Rauramo, President and CEO of Fortum.

Fortum Corporation

Ingela Ulfves, VP, Investor Relations and Financial Communications

Further information:

Investors and analysts:
Ingela Ulfves, VP, Investor Relations and Financial Communications, tel. +358 40 515 1531

Media:
Fortum News Desk, newsdesk@fortum.com,+358 40 198 2843

Distribution:

Nasdaq Helsinki
Main media
www.fortum.com