FORTUM CORPORATION INVESTOR NEWS 24 APRIL 2025 AT 16:15 EEST

Fortum has signed an agreement to acquire the shareholding in the Polish electricity solutions provider Orange Energia Sp. z o.o. on a cash and debt-free basis for a maximum of approximately PLN 120 million (EUR 28 million) from Orange Polska S.A. As part of the agreement, Fortum will continue to sell electricity and related digital services through Orange Polska's nationwide retail sales distribution network at least until the end of 2028, significantly strengthening Fortum's commercial capabilities and growth potential in Poland. Upon closing, expected in June or July 2025, approximately PLN 90 million (EUR 21 million) will be paid in cash. According to an agreed earn-out, the remaining amount will be settled by the beginning of 2029 based on achieved electricity sales volume targets. The transaction is subject to customary closing conditions.

The acquisition supports Fortum's strategic priorities to deliver reliable and clean energy, to drive decarbonisation of its customers' processes, and to transform and develop. The transaction offers high synergies and turnaround potential through Fortum's digital platform and well-established position as a clean electricity solutions provider in Poland.

Orange Energia is one of the largest independent electricity retailers in Poland with a portfolio of approximately 130,000 customer contracts. The customer base consists of households as well as small and mid-sized enterprise (SME) customers, which complements Fortum's established position among SME customers. In 2024, Orange Energia's sold electricity amounted to approximately 495 GWh with an EBITDA of PLN -22 million (approximately EUR -5 million) due to the electricity price cap in Poland. The company has approximately 70 employees. The transaction will have no impact on Orange Energia's customers' current contracts.

"Orange Energia is the leading independent electricity solutions provider among consumers with a strong commitment to energy from renewable sources. The combination of Orange Energia and Fortum will provide strong synergy benefits, which will enhance the development of new and increasingly digital solutions and services for our consumer and enterprise customers. We are very excited to be able to combine the businesses utilising the Fortum brand and develop it further", says Mikael Rönnblad, Executive Vice President of Fortum's Consumer Solutions business.

Fortum Corporation

Ingela Ulfves
Vice President, Investor Relations and Financial Communications

Further information:

Investors and analysts:
Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531
Rauno Tiihonen, Director, Investor Relations, tel. +358 10 453 6150
Siri Markula, Director, Investor Relations and Financial Communications, tel. +358 40 743 2177

Media:
Fortum News Desk, tel. +358 40 198 2843