Fortum issues EUR 1.15 billion eurobonds

FORTUM CORPORATION STOCK EXCHANGE RELEASE 17 MAY 2023 AT 18:10 EEST

Release category: Other releases disclosed according to the rules of Exchange

Fortum has today successfully returned to the fixed income market and issued five and ten year bonds with a total nominal amount of EUR 1.15 billion under its Euro Medium Term Note (EMTN) programme. The bonds were issued across two tranches with the following maturities:

• EUR 500 million maturing on 26 May 2028 with a 4.0% fixed coupon
• EUR 650 million maturing on 26 May 2033 with a 4.5% fixed coupon

The bonds were allocated to more than 100 institutional investors and will be listed on the Luxembourg Stock Exchange. The proceeds will be used for general corporate purposes with the main objective to refinance existing debt and extend the maturity profile of the company’s debt portfolio.

“Fortum has successfully returned to a stable footing after a volatile period amidst the energy crisis. Our overall financial situation is solid, and we are very pleased to have made a return to the European fixed income market. The euro bond issuance will further increase our financial flexibility, says Fortum’s CFO Tiina Tuomela.

“The good demand for our bonds demonstrates the interest and confidence in Fortum’s renewed business strategy. The market clearly appreciates our focus on reliable clean power generation and driving decarbonisation of industries in the Nordics with our best-in-class asset portfolio”, she concludes.

Barclays and BNP Paribas acted as Joint Global Coordinators, and together with Danske Bank, ING, Mizuho and Nordea acted as Joint Bookrunners on the transaction.

Fortum Corporation

Ingela Ulfves Vice President, Investor Relations and Financial Communications

Further information:

Jouni Huttunen, Group Treasurer, Fortum Corporation, tel. +358 50 452 4649
Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel.+358 40 515 1531

Distribution:

Nasdaq Helsinki
Main media
www.fortum.com

Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com