CORRECTION: The plant supplier updated its arbitration claim concerning the delay of OL3 project

AREVA-Siemens consortium has informed that the quantification in the updated claim it submitted to the ICC arbitration proceedings on 29th October 2013 was incorrect. Correction to the related stock exchange release of Teollisuuden Voima:

The updated quantification until the end of June 2011, together with the earlier claim, is in total approximately EUR 2.7 billion.

TEOLLISUUDEN VOIMA OYJ, STOCK EXCHANGE RELEASE 29thOctober 2013 at 1.30pm

AREVA-Siemens consortium, which is building the Olkiluoto 3 nuclear power plant unit under a fixed-price turnkey contract, has submitted an updated claim to the ICC arbitration proceedings concerning the delay of the project and the ensuing costs. The updated quantification until the end of June 2011, together with the earlier claim, is in total approximately EUR 2.6 billion. Among other things, the sum includes approximately EUR 70 million of payments delayed by TVO under the plant contract as well as approximately EUR 700 million of penalty interest and approximately EUR 120 million of alleged loss of profit.

TVO will now scrutinize the new material and respond to it in due course.

The proceedings in the International Chamber of Commerce (ICC) arbitration were initiated in December 2008 by the OL3 supplier. The supplier's previous monetary claim was approximately EUR 1.9 billion. The quantification estimate of TVO's costs and losses was approximately EUR 1.8 billion in the claim that TVO submitted in the arbitration in September 2012. The arbitration proceedings may continue for several years, and the claimed amounts may be updated.

- TVO has considered and found the earlier claim by the supplier to be unfounded and without merit. We have a fixed-price turnkey contract under which the supplier has committed to deliver a nuclear power plant unit according to the contract fulfilling the Finnish safety standards. According to the plant contract the supplier is responsible for the delay and the ensuing costs, tells Senior Vice President Risto Siilos in charge of legal affairs in TVO.

Originally the commercial electricity production of the OL3 plant unit was scheduled to start at the end of April 2009. The completion of the project, however, has been delayed. Based on the progress reports received from the Supplier, TVO announced in February that the Company will prepare for the possibility that the start of regular electricity production may be postponed until year 2016.

TVO has not recorded any receivables or provisions on the basis of claims presented in the arbitration proceedings.

Further information:

Risto Siilos, Senior Vice President, Corporate Resources and Deputy CEO

tel: +358 2 8381 5100

Teollisuuden Voima Oyj is a Finnish nuclear power company founded in 1969 for safe and reliable production of electric energy to the Finnish society at a reasonable price. The nuclear power generated at TVO's Olkiluoto plants accounted in 2012 for ca. one sixth of the total energy consumption in Finland. Clean energy production not only benefits the Finnish society but also contributes to the global reduction of environmental impact.