Fortum’s Interim Report April-June 2012

CEO Tapio Kuula

The industry-typical seasonality and the external environment may cause short-term volatility; nevertheless, Fortum has a strong financial situation.

Electricity consumption in the Nordic countries increased slightly during the quarter, however, the increase was attributable to colder weather and partly offset by decreased industrial demand. Market conditions
Nordic power prices were significantly lower compared to the same period in 2011. Power Division
The construction project of the new units in Nyagan will be delayed slightly further, but this does not change the overall schedule or financial targets of the Russian investment programme. Russia Division