Fortum (FORTUM) investor relations material

Opening remarks and agenda

• Chairman welcomed shareholders, outlined safety instructions, and introduced the meeting agenda, emphasizing the review of 2025 financial events and achievements.

• Legal and organizational procedures were confirmed, including the appointment of the meeting chair and scrutineers.

• Statutory requirements for convening the AGM were met, with 2,451 shareholders present or represented, accounting for 77.12% of shares.

Financial performance review

• 2025 saw continued optimization of hydropower and nuclear assets, digitalization, and efficiency improvements.

• Capital allocation prioritized a strong balance sheet, with a BBB+ credit rating and gearing capped at 2.5x net debt/EBITDA.

• Dividend payout ratio set at 90% of comparable earnings per share, with a proposed dividend of EUR 0.74 per share.

• Committed capital expenditure of EUR 2.0 billion planned for 2026–2030, with potential for an additional EUR 2.5 billion if attractive opportunities arise.

• Auditor confirmed financial statements give a true and fair view, with no material issues in sustainability reporting.

Board and executive committee updates

• Nine board members elected, with a mix of energy, technology, and business expertise; two new candidates proposed for future election.

• Board committees (Audit and Risk, People and Remuneration, Technology and Investment) met 17 times, with a 99% attendance rate.

• Board self-evaluation conducted in late 2025 to improve effectiveness.

• Board size increased to 10 members to enhance committee work and skill diversity.