Slides
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FORTUM Fortum and Google partner Markus Rauramo CEO September 9th, 2026
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Deliver reliable energy to customers Drive decarbonisation in industries Transform and develop STRATEGIC PRIORITIES Ourpurpose is TO POWERA WORLDWHEREPEOPLE, BUSINESSESAND NATURETHRIVETOGETHER. Aim high Win togetherWith care VALUES 2
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3 Low-carbon power and competitive prices in the Nordic power market – attracting new demand 3 Low-carbon Affordable electricity Waste heat utilisation Land and water availability Skilled workforce Grid and infrastructure WHY NORDICS? MARKET PRICE (€/MWh, 2027) Lower Higher ~40€ ~60€ ~100€ ~90€ ~80€ ~100€
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375 395 550 760 975 2023 2025 2030 2040 2050 TWh/a 4 Projected power demand growth provides attractive business opportunities for Fortum NORDIC POWER DEMAND Hydrogen & derivatives Steel, batteries Data centresEV & district heating PROJECTED NORDIC DEMAND Hydrogen Data centres Industrial consumption EVs District heating General consumption Actual consumption Source: Nordics TSO report, updated in June 2025 Data centres P2X for industry & transport Electrified district heating Battery manufacturing Ammonia and fertilisers, existing refineries Green metals Pulp & paper POWER DEMAND – CURRENTLY DRIVEN BY DATA CENTRES
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5 Nuclear Power Purchase Agreement signed – Fortum and Google partner to drive sustainable growth for Finland Partnership area Description Power Purchase Agreement Memorandum of Understanding Nuclear-based PPA The 22-year nuclear PPA covers up to 50% of Loviisa NPP* LTE. The contract anchors the commercial relationship, provides the economic certainty. The PPA supports Fortum’s profitability targets and is expected to increase the Group comparable RONA by appr. 1.4 ppt over time when 50% of the plants’ capacity is contracted. Site development Parties to explore the suitability of Fortum’s powered land sites for Google’s future data centre needs. Asset development Parties to explore new renewables, BESS and other flexibility solutions, such as batteries and pumped hydro, to enable sustainable future growth for Google. New-build nuclear Parties to explore new nuclear build cooperation. Energy portfolio management Parties to explore models for Fortum to become a strategic partner managing Google’s energy portfolio in Finland. *Loviisa NPP capacity 2 x 507 MW, plant uprates: decided 38 MW and potential future 10 MW NPP=nuclear power plant, LTE=life-time extension, BESS = battery energy storage system
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Q&A