NatWest Markets Plc – Stabilisation Notice


Not for distribution, directly or indirectly, in or into the United
States or any jurisdiction in which such distribution would be unlawful.

Teollisuuden Voima OYJ

Post-Stabilisation Notice

NatWest Markets Plc (contact: Sam Boughton, TEL: 020 7085 7683) hereby
gives notice that no stabilisation (within the meaning of Article 3.2(d)
of the Market Abuse Regulation (EU/596/2014)), was undertaken by the
Stabilising Manager(s) named below in relation to the offer of
the following securities.

Issuer:   Teollisuuden Voima OYJ
Guarantor (if any): n/a
Aggregate nominal amount: EUR400m
Description: 6y Fixed Rate, XS1816329418
Stabilising Manager(s) NatWest Markets Plc (co-ordinating stabilisation manager)

Danske Bank A/S
MUFG Securities EMEA plc
Swedbank AB

Offer price: 99.075

This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of the Issuer in any

This announcement is not an offer of securities for sale into the United
States. The securities referred to above have not been, and will not be,
registered under the United States Securities Act of 1933 and may not be
offered or sold in the United States absent registration or an exemption
from registration. There has not been and will not be a public offer of
the securities in the United States.


NatWest Markets Plc
Sam Boughton
TEL: 020 7085 7683