Investor Presentaiton

Regulatory capital and WACC defined by the Energy Authority set the allowed return Total capital invested in transmission network operations Regulatory capital (equity and liabilities) Х Operating profit (Finnish GAAP) Accounting item and regulatory adjustments Interest expenses are excluded in the regulatory P&L Book depreciations adjusted (returned) Main driver is the risk- free rate, i.e. Finland's 10y government bond yield WACC Calculated annually, monitored by the EA in four year periods Allowed return, MEUR 43 II Incentives Investment, quality, efficiency, innovation Realized regulatory profit Incentives do not have a major impact on regulatory profit on net basis Fingrid aims to match realized regulatory profit and allowed return on an annual basis Fingrid Debt Investor Presentation 28.3.2018 FINGRID

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