NOKIA CORP

Issuer: Nokia Corporation

These units were moved into a dedicated operating segment called Portfolio Businesses while the company assesses the best value creating opportunity for them. The units moved were: (i) Fixed Wireless Access CPE (previously in Fixed Networks in Network Infrastructure), (ii) Site Implementation and Outside Plant (previously in Fixed Networks in Network Infrastructure), (iii) Enterprise Campus Edge (previously in Cloud and Network Services), and (iv) Microwave Radio (previously in Mobile Networks).

Network Infrastructure delivered 7% net sales growth in the fourth quarter including 17% growth in Optical Networks.

It is positioned for core and radio network technology and services leadership to lead the industry to AI-native networks and 6G.

Mobile Networks net sales grew by 6% in Q4 and were flat for the full year.

The new Mobile Infrastructure segment brings together Nokia’s Core Networks portfolio, Radio Networks portfolio and Technology Standards (formerly Nokia Technologies).

The reorganization recognizes Network Infrastructure as a growth segment, positioned to capitalize on the rapid, global AI and data center build-out while continuing to innovate for its telecommunications customer base.

Cloud and Network Services declined 4% in the quarter.

The segment consists of three business units Optical Networks, IP Networks and Fixed Networks and is led by David Heard.

In Nokia Technologies we continued to execute well and maintained a contracted net sales run-rate of EUR 1.4 billion.

The new Mobile Infrastructure segment brings together Nokia’s Core Networks portfolio, Radio Networks portfolio and Technology Standards (formerly Nokia Technologies).

Nokia is a global leader in connectivity for the AI era. With expertise across fixed, mobile, and transport networks, we’re advancing connectivity to secure a brighter world.

The new Mobile Infrastructure segment will bring together Nokia’s Core Networks portfolio, Radio Networks portfolio and Technology Standards, formerly Nokia Technologies.

and consists of three business units Optical Networks, IP Networks and Fixed Networks.

Nokia plans to move the following units into Portfolio Businesses: · Fixed Wireless Access CPE (currently in Fixed Networks in Network Infrastructure) · Site Implementation and Outside Plant (currently in Fixed Networks in Network Infrastructure) · Enterprise Campus Edge (currently in Cloud and Network Services) · Microwave Radio (currently in Mobile Networks)

will consist of three business units Core Software, Radio Networks and Technology Standards.

The reorganization recognizes Network Infrastructure as a growth segment, positioned to capitalize on the rapid, global AI and data center build-out while continuing to innovate for its telecommunications customer base.

Nokia is a global leader in connectivity for the AI era. With expertise across fixed, mobile, and transport networks, powered by the innovation of Nokia Bell Labs, we’re advancing connectivity to secure a brighter world.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

Our new 800G ZR/ZR+ pluggables for data center interconnect became generally available and have started shipping to a large US customer.

Corporate Development Organization will integrate Corporate Development, Strategic Partnerships, Mergers and Acquisitions, incubation activities and NGP Capital.

The Technology and AI Organization will integrate Nokia Bell Labs, Technology and AI Leadership, and Group Security.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

Mobile Networks net sales decreased 17% on a reported basis and 13% on a constant currency basis.

Cloud and Network Services net sales increased 10% on a reported basis, and 14% on a constant currency basis.

Nokia Technologies net sales were flat on a reported basis and increased 3% on a constant currency basis in the second quarter.

Effective 1 January 2025, Nokia moved its Managed Services business into its Mobile Networks segment.

Network Infrastructure net sales increased 25% on a reported basis and 8% on a constant currency and portfolio basis, reflecting growth across each of the business units.

Network Infrastructure grew 11% on a constant currency and portfolio basis while Cloud and Network Services grew 8%. Mobile Networks grew 2%.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

The Managed Services business provides outsourced network management of multi-vendor RAN networks for operators and, since 2021, has been part of Nokia’s Cloud and Network Services business group.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

Nokia targets to lower its cost base on a gross basis (i.e. before inflation) by between EUR 800 million and EUR 1 200 million by the end of 2026 compared to 2023, assuming on-target variable pay in both periods. This represents a 10-15% reduction in personnel expenses.

Nokia Technologies is responsible for managing and monetizing Nokia’s intellectual property, including the company’s industry leading patent portfolio. The business group licenses Nokia’s innovation and contributions to global technology standards to other companies.

At Nokia, we create technology that helps the world act together.

These programs include Nokia LTI Plans 2021‒2023 and 2024–2026, Nokia Employee Share Purchase Plan 2024‒2026 and 2016 Equity Incentive Plan of Infinera Corporation which will be assumed by Nokia following completion of the merger under the Merger Agreement ("Equity Programs").

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

In Cloud and Network Services we are seeing excellent momentum in 5G Core along with strong progress in network automation, cloudification and enabling network APIs.

Nokia Technologies continues to benefit from greater stability following the conclusion of its smart-phone renewal cycle and is making good progress expanding into the new growth areas.

In Mobile Networks, although market dynamics are more challenging, we have secured several important deals in the quarter, remain confident in our competitive position and are improving our gross margin.

Among the key highlights was a return to net sales growth in Network Infrastructure with Fixed Networks growing 9% in constant currency and IP Networks growing 6%.

Beginning from the second quarter of 2024 the Submarine Networks business, which was previously reported as part of Network Infrastructure operating segment, is presented as discontinued operation.

Nokia is focused on ensuring that Mobile Networks is positioned to serve its customers building the best performing networks, investing in its portfolio and creating value for Nokia’s shareholders.

The business has made significant progress this year both on right-sizing its cost-base while protecting its product roadmap and winning new deals with new customers and increasing share with existing customers.

Nokia is committed to the success of its Mobile Networks business, a highly strategic asset for both Nokia and its customers.

Issuer: Nokia Corporation

In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

Nokia Corporation Karakaari 7 FI-02610 Espoo Finland

Issuer: Nokia Corporation

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

The program is expected to lead to a 72 000 – 77 000 employee organization compared to the 86 000 employees Nokia had when the program was announced.

We now have a total of 11 operators signed up to the platform with many more in active discussions.

At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

Nokia Technologies – Nokia’s licensing business – will now enter a period of stability with no major smartphone agreements expiring for a number of years.

Nokia’s industry-leading patent portfolio is built on around €150 billion invested in R&D since 2000 and is composed of around 20,000 patent families, including over 6,000 patent families declared essential to 5G.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

Nokia’s industry-leading patent portfolio is built on more than €140 billion invested in R&D since 2000 and is composed of around 20,000 patent families, including over 6,000 patent families declared essential to 5G.

Nokia contributes its inventions to open standards in return for the right to license them on fair, reasonable and non-discriminatory (FRAND) terms.

Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06

* Nokia’s networks businesses include Network Infrastructure, Mobile Networks, and Cloud and Network Services.

During his presentation, Raghav will focus on the five growth segments outlined for CNS, including private wireless, AI and analytics, security, digital operations and 5G Core.

Network Infrastructure has extended its technology leadership position and is growing faster than the market

In 2021, Nokia significantly streamlined its operating model, moving from a matrix organization and creating four P&L-responsible business groups structured around unique customer offerings.

Mobile Networks substantially improved the competitiveness of its products, taking a leadership position in 5G and gaining significant market share

Cloud and Network Services has grown faster than the market in its five growth segments, including Enterprise private wireless, while rebalancing its portfolio

In addition to serving CSP customers, MN will accelerate its offerings to faster growing segments, including Enterprise, Cloud RAN, O-RAN, and the defense sector.

Raghav will outline next steps in the CNS strategy, including expansion in the enterprise connectivity segment, and maturing its business model with SaaS and Network as Code at the core.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks.

In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

At Nokia, we create technology that helps the world act together.

On 5 December 2023, Nokia announced it expects its revenue from AT&T in Mobile Networks will decrease over the next 2-3 years as a result of AT&T’s plans to commit to an Open RAN deployment in collaboration with other vendors over the next five years. AT&T had accounted for 5-8% of Mobile Networks net sales in 2023 to the date of the announcement.

Following that and AT&T’s decision to concentrate its radio network around a single vendor, Mobile Networks’ net sales are assumed to decline.

AT&T confirmed to Nokia that while its decision was driven by reasons specific to AT&T, it believes Nokia has highly competitive products and services in Radio Access Networks (RAN) and an accomplished R&D capability.

Nokia remains a key partner for AT&T within both its Network Infrastructure and Cloud and Network Services businesses.

Most recently, Japan’s NTT DOCOMO has selected Nokia’s O-RAN 5G network for their commercial deployment.

Nokia has a wide-ranging relationship with AT&T, supplying products and services across wireless, wireline and other network technologies, alongside similar relationships with other major North American network operators.

AT&T will also continue to buy products such as microwave radio links and femto solutions from Mobile Networks.

AT&T accounted for 5-8% of Mobile Networks net sales year-to-date in 2023.

Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

Under the authorization, the Board may issue new shares or treasury shares held by the Company.

The AGM authorized the Board to resolve to repurchase a maximum of 550 million Nokia shares by using funds in the unrestricted equity.

Shares may be repurchased to be cancelled, held to be reissued, transferred further or for other purposes resolved by the Board.

The AGM decided that no dividend is distributed by a resolution of the Annual General Meeting and authorized the Board to resolve on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

The authorization includes the right for the Board to resolve on all the terms and conditions of the issuance of shares and special rights entitling to shares, including issuance of shares or special rights in deviation from the shareholders’ pre-emptive rights within the limits set by law.

The Board will resolve separately on the amount and timing of each distribution of the dividend and/or assets from the reserve for invested unrestricted equity with the preliminary record and payment dates set out below.

The authorization may be used to develop the Company’s capital structure, diversify the shareholder base, finance or carry out acquisitions or other arrangements, settle the Company’s equity-based incentive plans, or for other purposes resolved by the Board.

The AGM authorized the Board to resolve to issue a maximum of 550 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act in one or more issues.

The authorization is effective until 8 October 2027 and it terminated the corresponding repurchase authorization granted by the Annual General Meeting on 29 April 2025 to the extent that the Board has not previously resolved to repurchase shares based on the respective authorization.

The shares may be repurchased otherwise than in proportion to the shares held by the shareholders.

The authorization is effective until 8 October 2027 and it terminated the corresponding authorization granted by the Annual General Meeting on 29 April 2025 to the extent that the Board has not previously resolved to issue shares or special rights based on such authorization.

The authorization is valid until the opening of the next Annual General Meeting.

Instead, the Board proposes to be authorized to resolve in its discretion on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

It is proposed that the authorization be effective until 8 October 2027 and terminate the authorization for issuance of shares and special rights entitling to shares resolved at the Annual General Meeting on 29 April 2025 to the extent that the Board has not previously resolved to issue shares or special rights based on such authorization.

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to repurchase a maximum of 550 million shares, which corresponds to less than 10% of the Company’s total number of shares.

The price paid for the shares under the authorization shall be based on the market price of the Nokia shares on the securities markets on the date of the repurchase or a price otherwise formed in a competitive process.

The Board of Directors proposes to the Annual General Meeting that based on the balance sheet to be adopted for the financial year ended on 31 December 2025, no dividend is distributed by a resolution of the Annual General Meeting.

The authorization would be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the period of validity of the authorization unless the Board of Directors decides otherwise for a justified reason.

The authorization may be used to develop the Company’s capital structure, diversify the shareholder base, finance or carry out acquisitions or other arrangements, settle the Company’s equity-based incentive plans or for other purposes resolved by the Board of Directors.

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to issue in total a maximum of 550 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Limited Liability Companies Act in one or more issues during the effective period of the authorization.

It is proposed that the authorization be effective until 8 October 2027 and terminate the authorization for repurchasing the Company’s shares granted by the Annual General Meeting on 29 April 2025 to the extent that the Board has not previously resolved to repurchase shares based on such authorization.

The authorization would be valid until the opening of the next Annual General Meeting.

The proposed maximum amount corresponds to less than 10% of the Company’s total number of shares.

It is proposed that the authorization be effective until 8 October 2027 and terminate the authorization for issuance of shares and special rights entitling to shares resolved at the Annual General Meeting on 29 April 2025 to the extent that the Board has not previously resolved to issue shares or special rights based on such authorization.

The Board also proposes that the Board be authorized to resolve to repurchase a maximum of 550 million shares.

On 28 October 2025, Nokia announced its Board of Directors had resolved to issue 166 389 351 new shares in a directed share issuance to enable NVIDIA Corporation (NVIDIA) to make a USD 1.0 billion (EUR 0.86 billion) equity investment, gross of the share issuance costs, in Nokia at a purchase price of USD 6.01 (EUR 5.16) per share.

The Board proposes that the Annual General Meeting authorize the Board to resolve to issue in total a maximum of 550 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Limited Liability Companies Act in one or more issues during the effective period of the authorization.

550 million shares corresponds to less than 10 percent of the Company’s total number of shares.

It is proposed that the authorization be effective until 8 October 2027 and terminate the authorization for repurchasing the Company’s shares granted by the Annual General Meeting on 29 April 2025 to the extent that the Board has not previously resolved to repurchase shares based on such authorization.

The Board of Directors of Nokia Corporation (“Nokia”) has resolved to issue 166 389 351 new shares in a directed share issuance to enable NVIDIA Corporation (“NVIDIA”) to make a USD 1.0 billion equity investment in Nokia.

Nokia will use the proceeds from the issuance to accelerate its strategic plans to advance trusted connectivity for the AI supercycle and other general corporate purposes.

Subject to certain customary closing conditions, NVIDIA will subscribe for the shares at a subscription price of USD 6.01 per share.

The subscription price shall be recorded in Nokia's reserve for invested unrestricted equity.

In November 2024, Nokia announced a new share buyback program to offset the dilutive effect of the acquisition of Infinera Corporation. Share purchases commenced on 25 November 2024 and by 31 March 2025 Nokia had acquired 143 051 153 shares for an aggregate amount of EUR 669 million. The program was completed on 2 April 2025 when Nokia had acquired 150 000 000 shares representing the maximum number of shares that could be repurchased under the program for an aggregate amount of EUR 703 million. The repurchased shares were canceled on 23 April 2025.

The purchase consideration transferred to the Infinera shareholders comprised cash and 127 434 986 Nokia shares in the form of American Depository Shares (ADSs).

Nokia's committed Revolving Credit Facility with nominal value of EUR 1 412 million was terminated in June 2025 and replaced with a EUR 1 500 million five-year multicurrency committed Revolving Credit Facility with two one-year extension options.

On 24 July 2025, the Board resolved to distribute a dividend of EUR 0.04 per share. The dividend record date is 29 July 2025 and the dividend will be paid on 7 August 2025.

The AGM authorized the Board to resolve to issue a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act in one or more issues.

The AGM decided that no dividend is distributed by a resolution of the Annual General Meeting and authorized the Board to resolve on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

The AGM authorized the Board to resolve to repurchase a maximum of 530 million Nokia shares by using funds in the unrestricted equity. Shares may be repurchased to be cancelled, held to be reissued, transferred further or for other purposes resolved by the Board. The shares may be repurchased otherwise than in proportion to the shares held by the shareholders (directed repurchase). The authorization is effective until 28 October 2026 and it terminated the corresponding repurchase authorization granted by the Annual General Meeting on 3 April 2024 to the extent that the Board has not previously resolved to repurchase shares based on the respective authorization.

Following this announced dividend, the Board’s remaining asset distribution authorization is a maximum of EUR 0.10 per share.

The surrendered notes are expected to be settled in cash in May 2025.

The acquisition resulted in a conversion event and a “make whole fundamental change” for Infinera’s convertible senior notes in accordance with relevant bond indentures.

During Q1 2025, net cash decreased by EUR 1 866 million, resulting in an end-of-quarter net cash balance of EUR 2 988 million.

The repurchases reduced the company’s unrestricted equity by approximately EUR 703 million and the repurchased shares were cancelled on 23 April 2025.

The Board of Directors proposes that the Annual General Meeting 2025 to be held on 29 April 2025 authorizes the Board to resolve on the distribution of an aggregate maximum of EUR 0.14 per share to be paid in respect of the financial year 2024.

The total purchase consideration was EUR 2.5 billion, consisting of cash proceeds, Nokia shares in the form of American Depositary Shares, the fair value of the portion of Infinera’s performance and restricted shares attributable to pre-combination services that were replaced with Nokia’s share-based payment awards and the fair value of Infinera’s convertible senior notes in line with relevant bond indentures.

The declines in both net cash and total cash were primarily related to the acquisition of Infinera offsetting free cash flow generation in the quarter.

This share buyback program was completed on 2 April 2025. Under this program, Nokia repurchased 150 million of its own shares at an average price per share of approximately EUR 4.69.

In the first quarter of 2025, Nokia recognized EUR 29 million loss from the change in the fair value of the convertible notes between the acquisition date and the reporting date.

The purchase consideration transferred to the Infinera shareholders comprised cash and 127 434 986 Nokia shares in the form of American Depository Shares (ADSs).

The impact to our net cash position in the quarter related to the Infinera acquisition was approximately EUR 2.3 billion. This consisted of EUR 990 million cash payment (net of acquired cash), EUR 785 million related to Infinera convertible bonds and EUR 550 million related to the acquisition of treasury shares to offset the dilution from shares issued related to the deal.

Between 25 November 2024 and 2 April 2025, Nokia repurchased 150,000,000 of its own shares (FI0009000681) at an average price per share of approximately EUR 4.69.

The repurchases under the share buyback program reduced the Company’s unrestricted equity by approximately EUR 703 million.

A total of 127,434,986 Nokia shares (NOKIA) held by Nokia Corporation were transferred today to Citibank, N.A., the depositary bank for Nokia’s American Depositary Share facility, for the distribution by Citibank, N.A., in its capacity as Exchange Agent, to such shareholders of Infinera Corporation (“Infinera”) who have validly elected either share consideration or mixed consideration in connection with the completion of Nokia’s acquisition of Infinera, in the form of American Depositary Shares.

The subscription price for the Nokia share (NOKIA) is the closing price of Nokia’s share (NOKIA) on Nasdaq Helsinki on the date of closing of the merger, on 28 February 2025.

The rest of the merger consideration will be paid to the shareholders of Infinera in cash.

All Nokia shares will be issued to Infinera shareholders in the form of American Depositary Shares.

The Board of Directors proposes to the Annual General Meeting that based on the balance sheet to be adopted for the financial year ended on 31 December 2024, no dividend is distributed by a resolution of the Annual General Meeting. Instead, the Board proposes to be authorized to resolve in its discretion on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

The authorization would be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the period of validity of the authorization unless the Board of Directors decides otherwise for a justified reason. The authorization would be valid until the opening of the next Annual General Meeting.

It is proposed that the authorization be effective until 28 October 2026 and terminate the authorization for issuance of shares and special rights entitling to shares resolved at the Annual General Meeting on 3 April 2024.

530 million shares corresponds to less than 10 percent of the Company’s total number of shares.

The repurchases would reduce distributable funds of the Company. The shares may be repurchased otherwise than in proportion to the shares held by the shareholders (directed repurchase).

The Board of Directors proposes that the Annual General Meeting 2025 authorizes the Board to resolve on the distribution of an aggregate maximum of EUR 0.14 per share to be paid in respect of the financial year 2024.

The Board proposes that the Annual General Meeting authorize the Board to resolve to issue in total a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Limited Liability Companies Act in one or more issues during the effective period of the authorization.

The Board also proposes that the Board be authorized to resolve to repurchase a maximum of 530 million shares.

On 30 January 2025, the Board resolved to distribute a dividend of EUR 0.03 per share. The dividend record date is 4 February 2025 and the dividend will be paid on 13 February 2025.

The repurchases will be funded using the Company's funds in the reserve for invested unrestricted equity and the repurchases will reduce the Company's total unrestricted equity.

The repurchases under the share buyback program reduced the Company’s unrestricted equity by EUR 600 million.

Under the share buyback program, by 30 September 2024, Nokia had repurchased 84 295 899 of its own shares at an average price per share of approximately EUR 3.48.

On 17 October 2024, the Board resolved to distribute a dividend of EUR 0.03 per share. The dividend record date is 22 October 2024 and the dividend will be paid on 31 October 2024.

On 19 July 2024, Nokia's Board of Directors decided to accelerate the timeframe for the share buyback program with the aim of completing the full EUR 600 million program by the end of this year instead of the initial two year timeframe.

In January 2024, Nokia’s Board of Directors initiated a share buyback program to repurchase shares to return up to EUR 600 million of cash to shareholders in tranches over a period of two years.

As repurchases for an aggregate purchase price of approximately EUR 132 million have already been executed in 2024, the aggregate purchase price for shares to be acquired during the remainder of the year is approximately EUR 468 million.

The purpose of the repurchases is to optimize Nokia's capital structure through the reduction of capital. The repurchased shares will be cancelled accordingly.

The maximum number of shares that can be repurchased under the program is 400 million shares (an increase from the initially announced 200 million shares) corresponding to approximately 7 % of the total number of shares in Nokia.

The repurchases will be funded using funds in the reserve for invested unrestricted equity and the repurchases will reduce total unrestricted equity.

The aggregate purchase price of all Nokia shares to be acquired shall not exceed EUR 600 million (an increase from the initially announced EUR 300 million).

In the interim, Nokia’s Board of Directors intends to accelerate the timeframe for the existing EUR 600 million share buyback program with the aim of completing the full EUR 600 million by the end of this year instead of the initial two year timeframe.

In January 2024, Nokia’s Board of Directors initiated a share buyback program to repurchase shares to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The first EUR 300 million phase of the share buyback program started in March 2024. Under this phase, Nokia had by 30 June 2024 repurchased 29 507 303 of its own shares at an average price per share of approximately EUR 3.41.

On 18 July 2024, the Board resolved to distribute a dividend of EUR 0.03 per share. The dividend record date is 23 July 2024 and the dividend will be paid on 1 August 2024.

The first EUR 300 million phase of the share buyback program started in March 2024 and it will end at the latest by 18 December 2024. Under this phase, Nokia has by 31 March 2024 repurchased 3 290 248 of its own shares at an average price per share of approximately EUR 3.27.

Following this announced distribution, the Board’s remaining distribution authorization is a maximum of EUR 0.09 per share.

In January 2024, Nokia’s Board of Directors initiated a share buyback program to repurchase shares to return up to EUR 600 million of cash to shareholders in tranches over a period of two years.

On 18 April 2024, the Board resolved to distribute a dividend of EUR 0.04 per share. The dividend record date is on 23 April 2024 and the dividend will be paid on 3 May 2024.

The authorization is effective until 2 October 2025 and it terminated the corresponding repurchase authorization granted by the Annual General Meeting on 4 April 2023 to the extent that the Board has not previously resolved to repurchase shares based on the respective authorization.

The AGM decided that no dividend is distributed by a resolution of the Annual General Meeting and authorized the Board to resolve on the distribution of an aggregate maximum of EUR 0.13 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity. The authorization is valid until the opening of the next Annual General Meeting.

The AGM resolved to authorize the Board to issue a maximum of 530 million shares through issuance of shares or special rights entitling to shares in one or more issues.

The AGM authorized the Board to resolve to repurchase a maximum of 530 million Nokia shares.

The authorization is effective until 2 October 2025 and it terminated the corresponding authorization granted by the Annual General Meeting on 4 April 2023.

The maximum number of shares that can be repurchased under the first phase of the program is 200 million shares corresponding to approximately 4 % of the total number of shares in Nokia.

The price payable per share shall be determined in public trading on the relevant trading venue at the time of the repurchase, in compliance with the price and volume limits applicable under the safe harbour rules.

The aggregate purchase price of all Nokia shares to be acquired shall not exceed EUR 300 million.

The Board of Directors proposes to the Annual General Meeting that based on the balance sheet to be adopted for the financial year ended on 31 December 2023, no dividend is distributed by a resolution of the Annual General Meeting. Instead, the Board proposes to be authorized to decide on the distribution of an aggregate maximum of EUR 0.13 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

The Board of Directors proposes that the Annual General Meeting 2024 authorizes the Board to resolve on the distribution of an aggregate maximum of EUR 0.13 per share to be paid in respect of the financial year 2023.

The Board of Directors proposes to the Annual General Meeting to be authorized to decide in its discretion on the distribution of an aggregate maximum of EUR 0.13 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

It is proposed that the authorization be effective until 2 October 2025 and terminate the authorization for issuance of shares and special rights entitling to shares resolved at the Annual General Meeting on 4 April 2023.

The Board also proposes that the Board be authorized to resolve to repurchase a maximum of 530 million shares.

The Board proposes that the Annual General Meeting authorize the Board to resolve to issue in total a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Limited Liability Companies Act in one or more issues during the effective period of the authorization.

The program targets to return up to EUR 600 million of cash to shareholders in tranches over a period of two years, subject to continued authorization from the Annual General Meeting.

It is proposed that the authorization be effective until 2 October 2025 and terminate the authorization for repurchasing the Company’s shares granted by the Annual General Meeting on 4 April 2023 to the extent that the Board has not previously resolved to repurchase shares based on such authorization.

On 25 January 2024, the Board resolved to distribute a dividend of EUR 0.03 per share. The dividend record date is on 30 January 2024 and the dividend will be paid on 8 February 2024.

The shares were repurchased under the second EUR 300 million phase of the EUR 600 million buyback program launched in 2022 during the period between 2 January 2023 and 10 November 2023.

The purpose of the repurchases was to optimize Nokia's capital structure through the reduction of capital.

The repurchases under the second phase of the share buyback program reduced the Company’s unrestricted equity by EUR 300 million.

Our ability to procure certain standard components and the costs thereof, such as semiconductors;

Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;

Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million.

The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations).

In 2023, Nokia commenced patent infringement proceedings against Amazon in several countries in relation to patents covering video-related technologies implemented in Amazon’s services and devices.

Given the lack of visibility, we have not taken an assumption related to tariffs in the second half of 2025.

Impact of inflation, increased global macro-uncertainty, major currency fluctuations, changes in tariffs and higher interest rates;

In September 2024, a regional court in Germany ruled that Amazon was infringing one of Nokia’s patents and issued an injunction.

Disturbance in the global supply chain;

Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;

Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;

Disturbance in the global supply chain;

In 2023, Nokia commenced patent infringement proceedings against HP in several countries. The patents in suit cover video coding technologies implemented in HP’s products.

In 2024, Nokia commenced patent infringement proceedings against Verifone in several countries, in relation to patents covering cellular technologies implemented in Verifone’s devices.

In 2023, Nokia commenced patent infringement proceedings against Amazon in several countries. The patents in suit cover video-related technologies implemented in Amazon’s services and devices.

Continental has now withdrawn that action.

Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;

Disturbance in the global supply chain;

In 2023, Nokia commenced patent infringement proceedings against Amazon in Germany, the European Unified Patent Court, India, the United Kingdom, the United States (International Trade Commission/District Court) and Brazil. Across these actions, more than 30 patents are in suit, covering video-related technologies implemented in Amazon’s services and devices.

In 2023, Nokia commenced patent infringement proceedings against HP in the United States (International Trade Commission/District Court), Brazil, Germany and the European Unified Patent Court. Across these actions, there are 14 patents in suit, covering video coding technologies implemented in HP’s products.

In 2019, Continental Automotive Systems (Continental) brought breach of FRAND (fair, reasonable and non-discriminatory terms) and antitrust claims against Nokia and others. The antitrust claims were dismissed. In 2022, this decision became final after Continental lost on appeal and reconsideration requests. Continental also brought breach of contract and FRAND-related claims against Nokia in 2021. In the beginning of 2023, Nokia’s motion to dismiss was granted in part and denied in part, and the action is proceeding on the remaining claims at this time.

In the first quarter of 2024, Nokia commenced patent infringement proceedings against Verifone in Germany and the European Unified Patent Court. Across these actions, there are five patents in suit, covering cellular technologies implemented in Verifone’s devices.

Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;

The agreement resolves all pending patent litigation between the parties, in all jurisdictions.

Nokia Technologies remains focused on resolving the outstanding litigation/renewal discussions with smartphone customers. If these discussions resolve by the end of 2023, Nokia assumes Nokia Technologies’ operating profit of more than EUR 1.0bn in 2024. If the renewal discussions are not concluded by the end of 2023, and resolved in 2024, Nokia would expect to benefit from additional catch-up payments covering periods of non-payment.

In addition, the AGM resolved to elect Meredith Whittaker as a new member of the Board for the same term of office.

On 13 May 2026, Nokia announced it had appointed Emma Falck as President of Mobile Infrastructure and member of the Nokia Group Leadership Team, effective 1 September 2026.

Name: Heard, David Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165760/5/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 184900 Unit price: N/A

Name: Prosi, Stephan Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165778/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 18326 Unit price: N/A

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165787/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 384402 Unit price: N/A

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165809/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 35088 Unit price: N/A

Name: Wirén, Marco Position: Chief Financial Officer Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165767/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 122656 Unit price: N/A

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165815/6/6 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 7237 Unit price: N/A

Name: Hanrahan, Victoria Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165817/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 2400 Unit price: N/A

Name: Niinimäki, Esa Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165796/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 85526 Unit price: N/A

Name: Hautala, Mikko Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 165763/4/4 ____________________________________________ Transaction date: 2026-07-09 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 25401 Unit price: N/A

Name: Johanna Mandelin Title: Global Head of Corporate Legal

Name: Hanrahan, Victoria Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06

Name: Owczarek, Konstanty Position: Other senior manager Issuer: Nokia Corporation

Earlier in her career, she was a Partner and Managing Director at Boston Consulting Group and held senior leadership roles at KONE.

Falck will be based in Espoo, Finland and report to Nokia’s President and Chief Executive Officer, Justin Hotard.

She holds a PhD in Computational Physics from Aalto University.

She joins Nokia from Siemens, where she serves as Executive Vice President, Products, Smart Infrastructure Buildings, leading a global organization across product management and development, and supply chain.

Nokia today announced the appointment of Emma Falck as President of Mobile Infrastructure and member of the Nokia Group Leadership Team, effective 1 September 2026.

Name: McNamara, Mike Position: Member of the Board

Name: Ihamuotila, Timo Position: Member of the Board

Name: Erenbjerg, Pernille Position: Member of the Board

Name: Whittaker, Meredith Position: Member of the Board

Name: Dannenfeldt, Thomas Position: Member of the Board

Name: Crain, Elizabeth Position: Member of the Board

Name: Ahopelto, Timo Position: Member of the Board

Name: Saueressig, Thomas Position: Member of the Board

Name: Hook, Lisa Position: Member of the Board

Name: Öistämö, Kai Position: Member of the Board

Name: Prosi, Stephan Position: Other senior manager Issuer: Nokia Corporation

By: /s/ Johanna Mandelin Name: Johanna Mandelin Title: Global Head of Corporate Legal

Name: Hotard, Justin Position: Chief Executive Officer

Person subject to the notification requirement Name: Heard, David Position: Other senior manager

Person subject to the notification requirement Name: Hotard, Justin Position: Chief Executive Officer

In addition, the AGM re-elected Deloitte Oy as the sustainability reporting assurer for Nokia Corporation for the financial year 2027.

Deloitte Oy has informed the Company that the key audit partner and key sustainability partner will be Authorized Public Accountant (KHT) and Authorized Sustainability Auditor (KRT) Jukka Vattulainen.

The AGM resolved, in accordance with the Board proposal, that the auditor and the sustainability reporting assurer elected for 2027 be reimbursed based on the purchase policy approved by the Board’s Audit Committee and the invoices approved by the Company.

The AGM re-elected Deloitte Oy as the auditor for Nokia for the financial year 2027.

If the term of a Board member terminates before the Annual General Meeting of 2027, the Board has a right to decide upon potential reclaim of the annual fees as it deems appropriate.

Elizabeth Crain was elected as Chair and Pernille Erenbjerg, Lisa Hook and Kai Öistämö as members of the Strategy Committee.

In addition, the AGM resolved to elect Meredith Whittaker as a new member of the Board of Directors for the same term of office.

The following nine members of the Board were re-elected for the term ending at the close of the next Annual General Meeting: Timo Ahopelto, Elizabeth Crain, Thomas Dannenfeldt, Pernille Erenbjerg, Lisa Hook, Timo Ihamuotila, Mike McNamara, Thomas Saueressig and Kai Öistämö.

The AGM resolved that approximately 40% of the annual fee will be paid in Nokia shares. The rest of the annual fee would be paid in cash to cover taxes arising from the remuneration.

The AGM resolved to elect ten members to the Board.

The members of the Board shall retain until the end of their directorship such number of shares that they have received as Board remuneration during their first three years of service on the Board.

The AGM also resolved that the members of the Board of Directors shall be compensated for travel and accommodation expenses as well as other costs directly related to Board and Committee work.

Thomas Saueressig was elected as Chair and Pernille Erenbjerg, Lisa Hook and Timo Ihamuotila as members of the Corporate Governance and Nomination Committee.

The AGM also resolved to pay a meeting fee of EUR 5 000 per meeting requiring intercontinental travel and EUR 2 000 per meeting requiring intracontinental travel for Board and Committee meetings to all Board members.

Thomas Dannenfeldt was elected as Chair and Timo Ahopelto, Elizabeth Crain and Timo Ihamuotila as members of the Personnel Committee.

Pernille Erenbjerg was elected as Chair and Thomas Dannenfeldt, Lisa Hook and Mike McNamara as members of the Audit Committee.

The AGM resolved that the annual fees to be paid to the members of the Board for the term ending at the close of the next Annual General Meeting are as follows: · EUR 440 000 for the Chair of the Board; · EUR 210 000 for the Vice Chair of the Board; · EUR 185 000 for each member of the Board; · EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 each for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and · EUR 15 000 for each member of the Audit Committee and Personnel Committee and EUR 10 000 for each member of the Technology Committee and Strategy Committee as an additional annual fee.

Kai Öistämö was elected as Chair and Timo Ahopelto, Mike McNamara and Meredith Whittaker as members of the Technology Committee.

Name: Dannenfeldt, Thomas Position: Member of the Board Issuer: Nokia Corporation

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation

The audit firm Deloitte Oy has provided an independent auditor’s report on Nokia’s ESEF financial statements based on a reasonable assurance engagement it has performed in accordance with International Standard on Assurance Engagements (ISAE) 3000.

It has been subject to limited assurance by Deloitte Oy, who has provided an Assurance report in accordance with International Standard on Assurance Engagements ISAE 3000 (revised).

Name: Sahgal, Raghav Position: Other senior manager

Name: Fisk, Louise Position: Other senior manager

Name: Heard, David Position: Other senior manager

Name: Heard, David Position: Other senior manager

Name: Heard, David Position: Other senior manager

Deloitte Oy has informed the Company that in the event it is re-elected as the auditor, the key audit partner will be Authorized Public Accountant (KHT) Jukka Vattulainen.

On the recommendation of the Board’s Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be re-elected as the sustainability reporting assurer for the financial year 2027.

On the recommendation of the Board’s Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2027.

Sari Baldauf has informed the Board’s Corporate Governance and Nomination Committee that she will no longer be available to serve on the Nokia Board of Directors after the Annual General Meeting.

Further, if elected, Ms. Whittaker will refrain from joining Board Committees other than the Technology Committee.

The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors to be held after the Annual General Meeting that Timo Ihamuotila be elected as Chair of the Board and Thomas Saueressig be elected as Vice Chair, subject to their election to the Board.

All Board member candidates, apart from Meredith Whittaker, have been determined to be independent of the Company and its significant shareholders for the term starting from the Annual General Meeting 2026 under the Finnish Corporate Governance Code and the rules of the New York Stock Exchange, as applicable.

She has been determined non-independent of the Company due to this research-focused advisory role.

The Board proposes that approximately 40% of the annual fee be paid in Nokia shares.

1) Timo Ahopelto (current member); 2) Elizabeth Crain (current member); 3) Thomas Dannenfeldt (current member); 4) Pernille Erenbjerg (current member); 5) Lisa Hook (current member); 6) Timo Ihamuotila (current member); 7) Mike McNamara (current member); 8) Thomas Saueressig (current member); 9) Meredith Whittaker (new member candidate); and 10) Kai Öistämö (current member).

Name: Ihamuotila, Timo Position: Member of the Board Issuer: Nokia Corporation

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2027.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be re-elected as the sustainability reporting assurer for the financial year 2027.

In line with Nokia’s Corporate Governance Guidelines, the Board proposes that approximately 40% of the annual fee be paid in Nokia shares.

On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the number of Board members be ten (10).

In addition, it is proposed that Meredith Whittaker, United States citizen, President of Signal Technology Foundation, be elected as a new member of the Board of Directors for a term until the close of the next Annual General Meeting.

The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors after the Annual General Meeting that Timo Ihamuotila be elected as the Chair of the Board and Thomas Saueressig be elected as the Vice Chair, subject to their election to the Board.

On the recommendation of the Corporate Governance and Nomination Committee, the Board further proposes to the Annual General Meeting that the following current Board members be re-elected as members of the Board of Directors for a term until the close of the next Annual General Meeting: Timo Ahopelto, Elizabeth Crain, Thomas Dannenfeldt, Pernille Erenbjerg, Lisa Hook, Timo Ihamuotila, Mike McNamara, Thomas Saueressig and Kai Öistämö.

On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the annual fees payable to Board members for a term ending at the close of the next Annual General Meeting are kept at the current levels: · EUR 440 000 for the Chair of the Board; · EUR 210 000 for the Vice Chair of the Board; · EUR 185 000 for each other member of the Board; · EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and · EUR 15 000 for each member of the Audit Committee and the Personnel Committee and EUR 10 000 for each member of the Technology Committee and the Strategy Committee as an additional annual fee.

It is led by Justin Hotard on an interim basis and consists of three business units Core Software, Radio Networks and Technology Standards.

The Board of Directors appointed Justin Hotard as the next President and CEO. He started in his new role on 1 April 2025.

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 138653/4/4 Transaction date: 2026-01-14 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 89000 Unit price: N/A

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 138638/4/4 Transaction date: 2026-01-14 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 9120 Unit price: N/A

Name: Wirén, Marco Position: Chief Financial Officer Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 138651/4/4 Transaction date: 2026-01-14 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 35987 Unit price: N/A

Name: Niinimäki, Esa Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 138647/4/4 Transaction date: 2026-01-14 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 28784 Unit price: N/A

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 138642/4/4 Transaction date: 2026-01-14 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 14151 Unit price: N/A

Name: Heard, David Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 138636/5/4 Transaction date: 2026-01-14 Outside a trading venue Instrument type: SHARE ISIN: US6549022043 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 81230 Unit price: N/A

It will be led by Justin Hotard on an interim basis

Patrik Hammarén will continue in the Group Leadership Team as President, Technology Standards, formerly Nokia Technologies, reflecting the significant value technology standards creates for Nokia.

The segment will continue to be led by David Heard

Raghav Sahgal will take the position of Nokia’s Chief Customer Officer, and will continue in the Group Leadership Team, driving a seamless customer experience for Nokia’s customers.

In addition, Tommi Uitto will step down from the Group Leadership Team, effective 31 December.

She joins Nokia from Roche Holding Group, where she most recently served as Global Head of People & Culture for Roche Diagnostics.

Pressner will be based in Finland and report to Nokia’s President and Chief Executive Officer, Justin Hotard.

Pressner has over 30 years of international experience in HR, talent management, and organizational transformation.

Nokia today announced the appointment of Kristen Pressner as Chief People Officer and member of the Group Leadership Team, effective 1 May 2026.

Name: Hammarén, Patrik Position: Other senior manager

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation

Name: Martikainen, Piia Susanna Position: Closely associated person (1): Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation

Deloitte Oy was re-elected as the auditor and the sustainability reporting assurer for Nokia for the financial year 2026 with Authorized Public Accountant Jukka Vattulainen as the auditor in charge.

On 10 February 2025, Nokia announced its President and CEO, Pekka Lundmark, would step down effective 31 March 2025. The Board of Directors appointed Justin Hotard as the next President and CEO. He started in his new role on 1 April 2025.

On 17 September 2025 Nokia announced changes to its leadership team and the creation of Technology and AI and Corporate Development Organizations to strengthen the company’s capabilities in technology innovation, bring better support to business development and create more focused organizations. Pallavi Mahajan joined Nokia as Chief Technology and AI Officer and Konstanty Owczarek as Chief Corporate Development Officer. Both Mahajan and Owczarek joined Nokia’s Group Leadership Team on 1 October 2025. Nishant Batra stepped down as Chief Strategy and Technology Officer and from the Group Leadership Team effective 30 September 2025.

He has held executive positions at HPE’s High Performance Compute, AI & Labs business, where he led strategy and business development, including the strategic pivot to Generative AI, as well as product life cycle management and other operating management.

This organization will be led by Pallavi Mahajan, previously Corporate Vice President and General Manager of Data Center and Artificial Intelligence Software at Intel.

Konstanty Owczarek to join Nokia as Chief Corporate Development Officer.

Pallavi Mahajan to join Nokia as Chief Technology and AI Officer

Nishant Batra has decided to step down as Chief Strategy and Technology Officer and from the Group Leadership Team effective 30 September 2025.

Both Mahajan and Owczarek will join Nokia’s Group Leadership Team on 1 October 2025.

Person subject to the notification requirement Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation

Person subject to the notification requirement Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation

Name: Heard, David Position: Other senior manager Issuer: Nokia Corporation

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation

Deloitte Oy was re-elected as the auditor and the sustainability reporting assurer for Nokia for the financial year 2026 with Authorized Public Accountant Jukka Vattulainen as the auditor in charge.

On 22 January 2025, Nokia announced that it had appointed Patrik Hammarén as President of Nokia Technologies and member of the Nokia Group Leadership Team.

On 26 June 2025, Nokia announced that its Chief People Officer, Lorna Gibb, has decided to leave the company and step down from its Group Leadership Team to pursue another opportunity, effective immediately.

As part of a managed transition, David Heard, NI Chief Strategic Growth Officer, and former CEO of Infinera, was promoted to President of Network Infrastructure and joined the Group Leadership Team, effective 1 July 2025.

On 10 February 2025, Nokia announced its President and CEO, Pekka Lundmark, will step down effective 31 March 2025. The Board of Directors has appointed Justin Hotard as the next President and CEO. He started in his new role on 1 April 2025.

Name: Heard, David Position: Other senior manager

Lorna joined Nokia in 2020 and has been the Chief People Officer and a member of the Group Leadership Team since June 2024.

She has been responsible for evolving Nokia’s people strategy and driving forward our talent and leadership programs.

Nokia today announces that its Chief People Officer, Lorna Gibb, has decided to leave the company and step down from its Group Leadership Team to pursue another opportunity, effective today.

Esa Niinimäki, Chief Legal Officer, will assume Lorna’s responsibilities in the interim period as the search commences.

A recruitment process has begun for her successor.

Victoria will report to Nokia’s President and CEO and be based in Espoo.

She will focus on driving strategic and operational initiatives, including operational excellence, improving cross-functional execution and ensuring organizational alignment across the Global Leadership Team.

He was previously CEO of Infinera and, prior to that held the role of Infinera’s Chief Operating Officer, responsible for leading the innovation of new solutions and the overall operational excellence of the company.

David will report to Nokia’s President and CEO, Justin Hotard, and be based in Dallas.

Victoria Hanrahan will join the Group Leadership Team as Chief of Staff to Nokia’s President and CEO, effective immediately.

Federico Guillén to retire from Nokia on 31 December 2025. He will step down as President of the Network Infrastructure (NI) business group and as a member of the Group Leadership Team on 30 June 2025.

David Heard, NI Chief Strategic Growth Officer, and former CEO of Infinera, is promoted to President of Network Infrastructure and joins the Group Leadership Team, effective 1 July 2025.

Name: Hotard, Justin Position: Chief Executive Officer Issuer: Nokia Corporation

Person subject to the notification requirement Name: Dannenfeldt, Thomas Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107275/6/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 21854 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Ahopelto, Timo Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107264/5/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 18732 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Crain, Elizabeth Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107266/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 19624 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Hook, Lisa Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107272/5/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 18732 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Ihamuotila, Timo Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107290/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 19624 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Saueressig, Thomas Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107312/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 17394 Unit price: 0.00 EUR

Person subject to the notification requirement Name: McNamara, Mike Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107297/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 18732 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Öistämö, Kai Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107303/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 19178 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Erenbjerg, Pernille Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107324/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 17840 Unit price: 0.00 EUR

Person subject to the notification requirement Name: Baldauf, Sari Position: Member of the Board Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 107332/4/4 Transaction date: 2025-05-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 41478 Unit price: 0.00 EUR

The AGM re-elected audit firm Deloitte Oy as the auditor for Nokia for the financial year 2026. In addition, the AGM elected authorized sustainability audit firm Deloitte Oy as the sustainability reporting assurer for Nokia Corporation for the financial year 2026.

The AGM resolved to elect ten members to the Board. The following eight members of the Board were re-elected for the term ending at the close of the next Annual General Meeting: Timo Ahopelto, Sari Baldauf, Elizabeth Crain, Thomas Dannenfeldt, Lisa Hook, Mike McNamara, Thomas Saueressig and Kai Öistämö. In addition, the AGM resolved to elect Pernille Erenbjerg and Timo Ihamuotila as new members of the Board of Directors for the same term of office.

The AGM resolved that approximately 40% of the annual fee will be paid in Nokia shares. The rest of the annual fee would be paid in cash to cover taxes arising from the remuneration.

The following Board members were elected to the Board’s Committees: · Thomas Dannenfeldt was elected as Chair and Pernille Erenbjerg, Lisa Hook and Mike McNamara as members of the Audit Committee. · Timo Ihamuotila was elected as Chair and Sari Baldauf, Pernille Erenbjerg and Thomas Saueressig as members of the Corporate Governance and Nomination Committee. · Thomas Dannenfeldt was elected as Chair and Timo Ahopelto, Sari Baldauf and Elizabeth Crain as members of the Personnel Committee. · Kai Öistämö was elected as Chair and Timo Ahopelto, Mike McNamara and Thomas Saueressig as members of the Technology Committee. · Elizabeth Crain was elected as Chair and Sari Baldauf, Lisa Hook, Timo Ihamuotila and Kai Öistämö as members of the Strategy Committee.

In its assembly meeting, the Board of Directors of Nokia Corporation elected Sari Baldauf as Chair and Timo Ihamuotila as Vice Chair of the Board.

On the recommendation of the Audit Committee, the Board proposes to the AGM that Deloitte Oy be re-elected as the auditor and the sustainability reporting assurer of the Company for the financial year 2026.

In addition, it is proposed that Pernille Erenbjerg, former Group CEO and President of TDC Group; and Timo Ihamuotila, CFO of ABB Ltd, be elected as new members of the Board of Directors for the same term.

The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors after the AGM that Sari Baldauf be re-elected as the Chair of the Board and Timo Ihamuotila be elected as the Vice Chair, subject to their election to the Board.

On 22 January 2025, Nokia announced that it had appointed Patrik Hammarén as President of Nokia Technologies and member of the Nokia Group Leadership Team.

On 10 February 2025, Nokia announced its President and CEO, Pekka Lundmark, will step down effective 31 March 2025. The Board of Directors has appointed Justin Hotard as the next President and CEO. He started in his new role on 1 April 2025.

By: /s/ Johanna Mandelin

Nokia’s Sustainability Statement, published as part of the annual review by the Board of Directors, is prepared in accordance with the European Sustainability Reporting Standards (ESRS), the reporting standards referred to in Chapter 7 of the Finnish Accounting Act and Article 8 of the EU Taxonomy Regulation and it has been assured by Deloitte Oy which has provided a limited assurance report in accordance with International Standard on Assurance Engagements ISAE 3000 (revised).

The Infinera team will join Nokia’s Optical Networks business – headed by its Vice President and General Manager, James Watt.

Meanwhile Infinera CEO, David Heard will join Nokia’s Network Infrastructure business group as NI Chief Strategic Growth Officer.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2026. Deloitte Oy has informed the Company that the key audit partner would be Authorized Public Accountant Jukka Vattulainen.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be re-elected as the sustainability reporting assurer for the financial year 2026.

the following persons are elected as Board members in an individual election: 1) Timo Ahopelto (current member); 2) Sari Baldauf (current member, Chair); 3) Elizabeth Crain (current member); 4) Thomas Dannenfeldt (current member); 5) Pernille Erenbjerg (new member candidate); 6) Lisa Hook (current member); 7) Timo Ihamuotila (new member candidate); 8) Mike McNamara (current member); 9) Thomas Saueressig (current member); and 10) Kai Öistämö (current member).

the number of Board members be ten (10).

EUR 440 000 for the Chair of the Board; · EUR 210 000 for the Vice Chair of the Board; · EUR 185 000 for each member of the Board; · EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and · EUR 15 000 for each member of the Audit Committee and the Personnel Committee and EUR 10 000 for each member of the Technology Committee and the Strategy Committee as an additional annual fee.

Target opportunity is 125% of base salary. Maximum opportunity is 281.25% of base salary.

Target award level is 200% of base salary at the date of grant, with maximum vesting of 400% of base salary.

The key changes to the Policy are as follows: • Clarification that malus provisions shall apply to all the President and CEO’s incentive plans with the same trigger events as for clawback provisions; and • Introduction of the possibility to grant restricted share awards to the President and CEO of up to 100% of annual base salary, vesting after a minimum of three years, subject to financial underpins and continued service.

The President and CEO is required to build and maintain a shareholding equivalent to 300% of base salary, to be achieved normally within five years of appointment.

Prior to this role, he held several leadership roles at large technology companies, including Hewlett Packard Enterprise and NCR Corporation.

He currently leads the Data Center & AI Group at Intel.

Lundmark will step down on 31 March 2025.

After leading Nokia since 2020, Nokia’s current President and CEO, Pekka Lundmark, has decided to step down from executive roles and move on to the next phase of his career.

The Board has appointed Justin Hotard as the next President and Chief Executive Officer of Nokia.

Nokia’s President and Chief Executive Officer, Pekka Lundmark, has informed the Board that he will step down.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be re-elected as the sustainability reporting assurer for the financial year 2026.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2026.

Deloitte Oy was re-elected as the auditor for Nokia for the financial year 2025 with Authorized Public Accountant Jukka Vattulainen as the auditor in charge.

it is proposed that Pernille Erenbjerg, Danish citizen, former Group CEO and President of TDC Group; and Timo Ihamuotila, Finnish citizen, Chief Financial Officer of ABB Ltd, be elected as new members of the Board of Directors for a term until the close of the next Annual General Meeting.

The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors after the Annual General Meeting that Sari Baldauf be re-elected as the Chair of the Board and Timo Ihamuotila be elected as the Vice Chair, subject to their election to the Board.

the Board proposes to the Annual General Meeting that the number of Board members be ten (10).

On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the annual fees payable to Board members for a term ending at the close of the next Annual General Meeting are kept at the current levels: · EUR 440 000 for the Chair of the Board; · EUR 210 000 for the Vice Chair of the Board; · EUR 185 000 for each member of the Board; · EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and · EUR 15 000 for each member of the Audit Committee and the Personnel Committee and EUR 10 000 for each member of the Technology Committee and the Strategy Committee as an additional annual fee.

Søren Skou and Carla Smits-Nusteling have informed the Board’s Corporate Governance and Nomination Committee that they will no longer be available to serve on the Nokia Board of Directors after the Annual General Meeting.

the following current Board members be re-elected as members of the Board of Directors for a term until the close of the next Annual General Meeting: Timo Ahopelto, Sari Baldauf, Elizabeth Crain, Thomas Dannenfeldt, Lisa Hook, Mike McNamara, Thomas Saueressig and Kai Öistämö.

On 22 January 2025, Nokia announced that it had appointed Patrik Hammarén as President of Nokia Technologies and member of the Nokia Group Leadership Team.

Prior to this role, Patrik held several senior positions in Nokia Technologies’ patent licensing business including: Chief Licensing Officer Wireless Technologies; Vice President, Head of IoT Licensing Program; and Head of Patent Licensing Greater China.

Hammarén joined Nokia in 2007 and has been acting President of Nokia Technologies since October 2024.

Hammarén will be based in Finland and report to Pekka Lundmark, Nokia’s President and Chief Executive Officer.

Espoo, Finland – Nokia today announced the appointment of Patrik Hammarén as President of Nokia Technologies and member of the Nokia Group Leadership Team, effective 22 January 2025.

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation

Name: Fisk, Louise Position: Other senior manager

Name: Uitto, Tommi Position: Other senior manager

He served as Finland’s ambassador to the United States between 2020 and 2024. Prior to that, he was the Ambassador of Finland to Russia between 2016 and 2020, and has held a range of government roles, including foreign policy advisor to Finland’s former President Sauli Niinistö.

Fisk’s previous role at Nokia was VP, Corporate Affairs Programs & Corporate Communications. Before joining Nokia, she worked in a number of senior leadership roles, including BAE Systems Applied Intelligence and Logica.

Patrik Hammaren, who is currently Chief Licensing Officer, Wireless Technologies, will assume an interim role leading Nokia Technologies and will be a member of the Group Leadership Team as the search commences for Lukander’s successor.

In addition, President of Nokia Technologies, Jenni Lukander, has decided to leave the company, effective December 31, 2024, and will step down from the Group Leadership Team immediately.

Chief Corporate Affairs Officer, Melissa Schoeb, has decided to leave the company, effective December 31, 2024, and step down from the Group Leadership Team immediately.

Former Finland ambassador to the U.S. Mikko Hautala has been appointed Chief Geopolitical and Government Relations Officer and member of the Group Leadership Team, effective November 1, 2024.

Louise Fisk has been promoted to Chief Communications Officer, and member of the Group Leadership Team, effective immediately.

Name: Esa Niinimäki Title: Chief Legal Officer

Name: Martikainen, Piia Susanna Position: Closely associated person (1): Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 75909/7/6 Transaction date: 2024-08-29 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 358 Unit price: N/A

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 75912/5/4 Transaction date: 2023-08-29 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 358 Unit price: N/A

Name: Batra, Nishant Position: Other senior manager

Name: Tatu Simula Title: Senior Legal Counsel

Name: Johanna Mandelin Title: Global Head of Corporate Legal

Person subject to the notification requirement Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 70708/5/4

Person subject to the notification requirement Name: Martikainen, Piia Susanna Position: Closely associated person (1): Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 70710/4/4

On 13 June 2024, Nokia announced the appointment of Lorna Gibb as Chief People Officer and member of the Group Leadership Team. Gibb joined Nokia in 2020 and has been Nokia’s Interim Chief People Officer since March 2024. In addition, it was announced that Ricky Corker, who served as Nokia’s Chief Customer Experience Officer since 2021 would leave and step down from Nokia’s Group Leadership Team.

On 28 March 2024, Nokia announced that its Chief People Officer, Amy Hanlon-Rodemich will leave and step down from its Group Leadership Team. A recruitment process began immediately for her successor.

Prior to this role she served as Vice President, Labor and Employment, being a member of Nokia’s People and Legal & Compliance Leadership Teams.

Lorna will be based in Finland and reports to Nokia’s President and Chief Executive Officer, Pekka Lundmark.

Lorna Gibb joined Nokia in 2020 and has been Nokia’s Interim Chief People Officer since March 2024.

He has been with Nokia for over 30 years and held several management positions within the company.

Nokia today announced the appointment of Lorna Gibb as Chief People Officer and member of the Group Leadership Team, effective immediately.

In addition, Ricky Corker, who has served as Nokia’s Chief Customer Experience Officer since 2021, will step down and leave the company on June 28, 2024.

Name: Schoeb, Melissa

Position: Other senior manager

Name: Martikainen, Piia Susanna Position: Closely associated person (1):Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION

Deloitte Oy was re-elected as the auditor for Nokia for the financial year 2025 with Authorized Public Accountant Jukka Vattulainen as the auditor in charge.

Deloitte Oy was elected as the sustainability reporting assurer for the financial years 2024–2025.

In addition, the AGM resolved to elect Michael McNamara as a new member of the Board for the same term. In its assembly meeting that took place after the AGM, the Board re-elected Sari Baldauf as Chair of the Board and Søren Skou as Vice Chair of the Board.

On 28 March 2024, Nokia announced that its Chief People Officer, Amy Hanlon-Rodemich will leave and step down from its Group Leadership Team. A recruitment process began immediately for her successor.

Name: Batra, Nishant Position: Other senior manager

Name: Wirén, Marco Position: Chief Financial Officer

Name: Niinimäki, Esa Position: Other senior manager

Name: Lundmark, Pekka Position: Chief Executive Officer

Name: Lukander, Jenni Position: Other senior manager

Name: Corker, Ricky Position: Other senior manager

Name: Sahgal, Raghav Position: Other senior manager

Name: Uitto, Tommi Position: Other senior manager

Name: Guillén, Federico Position: Other senior manager

Name: Martikainen, Piia Susanna Position: Closely associated person (1):Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager

Deloitte Oy has informed the Company that the key sustainability partner for the financial year 2024 will be Authorized Public Accountant (KHT) and Authorized Sustainability Auditor (KRT) Marika Nevalainen; and for the financial year 2025 Authorized Public Accountant (KHT) and Authorized Sustainability Auditor (KRT) Jukka Vattulainen.

Deloitte Oy has informed the Company that the auditor in charge will be Authorized Public Accountant (KHT) Jukka Vattulainen.

The AGM elected Deloitte Oy as the sustainability reporting assurer for Nokia for the financial years 2024 and 2025.

The AGM re-elected Deloitte Oy as the auditor for Nokia for the financial year 2025.

In addition, the AGM resolved to elect Michael (Mike) McNamara as a new member of the Board of Directors for the same term of office.

In an assembly meeting that took place after the AGM, the Board elected Sari Baldauf as Chair and Søren Skou as Vice Chair of the Board.

The following nine members of the Board were re-elected for the term ending at the close of the next Annual General Meeting: Timo Ahopelto, Sari Baldauf, Elizabeth Crain, Thomas Dannenfeldt, Lisa Hook, Thomas Saueressig, Søren Skou, Carla Smits-Nusteling and Kai Öistämö.

The AGM also resolved to pay a meeting fee of EUR 5 000 per meeting requiring intercontinental travel and EUR 2 000 per meeting requiring continental travel for Board and Committee meetings to all Board members.

The Board also elected the members of the five Board committees. Carla Smits-Nusteling was elected as Chair and Thomas Dannenfeldt, Lisa Hook and Mike McNamara as members of the Audit Committee. Thomas Dannenfeldt was elected as Chair and Timo Ahopelto, Sari Baldauf and Elizabeth Crain as members of the Personnel Committee. Søren Skou was elected as Chair and Sari Baldauf, Lisa Hook, Carla Smits-Nusteling and Kai Öistämö as members of the Corporate Governance and Nomination Committee. Kai Öistämö was elected as Chair and Timo Ahopelto, Mike McNamara and Thomas Saueressig as members of the Technology Committee. Elizabeth Crain was elected as Chair and Sari Baldauf, Thomas Dannenfeldt, Lisa Hook, and Søren Skou as members of the Strategy Committee.

The AGM resolved that the annual fees to be paid to the members of the Board for the term ending at the close of the next Annual General Meeting are as follows: · EUR 440 000 for the Chair of the Board; · EUR 210 000 for the Vice Chair of the Board; · EUR 185 000 for each member of the Board; · EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 each for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and · EUR 15 000 for each member of the Audit Committee and Personnel Committee and EUR 10 000 for each member of the Technology Committee and Strategy Committee as an additional annual fee.

The AGM resolved that approximately 40% of the annual fee will be paid in Nokia shares purchased from the market, or alternatively by using treasury shares held by the Company.

Amy joined Nokia in 2022 and has been key to renewing the company’s people services and employee experience.

A recruitment process will begin immediately for her successor and Amy will retain an advisory role during her notice period.

Nokia today announces that its Chief People Officer, Amy Hanlon-Rodemich, will leave the company and step down from its Group Leadership Team.

Lorna Gibb, Vice President, Labor & Employment, will assume the role of interim Chief People Officer for Nokia as the search commences.

The audit firm Deloitte Oy has provided an independent auditor’s report on Nokia’s ESEF financial statements based on a reasonable assurance engagement it has performed in accordance with International Standard on Assurance Engagements ISAE 3000.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2025. Deloitte Oy has informed the Company that the auditor in charge would be Authorized Public Accountant Jukka Vattulainen.

Therefore, on the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be elected as the sustainability reporting assurer for the financial years 2024 and 2025.

On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the annual fees payable to the Board members for a term ending at the close of the next Annual General Meeting are kept at the current levels: • EUR 440 000 for the Chair of the Board; • EUR 210 000 for the Vice Chair of the Board; • EUR 185 000 for each member of the Board; • EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 for the Chair of the Technology Committee as an additional annual fee; and • EUR 15 000 for each member of the Audit Committee and Personnel Committee and EUR 10 000 for each member of the Technology Committee as an additional annual fee.

The Corporate Governance and Nomination Committee intends to propose in the assembly meeting of the new Board of Directors to be held after the Annual General Meeting that Sari Baldauf be re-elected as Chair of the Board and Søren Skou as Vice Chair of the Board, subject to their election to the Board of Directors.

The Board has resolved to establish a Strategy Committee to support the management in terms of strategy work and to act as a preparatory body for the Board.

Jenni Lukander, President of Nokia Technologies, said: “We are delighted to have successfully completed our smartphone license renewal cycle.

Therefore, on the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Authorized Sustainability Audit Firm Deloitte Oy be elected as the sustainability reporting assurer for the financial years 2024 and 2025.

On the recommendation of the Audit Committee, the Board of Directors proposes to the Annual General Meeting that Deloitte Oy be re-elected as the auditor of the Company for the financial year 2025.

In addition, it is proposed that Michael McNamara, former Executive Vice President and Chief Information Officer of Target Corporation, be elected as a new member of the Board of Directors for a term until the close of the next Annual General Meeting.

The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors on 3 April 2024 that Sari Baldauf be re-elected as Chair of the Board and Søren Skou be re-elected as Vice Chair of the Board, subject to their election to the Board of Directors.

On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the annual fees payable to Board members for a term ending at the close of the next Annual General Meeting are kept at the current levels: ● EUR 440 000 for the Chair of the Board; ● EUR 210 000 for the Vice Chair of the Board; ● EUR 185 000 for each member of the Board; ● EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 for the Chair of the Technology Committee as an additional annual fee; and ● EUR 15 000 for each member of the Audit Committee and Personnel Committee and EUR 10 000 for each member of the Technology Committee as an additional annual fee.

Jeanette Horan has informed the Board’s Corporate Governance and Nomination Committee that she will no longer be available to serve on the Nokia Board of Directors after the Annual General Meeting.

On the recommendation of the Corporate Governance and Nomination Committee, the Board of Directors further proposes to the Annual General Meeting that the following current Board members be re-elected as members of the Nokia Board of Directors for a term ending at the close of the next Annual General Meeting: Timo Ahopelto, Sari Baldauf, Elizabeth Crain, Thomas Dannenfeldt, Lisa Hook, Thomas Saueressig, Søren Skou, Carla Smits-Nusteling and Kai Öistämö.

On 25 January 2023, Nokia announced it had appointed Esa Niinimäki as Chief Legal Officer and member of the Group Leadership Team.

Position: Other senior manager

Name: Niinimäki, Esa

Name: Esa Niinimäki Title: Chief Legal Officer

Pekka Lundmark, President and CEO of Nokia

By: /s/ Esa Niinimäki

Title: Chief Legal Officer

Position: Chief Financial Officer

Position: Chief Executive Officer

Name: Martikainen, Piia Susanna Position: Closely associated person

In Issuer Name: Uitto, Tommi Position: Other senior manager

NOKIA (FI0009000681) 279 843 137 shares 263 388 983 voting rights 4.87% shares 4.59% voting rights

The total number of shares in Nokia Corporation is 5 742 239 696, representing the same number of votes.

Resulting situation on the date on which threshold was crossed or reached 4.87% shares 4.59% voting rights 0.00% shares 0.00% voting rights 4.87% shares 4.59% voting rights 5 742 239 696

The number of own shares held by Nokia Corporation following the transfer is 88 583 624.

Resulting situation on the date on which threshold was crossed or reached 5.20% shares 4.92% voting rights n/a 5.20% shares 4.92% voting rights 5 742 239 696

TOTAL of A 298 784 430 shares 282 257 521 voting rights 5.20% shares 4.92% voting rights

The total number of shares in Nokia Corporation is 5 742 239 696, representing the same number of votes.

Position of previous notification (if applicable) 5.26% shares 5.05% voting rights n/a 5.26% shares 5.05% voting rights

Total of B n/a n/a

The number of own shares held by Nokia Corporation following the transfer is 132 136 437.

Transaction date: 2026-05-26 Venue: XNYS Instrument type: SHARE ISIN: US6549022043 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 22713 Unit price: 16.0179 USD

Volume: 44682 Volume weighted average price: 15.8117 USD

Transaction date: 2026-05-28 Venue: XNYS Instrument type: SHARE ISIN: US6549022043 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 21969 Unit price: 15.5984 USD

Notification type: INITIAL NOTIFICATION

Aggregated transactions (1): Volume: 37405 Volume weighted average price: 15.9878 USD

Transaction date: 2026-05-26 Venue: XNYS Instrument type: SHARE ISIN: US6549022043 Nature of the transaction: ACQUISITION

Transaction details (1): Volume: 37405 Unit price: 15.9878 USD

The number of own shares held by Nokia Corporation following the transfer is 132 353 333.

Nokia Corporation - Managers’ transactions (Prosi) Transaction notification under Article 19 of EU Market Abuse Regulation. ____________________________________________ Person subject to the notification requirement Name: Prosi, Stephan Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 157268/4/4 ____________________________________________ Transaction date: 2026-05-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 181 Unit price: 12.0876 Aggregated transactions (1): Volume: 181 Volume weighted average price: 12.0876

Nokia Corporation - Managers’ transactions (Heard) Transaction notification under Article 19 of EU Market Abuse Regulation. ____________________________________________ Person subject to the notification requirement Name: Heard, David Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 157264/4/4 ____________________________________________ Transaction date: 2026-05-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 482 Unit price: 12.0876 Aggregated transactions (1): Volume: 482 Volume weighted average price: 12.0876

Nokia Corporation - Managers’ transactions (Fisk) Transaction notification under Article 19 of EU Market Abuse Regulation. ____________________________________________ Person subject to the notification requirement Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 157259/5/4 ____________________________________________ Transaction date: 2026-05-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 121 Unit price: 12.0876 Aggregated transactions (1): Volume: 121 Volume weighted average price: 12.0876

Nokia Corporation - Managers’ transactions (Sahgal) Transaction notification under Article 19 of EU Market Abuse Regulation. ____________________________________________ Person subject to the notification requirement Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 157267/4/4 ____________________________________________ Transaction date: 2026-05-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1344 Unit price: 12.0876 Aggregated transactions (1): Volume: 1344 Volume weighted average price: 12.0876

Transaction date: 2026-04-29 Trading venue: SGMV Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 2668 Unit price: 10.0450 EUR

Transaction date: 2026-04-29 Trading venue: TQEM Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 1875 Unit price: 10.0450 EUR

Total aggregated transactions Volume: 15 000 Volume weighted average price: 10.0450 EUR

Transaction date: 2026-04-29 Trading venue: AQEA Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 420 Unit price: 10.0450 EUR

Transaction date: 2026-04-29 Trading venue: BEUP Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 8162 Unit price: 10.0450 EUR

Transaction date: 2026-04-29 Trading venue: LNEQ Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 1875 Unit price: 10.0450 EUR

Volume: 84404 Unit price: 9.1477 EUR Aggregated transactions (1): Volume: 84404 Volume weighted average price: 9.1477 EUR

The number of own shares held by Nokia Corporation following the transfer is 133 328 622.

The number of own shares held by Nokia Corporation following the transfer is 133 449 635.

A total of 4 619 321 Nokia shares (NOKIA) held by the company were transferred today without consideration to participants of Nokia's equity-based incentive plans in accordance with the rules of the plans.

The number of own shares held by Nokia Corporation following the transfer is 138 068 956.

Aggregated transactions (1): Volume: 150000 Volume weighted average price: 6.7072 EUR

Volume: 150000 Unit price: 6.7072 EUR

Position of previous notification (if applicable) 5.04% shares 4.83% voting rights n/a 5.04% shares 4.83% voting rights

According to a notification received under Chapter 9, Section 5 of the Finnish Securities Market Act (FSMA) by Nokia Corporation, the indirect proportion of voting rights of FMR LLC has on 5 March 2026 exceeded 5% of the total number of voting rights in Nokia Corporation.

Resulting situation on the date on which threshold was crossed or reached 5.26% shares 5.05% voting rights n/a 5.26% shares 5.05% voting rights 5 742 239 696

The total number of shares in Nokia Corporation is 5 742 239 696, representing the same number of votes.

Total of B n/a n/a

According to a notification received under Chapter 9, Section 5 of the Finnish Securities Market Act (FSMA) by Nokia Corporation, the indirect holdings of FMR LLC have on 2 March 2026 exceeded 5% of the total number of shares in Nokia Corporation.

TOTAL of A 289 538 191 shares 277 150 920 voting rights 5.04% shares 4.83% voting rights

Resulting situation on the date on which threshold was crossed or reached 5.04% shares 4.83% voting rights 5.04% shares 4.83% voting rights 5 742 239 696

Transaction date: 2026-02-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 251 Unit price: 6.3015 Aggregated transactions (1): Volume: 251 Volume weighted average price: 6.3015

Transaction date: 2026-02-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 174 Unit price: 6.3015 Aggregated transactions (1): Volume: 174 Volume weighted average price: 6.3015

Transaction date: 2026-02-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2391 Unit price: 6.3015 Aggregated transactions (1): Volume: 2391 Volume weighted average price: 6.3015

The number of own shares held by Nokia Corporation following the transfer is 139 291 855.

On the date of this notice of the Annual General Meeting the total number of shares in Nokia Corporation is 5 742 239 696, representing the same number of votes.

Instrument type: SHARE ISIN: FI0009000681 Nature of transaction: ACQUISITION

Total aggregated transactions Volume: 100 000 Volume weighted average price: 5,3740 EUR

The share issue was completed on 13 November 2025 with NVIDIA becoming an approximately 2.90% shareholder of Nokia.

The number of own shares held by Nokia Corporation following the transfer is 141 914 507.

The number of own shares held by Nokia Corporation following the transfer is 148 246 864.

The number of own shares held by Nokia Corporation following the transfer is 149 246 864.

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 130465/5/4 Transaction date: 2025-11-13 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2192 Unit price: 6.0601 Aggregated transactions (1): Volume: 2192 Volume weighted average price: 6.0601

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 130475/4/4 Transaction date: 2025-11-13 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 5 Unit price: 6.0572 Aggregated transactions (1): Volume: 5 Volume weighted average price: 6.0572

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 130468/5/4 Transaction date: 2025-11-13 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 135 Unit price: 6.0601 Aggregated transactions (1): Volume: 135 Volume weighted average price: 6.0601

The total number of Nokia shares following the completion of the share issuance and the registration of the new shares is 5 742 239 696.

The new shares represent approximately 2.90% of the total number of Nokia shares.

The number of own shares held by Nokia Corporation following the transfer is 149 267 180.

The number of own shares held by Nokia Corporation following the transfer is 149 393 938.

Volume: 7824

Instrument type: SHARE ISIN: FI0009000681

Transaction date: 2025-10-29 Venue : NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 4167 Unit price: 6.4316 EUR (2): Volume: 8250 Unit price: 6.457 EUR

Transaction date: 2025-10-28 Venue : NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 35686 Unit price: 5.486 EUR Aggregated transactions (1): Volume: 35686 Volume weighted average price: 5.486 EUR

Transaction date: 2025-10-29 Venue : NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 57589 Unit price: 6.322 EUR Aggregated transactions (1): Volume: 57589 Volume weighted average price: 6.322 EUR

The transaction will see NVIDIA become a 2.90% shareholder of Nokia.

The new shares represent approximately 2.98% of the total number of Nokia shares prior to the share issuance and approximately 2.90% of the total number of Nokia shares following the share issuance.

Nature of the transaction: ACQUISITION

Volume: 125 Unit price: 5.3602 EUR

Instrument type: SHARE ISIN: FI0009000681

Aggregated transactions (1): Volume: 125 Volume weighted average price: 5.3602 EUR

Infinera, the San Jose based global supplier of innovative open optical networking solutions and advanced optical semiconductors, has become part of the Nokia group effective as of the closing with Nokia holding 100% of its equity and voting rights.

The number of own shares held by Nokia Corporation following the transfer is 150 373 657.

The total number of Nokia shares following the registration will equal 5 575 850 345.

The number of own shares held by Nokia Corporation following the transfer is 30 910 312.

The number of own shares held by Nokia Corporation following the transfer is 30 995 291.

The number of own shares held by Nokia Corporation following the transfer is 31 131 121.

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 119099/4/4 Transaction date: 2025-08-14 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 6 Unit price: 3.5762 Aggregated transactions (1): Volume: 6 Volume weighted average price: 3.5762

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 119224/4/4 Transaction date: 2025-08-14 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3108 Unit price: 3.5793 Aggregated transactions (1): Volume: 3108 Volume weighted average price: 3.5793

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 119227/4/4 Transaction date: 2025-08-14 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2864 Unit price: 3.5793 Aggregated transactions (1): Volume: 2864 Volume weighted average price: 3.5793

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 119207/4/4 Transaction date: 2025-08-14 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 303 Unit price: 3.5793 Aggregated transactions (1): Volume: 303 Volume weighted average price: 3.5793

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 119089/5/4 Transaction date: 2025-08-14 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 5 Unit price: 3.5762 Aggregated transactions (1): Volume: 5 Volume weighted average price: 3.5762

Transaction date: 2025-08-12 Venue: NEW YORK STOCK EXCHANGE (XNYS) Instrument type: SHARE ISIN: US6549022043 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 816 Unit price: 4.09417 USD

The number of own shares held by Nokia Corporation following the transfer is 36 709 538.

The number of own shares held by Nokia Corporation following the transfer is 37 159 428.

Transaction date: 2025-07-28 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 183 Unit price: 3.6794 EUR

Transaction date: 2025-07-28 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 183 Unit price: 3.6794 EUR

The number of own shares held by Nokia Corporation following the transfer is 64 359 805.

The number of own shares held by Nokia Corporation following the transfer is 64 685 389.

The number of own shares held by Nokia Corporation following the transfer is 64 696 537.

The number of own shares held by Nokia Corporation following the transfer is 65 296 435.

The number of own shares held by Nokia Corporation following the transfer is 65 409 825.

The number of own shares held by Nokia Corporation following the transfer is 65 699 046.

The number of own shares held by Nokia Corporation following the transfer is 65 828 924.

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109276/4/4 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2385 Unit price: 4.5979

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109265/4/4 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1401 Unit price: 4.5979

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109127/4/4 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 4 Unit price: 4.5882

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109274/4/4 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3814 Unit price: 4.5979

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109268/4/4 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 234 Unit price: 4.5979

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109123/5/6 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 5 Unit price: 4.5882

Name: Gibb, Lorna Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 109273/4/4 Transaction date: 2025-05-19 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 160 Unit price: 4.5979

The number of own shares held by Nokia Corporation following the transfer is 66 044 770.

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 105646/4/4 Transaction date: 2025-04-28 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 156 Unit price: 4.3444 EUR

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 105643/4/4 Transaction date: 2025-04-28 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 156 Unit price: 4.3444 EUR

The Board proposes that the AGM authorizes the Board to repurchase a maximum of 530 million Nokia shares and to issue a maximum of 530 million shares through issuance of shares or special rights entitling to shares in one or more issues.

The total number of Nokia shares on 31 March 2025, equaled 5 605 850 345. On 31 March 2025, Nokia and its subsidiary companies held 225 018 945 Nokia shares, representing approximately 4.0% of the total number of Nokia shares and voting rights.

Infinera, the San Jose based global supplier of innovative open optical networking solutions and advanced optical semiconductors, has become part of the Nokia group effective as of the closing with Nokia holding 100% of its equity and voting rights.

Following those discussions, in the fourth quarter of 2024, Nokia exercised its call option, outlined in NSB’s shareholders' agreement, to initiate the process to become the sole shareholder by purchasing China Huaxin's approximately 50% share in NSB.

After the cancellation, Nokia Corporation holds 66 184 658 treasury shares.

After the cancellation, the total number of shares and votes in Nokia Corporation is 5 455 850 345.

The number of own shares held by Nokia Corporation following the transfer is 216 184 658.

The number of own shares held by Nokia Corporation following the transfer is 216 568 060.

The number of own shares held by Nokia Corporation following the transfer is 216 573 408.

Nokia Corporation now holds a total of 220,509,131 treasury shares.

The number of own shares held by Nokia Corporation following the transfer is 145 461 100.

The number of own shares held by Nokia Corporation following the transfer is 133,882,828.

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97331/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1713 Unit price: 4.78061

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97320/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1 Unit price: 4.7775

Name: Gibb, Lorna Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97347/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 115 Unit price: 4.78061

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97334/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2740 Unit price: 4.78061

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97335/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1596 Unit price: 4.78061

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97325/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 168 Unit price: 4.78061

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 97313/4/4 ____________________________________________ Transaction date: 2025-02-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3 Unit price: 4.7775

On the date of this notice of the Annual General Meeting the total number of shares in Nokia Corporation is 5 605 850 345, representing the same number of votes.

It is proposed that the authorization be effective until 28 October 2026 and terminate the authorization for repurchasing the Company’s shares granted by the Annual General Meeting on 3 April 2024 to the extent that the Board has not previously resolved to repurchase shares based on such authorization.

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to issue in total a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act in one or more issues during the effective period of the authorization.

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to repurchase a maximum of 530 million shares, which corresponds to less than 10% of the Company’s total number of shares.

It is proposed that the authorization be effective until 28 October 2026 and terminate the authorization for issuance of shares and special rights entitling to shares resolved at the Annual General Meeting on 3 April 2024.

Following those discussions, Nokia exercised its call option, outlined in NSB’s shareholders' agreement, to initiate the process to become the sole shareholder by purchasing China Huaxin's approximately 50% share in NSB.

Name: Gibb, Lorna Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93316/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 11792 Unit price: N/A

The number of own shares held by Nokia Corporation following the transfer is 229 094 210.

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93322/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 48522 Unit price: N/A

Name: Niinimäki, Esa Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93335/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 29378 Unit price: N/A

Name: Hammarén, Patrik Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93338/8/8 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 9785 Unit price: N/A

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93325/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 44055 Unit price: N/A

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93332/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 89000 Unit price: N/A

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93293/7/6 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 78821 Unit price: N/A

Name: Martikainen, Piia Susanna Position: Closely associated person (1): Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93343/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 10271 Unit price: N/A

The number of own shares held by Nokia Corporation following the transfer is 229 926 340.

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93305/4/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 14151 Unit price: N/A

Name: Wirén, Marco Position: Chief Financial Officer Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 93310/6/4 Transaction date: 2025-01-22 Outside a trading venue Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 36729 Unit price: N/A

After the cancellation, the total number of shares and votes in Nokia Corporation is 5 605 850 345.

After the cancellation, Nokia Corporation holds 208 160 941 treasury shares.

The total number of Nokia shares following the registration will equal 5 763 496 565.

The maximum number of shares that can be repurchased under the program is 150 million shares corresponding to approximately 3% of the total number of shares in Nokia.

Between 20 March 2024 and 21 November 2024, Nokia repurchased 157,646,220 of its own shares (FI0009000681) at an average price per share of approximately EUR 3.81.

The repurchases were executed otherwise than in proportion to the existing shareholdings of Nokia's shareholders (directed repurchases) through public trading on the regulated market of Nasdaq Helsinki and selected multilateral trading facilities.

Nokia Corporation now holds a total of 209,702,510 treasury shares.

Name: Gibb, Lorna Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 84285/4/4 Transaction date: 2024-11-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 74 Unit price: 4.27670 Aggregated transactions (1): Volume: 74 Volume weighted average price: 4.27670

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 84273/4/4 Transaction date: 2024-11-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1418 Unit price: 4.27670 Aggregated transactions (1): Volume: 1418 Volume weighted average price: 4.27670

Name: Fisk, Louise Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 84277/4/4 Transaction date: 2024-11-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 117 Unit price: 4.27670 Aggregated transactions (1): Volume: 117 Volume weighted average price: 4.27670

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 84292/4/4 Transaction date: 2024-11-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2645 Unit price: 4.27670 Aggregated transactions (1): Volume: 2645 Volume weighted average price: 4.27670

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 84195/5/4 Transaction date: 2024-11-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3 Unit price: 4.2677 Aggregated transactions (1): Volume: 3 Volume weighted average price: 4.2677

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 84289/4/4 Transaction date: 2024-11-07 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 1686 Unit price: 4.27670 Aggregated transactions (1): Volume: 1686 Volume weighted average price: 4.27670

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Aggregated transactions (1): Volume: 498 Volume weighted average price: N/A

The number of own shares held by Nokia Corporation following the transfer is 177 840 080.

Transaction details (1): Volume:498 Unit price: N/A

The number of own shares held by Nokia Corporation following the transfer is 188 860 209.

Transaction details (1): Volume: 156 Unit price: 4.31633 EUR Aggregated transactions (1): Volume: 156 Volume weighted average price: 4.31633 EUR

Transaction details (1): Volume: 156 Unit price: 4.31633 EUR Aggregated transactions (1): Volume: 156 Volume weighted average price: 4.31633 EUR

The number of own shares held by Nokia Corporation following the transfer is 149 486 937.

The number of own shares held by Nokia Corporation following the transfer is 152 615 554.

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 74167/4/4 Transaction date: 2024-08-08 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2735 Unit price: 3.48520 EUR

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 74164/5/4 Transaction date: 2024-08-08 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 11 Unit price: 3.4562 EUR

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 74170/4/4 Transaction date: 2024-08-08 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2058 Unit price: 3.48520 EUR

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 74175/4/4 Transaction date: 2024-08-08 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3228 Unit price: 3.48520 EUR

Name: Schoeb, Melissa Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 74166/5/4 Transaction date: 2024-08-08 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 532 Unit price: 3.48520 EUR

Name: Gibb, Lorna Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 74172/4/4 Transaction date: 2024-08-08 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 91 Unit price: 3.48520 EUR

Aggregated transactions (1): Volume: 177 Volume weighted average price: 3.42017 EUR

Transaction date: 2024-07-23 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION

Transaction details (1): Volume: 177 Unit price: 3.42017 EUR

Nokia holds a 51% ownership interest in TD Tech Holding Limited (“TD Tech HK”), a Hong Kong based joint venture holding company which Nokia has accounted for as an investment in associates and joint ventures.

on June 27, 2024, Oaktree Optical Holdings, L.P. (“Oaktree”), in its capacity as a stockholder of Infinera, entered into a voting agreement (the “Voting Agreement”) with Nokia. Oaktree represents approximately 11 percent of the voting power of outstanding shares of Company Common Stock. Under the Voting Agreement, Oaktree has agreed to vote its shares of Company Common Stock in favor of the adoption of the Merger Agreement and in favor of certain other matters.

The number of own shares held by Nokia Corporation following the transfer is 103 158 430.

The number of own shares held by Nokia Corporation following the transfer is 95 324 240.

Name: Schoeb, Melissa Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 62599/6/6 Transaction date: 2024-05-10 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 556 Unit price: 3.51269 EUR

Name: Ton, Nu Doan Trang Position: Closely associated person (1):Person Discharging Managerial Responsibilities In Issuer Name: Corker, Ricky Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 62611/4/4 Transaction date: 2024-05-10 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 111 Unit price: 3.51269 EUR

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 62605/8/8 Transaction date: 2024-05-10 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2676 Unit price: 3.51269 EUR

Name: Corker, Ricky Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 62602/4/4 Transaction date: 2024-05-10 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2857 Unit price: 3.51269 EUR

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 62581/5/4 Transaction date: 2024-05-10 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3564 Unit price: 3.51269 EUR

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 62593/10/8 Transaction date: 2024-05-10 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 4219 Unit price: 3.51269 EUR

The number of own shares held by Nokia Corporation following the transfer is 82 077 676.

The number of own shares held by Nokia Corporation following the transfer is 82 234 958.

Name: Sahgal, Raghav Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52559/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 3196 Unit price: 3.25868 EUR Aggregated transactions (1): Volume: 3196 Volume weighted average price: 3.25868 EUR

Name: Guillén, Federico Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52555/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2065 Unit price: 3.25868 EUR Aggregated transactions (1): Volume: 2065 Volume weighted average price: 3.25868 EUR

Name: Schoeb, Melissa Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52568/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 447 Unit price: 3.25868 EUR Aggregated transactions (1): Volume: 447 Volume weighted average price: 3.25868 EUR

Name: Ton, Nu Doan Trang Position: Closely associated person (1):Person Discharging Managerial Responsibilities In Issuer Name: Corker, Ricky Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52582/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 89 Unit price: 3.25868 EUR Aggregated transactions (1): Volume: 89 Volume weighted average price: 3.25868 EUR

Name: Batra, Nishant Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52541/5/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2759 Unit price: 3.25868 EUR Aggregated transactions (1): Volume: 2759 Volume weighted average price: 3.25868 EUR

Name: Martikainen, Piia Susanna Position: Closely associated person (1):Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52544/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 22 Unit price: 3.2506 EUR Aggregated transactions (1): Volume: 22 Volume weighted average price: 3.2506 EUR

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52576/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 9 Unit price: 3.2506 EUR Aggregated transactions (1): Volume: 9 Volume weighted average price: 3.2506 EUR

Name: Corker, Ricky Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 52546/4/4 Transaction date: 2024-02-15 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 2155 Unit price: 3.25868 EUR Aggregated transactions (1): Volume: 2155 Volume weighted average price: 3.25868 EUR

On the date of this notice of the Annual General Meeting the total number of shares in Nokia Corporation is 5 613 496 565, representing the same number of votes.

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to repurchase a maximum of 530 million shares, which corresponds to less than 10 percent of the Company’s total number of shares.

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve to issue in total a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act in one or more issues during the effective period of the authorization.

Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 51061/5/4 Transaction date: 2024-01-30 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 170 Unit price: 3.52382 EUR Aggregated transactions (1): Volume: 170 Volume weighted average price: 3.52382 EUR

Name: Martikainen, Piia Susanna Position: Closely associated person (1):Person Discharging Managerial Responsibilities In Issuer Name: Uitto, Tommi Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATION Reference number: 51053/5/4 Transaction date: 2024-01-30 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION Transaction details (1): Volume: 170 Unit price: 3.52382 EUR Aggregated transactions (1): Volume: 170 Volume weighted average price: 3.52382 EUR

As at December 31, 2023, the estimated aggregate maximum number of shares that would be issued under Nokia’s outstanding equity programs, assuming the unvested performance shares would be delivered at maximum level, represented approximately 2.40 per cent of Nokia's total number of shares (excluding the treasury shares owned by Nokia Group).

The annual dilution impact of Nokia’s outstanding equity programs, if maximum performance was achieved, in addition to the net number of shares that could be issued under the new LTI Plan and the ESPP as a result of awards made in 2024, 2025 and 2026, would not exceed 5 per cent of Nokia’s current total number of shares (excluding the treasury shares owned by Nokia Group).

Participants have immediate shareholder rights over all shares purchased from the market.

The potential maximum aggregate number of Nokia shares that may be issued based on awards granted under the LTI plan in 2024, 2025 and 2026 is 350 million shares.

The maximum number of shares that can be issued under all plan cycles commencing under the ESPP in 2024, 2025 and 2026 is 45 million.