Nokia - Corporate Action

Conversion of Nokia Corporation's EUR 750 million convertible bond into Nokia shares

Nokia Corporation
Stock Exchange Release
November 11, 2015 at 9.30 (CET +1)

Conversion of Nokia Corporation's EUR 750 million convertible bond into Nokia
shares

Espoo, Finland - A total of 275 899 571 new Nokia shares have today been
registered with the Trade Register. The shares were subscribed for by using the
conversion right pertaining to Nokia's EUR 750 million convertible bond. The
conversion amount, EUR 659 400 000, is recorded into the fund for invested non-
restricted equity, hence, the share capital of the company will not increase.

The total number of Nokia shares after registration of the shares with the Trade
Register is 3 954 650 462. Each share carries one vote.

The new shares will carry the shareholder rights under Finnish law as of the
date of registration on November 11, 2015. The shares can commence trading in
Nasdaq Helsinki together with other Nokia shares (NOKIA) as of November
11, 2015.

After today's registration the outstanding nominal value of the bonds, EUR
90 400 000, is convertible into maximum of 37 824 267 new Nokia shares. On
October 8, 2015 Nokia sent a redemption notice to the holders of the convertible
bond announcing that all the outstanding bonds will be redeemed and investors
can convert bonds into Nokia shares until close of business in London on
November 17, 2015. On November 26, 2015 all the outstanding bonds will be
redeemed at their principal amount plus accrued but unpaid interest.


About Nokia
By focusing on the human possibilities of technology, Nokia embraces the
connected world to help people thrive. Our three businesses are leaders in their
fields: Nokia Networks provides broadband infrastructure, software and services;
HERE provides mapping, navigation and location intelligence; and Nokia
Technologies provides advanced technology development and licensing.
www.nokia.com

Media Enquiries:
Nokia
Communications
Tel. +358 (0) 10 448 4900
Email: press.services@nokia.com


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