Nokia - Company Announcement

Restatement of previously disclosed information on Nokia's ownership in Alcatel-Lucent

Nokia Corporation
Stock Exchange Release
February 22, 2016 at 21:50 (CET +1)

Restatement of previously disclosed information on Nokia's ownership in Alcatel-
Lucent

Espoo, Finland - Today, Alcatel-Lucent restated the total number of its shares
and voting rights since January 31, 2016. As a result, today Nokia announces a
restatement of its previously disclosed ownership in Alcatel-Lucent. Based on
the restated information, following the settlement-delivery of its reopened
public exchange offer for Alcatel-Lucent securities in France and the United
States, Nokia owned 90.34% of the share capital and 90.25% of the voting rights
of Alcatel-Lucent, corresponding to 87.33% of Alcatel-Lucent's shares on a fully
diluted basis, instead of 91.25% of the share capital and 91.17% of the voting
rights, as announced in Nokia's stock exchange releases on February 10 and
12, 2016, in the subsequent events discussion and related notes to the financial
statements in Nokia's report for Q4 and full year 2015 results published on
February 11, 2016, as well as in the summary, operating and financial review and
prospects, capitalization and indebtedness of Nokia and significant change in
financial condition or operating result sections of Nokia's supplement to its
listing prospectus published on February 12, 2016.

Following the conversion of all the OCEANEs tendered into the initial and
reopened public exchange offer at the applicable improved conversion ratios, on
February 12, 2016, Nokia owned 91.53% of the share capital and 91.45% of the
voting rights of Alcatel-Lucent (instead of 92.34% of the share capital and
92.26% of the voting rights, as reported on February 12, 2016). After the
directed share issue disclosed on February 19, 2016 Nokia will hold
approximately 91.84% of the share capital and 91.77% of the voting rights of
Alcatel-Lucent. This corresponds to approximately 87.91% of Alcatel-Lucent's
shares on a fully diluted basis.

About Nokia
Nokia is a global leader in the technologies that connect people and things.
Powered by the innovation of Bell Labs and Nokia Technologies, the company is at
the forefront of creating and licensing the technologies that are increasingly
at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network,
Nokia is uniquely positioned to help communication service providers,
governments, and large enterprises deliver on the promise of 5G, the Cloud and
the Internet of Things. http://nokia.com

ENQUIRIES

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


Investor Enquiries:
Nokia
Investor Relations
Tel. +358 4080 3 4080
Email: investor.relations@nokia.com

Microsite details
Further information on the transaction can be found at: www.newconnectivity.com

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

IMPORTANT ADDITIONAL INFORMATION
This stock exchange release relates to the public exchange offer by Nokia to
exchange all of the ordinary shares, American Depositary Shares ("ADSs") and
convertible securities issued by Alcatel Lucent for new ordinary shares and ADSs
of Nokia. This stock exchange release is for informational purposes only and
does not constitute an offer to purchase or exchange, or a solicitation of an
offer to sell or exchange, any ordinary shares, ADSs or convertible securities
of Alcatel Lucent, nor is it a substitute for the Registration Statement on Form
F-4 (the "Registration Statement") (Registration No. 333- 206365) or the
Solicitation / Recommendation Statement on Schedule 14D-9 each filed with the
SEC, the listing prospectus and listing prospectus supplements of Nokia filed
with the Finnish Financial Supervisory Authority or Nokia's offer document (note
d'information) and Alcatel Lucent's response document (note en réponse) filed
with the Autorité des marchés financiers ("AMF") on October 29, 2015 and which
received the visa of the AMF on November 12, 2015 (including the letters of
transmittal and related documents and as amended and supplemented from time to
time, the "Exchange Offer Documents"). No offering of securities shall be made
in the United States except by means of a prospectus meeting the requirements of
Section 10 of the U.S. Securities Act of 1933. The exchange offer is being made
only through the Exchange Offer Documents.

The making of the exchange offer to specific persons who are residents in or
nationals or citizens of jurisdictions outside France or the United States or to
custodians, nominees or trustees of such persons (the "Excluded Shareholders")
may be made only in accordance with the laws of the relevant jurisdiction. It is
the responsibility of the Excluded Shareholders wishing to accept an exchange
offer to inform themselves of and ensure compliance with the laws of their
respective jurisdictions in relation to the exchange offer. The exchange offer
will be made only through the Exchange Offer Documents.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE EXCHANGE OFFER DOCUMENTS
AND ALL OTHER RELEVANT DOCUMENTS THAT NOKIA OR ALCATEL LUCENT HAS FILED OR MAY
FILE WITH THE SEC, AMF, NASDAQ HELSINKI OR FINNISH FINANCIAL SUPERVISORY
AUTHORITY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION
THAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION
REGARDING THE EXCHANGE OFFER.

The information contained in this stock exchange release must not be published,
released or distributed, directly or indirectly, in any jurisdiction where the
publication, release or distribution of such information is restricted by laws
or regulations. Therefore, persons in such jurisdictions into which these
materials are published, released or distributed must inform themselves about
and comply with such laws or regulations. Nokia and Alcatel Lucent do not accept
any responsibility for any violation by any person of any such restrictions.

The Exchange Offer Documents and other documents referred to above, if filed or
furnished by Nokia or Alcatel Lucent with the SEC, as applicable, are available
free of charge at the SEC's website (www.sec.gov).
Nokia's offer document (note d'information) and Alcatel Lucent's response
document (note en réponse), which received visa No. 15-573 and No. 15-574
respectively from the AMF, containing detailed information with regard to the
exchange offer, are available on the websites of the AMF (www.amf-france.org),
Nokia (www.nokia.com) and Alcatel Lucent (www.alcatel-lucent.com).


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