Nokia - Changes in company's own shares

Nokia Board of Directors resolved on a directed share issue to Nokia employees participating in the Employee Share Purchase Plan

Nokia Corporation
Stock exchange release
July 23, 2013 at 9.00 (CET +1)

Espoo, Finland - Nokia announced that Nokia's Board of Directors has resolved
to issue a maximum amount of 183 540 Nokia shares (NOK1V) held by the company
directed to approximately 9200 Nokia employees participating in the Employee
Share Purchase Plan. In accordance with the terms and conditions of the plan,
the shares are issued to fulfill the company's obligation to deliver 20 free
shares for every plan participant making the first three consecutive monthly
share purchases under the plan. The shares are issued without consideration.
The issued shares are held by the company and the total number of shares issued
by the company does not change as a consequence of the issuance. 

The Board of Directors approved the launch of the Employee Share Purchase Plan
as part of the Nokia Equity Program 2013 on January 24, 2013 to encourage
employee share ownership, commitment and engagement. 

The enrolment period of the plan ended on May 9, 2013 and 9177 Nokia employees
from all parts of Nokia that were eligible for the plan, including its
factories, decided to participate. The plan participants who make the first
three consecutive monthly share purchases are each entitled to receive 20 free
shares. The shares will be delivered to the employees in September 2013. 

The resolution is based on the authorization to issue shares granted to the
Board by the Annual General Meeting on May 7, 2013. 

About Nokia
Nokia is a global leader in mobile communications whose products have become an
integral part of the lives of people around the world. Every day, more than 1.3
billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak to one another. Nokia's
technological and design innovations have made its brand one of the most
recognized in the world. For more information, visit
http://www.nokia.com/about-nokia. 

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