Nokia - Corporate Action

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

Nokia Corporation
Stock Exchange Release
December 2, 2015 at 9:30 (CET +1)

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

Espoo, Finland - A total of 10 502 091 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 25 100 000, 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 3 992 391 044. Each share carries one vote.

The new shares will carry the shareholder rights under Finnish law as of the
date of registration on December 2, 2015. The shares will commence trading in
Nasdaq Helsinki (NOKIA) and on Euronext Paris (NOKIA) together with other Nokia
shares as of December 2, 2015.

Possibility to convert the bonds into Nokia shares ended on November 17, 2015
and this is the final issuance of shares with regard to the conversion of the
bond. On November 26, 2015 the outstanding amount of the convertible bonds, EUR
200 000, was 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


[HUG#1970535]