<SEC-DOCUMENT>0001104659-25-050859.txt : 20250520
<SEC-HEADER>0001104659-25-050859.hdr.sgml : 20250520
<ACCEPTANCE-DATETIME>20250520120830
ACCESSION NUMBER:		0001104659-25-050859
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250520
FILED AS OF DATE:		20250520
DATE AS OF CHANGE:		20250520

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOKIA CORP
		CENTRAL INDEX KEY:			0000924613
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			H9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13202
		FILM NUMBER:		25967308

	BUSINESS ADDRESS:	
		STREET 1:		KARAKAARI 7
		STREET 2:		P O BOX 226
		CITY:			ESPOO FINLAND
		STATE:			H9
		ZIP:			02610
		BUSINESS PHONE:		358 71 400 2733

	MAIL ADDRESS:	
		STREET 1:		KARAKAARI 7
		STREET 2:		P O BOX 226
		CITY:			ESPOO
		STATE:			H9
		ZIP:			02610
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2515685d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM&nbsp;6-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Report of Foreign Private Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Rule&nbsp;13a-16 or 15d-16 under</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Report on Form&nbsp;6-K dated May&nbsp;20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File No.&nbsp;1-13202)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Nokia Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Karakaari 7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FI-02610 Espoo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Finland</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of the registrant&rsquo;s name into English and address of registrant&rsquo;s principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 48%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 4%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 48%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form&nbsp;20-F</B>:&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;40-F:&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Enclosures:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Batra)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Fisk)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Gibb)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Guill&eacute;n)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Hammar&eacute;n)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Sahgal)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Nokia Corporation - Managers' transactions (Uitto)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%"> 1 (2)</TD></TR>
  </TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Batra)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse
Regulation.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement<BR>
Name: Batra, Nishant<BR>
Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation<BR>
LEI: 549300A0JPRWG1KI7U06<BR>
Notification type: INITIAL NOTIFICATION<BR>
Reference number: 109265/4/4</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19<BR>
Venue: NASDAQ HELSINKI LTD (XHEL)<BR>
Instrument type: SHARE<BR>
ISIN: FI0009000681<BR>
Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details<BR>
(1): Volume: 1401 Unit price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions<BR>
(1): Volume: 1401 Volume weighted average price:
4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2&#8239;(2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications<BR>
Phone: +358 10 448 4900<BR>
Email: press.services@nokia.com<BR>
Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia<BR>
Investor Relations<BR>
Phone: +358 931 580&nbsp;507<BR>
Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%"> 1 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Fisk)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse Regulation.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement<BR>
Name: Fisk, Louise<BR>
Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation<BR>
LEI: 549300A0JPRWG1KI7U06<BR>
Notification type: INITIAL NOTIFICATION<BR>
Reference number: 109268/4/4</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19<BR>
Venue: NASDAQ HELSINKI LTD (XHEL)<BR>
Instrument type: SHARE<BR>
ISIN: FI0009000681<BR>
Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details<BR>
(1): Volume: 234 Unit price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions<BR>
(1): Volume: 234 Volume weighted average price:
4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2&#8239;(2)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications<BR>
Phone: +358 10 448 4900<BR>
Email: press.services@nokia.com<BR>
Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia<BR>
Investor Relations<BR>
Phone: +358 931 580&nbsp;507<BR>
Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  1&#8239;(2)</TD></TR>
</TABLE><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Gibb)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse Regulation.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement<BR>
Name: Gibb, Lorna<BR>
Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation<BR>
LEI: 549300A0JPRWG1KI7U06<BR>
Notification type: INITIAL NOTIFICATION<BR>
Reference number: 109273/4/4</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19<BR>
Venue: NASDAQ HELSINKI LTD (XHEL)<BR>
Instrument type: SHARE<BR>
ISIN: FI0009000681<BR>
Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details<BR>
(1): Volume: 160 Unit price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions<BR>
(1): Volume: 160 Volume weighted average price:
4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2&#8239;(2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications<BR>
Phone: +358 10 448 4900<BR>
Email: press.services@nokia.com<BR>
Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia<BR>
Investor Relations<BR>
Phone: +358 931 580&nbsp;507<BR>
Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<!-- Field: Split-Segment; Name: 1 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%"> 1 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Guill&eacute;n)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse Regulation.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Guill&eacute;n, Federico</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LEI: 549300A0JPRWG1KI7U06</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notification type: INITIAL NOTIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference number: 109276/4/4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Venue: NASDAQ HELSINKI LTD (XHEL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Instrument type: SHARE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ISIN: FI0009000681</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 2385 Unit price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 2385 Volume weighted average price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2 (2)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 10 448 4900</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: press.services@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 931 580&nbsp;507</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%"> 1 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Hammar&eacute;n)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse Regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Hammar&eacute;n, Patrik</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LEI: 549300A0JPRWG1KI7U06</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notification type: INITIAL NOTIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference number: 109127/4/4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Venue: NASDAQ HELSINKI LTD (XHEL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Instrument type: SHARE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ISIN: FI0009000681</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 4 Unit price: 4.5882</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 4 Volume weighted average price: 4.5882</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">www.nokia.com</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 10 448 4900</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: press.services@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 931 580&nbsp;507</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%"> 1 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Sahgal)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse
Regulation.&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Sahgal, Raghav</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LEI: 549300A0JPRWG1KI7U06</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notification type: INITIAL NOTIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference number: 109274/4/4</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Venue: NASDAQ HELSINKI LTD (XHEL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Instrument type: SHARE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ISIN: FI0009000681</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 3814 Unit price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 3814 Volume weighted average price: 4.5979</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">www.nokia.com</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 10 448 4900</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: press.services@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 931 580&nbsp;507</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%"> 1 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Corporation<BR>
Managers&rsquo; transactions<BR>
20 May&nbsp;2025 at 17:00 EEST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nokia Corporation - Managers' transactions (Uitto)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction notification under Article&nbsp;19 of EU Market Abuse Regulation.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Person subject to the notification requirement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Uitto, Tommi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Position: <FONT STYLE="background-color: white">Other senior manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuer: Nokia Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LEI: 549300A0JPRWG1KI7U06</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notification type: INITIAL NOTIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference number: 109123/5/6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction date: 2025-05-19</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Venue: NASDAQ HELSINKI LTD (XHEL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Instrument type: SHARE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ISIN: FI0009000681</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nature of the transaction: <FONT STYLE="background-color: white">ACQUISITION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transaction details</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 5 Unit price: 4.5882</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregated transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1): Volume: 5 Volume weighted average price: 4.5882</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nokia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Nokia, we create technology that helps the world act together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With truly open architectures that seamlessly integrate into any ecosystem,
our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide
trust Nokia to deliver secure, reliable and sustainable networks today &ndash; and work with us to create the digital services and applications
of the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">www.nokia.com</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%"><IMG SRC="tm2515685d1_img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stock exchange release</FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">20&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;2025</FONT></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">  2 (2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inquiries:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 10 448 4900</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: press.services@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maria Vaismaa, Global Head of External Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nokia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: +358 931 580&nbsp;507</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: investor.relations@nokia.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.nokia.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant, Nokia Corporation, has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>Date: May&nbsp;20, 2025</TD><TD COLSPAN="2">Nokia Corporation</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 50%"></TD><TD STYLE="width: 5%">By:</TD><TD STYLE="border-bottom: Black 1pt solid; width: 45%">/s/ Johanna Mandelin</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>Name:</TD><TD> Johanna Mandelin</TD></TR>
                                                <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>Title:</TD><TD> Vice President, Corporate Legal</TD></TR>
                                                </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
