Nokia Board of Directors resolved to issue shares to the company and resolved on a directed share issuance to Nokia employees participating in the Employee Share Purchase Plan 2018

Espoo, Finland - Nokia announced today that it has resolved to issue 4 568 000 new shares in a directed issuance without consideration to Nokia Corporation to be later used to fulfil the company's obligations primarily under the Employee Share Purchase Plan 2018.

Nokia expects to register the shares with the Finnish Trade Register on or about September 3, 2019 and the shares will carry the shareholder rights attached to them as of the registration date. The total number of Nokia shares following the registration will equal 5 640 536 159 and following the issuance the number of shares held by Nokia Corporation will equal 30 320 603. The new shares are expected to commence trading on Nasdaq Helsinki as of September 4, 2019, and on Euronext Paris as of September 5, 2019, together with other Nokia shares (NOKIA). Euronext Paris will publish a notice announcing the admission to trading on Euronext Paris of the new shares.

Additionally, the Board of Directors resolved on a directed issuance of a maximum number of 4 568 000 Nokia shares (NOKIA) held by the company, as a result of the above issuance of new shares, to employees participating in the Employee Share Purchase Plan 2018. The shares under the Employee Share Purchase Plan 2018 are expected to be delivered to the employees on or around September 9, 2019. The shares are issued without consideration.

Both resolutions to issue shares are based on the authorization granted to the Board of Directors by the Annual General Meeting on May 21, 2019.

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