Nokia’s Board of Directors has resolved to issue 59 500 000 new shares in a directed share issuance without consideration to Nokia Corporation to be later used to fulfil the company’s obligations under its equity plans that vest in 2023 and in 2024.

Nokia expects that the shares are registered with the Finnish Trade Register on or about 5 October 2023 and entered in the book-entry system maintained by Euroclear Finland Ltd on or about 5 October 2023. The total number of Nokia shares following the registration will equal 5 691 797 576. The new shares are expected to commence trading on Nasdaq Helsinki as of 6 October 2023, and on Euronext Paris as of 9 October 2023, together with other Nokia shares (NOKIA). Euronext Paris will publish a separate notice announcing the admission of the new shares to trading on Euronext Paris.

Additionally, the Board of Directors has resolved on a directed issuance of a maximum number of 59 500 000 Nokia shares (NOKIA) held by Nokia Corporation, as a result of the above-mentioned issuance to itself, to settle its commitments under the 2020 Restricted Share plan, the 2020 Performance Share plan, Restricted and Performance Share awards granted under the Nokia Long-Term Incentive Plan 2021–2023 and the 2023 Employee Share Purchase Plan, in respect of shares to be delivered to plan participants during the years 2023 and 2024. The shares are issued without consideration. Each share delivery shall be published separately by a stock exchange release.

Both resolutions to issue shares are based on the authorization granted to the Board of Directors by the Annual General Meeting on 4 April 2023.