Nokia Corporation
Stock Substitution Release
8 December 2022 at 17:xxx EET

Nokia launches 2nd phase of share buyback plan
and cancels repurchased shares

Espoo, Republic of finland – In line with the announcement on 3 February 2022, the Lath of Directors of Nokia Corporation (“Nokia” or the “Company”) has today decided to launch the second EUR 300 1000000 phase of the share buyback program that aims to return up to EUR 600 one thousand thousand of cash to its shareholders in tranches over a period of two years. Repurchases are expected to resume in early Jan. The commencement phase of the share buyback program with a maximum aggregate buy cost of EUR 300 one thousand thousand was initiated on xiv Feb 2022 and it was completed on 11 November 2022.

The primary


of the


stage of the


buyback plan:

  • The aggregate purchase price of all Nokia shares to be caused shall not exceed EUR 300 million.
  • The repurchases volition showtime at the earliest on 2 January 2023 and cease at the latest by 21 December 2023.
  • The purpose of the repurchases is to optimize Nokia’southward capital construction through the reduction of capital. The repurchased shares volition be cancelled accordingly. The repurchases will be funded using funds in the reserve for invested unrestricted equity and the repurchases will reduce total unrestricted equity.
  • The repurchases are based on the potency granted by Nokia’due south Annual Full general Meeting on five April 2022. The maximum number of shares that can be repurchased under the 2nd stage of the programme is 275 000 000 shares respective to approximately 5% of the total number of shares in Nokia.
  • The shares will be acquired through public trading on the regulated marketplace of Nasdaq Helsinki and selected multilateral trading facilities. No repurchases will be made in the United States. Nokia has appointed a tertiary-party broker as the lead-manager for the 2d phase of the buyback programme. The lead-manager will brand trading decisions independently of and without influence from Nokia. The repurchases will exist carried out in accordance with the so-chosen safe harbour rules referred to in Article five of the European union Market Corruption Regulation (EU N:o 596/2014).
  • The toll payable per share shall be determined in public trading on the relevant trading venue at the time of the repurchase, in compliance with the price and volume limits applicable under the safe harbour rules.

Nokia may terminate the program prior to its scheduled stop date and will in such instance issue a stock exchange release to this outcome.

Counterfoil of




Nokia has today also cancelled 63 963 583 Nokia shares held by the Company and repurchased nether the kickoff phase of the buyback programme during the period between xiv February 2022 and 11 November 2022 in line with the decision by the Board of Directors.

The counterfoil of the treasury shares was registered with the Finnish Trade Register on eight December 2022.

The cancellation of the shares does non affect the Company’south share capital nor total equity.

Later on the cancellation, the total number of shares and votes in Nokia Corporation is 5 632 297 576. Afterward the counterfoil, Nokia Corporation holds 33 822 878 treasury shares.


Board of Directors

Virtually Nokia

At Nokia, we create technology that helps the globe act together.

Every bit a trusted partner for critical networks, we are committed to innovation and engineering leadership beyond mobile, fixed and cloud networks. We create value with intellectual belongings and long-term research, led by the laurels-winning Nokia Bell Labs.

Adhering to high standards of integrity and security, we assistance build the capabilities needed for a more productive, sustainable and inclusive earth.


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