Nokia Issues Shares to the Holders of Alcatel-Lucent Securities

Nokia announced today that it has issued 1 455 678 563 new shares ("Shares", each a "Share") in deviation from shareholders' pre-emptive right to subscription based on an authorization by the Extraordinary General Meeting held on December 2, 2015 (the "EGM authorization"). The Shares have been issued in exchange for the Alcatel-Lucent ordinary shares, American Depositary Shares ("ADSs") as well as the 2018 OCEANE, 2019 OCEANE and 2020 OCEANE convertible bonds (Alcatel-Lucent shares, ADSs and convertible bonds together "Alcatel-Lucent Securities") which have been tendered into Nokia's public exchange offers in France and the United States (together the "Offers") in accordance with the terms and conditions of the Offers. As announced by the French stock market authority, Autorité des Marchés Financiers (the "AMF"), on January 5, 2016, 2 052 812 101 Alcatel-Lucent ordinary shares, 264 183 778 Alcatel-Lucent ADSs (representing an equal amount of Alcatel-Lucent shares), 206 784 349 Alcatel-Lucent 2018 OCEANE convertible bonds, 37 880 652 Alcatel-Lucent 2019 OCEANE convertible bonds, and 16 138 206 Alcatel-Lucent 2020 OCEANE convertible bonds were tendered into the Offers.