Nokia announces changes in its organization and Group Leadership Team to accelerate the execution of company strategy

Nokia Corporation

Stock Exchange Release

March 17, 2017 at 8.30 EET (CET +1)

Nokia announces changes in its organization and Group Leadership Team to accelerate the execution of company strategy

Espoo, Finland - Nokia today announced changes in its organizational structure and Group Leadership Team (GLT), effective from April 1, 2017.

These changes are designed to accelerate the execution of our strategy, said Nokia President and CEO Rajeev Suri. They will strengthen our ability to deliver strong financial performance, drive growth in services, meet changing customer demands in mobile networks, achieve our cost saving and ongoing transformation goals, and enable strategic innovation across our networks business.

The organizational changes announced today include the separation of Nokias current Mobile Networks business group into two distinct, but closely linked, organizations: one focused on products and solutions, called Mobile Networks, and the other on services, called Global Services. In addition, the companys Chief Innovation and Operating Officer (CIOO) organization will be split, with its current operating activities moved to a newly-appointed Chief Operating Officer (COO) organization, innovation activities to Nokias Chief Technology Officer and incubation to Nokias Chief Strategy Officer.

Leadership changes announced today include the following:

Marc Rouanne, currently Chief Innovation and Operating Officer, will become President of the Mobile Networks business group, responsible for mobile products and solutions, including 4G, 5G, cloud core, small cells and other advanced mobile solutions. Rouanne will remain on the GLT, reporting to Suri.

Igor Leprince, currently Executive Vice President of Global Services, will take the role of President of Global Services, a new business group comprised of the Services organization that currently resides within the existing Mobile Networks business group, including company-wide managed services. Leprince will join the GLT as a new member, reporting to Suri.

Monika Maurer, currently Chief Operating Officer of Fixed Networks, will assume the position of Group COO, responsible for Nokias operating model, Global Operations (manufacturing and supply chain), procurement, implementation of cost saving and ongoing transformation activities, information technology, real estate, and quality. Maurer will join the GLT as a new member, reporting to Suri.

Marcus Weldon, currently President of Nokia Bell Labs and Chief Technology Officer, will retain those responsibilities and join the GLT as a new member, reporting to Suri.

Kathrin Buvac, Chief Strategy Officer, will assume additional responsibilities for incubation of select new business opportunities, and Barry French, Chief Marketing Officer, will assume additional responsibilities for Health, Safety, Security and Environment. They will both remain on the GLT, reporting to Suri.

With the integration of Alcatel-Lucent largely complete, Samih Elhage has decided to leave Nokia to pursue new opportunities. Elhage will continue in his current role and as a member of the GLT until April 1, 2017, and will remain as an advisor to the company through May 31, 2017.

From helping lead the transformation at Nokia Siemens Networks and creating a disciplined operating model that remains a competitive advantage, to being one of the driving forces behind the acquisition of Alcatel-Lucent and its fast and successful integration, Samihs contributions to Nokia have been remarkable, said Suri. He has been a close friend and advisor through times both good and bad, and I fully support his desire for a change.

I am proud of what I was able to accomplish during my time at Nokia and leave confident that the company is extremely well-positioned for the future, said Elhage.

As a result of these changes, all of which are effective from April 1, 2017, the Nokia GLT will consist of the following members: Rajeev Suri, Kristian Pullola, Monika Maurer, Basil Alwan, Bhaskar Gorti, Federico Guill n, Igor Leprince, Marc Rouanne, Ashish Chowdhary, Hans-J rgen Bill, Kathrin Buvac, Barry French, Maria Varsellona and Marcus Weldon.

Additional background on the new members of the GLT can be found at www.nokia.com/en_int/investors/corporate-governance/group-leadership-team

The company will continue to report financial information for Ultra Broadband Networks, IP Networks and Applications and Nokia Technologies. Ultra Broadband Networks will be composed of the Mobile Networks, Global Services and Fixed Networks business groups. IP Networks and Applications will continue to be composed of the IP/Optical Networks and Applications & Analytics business groups.

About Nokia

Nokia is a global leader innovating the technologies at the heart of our connected world. Powered by the research and innovation of Nokia Bell Labs, we serve communications service providers, governments, large enterprises and consumers, with the industrys most complete, end-to-end portfolio of products, services and licensing.

From the enabling infrastructure for 5G and the Internet of Things, to emerging applications in virtual reality and digital health, we are shaping the future of technology to transform the human experience. www.nokia.com

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Forward-Looking Statements

It should be noted that Nokia and its businesses are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements, including, without limitation, those regarding: A) our ability to integrate Alcatel-Lucent into our operations and achieve the targeted business plans and benefits, including targeted synergies in relation to the acquisition of Alcatel-Lucent; B) expectations, plans or benefits related to our strategi

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