Nokia appoints Ramzi Haidamus to head Nokia Technologies and as member of the Nokia Group Leadership Team

Nokia Corporation

Stock exchange release

July 24, 2014 at 12:35 (CET +1)

Espoo, Finland - Nokia today announced the appointment of Ramzi Haidamus, a technology-licensing expert with proven business leadership skills and a strong innovation background, as President of Nokias technologies business and member of the Group Leadership team, with effect from September 3, 2014.

A trained engineer, Haidamus has spent most of his career with Dolby Laboratories, which he helped to grow from a USD 72 million private business into a nearly USD 1 billion thriving public company. During his 17 years with Dolby, he held a variety of roles, most recently with chief operating officer-level responsibility. He has led innovation efforts, including those related to Dolbys technological roadmaps and standards development for DVD and BluRay. He has experience in nurturing new technologies in an incubator-like environment and in growing new businesses, including as President of Via Licensing Corporation, a Dolby subsidiary.

Ramzi has the perfect blend of technology savvy, business leadership and innovation experience to head our cutting-edge technologies business, said Rajeev Suri, President and Chief Executive Officer of Nokia. With Ramzi at the head of the world-class Nokia Technologies team and our continuing investment in advanced research and development, we are well-positioned to drive the innovation and licensing business needed to move us closer to our goal of technology leadership in a world where everyone and everything is connected.

I am honored to take on this exciting role at Nokia, said Haidamus, incoming President of Nokia Technologies. I relish the opportunity to head Nokias ground-breaking technologies business with its track record of innovation and team of hundreds of world-class scientists and engineers. These experts have driven more than half of Nokias recent patent filings and are leaders in fields that are essential for enabling the connected world.

Born in Lebanon, Haidamus moved at the age of 17 to the US, where he completed his Bachelors and Masters degrees in electrical engineering at the University of the Pacific.

Henry Tirri, who has served as acting head of Nokia Technologies business since its formation on May 1, 2014, will continue in this role until Haidamus joins on September 3, 2014. From that date, Tirri will step down from the Group Leadership Team and will become an advisor to Suri on technology issues.

We are grateful to Henry for all his work for Nokia over the years and for his willingness to lead the Nokia Technologies team during an important time of change and transition, said Suri. Henry has graciously agreed to support Ramzi as he transitions into the company. Henry has unique insights into the world of technology, and I am pleased that we will continue to benefit from his expertise throughout this year and possibly beyond.

A photo of Ramzi Haidamus can be downloaded at: http://nokia.ly/1uhFQTS

FORWARD-LOOKING STATEMENTS

It should be noted that Nokia and its business 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) expectations, plans or benefits related to Nokias strategies; B) expectations, plans or benefits related to future performance of Nokias continuing businesses Nokia Networks, HERE and Nokia Technologies; C) expectations, plans or benefits related to changes in leadership and operational structure; D) expectations regarding market developments, general economic conditions and structural changes; E) expectations and targets regarding performance, including those related to market share, prices, net sales and margins; F) the timing of the deliveries of our products and services; G) expectations and targets regarding our financial performance, cost savings and competitiveness, as well as results of operations; H) expectations and targets regarding collaboration and partnering arrangements; I) the outcome of pending and threatened litigation, arbitration, disputes, regulatory proceedings or investigations by authorities; J) expectations regarding restructurings, investments, uses of proceeds from transactions, acquisitions and divestments and our ability to achieve the financial and operational targets set in connection with any such restructurings, investments, divestments and acquisitions, including any expectations, plans or benefits related to or caused by the transaction announced on September 3, 2013 where Nokia sold substantially all of the Devices & Services business to Microsoft on April 25, 2014 (Sale of the D&S Business); K) statements preceded by or including believe, expect, anticipate, foresee, sees, target, estimate, designed, aim, plans, intends, focus, continue, project, should, will or similar expressions. These statements are based on managements best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors, including risks and uncertainties that could cause these differences include, but are not limited to: 1) our ability to execute our strategies successfully and in a timely manner, and our ability to successfully adjust our operations; 2) our ability to sustain or improve the operational and financial performance of our continuing businesses and correctly identify business opportunities or successfully pursue new business opportunities; 3) our ability to execute Nokia Networks strategy and effectively, profitably and timely adapt its business and operations to the increasingly diverse needs of its customers and technological developments; 4) our ability within our Nokia Networks business to effectively and profitably invest in and ti

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