Nokia Corporation Stock Exchange Release April 5, 2016 at 16:15 (CET +1)

Nokia has supplemented its listing prospectus relating to the combination with Alcatel-Lucent

Espoo, Finland - Nokia announced today that it has supplemented its English language listing prospectus dated October 23, 2015 relating to the combination with Alcatel-Lucent (together with the supplements of the listing prospectus dated November 16, 2015, February 2, 2016 and February 12, respectively, the "Listing Prospectus"). The Listing Prospectus will be used for the listing on Nasdaq Helsinki and Euronext Paris of the new Nokia shares to be issued as consideration for Alcatel-Lucent securities in connection with any further share issues relating to the combination of Nokia and Alcatel-Lucent.

On April 5, 2016, the Finnish Financial Supervisory Authority has approved the supplement to the Listing Prospectus (the "Supplement") containing certain updates based on announcements and developments that have taken place after the approval of the Listing Prospectus, such as the filing of Nokia's registration statement on Form 20-F with the U.S. Securities and Exchange Commission, containing, inter alia, updated risk factors relating to Nokia and Nokia's audited financial statements for the year ended December 31, 2015.

The Supplement will be notified by the Finnish Financial Supervisory Authority to the French stock market authority Autorité des Marchés Financiers in accordance with the EU Prospectus Directive.

The Supplement is attached to this stock exchange release and will, together with the Listing Prospectus, be available on Nokia's website at http://company.nokia.com/en/investors/financial-reports/filings-related-to-the-alcatel-lucent-transaction as of April 5, 2016. The Supplement will also be available at the reception of Nasdaq Helsinki at Fabianinkatu 14, FI-00100 Helsinki, Finland, and at the head office of Nokia at Karaportti 3, FI-02610 Espoo, Finland, as of April 6, 2016.