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Nokia Corporation: Repurchase of own shares on 12.03.2025

1. Nokia acquired 3.4 million shares at an average price of €4.77. 2. The repurchase program aims to counter dilutive effects from Infinera share issuance. 3. Nokia plans to buy back 150 million shares, totaling €900 million. 4. Nokia currently holds approximately 164 million treasury shares after recent transactions.

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Why Bullish?

The share buyback indicates confidence in Nokia’s value, potentially boosting stock price, similar to historical examples where share repurchases reduced market supply and increased stock value.

How important is it?

The share repurchase is a clear signal of management's resolution to enhance shareholder value, which impacts price positively. Regular buybacks often correlate with positive stock performance.

Why Long Term?

The intended duration of the buyback until December 2025 suggests sustained interest in support for share value, reflecting long-term growth strategies.

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INFINERAERICCSCOORCL
Nokia CorporationStock Exchange Release12 March 2025 at 22:30 EET Nokia Corporation: Repurchase of own shares on 12.03.2025 Espoo, Finland – On 12 March 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL1,900,9204.77CEUX1,195,0804.76BATE--AQEU171,8034.76TQEX129,9674.76Total3,397,7704.77 * Rounded to two decimals On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million. Total cost of transactions executed on 12 March 2025 was EUR 16 190 374. After the disclosed transactions, Nokia Corporation holds 163 883 963 treasury shares. Details of transactions are included as an appendix to this announcement. On behalf of Nokia Corporation BofA Securities Europe SA About NokiaAt Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation. With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. Inquiries: Nokia CommunicationsPhone: +358 10 448 4900Email: press.services@nokia.comMaria Vaismaa, Global Head of External Communications Nokia Investor RelationsPhone: +358 931 580 507Email: investor.relations@nokia.com Daily Report 2025-03-12

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