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Patrik Hammarén appointed as President of Nokia Technologies

1. Patrik Hammarén appointed as President of Nokia Technologies, effective January 22, 2025. 2. Hammarén's role includes managing Nokia’s valuable patent portfolio. 3. He previously held key positions in Nokia’s patent licensing division. 4. Hammarén aims to enhance Nokia's innovation monetization efforts due to recent successes.

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Why Bullish?

Leadership changes often enhance strategic direction, positively impacting investor confidence. Past examples show that strong leadership can lead to improved performance metrics.

How important is it?

This appointment signals a focus on monopolizing and maximizing patent revenues, which could enhance Nokia's profitability and market position.

Why Long Term?

The effects of strong leadership and strategic vision can be realized over time as initiatives take effect. Long-term licensing agreements may contribute positively to revenue growth.

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January 22, 2025 01:00 ET  | Source: Nokia Oyj Nokia Corporation Stock Exchange Release22 January 2025 at 08:00 EET Patrik Hammarén appointed as President of Nokia Technologies Patrik Hammarén appointed as President of Nokia Technologies and member of the Nokia Group Leadership Team Espoo, Finland – Nokia today announced the appointment of Patrik Hammarén as President of Nokia Technologies and member of the Nokia Group Leadership Team, effective 22 January 2025. Nokia Technologies is responsible for managing and monetizing Nokia’s intellectual property, including the company’s industry leading patent portfolio. The business group licenses Nokia’s innovation and contributions to global technology standards to other companies. Hammarén joined Nokia in 2007 and has been acting President of Nokia Technologies since October 2024. Prior to this role, Patrik held several senior positions in Nokia Technologies’ patent licensing business including: Chief Licensing Officer Wireless Technologies; Vice President, Head of IoT Licensing Program; and Head of Patent Licensing Greater China. During this time, he was heavily involved in the renewal of Nokia’s major smartphone license agreements and the growth of Nokia’s IoT licensing program. “I am delighted to announce the appointment of Patrik as President of Nokia Technologies. During a thorough process, Patrik has demonstrated he has the strategic vision, drive, and experience to take Nokia’s patent business forward into the next phase of its growth journey,” said Pekka Lundmark, President and Chief Executive Officer at Nokia. “It is a great honor to be asked to lead Nokia Technologies. Nokia has an industry-leading patent portfolio and a proven track record for monetizing its innovation. I look forward to working with our external partners and our world-class team to maximize these strengths and build upon the successful completion of our smartphone renewals last year and the momentum we have established in our licensing growth areas,” Patrik Hammarén commented. Hammarén will be based in Finland and report to Pekka Lundmark, Nokia’s President and Chief Executive Officer. About Patrik Hammarén Born: 1982 Nationality: Finnish Education: Master's degree in law from Helsinki University 2007Master’s degree in science from Aalto University 2010 Experience: Nokia Acting President of Nokia Technologies October 2024 – January 2025Chief Licensing Officer Wireless Technologies 2024-2024Vice President, Head of IoT Licensing Program 2022-2024Head of Patent Licensing Greater China 2020-2022Director, Patent Licensing 2018 – 2020Manager, Patent Licensing 2014 – 2018Senior Legal Counsel, HERE 2013 – 2014Legal Counsel, Central and East Europe 2012 – 2013Legal Counsel, Central Europe 2011 – 2012Legal Counsel, MeeGo & Open Source 2007 – 2011 Background information on all members of the Nokia Group Leadership Team can be found at: www.nokia.com/en_int/investors/corporate-governance/group-leadership-team. 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. 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:

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