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2016-05-12

NOKIA: Nokia agrees to acquire Alcatel-Lucent convertible bonds through a private transaction

Nokia Corporation

Stock Exchange Release
May 12, 2016 at 20:55 (CET +1)

Nokia agrees to acquire Alcatel-Lucent convertible bonds through a private
transaction

Espoo, Finland - On May 12, 2016 Nokia agreed to acquire 72 994 133 of the EUR
688 425 000.00 Alcatel-Lucent bonds convertible into new Alcatel-Lucent
shares or exchangeable for existing Alcatel-Lucent shares due on January 30,
2019 (the "2019 OCEANEs") and 19 943 533 of the EUR 460 289 979.90
Alcatel-Lucent bonds convertible into new Alcatel-Lucent shares or
exchangeable for existing Alcatel-Lucent shares due on January 30, 2020 (the
"2020 OCEANEs" and, together with the 2019 OCEANEs, the "OCEANEs"). Nokia has
agreed to acquire the OCEANEs through a privately negotiated transaction in
consideration for an aggregate cash payment of EUR 418 949 438.33. The
settlement of the transaction is expected to occur on or around May 16, 2016.

Following this transaction Nokia is expected to own 94.64% of the share
capital and 94.57% of the voting rights of Alcatel-Lucent, corresponding to
94.17% of the Alcatel-Lucent shares on a fully diluted basis.

About Nokia

Nokia is a global leader in the technologies that connect people and things.
Powered by the innovation of Bell Labs and Nokia Technologies, the company is
at the forefront of creating and licensing the technologies that are
increasingly at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network,
Nokia is uniquely positioned to help communication service providers,
governments, and large enterprises deliver on the promise of 5G, the Cloud
and the Internet of Things.http://nokia.com

Media Enquiries:

Nokia
Communications
Tel. +358 (0) 10 448 4900
Email:press.services@nokia.com

Investor Enquiries:

Nokia
Investor Relations
Tel. +358 4080 3 4080
Email:investor.relations@nokia.com

FORWARD-LOOKING STATEMENTS
This stock exchange release contains forward-looking statements that reflect
Nokia's current expectations and views of future events and developments.
Some of these forward-looking statements can be identified by terms and
phrases such as "would", "expected to" and similar expressions. These
forward-looking statements include statements relating to: the settlement of
the trade and Nokia's expected ownership of Alcatel Lucent. These
forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond our control, which could cause actual
results to differ materially from such statements. These forward-looking
statements are based on our beliefs, assumptions and expectations of future
performance, taking into account the information currently available to us.
Risks and uncertainties include: regulatory restrictions, fluctuations in
Alcatel Lucent's share capital and the impact on Nokia of any of the
foregoing risks or forward-looking statements, as well as other risk factors
listed from time to time in Nokia's filings with the U.S. Securities and
Exchange Commission (the "SEC").

The forward-looking statements should be read in conjunction with the other
cautionary statements that are included elsewhere, including the Risk Factors
section of Nokia's most recent annual report on Form 20-F, reports furnished
on Form 6-K, and any other documents that Nokia has filed with the SEC. Any
forward-looking statements made in this stock exchange release are qualified
in their entirety by these cautionary statements, and there can be no
assurance that the actual results or developments anticipated by us will be
realized or, even if substantially realized, that they will have the expected
consequences to, or effects on, us or our business or operations. Except as
required by law, we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NOKIA via Globenewswire

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