Nokia Oyj — Share Issue/Capital Change 2008

Oct 31, 2008

Disclosure 263652

Nokia - Corporate Action

Exercises with stock options of Nokia Corporation

Nokia Corporation Stock exchange release October 31, 2008 at 9.30 (CET +1) Exercises with stock options of Nokia Corporation Espoo, Finland - Based on Nokia's 2003 employee stock option plan, 3 390 shares of Nokia Corporation were subscribed for between October 1, 2008 and October 27, 2008. The total amount of subscription prices will be recorded in the fund for invested non-restricted equity. The new shares carry full shareholder rights as from the registration date, October 31, 2008. The shares are admitted to public trading on the NASDAQ OMX Helsinki Ltd as of the registration date together with the old Nokia share class (NOK1V). After the registration, the total number of shares is 3 800 942 739, including the shares held by the company. Media Enquiries: Nokia Communications Tel. +358 7180 34900 Email: press.services@nokia.com www.nokia.com