Nokia Corporation Managers' transactions August 22, 2018 at 10:30 (CET +1) Nokia Corporation - Managers' transactions

Transaction notification under Article 19 of EU Market Abuse Regulation.

The transaction was done in accordance with the co-investment arrangement relating to Nokia's 2018 Performance Share Plan as announced in connection with the company's interim report for Q1 2018. ____________________________________________ Person subject to the notification requirement Name: Varsellona, Maria Position: Other senior manager Issuer: Nokia Corporation LEI: 549300A0JPRWG1KI7U06

Notification type: INITIAL NOTIFICATION Reference number: 549300A0JPRWG1KI7U06_20180821204906_2 ____________________________________________

Transaction date: 2018-08-20 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000681 Nature of the transaction: ACQUISITION

Transaction details (1): Volume: 66,618 Unit price: 4.6125 EUR

Aggregated transactions (1): Volume: 66,618 Volume weighted average price: 4.6125 EUR

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