NOKIA HAS FILED A PRELIMINARY DRAFT OF ITS REGISTRATION STATEMENT ON FORM F-4 WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION RELATING TO THE PROPOSED PUBLIC EXCHANGE OFFER TO ACQUIRE ALCATEL-LUCENT - Seite 3

The unaudited pro forma condensed combined financial information reflects the application of pro forma adjustments that are preliminary and are based upon available information and certain assumptions, described in the accompanying notes thereto, that management believes are reasonable under the circumstances. Actual results may differ materially from the assumptions within the accompanying selected unaudited pro forma condensed combined financial information. The unaudited pro forma condensed combined financial information has been prepared by management for illustrative purposes only and are not necessarily indicative of the financial position or results of operations that would have been realized had the completion of the Exchange Offer and the proposed sale of Nokia's HERE business occurred as of the dates indicated above, nor is it meant to be indicative of any anticipated financial position or future results of operations that Nokia will experience going forward. In addition, the unaudited pro forma condensed combined income statements do not reflect any expected cost savings, synergies, restructuring actions, non-recurring items or one-time transaction related costs that Nokia expects to incur or generate.

                                       Year ended          Six months
                                December 31, 2014  ended June 30, 2015
                            (in EUR million, except for per share data)

Selected Unaudited Pro Forma Combined Income Statement Data:
Net sales                             24 744               12 441
Operating profit                         886                   425
Profit  from continuing
operations                              2 246                  184
Profit from continuing operations
attributable to equity holders of the
parent - basic                         2 203                  192
Profit from continuing operations
attributable to equity holders of the
parent - diluted                       2 263                  192

Earnings per share from continuing
operations-basic (in EUR)       0.39                  0.03

Earnings per share from continuing
operations-diluted (in EUR)     0.37                  0.03

Weighted average number of shares
-basic (000s shares)       5 707 723            5 640 929

Weighted average number of shares
-diluted (000s shares)     6 143 274            5 657 924

As of June 30, 2015
(in EUR million)

Selected Unaudited Pro Forma Combined Statement of Financial Position Data: