Nokia announces share buyback program

Nokia Corporation 
Inside information
3 February 2022 at 08:00 EET

Nokia announces share buyback program

Espoo, Finland – Nokia announces that its Board of Directors is initiating a share buyback program under the current authorization from the Annual General Meeting to repurchase shares, with purchases expected to begin in Q1 2022. The program targets to return up to EUR 600 million of cash to shareholders in tranches over a period of two years, subject to continued authorization from the Annual General Meeting. Nokia will disclose further details separately prior to commencing the purchases.

About Nokia
At Nokia, we create technology that helps the world act together.

As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

Adhering to the highest standards of integrity and security, we help build the capabilities needed for a more productive, sustainable and inclusive world.

Inquiries:

Nokia
Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
Katja Antila, Head of Corporate Communications

Nokia
Investor Relations
Phone: +358 40 803 4080
Email: investor.relations@nokia.com

Forward-looking statements

Nokia and its businesses are exposed to a number of risks and uncertaintieswhichinclude but are not limited to: (i) competitiveintensity, whichisexpected to continue at a high level; (ii) ourability to ensurecompetitiveness of ourproduct roadmaps and coststhroughadditional R&D investments; (iii) ourability to procure certain standard components and the coststhereof, such as semiconductors; (iv) disturbance in the global supplychain; (v) scope and duration of the COVID-19 pandemic, and itseconomic impact; (vi) accelerating inflation; (vii) othermacroeconomic, geopolitical, industry and competitivedevelopments; (viii) timing and value of new and existing patent licensingagreementswith smartphone vendors, automotive companies, consumer electronicscompanies and otherlicensees; (ix) results in brand and technologylicensing; costs to protect and enforce ourintellectualpropertyrights; and the regulatorylandscape for patent licensing; (x) timing of completions and acceptances of certain projects; (xi) ourproduct and regional mix; (xii) uncertainty in forecastingincometaxexpenses and cash outflows, over the long-term, as they are alsosubject to possible changes due to regional profit mix, net sales subject to withholding taxes, the timing of patent licensingcash flow and changes in taxlegislation, includingpotentialtaxreform in the U.S. and OECD initiatives; (xiii) ourability to utilizeour US and Finnishdeferredtax assets and their recognition on our balance sheet; (xiv) ourability to meetoursustainability and other ESG targets, includingourtargetsrelating to greenhousegasemissions;as well as the riskfactorsspecified in our 2020 annual report on Form 20-F published on 4 March 2021 under Operating and financialreview and prospects-Risk factors.
Certain statementshereinthat are not historicalfacts are forward-lookingstatements. Theseforward-lookingstatementsreflectNokia'scurrent expectations and views of future developments and includestatementsregarding: A) expectations, plans, benefits or outlookrelated to ourstrategies, productlaunches, growth management, sustainability and other ESG targets, and operational key performance indicators; B) expectations, plans or benefitsrelated to future performance of our businesses (including the expected impact, timing and duration of COVID-19 on our businesses, oursupplychain and ourcustomers’ businesses) and any future dividends and other distributions of profit; C) expectations and targetsregardingfinancial performance, cash generation, results, the timing of receivables, operating expenses, taxes, currency exchange rates, hedging, investmentfunds, inflation, productcostreductions and competitiveness, as well as results of operationsincludingmarketshare, prices, net sales, income and margins; D) ability to execute, expectations, plans or benefitsrelated to changes in organizational structure and operating model; and E) anystatementspreceded by or including "continue", “believe”, “commit”, “estimate”, “expect”, “aim”, “influence”, "will” or similar expressions. Theseforward-lookingstatements are subject to a number of risks and uncertainties, many of which are beyondour control, whichcould cause ouractualresults to differmateriallyfromsuchstatements. Thesestatements are based on management’s best assumptions and beliefs in light of the information currentlyavailable to them. Theseforward-lookingstatements are onlypredictionsbaseduponourcurrent expectations and views of future events and developments and are subject to risks and uncertaintiesthat are difficult to predictbecausethey relate to events and depend on circumstancesthatwilloccur in the future. Factors, includingrisks and uncertaintiesthatcould cause thesedifferences, includethoserisks and uncertaintiesidentified in the riskfactorsabove.

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