Nokia - 2026 comparable operating margin target and preliminary assumptions for 2024

• Nokia’s business groups will have increased autonomy to pursue growth strategies, portfolio management, investments and strategic partnerships
• Increases reporting transparency and will provide business group level cash flow reporting and regional sales, beginning 2024
• Revises comparable operating margin target to at least 13% by 2026 (previously at least 14%); remains confident in further opportunities to increase margins beyond 2026
• Provides initial planning assumptions by business group for 2024, group guidance will follow with Nokia’s Q4 results on January 25
• Provides further detail on strategy for Mobile Networks to unlock long-term value

Full press release