1) Nokia's Competitive Advantages 2) Business Review for 2008 3) Focus

Home , Blyk, Intellisync, Mobile content, MOSH (Nokia), Navteq, Nokia 5310

Capital Markets Day 2008

Olli-Pekka Kallasvuo President and CEO Agenda

1) Nokia’s competitive advantages

2) Business review for 2008

3) Focus areas for 2009

1 2 Scale: 39% market share YTD Q3 2008 3 Ability to invest in innovation: Services & Software 4 5 Brand: #5 worldwide, #1 in Asia and #1 Europe 6

Manufacturing and logistics: World leading position 7 Distribution: Substantial lead in China, India, and MEA 8 9 Cost & IPR: Significant competitive advantage 10

Source: Interbrand

SUBJECT STATUS Device Portfolio

Smartphones

Services & Software

Nokia Siemens Networks

2008 Events

Winner takes the most Mobile device operating profit share (Q1-Q3 2008)

Others Nokia 39% 61%

Source: Nokia estimates and company reports of Samsung, Motorola, Sony Ericsson, LG, RIM and Apple

Opportunities to capture value from other industries

€33Bn

€27Bn

€8Bn

Portable Music & Still & Video Portable GPS Media Players Digital Cameras Devices

Source: IDC – Estimates for 2008 Sept. 2008 (USD-Euro exchange rate=0.773)

Room for growth penetration in large emerging markets

India

Bangladesh

Sub-Saharan Africa

China

Egypt

Pakistan

Indonesia

Iran

0% 20 40 60 80 100%

Source: Nokia estimates

Live Price Premium segments 500 (EUR) Achieve Explore

200

150 Connect Live 100

50 Nokia 1200 Entry

Essential Business Media / Internet Style Rational Aspirational

SUBJECT STATUS

Device Portfolio

Smartphones WIP

Services & Software

Nokia Siemens Networks

2008 Events

Nokia E71 Nokia E63 Nokia Nokia N96 5800 XpressMusic Nokia N85

SUBJECT STATUS

Device Portfolio

Smartphones WIP Services & Software WIP

Nokia Siemens Networks

2008 Events

Files on Ovi Mail on Ovi

11th Nokia Nokia Maps Nokia Comes Music Store 2.0 with Music

Share on Ovi Nokia Ovi Maps 3.0, Suite Ovi.com sync Maps on Ovi, Nokia N-Gage Messaging

Jan/08 Feb/08 Mar/08 Apr/08 May/08 Jun/08 Jul/08 Aug/08 Sep/08 Oct/08 Nov/08 Dec/08

SUBJECT STATUS

Device Portfolio

Smartphones WIP Services & Software WIP Nokia Siemens Networks

2008 Events

SUBJECT STATUS

Device Portfolio

Smartphones WIP Services & Software WIP

Nokia Siemens Networks 2008 Events

SUBJECT STATUS Device Portfolio Smartphones WIP Services & Software WIP Nokia Siemens Networks 2008 Events

Cost base sized correctly

Growth opportunities

Services & Software

UI and Software Platforms

• Prioritization leads to specific cost reductions in all areas • We will execute our strategy, but at appropriate cost levels

• Services & Software

• Take market share

• Capture value from adjacent industries

• Nokia device enhancements

• NAVTEQ

2009 Focus areas

Simple and intuitive Mail on Ovi for Nokia Nokia Life Tools Series 40 Devices

Device Breadth, Global Reach

Kai Öistämö Executive Vice President, Devices

Hold home field advantage

. Defend in markets where we are strong . Value for money . Highest perceived value . Nokia brand strength . Portfolio is king

. Starts with the consumer . Strategic collaboration with US carriers . Shipments to Korea scheduled to begin in 2009

. User Experience . Innovation . Scale and Cost Efficiency

37 © 2008 Nokia Capital Markets Day 2008 Gain user experience leadership . Across platforms, geographies, price points . One size does NOT fit all . User experience defines form factor . Tailored solutions

. Over 80% of N95 owners access the web . Estimate over 100 million Nseries sold by Q1 2009

. Touch and physical QWERTY . Customizable Homescreen – your favorite contacts & services at a glance . 32 GB of on-board memory + 16 GB card slot = 48 GB of memory . 3.5” widescreen with 640x360 resolution . 5 Mpx camera with Carl Zeiss optics

. Innovation in hardware and software . Symbian Foundation, Trolltech in software . UI puts people first

44 © 2008 Nokia Capital Markets Day 2008 Navigation has reached the mass market 50% of 2009 portfolio with built in GPS All S60 with Maps, first Series 40 with GPS < Navigation coming to entry markets Open map APIs drive new location services

1.07 2.07 3.07 4.07 5.07 6.07 7.07 8.07 9.07 10.07 11.07 12.07 1.08 2.08 3.08 4.08 5.08 6.08 Time

Best Smart Phone for Professionals (PC World Latin America 2008 Awards) Phone of the year (Mobile Choice UK) Smartphone of the Year (Mobilgalan, Sweden) Editor’s choice (CNET Asia) Smartphone of the year (PC World India) Lead in user experience the world over

Focused on innovation

Scale and structure brings cost efficiency

Services & Software

Niklas Savander EVP, Services & Software

Company Confidential 2008

Maps on Ovi Share on Ovi Nokia Messaging N-Gage

35% of visitors from Mobile Devices

Comes With Music, now live in the UK Four major labels and indies on board

70 turn-by-turn navigable countries

Navigation license in 70% of GPS enabled devices in 3Q08

More than 1/3 come back for more

23 games published on N-Gage

Device N-Gage bundles ramping up starting 3Q08

66 © 2008 Nokia Capital Markets Day 2008 67 © 2008 Nokia Capital Markets Day 2008 68 © 2008 Nokia Capital Markets Day 2008 69 © 2008 Nokia Capital Markets Day 2008 70 © 2008 Nokia Capital Markets Day 2008 71 © 2008 Nokia Capital Markets Day 2008 72 © 2008 Nokia Capital Markets Day 2008 73 © 2008 Nokia Capital Markets Day 2008 74 © 2008 Nokia Capital Markets Day 2008 Nokia Music Store for US, South Africa and Brazil

Comes With Music 100% of chart coverage at sales start 13 additional markets on >7 devices across price bands in 2009

N-Gage in Chinese language and with QQ Coin 1Q09 – 15K to 20K retail purchase points in India

Nokia Music Nokia Maps 2.0 Maps on Ovi Nokia Messaging

Comes With Music Nokia Maps 3.0 Share on Ovi N-Gage

Sega.com

2008

Markets Unit Building the brand and bringing Nokia solutions to market

Anssi Vanjoki EVP, Markets, Nokia

80 Outline

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

pop. 896 million 40% 87% 9% 10%

38% Greater 12% Asia-Pacific -1% China pop. 2192 million pop. 1361 million Latin America

pop. 548 million Middle East 48% and Africa 43%

78% pop. 1357 million 55% 8% 33% 13% 44% 19% Mobile penetration % Market volume growth (YoY) %

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

More than 1 billion people use a Nokia device every day

Connecting People in new and better ways

60%

N o k i a Coca-Cola and 40% Loved Brands Microsoft Most McDonald's Samsung 20% Admired Sony

World's BMW Mercedes-BenzMotorola Google

% 0% 20% 40% 60%

Source: Nokia brand Research 2008 Your Most Loved and Admired Brands

C.Europe W.Europe

Eurasia

MENA SSA

SEAP

India China

LTA

Brazil NAM

0% 50% 100%

Outline

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

Key findings from Segmentation3

People are more engaged to the category People are willing to spend more Internet and entertainment are of high interest

Technology Leaders

Modern, leading edge consumers Technology is their life Very positive towards mobile entertainment Highly sociable with an active lifestyle

Technology leaders

Pragmatic Young Leaders Explorers

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

© 2008 Nokia Capital Markets Day 2008 Strong operator support for Nokia’s flagship devices Germany: €150-200 subsidy for Nokia high-end devices Vodafone: Nokia E51, E71, E66, E90, N78, N95, N95 8GB, N85, N96

T-Mobile: Nokia E66, E71, E51, N82, N95 8GB, N96

O2: Nokia E66, E71, N78, N79, N95, N95 8GB, N96

E-Plus: Nokia E71, E66, N85

Nokia Maps

Free device £35 per month

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

Share of marketing spend by product

2007:: 7560 5100 N95 E90 N73 Device based campaigns led to 1240 N81 fragmentation of media spend 3250 E65 N78

5500 E61

N82 6600 3100 8500 7700 3230

Convergence

Music

Navigation

Productivity Time Q1 Q2 Q3 Q4

Navigation theme Convergence Hero device Nokia 6210 Navigator

Music Supporting devices Nokia 6220 Classic Nokia N95 8GB Nokia N85 NavigationNokia E71 Nokia E66

Nokia MapsProductivity Time

Convergence Share of marketing spend per theme 2009:Music: More wood behind fewer Email arrows Convergence NavigationNavigation

Music

Productivity Time

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

Device Ovi services Partner apps Operator Marketing and services customization and retail and services

Nokia Music Store + Nokia Music Devices

Orange N96 • Customized user interface • Services integration • Orange Downloads • Orange Traffic TV • Orange Email and more…

BBC iPlayer • BBC programs from the past week. • BBC iPlayer supports on-demand TV & Radio - Streaming and DRM Download over Wi-Fi, plus Streaming on select 3G networks

Nokia Video Center • Program feeds for BBC, SKY and ITV

Very sustainable competitive advantage • Superior geographical coverage and relationships with main actors • Critical mass of skillful solutions selling resources • Very strong Go-To-Market process • Seamless synchronization of GTM process and Demand-Supply network process

Global view Brand Consumer Operator cooperation Marketing efficiency Go-To-Market Summary

Consumer insight Experience brand Theme based marketing Go-To-Market

118 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Progress update Industry Our Our and direction targets market and trends assets

119 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 120 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Financial performance – the first six quarters

Net sales and gross margin Operating profit and operating margin (non-IFRS) (non-IFRS) Net sales Operating profit EUR millions Gross margin % EUR millions Operating margin % 450 8 6.7% 9000 45% 400 7

8000 40% 350 6 5.1% 300 5 7000 35% 4.3% 30.4% 30.4% 31.5% 29.2% 250 4 6000 30% 31.2% 3.0% 274 28.9% 200 3 5000 25% 150 199 2.4% 2 4000 20% 4604 4071 100 1 3000 15% 50 110 81 177 0 2000 10% 3438 3703 3404 3504 0 -1 -1.9% 1000 5% -50 -2 -64 0 0% -100 -3 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08

121 © Nokia Siemens Networks Source: Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Industry-leading OPEX efficiency OPEX* 2008 first three quarters OPEX* as % of net sales 2008, first three quarters OPEX OPEX EUR millions % of net sales 5000 50

4000 40

3000 30 33%

29% 26% 2000 20

1000 10

0 0 Nokia Competitor Competitor Nokia Competitor Competitor Siemens A** B** Siemens A** B** Networks Networks * Non-IFRS figures for Nokia Siemens Networks, excluding special items for Estimated carrier business Competitor A and B related OPEX **Competitor A and B figures are group level 122 © Nokia Siemens Networks Source: Company reports, Nokia Siemens Networks estimates

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Scale and installed base

Content and end-user Service management applications and charging

Subscriber Charging data mgmt #1 #1

Core Network & service Connectivity #2 mgmt #2 Transport #3 Consulting, Integration Implementation Wireline Wireless Care access #3 access #2 Managed Services #2

123 © Nokia Siemens Networks Source: Company reports, Nokia Siemens Networks estimates

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Industry Progress and market Our Our update trends direction targets and assets

124 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Telecom infrastructure market - last 10 years

EUR billions 200 Wireline sales incl. related services Wireless sales incl. related services

100

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008E

125 © Nokia Siemens Networks Source: Company reports, Nokia Siemens Networks estimates

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Telecom infrastructure market outlook 2009: decline of 5% or more Total vendor sales of infrastructure products and related services

EUR billions

120 100 80 60 40 20 0 2006 2007 2008E 2009E Wireless infra Wireline infra Services (wireline and wireless)

127 © Nokia Siemens Networks Source: Company reports, Nokia Siemens Networks estimates

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Downturn brings challenge and opportunity

Content and end-user Service management applications and charging

• Increased partnering with Internet players and content providers • Split of major IT projects into • Operators’ development focus in multiple focused ones communication • Interest in process simplification and automation solutions Connectivity • Largest spend • Upgrades with clear payback to continue • Interest in operational efficiency solutions • Increased interest in outsourcing

126 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Our Progress Industry direction Our update and and assets targets market trends

128 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Continue to work on basics

Effective and efficient operations Tight focus on profitability and cash flow Leverage global resources Culture and values Business ethics and social responsibility

129 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Focus on cost reduction Track record of delivery Levers for ongoing cost reduction

Annual cost synergy estimate • Scale by function • Asset reuse ~ € 0.1 Bn • Design to cost ~ € 0.2 Bn • Global resource balancing • Supply chain optimization • Supplier and subcontractor ~ € 1.1 Bn consolidation ~ € 0.6 Bn • IT and process development • Real estate consolidation

CoGS G&A R&D S&M

130 © Nokia Siemens Networks Source: Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Build for leadership in enriched customer experience and network efficiency Content and end-user Service management applications and charging

Enriched customer experience Connectivity Network efficiency

131 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Strong assets drive differentiation

Content and end-user Service management applications and charging Enriched customer experience

SDM Charging

Connectivity Service Core Mgmt Network efficiency OSS

Multi- DWDM, Global radio and backhaul Service LTE Delivery

132 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Our targets Progress Industry Our update and direction market and trends assets

133 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Nokia Siemens Networks targets

Maintain share in declining market Complete integration Continue to expand margins Improve operating cash flow

134 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Thank you

135 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Capital Markets Day 2008

Rick Simonson Chief Financial Officer

. Myth vs. Reality

. Actions

. Balance sheet and cash flow

. Financial targets

Units by Geography Net Sales by Geography Gross Profit by Geography

Asia-Pacific Middle East & Africa Greater China Latin America

Europe 5 Rest of Europe North America

Source: Nokia Q1-Q3 2008 Europe 5 = UK, Germany, France, Spain and Italy

Geographical split of Nokia smartphone units Q1-Q3 2008

Asia-Pacific Middle East & Africa Greater China Latin America Europe 5 Rest of Europe North America

Nokia 15% 18% 17% 49% volume

Total market 31% 17% 17% 36% volume

High subsidy markets – e.g. USA, UK

Medium subsidy markets – e.g. Spain

Low subsidy markets – e.g. Portugal, China

No subsidy markets – e.g. MEA, India Source: Nokia estimates, 2008

Low subsidy markets: limited high-end subsidies or small low-end subsidies Medium subsidy markets: significant subsidy in high-end, but typically not free with contract; limited or no pre-paid subsidies High subsidy markets: high-end device typically free with contract; subsidies also in prepaid devices

250 Oil Rice 200

150

Index 100

0 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08

Source: Bloomberg

2008E Device Market Value by Price Band

22%

36%

41%

Low End: EUR 0-75 Mid Range: EUR 75-200 Higher End: EUR 200+

• Scale: 39% market share YTD Q3 2008; same as next 4 players

• Ability to invest in innovation: Services & Software

• Brand: #5 worldwide, #1 in Asia and #1 Europe

• Manufacturing and logistics: World leading position

• Distribution: Substantial lead in China, India, and MEA

• Cost & IPR: Significant competitive advantage

Sources: Nokia estimates; Interbrand; BrandZ; AMR Research; Fairfield Resources International

Ongoing through 2009 and 2010

1) Cost of Goods Sold

2) Operating Expenses

3) Capital Expenditures

Percent of operating profit

80% NOKIA

LGE 60% Samsung

40% Sony Ericsson

Motorola 20% RIM 0%

-20% Q3’06 Q4’06 Q1’07 Q2’07 Q3’07 Q4’07 Q1’08 Q2’08 Q3’08

Source: Nokia, company reports

COGS Breakdown: >90% Variable Drivers of COGS Advantages

Overhead Labor • Component purchasing

• IPR

>90% Variable Cost • Warranty costs • Components • Warrantee • Inventory carry costs • Royalty • Freight • Customs • Design for manufacturing

• In-house manufacturing

Source: Nokia

Low end tear-down study Mid range chipset cost study

Nokia solution 30 – 70% lower cost Nokia solution avg. 20% lower cost

Nokia ZTE/ Nokia Samsung Nokia Samsung Nokia Competitor Competitor 1200 Vodafone 1661 B100 1209 SGH-CC03 125 A B

Cost comparison: Relative device+battery materials cost of product pairs

Sources: Portelligent, iSuppli and Nokia estimates Source: Nokia estimates

External developments Internal actions

250 Oil Copper • Use Nokia’s buying 200 power to negotiate with

150 suppliers for the best

Index prices 100

50 • Low cost design focus

0 Example – super low Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 end Bill of Materials • Commodity prices down 60% from highs down 10% with each new generation • Excess production capacity in supply chain

Source: Bloomberg

Devices & Services: OPEX cost reduction

Taking action to adjust to the new reality

• “Plans” not “Budgets”

• Announced 4th November: 700+ employees impacted

• Announced 27th November: Partial exit from Japanese market

• Targeted actions:

• R&D

• Sales & Marketing

• General & Administrative • Communicate urgency throughout the organization: immediate travel restrictions, hiring freeze, curtail consultants

Good starting point: not a CAPEX-intensive business

• Targeted actions:

• Estimated CAPEX investment in 2009:

• ~700 million euros (estimated ~850 million euros in 2008)

• Consolidate production lines

• Reduce the pacing of incremental CAPEX

• Test equipment

• Building improvements

• IT equipment

~ € 0.1 Bn • Asset reuse

~ € 0.2 Bn • Design to cost • Global resource balancing

• Supply chain optimization ~ € 1.1 Bn ~ € 0.6 Bn • Supplier and subcontractor consolidation

• IT and process development

CoGS G&A • Real estate consolidation R&D S&M

Clean, simple, strong

Q3’08 (EUR)

Cash and other liquid assets 7.2B

Debt 4.3B

Net cash 2.9B

Financial targets

2009 Mobile device market: Down 5% or more

• Global slowdown in consumer spending

• Currency devaluation

• Credit tightness

• Channel destocking

Do better relative to competitors, and minimize volatility

• Nokia Devices & Services operating margin in the teens*

• NAVTEQ operating margin somewhat above the Devices & Services operating margin*

• Nokia Siemens Networks operating margin in the single digits*

* Non-IFRS

• Reality – strong competitive position

• We are taking action

• Our capital structure is solid

• Our view of the market is realistic

2008E 2009E Tax Rate* 26% 26% Capex (m EUR) ~ 850 ~ 700 Depr. and Amort. (m EUR)* ~ 900 ~ 900 Financial Income and Expense (m EUR) ~ -40 ~ -110 Common Group Functions* ~ 210 ~ 175 (m EUR expense)

* Non-IFRS

Søren Petersen SVP, Nokia Devices High-End

Mid- Range

Low-End

Technology Leaders

Pragmatic Style Leaders Leaders

Family Providers

Young Explorers

Live

Connect

Live Premium 500

Achieve Explore

200 Price segments (EUR)

150 Connect Live

100

50 Entry

Essential Business Media / Internet Style Rational Aspirational

High-End 500

200 Price segments (EUR) Mid- Range 150

100 Low-End High-End

50 Mid- Range Low-End Developed World Entry Business

through Series 40 great platforms Emerging Market volume demand

Series 30

2004 2008

Nokia 1200/1208

Sold 135.000.000

over through

units great devices

Nokia 5130 XpressMusic through great solutions

Partnering IPR

R&D

HW UI Platforms

Sales

Supply Chain

Global Scale

178 © 2008 Nokia Capital Markets Day 2008 179 © 2008 Nokia Capital Markets Day 2008 Thank you. Demand Supply Network Management Juha Putkiranta Senior Vice President, Demand Supply Network Management Scale advantage

Device Volumes Nokia (M) Samsung 140 Motorola Sony Ericsson 120 LGE 100

2001 2002 2003 2004 2005 2006 2007 2008 * *Sources: Company reports up to 3Q 2008

250 Sales Package Variants

170 Handset Variants

Nokia N96

Engine Operations Supply Operations Suppliers

Manufacture to order

150 suppliers for 120 billion components 15 devices each second 24/7 200 devices in average customer order

184 © 2008 Nokia Capital Markets Day 2008 Advantages in rapidly changing markets Flexible inventory management: Flexible Manufacturing • 75% of inventory held by suppliers immediately prior to assembly Manufacturing Flexibility: • ~20% of manufacturing done by sub-suppliers – adds flexibility • Booming Market = We managed for upside better

than others -120% -80% -40% 0% +40% +80% +120% • Contracting Market Product Sales Volume vs Plan • We are already biased for downside • Our organization has experience • Less important = capacity/supply constraints • More important = managing costs

Pull driven Global reach

Innovation Ecosystem

High Order to delivery

Low Days of supply 1996 2008

Ensuring efficiency and flexibility while creating customer value

Variation Management … and extending the Global Manufacturing lead further Scale and Efficiency

Jean-Francois Baril Senior Vice President Sourcing Connecting the Inside with the Outside

Customer Satisfaction

Supplier Operational Network Great Excellence Products

40%  Supplier portfolio 20% 0%

-20% Q3'06 Q4'06 Q1'07 Q2'07 Q307 Q4'07 Q1'08 Q2'08 Q3'08 Collaboration  NOKIA Motorola Samsung LGE Sony Ericsson RIM Source: Nokia, company reports

R&D and supplier Operational flexibility collaboration

Terminal Vendor Shipments (M) Nokia 6300 150

125 €

-120% -80% -40% 0% +40% +80% +120% 100 Product Sales Volume vs Plan

75 Gross margin % 50 Retail price in in price Retail 25

Lowest Total Cost Investment Capability

Leadership Nokia and values #1 customer Product Performance Time to Market

Software & Content

Hardware

Shares by commodity # of Suppliers

Sharp peak of innovative companies for Weight on a picking new technologies few large suppliers No long tail of legacy suppliers

Human and business leadership

Supplier Nokia • Capabilities • Technology • Scale planning • Product • Innovation Passion and Trust • Logistics Co-creation Transparency Rewards

2/5 Collaboration 2/5 Supplier portfolio 1/5 Robust processes

..and “a pinch” of leadership

Company Confidential 198 © 2008 Nokia Capital Markets Day 2008 Responsible supplier management • Supplier requirements for Ethics, Labour, Health & Safety and Environment since the 1990s • > 50 on-site supplier assessments annually with active development programs • Environmental improvement targets for key suppliers • #1 Dow Jones Sustainability Index - Communication Technology category (2008) • #1 in Greenpeace Electronics Ranking (Nov 2008) • Active participation at industry level (e.g GeSI) Company Confidential 199 © 2008 Nokia Capital Markets Day 2008 Thank you. Nokia Smartphone Software

David Rivas Vice President, S60 SW Technology Management Four Pillars of Nokia Smartphone Execution Internal and External Global Software Innovation Presence

Consumer Integrated Insight Experiences

Millions

Source: Canalys estimates, Worldwide smart mobile devices, November 2008 Content and Services Anywhere, Anytime – Today GPS 3G Touch Battery UI optimized

Multitasking Tactile feedback

Sensors Bluetooth WLAN Stream Chat Social live networking Blog Internet media video

Share Connect content your home

Send group Share messages media Watch TV Software Enables Innovation Intention Execution Action

Reduce costs and • Defragment investment base Acquisition of shift focus to value • Reduce costs associated with Symbian add in software development current assets

• Improve software offerings Web runtime Focus on differentiating • Extend Software business reach consumer experiences Trolltech acquisition • Cross platform programs & Qt

• Make mobile software open Bring external Symbian Foundation • Inspire open source community innovation to play • Create a new category of services Nokia SW Strategy Impacting the Whole Industry Open Source with Symbian Foundation Short term objectives Long term objectives

Improve operational set-up Desirable industry standard platform used by everyone Further increase foundation platform attractiveness for handset Positive impact on speed, quality vendors and innovation Create one common platform with Wide, engaged and successful a unified UI ecosystem of industry players We have 50+ announced supporters, including the 10 Founding members. • 8 Device manufacturers • 7 Semiconductor vendors • 9 Network operators • 27 Services & SW companies

Hundereds of organizations have registered their interest via the website: www.symbianfoundation.org

Multiple UI Styles and Capabilities UI Portfolio spans broadest range of consumers and needs

S60 S60 Touch Maemo Non-Touch Touch Best in class touch solution enables large volumes and growth

Direct UI simplifies interaction with standard strokes and gestures Smart Widgets Context and Presence

Integrated Multiple Homescreens Services Thank You Context is here, there, now, then and in the future…

Ilkka Raiskinen SVP, Context and Advertising Solutions People want relevance

100% • The introduction of Nokia Maps in 91% 2007 has pushed maps usage to 91% 80% • 47% of panelists used map applications actively in 2008 60% • In 2008, Maps is the key service 47% of S60 devices 40% • Music and browser usage grew 24% similarly 2 years ago Proportion of Panelists % 20% 17% 9% 10% 9% 0% 4% 2005 2006 2007 2008

Tried Twice a week

Source: Live UK panels 2005-2008 (all together 1 189 device owners)

Navigation…it’s not all about cars

People

People who matter to me Places

A world full of interesting places Time

People organize around time and Examples show different place activities of/with different people at different times/places

Nokia Maps 3.0 competitive landscape

Nokia Maps 3.0 Google Maps for mobile*

Map data coverage 200+ countries 100+ countries

Pre-loading of maps no, download only via online connection yes, via Nokia Map Loader via PC / Mac on mobile

Map views 2D, 3D, Satellite, Hybrid, Terrain only 2D and Hybrid

Multi point route planner yes no Walking directions yes no

Real time turn-by-turn yes, Walk, in 70 countries no pedestrian navigation (premium service, not free) Real time turn-by-turn yes, Drive, in 70 countries voice guided car no (premium service, not free) navigation Share POI's, or any place Yes, Send via SMS, MMS, Bluetooth, Infra red no from map *compared with version 2.2.0.13 for Nokia S60 3rd ed.

• The initial cost associated with building our location based services were heavy on the front end with acquisitions – gate5, NAVTEQ, Plazes

• Now that the system is in place, we need to build awareness and increase the user base. • Content – Add in Third-Party Content (Lonely Planet, Via Michelin, and Wcities) and more… • Marketing – Work closely with Device and Theme based Marketing to raise awareness. • Adding platforms. – Series 40 devices loaded with Nokia Maps started shipping this year – LG-KT610 is shipping with Ovi Maps…

• The target group got a free Nokia Navigation Licence (30 days) • The short-term contribution was high: 312% increase in the number of users

Source: Live 5 UK panel (2008) with 489 device owners

Find out who’s in town Get directions on how to walk there, share place

Are they free? Interested? Reserve a table

What Japanese See menus, restaurants are in prices and walking distance? availability

Ratings and reviews

Friend Find out Finder/Maps on who’s in town Ovi/Nokia Maps Maps on Ovi/Nokia Get directions on Maps/Convert friendshow to walk there, to use service share place

Are they free? Messaging Phone Interested? (several options) Reserve a call/Reservation table tool/Message

What Japanese Search & Maps See menus, restaurants are in Maps on on Ovi prices and walking distance? Ovi/Browser availability

Ratings and Maps on reviews Ovi/Nokia Maps

Tom Furlong SVP, S&S Consumer Messaging

237 Messaging Markets and Initiatives

Direct access enterprise clients Enterprise • Mail for Exchange • Lotus Traveler

Consumer IM and push email service Consumer • Nokia Messaging

Nokia provided email accounts Emerging • Mail on Ovi ( [email protected] )

• Strong Nokia device portfolio, led by Nokia Eseries range • Both Nokia and partner developed applications connecting directly to partners’ enterprise infrastructure

• Mail for Exchange client offers freedom to mobilize email, calendar and contacts

• Mail for Exchange now runs on 80 million Nokia devices (43 models)

• Lotus Notes PIM access client available this year for Domino access

• Customers can choose the Nokia phone they love (e.g. Nseries, music phone) and still set it up for mobile email

• Largest enterprise access range of Exchange devices from any manufacturer Domino

Users (M)

Euro (M)

• Addressable market of circa 500 Million • Combined Operator Revenues of almost €5 combined users accounts for Mobile Email Billion by 2011 for Mobile Email and IM** and IM by 2011* • Ad funded models planned to deliver lowest cost consumer messaging *Sources: Nokia and external analyst estimates Email & IM excludes Japan & Korea ** Sources: Nokia and external analyst estimates Revenues are inclusive of net consumer spend including data fees incurred

• Leading provider of white label mobile email and IM services. • Supplier to AT&T, T-mobile, Sprint, Verizon and nearly all NA operators November 4, 2008 • S40 email and consumer IM service Nokia acquires OZ Communications • 5.5M active users

• Advanced email solutions for prosumers • Nokia hosted solution February 10, 2006 • Push email for S60 Nokia acquires Intellisync

A new Nokia service for mobile email and IM pre-loaded on Nokia Series 40 & S60 devices

Your favorite devices now come with your favorite messaging services!

Easy to set up Easy to use Easy to afford

Email address and password Next generation email client Designed to be bundled with are all that is needed data plans

Internet Nokia Mobile Portals: Messaging Operators:

Accounts Email & IM Service: Stay Tuned … Launching in 8 Push Services Push countries: Q109 30+ in 2009 Beta here now! Service Data Mobile

Partnerships Reach Availability

Device Breadth, Global Reach

Global reach to establish messaging for the masses •From smartphones to feature phones for the broadest appeal •Preinstalled connection to the Nokia hosted service for a consistent Nokia experience

• A free service for consumers of all Nokia phones • An integrated Ovi.com experience • Live on select S40 devices now; Web access in Q1‘09

• 25% of the world has email accounts. Mail on Ovi is for the 75% without

• First time internet users will be able to create and access a persistent internet identity, without a PC

• OZ technology mobilizes email yet requires just 1% of a typical push email data service – providing the platform for truly affordable mail services

Leading Enterprise Solutions

• Enterprise connectivity on mainstream devices

Compelling Mobile Messaging

• All your favorite internet messaging services in your pocket

Easy Ovi Identity

• Bringing email to the emerging market

NOKIA CMD 2008 December 4, 2008 Breakout Session Music and Gaming

Tero Ojanperä, EVP, Entertainment & Communities Liz Schimel, VP, Global Head of Music Jaakko Kaidesoja, VP, Games

Overall Highlights

• Entertainment is a key focus area for Services & Software

• 2008: a very productive year o Roll out of Nokia Music Stores across 3 continents . Locally relevant content, not just international hits o Launch of Comes With Music in the UK . Innovative business model to labels and compelling value proposition to consumers o Launch of new N-Gage service, new device support and dozens of games . Innovation – Reset Generation (cross-platform) and Dance Fabulous (cross- service) o Pre-installed content – revenue opportunity . N96 and Transformers/Batman . N85 and games

• Coming soon o Announced in August that we are streamlining various services such as MOSH, WidSets and Download! into a single service o This will provide an easy way for consumers to get mobile media for their device o Core part of our People and Places strategy

Music

• Offering a total music experience – on PC, on devices and services

• Nokia Music for PC o Easiest way to get music onto your Nokia and manage your music collection o Rip CDs DIRECTLY to your mobile – no other software enables that o Easy transfer by dragging and dropping albums or songs onto the picture of your device o Transfer playlists from your device to your computer – also unique o In markets that have a Nokia Music Store, access the store directly from the Store tab

NOKIA CMD 2008 December 4, 2008 Breakout Session Music and Gaming

• Aggressive Nokia Music Store roll out o 12 markets in 13 months across 3 continents o Continue roll out during 2009 including the US and our first stores in Africa (South Africa) and South America (Brazil) o Focus on locally relevant content, not just international hits

• Interesting trends from Nokia Music Store highlighting value of mobility o About 35% of visitors to our music stores are via mobile o About a third of downloads are happening over the air, either via 3G or wifi

• Comes With Music o Very simple proposition – buy a Nokia Comes With Music device and get a year’s worth of unlimited access to the Nokia Music Store. Keep all of the music you download o Strong support from the industry – all major labels on board as well as indies and music publishers . Offer 100 percent chart coverage in the UK at sales start o Nokia 5310 XpressMusic and Nokia N95 8GB now on sale – compelling price points (GBP 129.99 and free on a GBP35/month contract) . 18-month contract option to support operators (e.g. 3UK) o Expanding device support with additional devices in 2009 – major focus on Nokia 5800 XpressMusic o Roll out in 2009 across markets with existing Nokia Music Store o Nokia makes money both from traditional device margins, as well as margins on the Comes With Music service . Positive business for all players – Nokia, labels, rightsholders

Games

• N-Gage higlights o Live in April and regularly introducing more and more N-Gage-compatible devices to the market (already Nokia N79, N81, N82, N85, N95, N96, Nokia 5320 XpressMusic) o Pre-loaded games. For example, Nokia N85 comes with at least 10 games in box o Co-operation with Vodafone with Nokia N85 bundled with a customized version of the N-Gage application with the Star Wars: The Force Unleashed game embedded as well as exclusive mobile content o Co-operation with Rogers (Canada) around N-Gage

• Trends from the first six months: o Sales transactions in over 130 countries o Repeat purchase rate is over 35% globally o Operator billing is dominant with over 80% of people using it in countries where available

NOKIA CMD 2008 December 4, 2008 Breakout Session Music and Gaming

• Other milestones o Chinese language N-Gage application and the ability to pay with QQCoin (the leading virtual currency in China) later this year o 1Q 2009 – 15 to 20k retail purchase points in India and well as operator billing in Latin America and a localized service and operator billing in Russia

• New titles on a regular basis with a mix of genres o Play and compete with others: ONE and Dirk Dagger o Interact and communicate with others: Reset Generation and Yamake o Casual gamers: Bounce and Hooked On: Creatures of the Deep o Big brands: EA Sports, Gameloft, etc.

• Game innovation o Cross-platform games - web-to-web, web-to-PC/console and web-to-mobile . Reset Generation available to play for free on PC (Windows/Mac/Linux) as an embedded web widget and as downloadable content with all N-Gage compatible devices. o Games across Nokia service offerings . Dance Fabulous dance and music game. Create unique choreographies to the music stored on your device, including a link to the Nokia Music Store . Expect to see more integration of services in N-Gage games – for example using Nokia Maps and GPS

• N-Gage Arena o the place where the N-Gage community goes to meet friends and find others to play with o Online multiplayer gaming is at the core of the N-Gage experience o All titles support a common minimum community feature set, but more multiplayer games and more community features coming o Nokia has the leading, tried and tested solution for creating the best online multiplayer mobile games

Summary

• Music and Gaming focus for 2009 o Rolling out NMS/CWM in key markets o Expanding N-Gage portfolio in terms of games and devices

• Nokia strengths o Tight integration between experience and device o Innovative business models that bring value to all o Device volumes Nokia Research Sharpening Innovation to Build the Future

Dr. Henry Tirri, PhD SVP & Head of Nokia Research Four Research Focus Areas for NRC In Order to Bridge the Now to the Next

Rich Context Modeling Meet the needs of individuals on their terms.

New User Interface Interact joyfully and intuitively through technology. Rich Context Modeling New User Interface Cognitive Radio Liberate spectrum to expand markets and enable large-scale sensing.

High Performance Mobile Platforms Superior mobile platform Cognitive Radio High Performance improving performance and Mobile Platforms power ratio.

• Three years of actively exploring open innovation • Selective deep collaborations with world-leading institutions • China – Beijing • Finland – Helsinki & Tampere • Switzerland – Lausanne • UK – Cambridge • USA – Cambridge, MA & Palo Alto, CA • The industry compels a “Demo or Die” philosophy • Building global test beds to learn from larger and wider audiences

Today… Incoming… • GPS • Near Field Communication • Cameras • Indoor positioning • Accelerometers • Environmental analysis • Light sensors • Bluetooth • Microphones • Wi-Fi • Cell triangulation

Dynamic tiles Filmstrip views of data Content streams

• Tracking of influenza outbreaks through personal health monitoring in populations • Real-time weather monitoring across 100’s of millions of users • Citizen journalism during major events, such as when earthquakes strike • Up to the second crowd flows in busy locations like stadiums

• Result of an invitation from MoMA • Product of nanoscience work between NRC and Univ. of Cambridge, UK • A highly personal device based upon sensors, services, customizability – All real work going on in our labs • Captured the imagination of millions – Millions of views on YouTube • Demonstrated the public hunger for daring visions

Nokia in North America

Mark Louison President Nokia Inc. Discussion Points

• North American Market Context • Update on Nokia’s NAM Focus Areas – Expand Portfolio – Invest in Key Technologies – Deliver Compelling Solutions – Create a Winning Workforce – Building a Leading Brand in NAM • Summary • Q&A

• Q3 08 Population (338 million) is 85% penetrated • Q1-Q3 2008 YOY industry unit growth: approx 9% through Q3 – Take market share by offering customized portfolio by operator – Continue to expand CDMA portfolio – Targeted growth tactics: – Realize mobile Internet vision – Growth in converged/qwerty messaging devices – Capture large share of prepaid/entry – Position Nokia firmly in replacement sales

Expand Our Portfolio Invest in Key Technologies

Winning Workforce

Deliver Compelling Solutions Leverage Brand Leadership

Nokia 2600 Nokia 6555 Nokia 6650 Nokia 6205 Nokia 6205 (AT&T) (AT&T) (AT&T) (Verizon) Dark Knight (Verizon)

Nokia 5310 Nokia 6301 Nokia 5610 Nokia 6263 Nokia 2605 (T-Mobile) (T-Mobile) (T-Mobile) (T-Mobile) (Verizon)

N96 N95 8GB N95 N82 N81 N78

N73 N810 Nokia E51 Nokia E71

E71 N95 8GB 5310 5310 3555 6086 2680 Fido MVNOs

2760 6555 3500 3500 6301 1208 Petro-Canada 5310 Primus MVNOs 7-Eleven Cityfone

Colin Giles Senior Vice President Distribution East India

278 © 2008 Nokia Capital Markets Day 2008 Nokia is the largest Multinational in India • Investing in and growing the Jammu& Kashmir market • Taking mobility to the masses Uttaranchal • Providing Universal Access

Rajasthan Uttar Assam • Generating employment Pradesh

Bihar

Gujarat West • Manufacturing – Nokia SEZ Madhya Pradesh Bengal (Special Economic Zone)

Diu Orrisa • Infrastructure – Nokia Maharashtra Siemens Networks • R&D Andhra Pradesh • Branded retail – Nokia priority dealers Karnataka • Mobile devices, enhancements & services Tamil Nadu Kerala

Monthly Subscriber Additions Income Level Income per month* Subscriber base 12 GSM CDMA Total 10 Lower 10 Up to USD 350 138 mn income 10 9 Millions 9 9 9 2 2 Middle 8 USD 350 – 1735 141 mn 8 2 2 2 2 income 2 Upper Above USD 1735 21 mn 6 income

4 8 8 Total 300 mn 7 7 7 6 7 2

Jul.08 Apr.08 May.08 Jun.08 Aug.08 Sep.08 Oct.08

* Based on National Council of Applied Economic Research (NCAER), Govt of India definition of middle class etc. Numbers refer to household incomes per month

• Rural is likely to account for over 50% of new subscribers • Services still nascent but picking up • 3G Roll-out • Increasing competition in the operator space

• Declining Device ASPs Estimated 500 million mobile subscribers in India by 2010

Source: Nokia

• Nokia is India’s most trusted brand

• Nokia’s brand preference continues to be strong at 77%

• Largest distribution network amongst device vendors – 162 000 retailers nation wide

• Pioneering India specific services business models

Sources: Economic Times, Nokia

Nokia has Unrivalled distribution Developed markets

Dimensions New African consumers • More than 900 million people Linguistic diversity • One quarter of the world’s Emerging markets • More than 1 000 nations languages • One fifth of the planet’s land mass Economic Diversity • GDP per capita (purchasing power Ethnic diversity parity) varies between USD 470 and USD 12 • More than 1 000 000 ethnic groups

Source: IMF, World Bank, CIA Fact Book, Nokia

The consumer is hungry for information as demonstrated by the amazing response that took all of us by surprise yesterday.

Just how magical can it get?

• Mobile often the only choice of telephony • Mobile likely to be first internet experience • Penetration relatively low (~18%) • Replacement market emerging • Socio-economic benefits of mobile technology • Mobile to become the banking platform for the ‘unbanked’

Source: Nokia

Quarterly Greater China market volume (M 50 units) • Most populous nation in the world 1.36 billion 45 40 inhabitants (2008) 35 • Mobile penetration 48% (Q3 2008) 30 • World’s largest mobile phone market 172 25 million devices (2007) 20 15 • Most internet users in the world 253 million 10 users in June 2008 5 • Largest multimedia market in the world – 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q largest market for Nokia N-Series devices 2007 2007 2007 2007 2008 2008 2008 1H07 – 1H08 +16%

3Q07 – 3Q08 +13%

Source: Nokia

• 2 Manufacturing Sites • One of the biggest Foreign • 10 R&D Sites Invested Companies in China • 12 000 Employees • Leader in Corporate Responsibility and • Nokia’s largest market with 13% Environmental initiatives of Global Sales Volume

(B EUR)7

6 • Nokia had 16% volume growth YoY 1Q- 3Q08 5 CAGR 30% • Growth driven by strong market growth and 4 maintained leading market share 3 • Nokia has built undisputed lead in Chinese

2 market with strong coverage across all price bands 1

0 2003 2004 2005 2006 2007 1-3Q08

Source: Nokia

Units (M) Market growth

+24% • Rural market growing significantly Urban faster than total market • Rural market penetration in 2007 22% vs. 62% in urban – still significant +38% potential remains

Rural • Nokia committed to driving sustainable sales in rural areas

Source: Sino-MR, CCID, BDA survey and interviews

in ChinaEstimated Quarterly Smartphone sales and Nokia share (M units)

• Nokia the leader in smartphone segment in China • Nokia’s average market share over last 7 quarters was 65% • Currently China is the largest market for Nokia N-Series devices in the world • Nokia is poised to take advantage of service opportunity through large base of advanced devices

Nokia Others vendors Source: Canalys

Three strong mobile operators emerging in China • Increased competition and value to Chinese consumers CDMA/ GSM/ TD- GSM/ WCDMA CDMA2000 SCDMA • Effective roll out of 3G New New New China Telecom China Unicom China Mobile • Drive opportunities to jointly develop

Pending – CDMA GSM service opportunities in the Satellite Telecom marketplace with operators • Nokia will continue to develop our strategic relationships with all Chinese operators in the future

293 © 2008 Nokia Capital Markets Day 2008 Nokia’s leadership in Distribution and Brand Nokia brand preference among Chinese consumers % 50 47 46 45 45 • Nokia leading in brand and distribution 42 43 41 • Nokia brand preference (46%) over 40 37 double that of competitors 36 35 34 33 • Leading vendor retail network of 130 30 Nokia branded retail stores and 2 25 flagship stores • Leading resources of sales reps and 20 promoters 15 • Over 1 300 permanent sales reps 10 • Over 4 000 permanent promoters 5 ramping up to 20 000 in peak seasons 0 07 07 07 07 06 06 06 08 08 06 ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ Q1 Q4 Q2 Q3 Q2 Q3 Q4 Q1 Q2 Q1

Population, Mobile Urbanization millions Penetration

Africa 758 35% 31% India 1110 28% 22% China 1361 45% 48%

• Connecting the next Billion… • Distribution Development builds barriers • Nokia Life-Tools adds extra value • Constantly rejuvenating the portfolio with more features and lower prices points

Judson Green President & CEO, NAVTEQ

In-Dash Vehicle • Virtually every car manufacturer and system vendor in Europe and North America uses NAVTEQ in one or more of its products • Nearly 20 million in-dash systems in EU and NA have been enabled with NAVTEQ maps since 1999 • First advanced driver assistance systems use NAVTEQ maps

Internet & LBS • Tens of billions of mapping transactions annually using NAVTEQ maps • Internet focus rapidly evolving to local search services • NAVTEQ maps enable all Verizon Wireless LBS in the U.S.

Mobile Devices • Significant share of European portable navigation business and leading map data supplier in North America • Nearly 50 million Portable Navigation Devices (PND) and smartphones in EU and NA have been enabled with NAVTEQ maps since 2001

Enterprise • Leading parcel and overnight delivery companies • Federal agencies, including GIA and FEMA • Enterprise software solutions using geospatial data, including Oracle and ESRI

Automotive OEMs

System Vendors

Telematics

Internet & LBS

Mobile Devices

Enterprise

• Road network data with rich attribution required for navigation applications

• Real-time, historical and predictive data products and services that bring traffic information to navigation experiences

• Rich information about places on the map, including: • Points of Interest • Pedestrian content • Venue-specific maps & content • Dynamic content e.g., fuel prices, event info, and parking availability

Product Superiority = Accuracy + Richness + Breadth

• More than 1 000 geographic analysts in more than 180 offices around the world • Drive millions of miles annually • Collect more than 260 attributes per road segment • Use patented tools, technology and proprietary processes, as well as multi-view camera systems • Capture and verify road network and location-based content – exactly as a driver or consumer would experience it

Turn Restrictions One-Ways Access Restrictions Underground Exits

Physical Barriers Complex Maneuvers Speed Limits Points of Interest (POIs)

Innovative New Content and Features

HOV Lanes Extended Lane Speed Limits Toll Guidance Scenic Routes Speed Zones Navigable Content

Satellite Imagery Junction Views 3-D Landmarks Digital Terrain 2D Building Foot Prints 3D City Models Display Content

Precise Road Geometry Lane Curvature Road Slope Enabling Content

Neighborhood Boundaries Pedestrian Paths Mass Transit Lines Travel Guides Pedestrian Content

Points of Interest Attribute Flags Real Time Traffic Trucking Telecommunications Voice Phonemes Informational Content

NAVTEQ Traffic™ Real Time NAVTEQ Traffic Flow Patterns Fuel Prices • Event listings Traffic & • Movie times Dynamic Content • Parking

Automotive Wireless • Car sales declining • Smartphone business becoming • Mix shifting to lower priced models more significant • Penetration continuing to increase • Wireless operators increasing focus on mobile applications • Low-cost in-dash navigation becoming available • Internet portals focusing on mobile LBS opportunity • Advanced Driver Assistance Systems representing a longer-term opportunity

Portable Navigation Device General • Volume growth moderating • Customers demanding new content • Lower ASPs dampening revenue to differentiate growth • Focus increasing on advertising- driven models

• Transaction closed July 10, 2008

• NAVTEQ operated as an independent unit

• New governance procedures and Board of Directors established

• Operating synergies realized

.Content .Technology

• Principal source of: • Location services server platform components – digital maps and POIs • Location content referencing – pedestrian maps, local content & transit information system • Location-based advertising – traffic information & other dynamic content fulfillment engine • Map sensor data processing – visual content

Map sensor data

Community input

Content & coverage roadmaps

• Development of innovative new content & capabilities

• Rapid expansion to new geographies

• Focus on high quality products and services

• Essential services & support for all customers

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 In a nutshell

• Walking the talk • Service providers’ challenges – our approach • Transforming development • Customer experience & network efficiency • Good green business sense • Strong portfolio and market-leading innovations

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Walking the talk

• Software sales have been developing well

• Good progress in solutions

• Portfolio strengthening “We are extremely pleased with Nokia Siemens Networks…as our preferred partner in creating the • Increasing R&D efficiency largest and most advanced continued networks in the world.” Dr. Marwan Al-Ahmadi, CEO, Zain Saudi Arabia

Source: Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Service providers’ challenges – our opportunities

Enriching customer Improve efficiency experience and quality

Changing business environment Extreme traffic Making a net growth positive impact

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Our approach in realizing opportunities

• Transforming development • Differentiating in focus areas • Ensuring good green business sense • Offering a strong portfolio and market-leading innovations

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Transforming development

From the traditional way… …to the new way

• Waterfall model • Agile model • “One size fits all” • Customer value focused • Specific design • Asset reuse • High cost development • Global resource balancing • Local infrastructure • Shared infrastructure

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Build for leadership in network efficiency and enriched customer experience Content and end-user Service management applications and charging

Enriched customer experience Connectivity Network efficiency

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Network efficiency solutions to provide connectivity at lowest cost

Our offering to service providers • Network simplification & automation • Modernization • Energy efficiency

We differentiate through “…Nokia Siemens Networks offered exactly what we • Clear leadership in energy efficiency need to overcome the • Driving role in network simplification bottleneck in our data network.” • Track record in bringing costs down Rico Chemnitz, Head of Core Network, 3 Austria

Source: Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Enriching customer experience for increased (life-time) value

Through customer insights and experience management • Subscriber Data Management • Next Gen Service Assurance & OSS • Unified charging

We differentiate through “With Traffica, we solve 98% of the problems during • Unique knowledge of experience drivers the 1st call.” • Compelling portfolio and know-how Vesa Suomalainen, Head • Excelling in solution delivery of the Customer Care department, Elisa

Source: Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Making a net positive impact to the business and environment

ICT can help to save nearly €600 billion Reducing power in 2020, i.e. consumption by up 7.8 billion tons CO2 to 70% Source: GeSI

Over 90% of Flexi BTS recyclable

Use of renewable energy sources and more

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Strong portfolio and market-leading innovations

• Largest WCDMA/HSPA footprint worldwide • Converged Core has shown strong growth Next Gen Service Assurance • “… 250,000 people around broke the 100 customers mark the Bird’s Nest at the opening ceremony, there • Driving optical innovation was not a single problem with the NSN network.” General Manager, Beijing Mobile Communication Corporation

Source: Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Way forward

Show thought leadership

Become a solutioneer

Excel in R&D productivity

Living up to our green ambitions

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Thank you

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Nokia Siemens Networks Leading transformation partner for Communications Service Providers Rajeev Suri Head of Services

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Achievement & Our approach Way forward opportunities

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Services growth momentum in place 2008: A strong year* North East • Revenue growth • Customer Care support, Elisa • Improving profitability Finland • 3G arrives in Uzbekistan with NSN North America • Sustained market share Services • Outsourcing for Embarq *cumulative up to Q3.08 • Remote BSC software upgrade for US service Greater China provider from GNSC, • Improving China Mobile’s end-user Chennai, India West-South Europe experience • Leading-edge wireless railway • Optimization at China Guangdong communications in Spain Mobile • Consultancy and hosting at Blyk • Network security entry in China • Service improvement at O2 Czech • Hosted MVNO, Conad Italy APAC • Turnkey contract with Hutchison Latin America Indonesia • 3G at TIM Brasil MEA • Managed Services activity in India • 24h network planning for • $150m turnkey and network • DVB-H for Global Mediacom, LAT operator through operations for Zain, Saudi-Arabia Indonesia remote delivery • Remote radio frequency • Location based services deployed optimization for a service provider in at Telkomsel Iran • World’s first commercial mobile-TV based on DVB-H for Qatar

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Service performance - right balance of local proximity, global scale and cost efficiency

Global Network Solution Center (GNSC) – Integrated Managed Service GlobalGlobal Delivery Care Center Center- (GCC) Service specific delivery CSI Service Delivery Centers (SDC) Local project organization - Project specific activities and customer interface

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Success in operational improvement

• Transformation through global delivery Deal discipline, strategy focus on margin and eye on cash • Efficiency gain programs generation • Supplier management • Utilization improvement • Standardization and automation

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Our assets to address the opportunities

Our Portfolio in Global Solution Innovation installed the growth delivery capabilities base segments model

> 20,000 service professionals across 150 countries*

* as of Q3.08

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Our approach Achievement Way forward & opportunitiesOpportunities

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 332 © Nokia Siemens Networks

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Driving network efficiency & enriched customer experience

Traditional operator

Network Network Network Optimization Network Network Products Business Customer Design Build and Upgrade Operation Care & Services Support Interaction

Transformed operator

Services partnership Services partnership for Network Efficiency for enriched customer experience

Nokia Siemens Networks Proposition

Global Service Processes and Service Delivery Model Automation Offerings

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Transformation requires Solutions

“The solution and services from Nokia Customer focus Siemens Networks mean that we are able to focus fully on promoting new, value- Industrialized procurement added services to our RFQs and E-auctions customers.” Offers easily compared Consultative Prices easily compared co-development Jan Blom, Director of Global / Corporate Market specific solutions Business Market and decisions Prices hard to compare Sales, 3 Sweden

Local / OpCo decisions Source: Nokia Siemens Networks

Network infrastructure focus

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 The NSN way of providing solutions

Defining a core strategy Identifying/optimizing Implementing Achieving intimacy the use of strategic an optimal value in the customer resources network interface

Consulting Service – Business, Processes End-user applications Service Management Customised solutions for service delivery Integrated Provisioning Solution Convergent Charging and Care Outsourcing and Hosted Services

Differentiate by monitoring, analyzing, managing, charging and bundling services in real time

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Solution example from a service provider from network efficiency to enriched customer experience For Consumers Cost Tracker Sponsored calls Differentiation

Efficiency New top-up (electronic) Enhanced distribution of e- top-up Retention MMS Browsing (flat fee) Multi-vendor network roll-out across 20 countries GPRS Roaming Signaling opt

Push Email Device Management (flat fee) Service Provider Challenge Mobile PBX/ Service Provider Challenge How can their customers Centrex beHow treated can their as “ virtualcustomers” local would be For Business customerstreated as “byvirtual the networks” local customers they byvisit the across networks 22 countries they visit in across 20 countries in terms of pricing, while With NSN Solutions customers can now terms of pricing, while retaining • Place calls at local rates while roaming theirretaining home network their home service network service functionality. • Receive incoming calls for free functionality? • Local top-up for pre-paid • Have access to home network services

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Way forward Achievement Our approach & opportunities

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Excellence in operational efficiency Creating value for the company

Global Service Processes and Delivery Model automation Processes Shared delivery • Functional Org. Model concept • Process FW

Standardization & automation

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Future-proof innovations Creating value for customers

Innovation in Aim Business model Innovation leadership

Solution Business transformation

Process Profitability

ACME Innovative site Prosper Platform partnership for designs – innovation in care improving (Aluminum feeder delivery processes; networks’ cables, Lattice environmental Tubular Towers) enhancing network performance quality & efficiency

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Our priorities going forward

Continue focus on improving profitability & market share

Enhance solution capabilities

Efficiency in global delivery

Continue embracing innovation

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51 Thank you

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R 255 R 255 R 127 R 255 R 0 R 137 R 163 R 175 R 52 G 211 G 175 G 16 G 255 G 0 G 146 G 166 G 0 G 195 B 8 B 0 B 162 B 255 B 0 B 155 B 173 B 51 B 51