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Nokia Comments On Market Rumors Related To Annual Report On Form 20-F

Given the market reaction and inquiries related to a disclosure in the risk factors section of its annual report on Form 20-F for 2018, Nokia issued statement to clarify that the specified investigation is not expected to have a material impact on Nokia.

Nokia said it has seen no evidence that would suggest that criminal penalties would apply in this case, and it believes it is highly likely that any penalties that might apply would be limited and immaterial.

Nokia clarified that the context of this disclosure is the risk factors section of its annual report on Form 20-F where the company lists various risks which could potentially have a material impact on it. However, the disclosure does not reflect Nokia's assessment of the expected or likely impact of the investigation on Nokia.

For audit purposes, the overall group materiality is defined as 125 million euros as disclosed in Nokia's annual report for 2018.

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