Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 49

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 49
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ities and unlisted   
 venture funds, including investments managed by NGP Capital specializing in growth-stage           
 investing. The fair value of level 3 investments is determined using one or more valuation         
 techniques with unobservable inputs, where the use of the market approach generally consists       
 of using comparable market transactions, while the use of the income approach generally consists   
 of calculating the net present value of expected future cash flows. Level 3 Financial liabilities  
 consist primarily of a conditional obligation to China Huaxin related to Nokia Shanghai Bell.      
 23 October 2025 27                                                                                 |

| Changes                                                                                         
 in level 3 financial assets and liabilities measured at fair value: EUR million Financial       
 Assets Financial Liabilities 1 January 2025 865 (533) Net losses in income statement (74)       
 (14) Additions 99 — Deductions (15) 5 Other movements — 1 30 September 2025                     
 875 (541) The gains and losses from financial assets and liabilities categorized in level       
 3 are included in financial income and expenses. A net loss of EUR 94 million related to        
 level 3 financial instruments held at 30 September 2025 was included in the profit and loss     
 during 2025 (net gain of EUR 17 million related to level 3 financial instruments held at        
 31 December 2024 during 2024). 9. INTEREST-BEARING LIABILITIES Carrying amount (EUR million)    
 Issuer/borrower Instrument Currency Nominal (million) Final maturity 30 September 2025 30       
 September 2024 31 December 2024 Nokia Corporation EIB R&D Loan EUR 500 2/2025 —                 
 500 500 Nokia Corporation NIB R&D Loan EUR 83 5/2025 — 83 83 Nokia Corporation                  
 2.375% Senior Notes EUR 292 5/2025 — 291 292 Nokia Corporation 2.00% Senior Notes               
 EUR 630 3/2026 629 621 624 Nokia Corporation 4.375% Senior Notes USD 500 6/2027 417 434 458     
 Nokia of America Corporation 6.50% Senior Notes USD 74 1/2028 63 66 71 Nokia Corporation        
 3.125% Senior Notes EUR 500 5/2028 491 487 487 Nokia of America Corporation 6.45% Senior        
 Notes USD 206 3/