Company: NOKBF
Filing Date: 2025-02-13
Form Type: 6-K
Source: 0001104659-25-012639
Chunk: 12

Company: NOKIA CORP
Filing Date: 2025-02-13
Form: 6-K
Chunk 12
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 We compete in a global market for talent in the technology sector. In forming the Policy, the Personnel      
 Committee has taken into account the views of shareholders and the needs of the Company to attract,          
 retain and motivate individuals of suitable caliber and experience to lead Nokia.                            
 The Board and the Personnel Committee regularly monitor the effectiveness of the measures used in our        
 incentive plans to ensure that they align with and drive the strategy of the Company. At the core of Nokia's 
 remuneration philosophy lie three principles:                                                                
 • Pay for performance and aligning the interests of employees and shareholders;                              
 • Ensuring that remuneration programs and policies support the delivery of the corporate strategy            
 and create long-term sustainable shareholder value; and                                                      
 • Ensuring that executive remuneration reflects the contribution to achieving our ESG targets which          
 support the long-term shareholder value creation.                                                            
 The incentive structure and performance metrics are determined with these principles in mind.                |

| 2 / 9 Remuneration Policy © 2025 Nokia                                                              
 Considerations when setting the Policy                                                              
 In preparing the Policy, the Committee takes into consideration a number of factors:                
 • The Committee applies the principles set out in the Finnish Corporate Governance Code and also    
 takes into account best practice guidance issued by the large investors, the proxy advisors and     
 other relevant organizations;                                                                       
 • The President and CEO’s remuneration is structured and operated under a framework similar to      
 other employees, but the quantum differs due to responsibilities attached to the role. The          
 Personnel Committee has overall responsibility for the remuneration policies and structures for     
 employees of Nokia as a whole. When the Committee reviews and the Board determines the Policy       
 for the President and CEO, they consider and compare it against the pay, policies and employment    
 conditions of the Nokia employees to ensure that there is appropriate alignment between the two;    
 and                                                                                                 
 • The Committee also considers the external market in which Nokia operates and from time to time    
 takes into account the remuneration data of the global peer group companies, similar in their size  
 and field of business, to inform its decisions. However, the Committee recognizes that such data    
 should be used as a guide only and that there is often a need to phase in changes over a period of  
 time. Any changes proposed for the President and CEO reflect not only performance in role but also  
 relevant competence and skills as would be applied to other Nokia employees.                        
 Engagement with shareholders                                                                        
 The Personnel Committee is committed to an ongoing dialogue with shareholders