Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 35

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 35
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 accompanying notes. 23 October 2025 18                                        |

| Notes                                                                                                 
 to Financial statements 1. GENERAL INFORMATION This unaudited and condensed consolidated              
 financial statement information of Nokia has been prepared in accordance with IAS 34, Interim         
 Financial Reporting, and it should be read in conjunction with the annual consolidated financial      
 statements for 2024 prepared in accordance with IFRS Accounting Standards as published by             
 the IASB and as adopted by the EU. The same accounting policies, methods of computation and           
 applications of judgment are followed in this financial statement information as was followed         
 in the annual consolidated financial statements for 2024, except for the below. In Q3 2025,           
 Nokia completed a strategic review of its venture fund investment activities. As a result,            
 Nokia no longer views broad-based venture fund investments as having a strategic role and             
 has initiated a process to scale down these investments. Consequently, the presentation of            
 the results of venture fund investments as operating activities is no longer considered relevant,     
 and therefore beginning from Q3 2025, Nokia is presenting the gains and losses from venture           
 fund investments, including the changes in fair value and the fund management fees, as financial      
 income and expenses. For the segment reporting purposes, the results of venture fund investments      
 had previously been included in the operating results of Group Common and Other. The comparative      
 financial information has been reclassified accordingly. As a result of the reclassification,         
 in Q3 2024 Nokia's reported selling, general and administrative costs decreased by EUR 4              
 million, other operating income increased by EUR 27 million and financial income decreased            
 by EUR 31 million. In Q1- Q3 2024, Nokia’s reported selling, general and administrative               
 costs decreased by EUR 13 million, other operating income increased by EUR 13 million and             
 financial income decreased by EUR 26 million. Additionally, in Q3 2024 and Q1-Q3 2024, EUR            
 32 million and EUR 26 million, respectively, was reclassified from "other" to "financial              
 income and expenses" within adjustments in Nokia’s consolidated cash flow statement.                  
 Percentages and figures presented herein may include rounding differences and therefore may           
 not add up precisely to the totals presented and may vary from previously published financial         
 information. This financial report was authorized for issue by the Board of Directors on              
 23 October 2025. Net sales and operating profit of the Nokia group, particularly in Network