Nokia Oyj · OMXHEX:NOKIA

Nokia Oyj — Q1 2021 Earnings Presentation

5 slides from Nokia Oyj's earnings presentation, Apr 29, 2021

1. Slide 1: Pekka Lundmark, President and CEO

   Pekka Lundmark President and CEO

2. Slide 2: Q1'20 to Q1'21 net sales

   1'20.01'21 netsales Coudand ert eves ua menos ose common andere

3. Slide 3: Q1 2021 to Q1 2020 bridge for net sales and operating profit

   Mobile Networks 2 262 2 345 (4 )% 2 % Cloud and Network Services 674 744 (9 )% (5 )% Group Common and Other 57 68 (16 )% (9 )% Eliminations (10 ) (9 ) 11 % Mobile Networks 76 15 407 % Cloud and Network Services (20 ) (39 ) (49 )% Group Common and Other 22 (108 ) Operating profit/(loss) 431 398 37 72

4. Slide 4: Net sales by region and customer type

   Europe 1 474 1 434 3 % 4 % India 248 212 17 % 27 % Middle East & Africa 415 482 (14 )% (8 )% Total 5 076 4 913 3 % 9 % EUR million Q1'21 Q1'20¹ YoY change Constant currency YoY change Asia Pacific (17 )% (14 )% Greater China 21 % 23 % Latin America 4 % 11 % North America 13 % 23 % 1 In the first qua

5. Slide 5: Free cash flow

   Free cash flow During Q1 2021, Nokia’s free cash flow was EUR 1.2 billion, driven by strong adjusted profit and cash inflows related to net working capital, partially offset by cash outflows related to capital expenditures, restructuring, income taxes and net interest. Our free cash flow in Q1 2021

Nokia — Q1 2021 Earnings Presentation on 6ix