Jehanne Leroy
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Proxy Report - 30/05/2018

We believe that a company listed on 2 markets should therefore comply with both local corporate governance best practices. Although Nokia complies with the Finnish governance code, it fails to adhere to fundamental tenets of the French code. Notably, the company does not provide shareholders with the opportunity to vote on executive remuneration nor does it allow for directors to be elected individually. For the former
shareholders of Alcatel-Lucent, this is a significant departure from best practices and hence we voice our concerns in resolutions 9 and 12.

Nokia Corp.

Nokia is an Internet and communications technology company based in Finland. Co.'s operations are focused on three businesses: network infrastructure software, hardware and services, which Co. offers through Networks; location intelligence, which Co. provides through HERE; and advanced technology development and licensing, which Co. pursues through Technologies. Co. maintains a global presence with operations and Researh & Development facilities located in Europe, North America and Asia, and sales in approximately 130 countries. Co. has an installed base of around 600 customers worldwide and these operators serve over 4 billion subscribers.


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Jehanne Leroy

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