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4441>wom % I.,I6eIW4L IIM Slims %IW a3 4.40% 02 3.16% 02 2.41% a I L19% a I aPA. WO% a0 aSp. a0 a Lk% 107% a0 IS EFTA00307478 NOKIA CORPORATION (IILSE:NOKI V) t.rN.elca..enmxuris m3 «Its m)bila &acts. and ;tonal% Inlarrul meldegialmnimia: an, magabon ammo worlJno* hs Mamma: Smtec
ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV
4441>wom % I.,I6eIW4L IIM Slims %IW a3 4.40% 02 3.16% 02 2.41% a I L19% a I aPA. WO% a0 aSp. a0 a Lk% 107% a0 IS EFTA00307377 NOKIA CORPORATION (IILSE:NOKI V) t.rN.elca..enmxuris m3 «Its m)bila &acts. and ;tonal% Inlarrul meldegialmnimia: an, magabon ammo worlJno* hs Mamma: Smtec
ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV
4441>wom % I.,I6eIW4L IIM Slims %IW a3 4.40% 02 3.16% 02 2.41% a I L19% a I aPA. WO% a0 aSp. a0 a Lk% 107% a0 IS EFTA00307276 NOKIA CORPORATION (IILSE:NOKI V) t.rN.elca..enmxuris m3 «Its m)bila &acts. and ;tonal% Inlarrul meldegialmnimia: an, magabon ammo worlJno* hs Mamma: Smtec
ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV
Entities connected to both NOKIA and Limiting Conditions

George W. Bush
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Joi Ito
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Mao Zedong
PERSONDoug Band
PERSONMatra
ORGANIZATION
Bill Maher
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Michael Jackson
PERSONLeon Black
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Mantas
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Emory
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McGraw-Hill
ORGANIZATIONJulie
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ORGANIZATIONTatum
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Anita
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the Board of Directors
ORGANIZATIONHewlett-Packard Company
ORGANIZATION
England
LOCATION