Nokia Savings/401(k) Plan - BenefitAnswers Plus

The Plan At A GlanceFeatureSummaryare paid in cash. However, Participants who had shares ofNokia stock deposited into the Plan’s self-directedbrokerage account as a result of the merger of the NokiaSolutions and Networks Savings Plan with and into the Plan(attributable to their investment, at the time of themerger, in the Nokia stock fund) may take an in-kinddistribution of such deposited shares (to the extent held atthe time of such distribution).BeneficiaryIf you die, your Plan account will be paid to yourBeneficiary(ies).Nokia Benefits ResourceCenterThe Nokia Benefits Resource Center is the service centerfor the Plan. It maintains information regarding your Planaccount. It is also your resource for information regardingthe Plan and for all Plan-related transactions, such as:enrolling in the Plan, making contribution elections, makinginvestment elections, transferring between investmentfunds or between investment funds and a self-directedbrokerage account, obtaining or paying off a Plan loan,receiving an In-Service Withdrawal, or receiving a Plandistribution upon or after a Severance From Employment.The Nokia Benefits Resource Center is available onlinethrough the Your Benefits Resources (YBR) website athttp://resources.hewitt.com/nokia, 24 hours a day, sevendays a week (except for any period when websitemaintenance is occurring). The Nokia Benefits ResourceCenter is also available by phone. Inside the United States,call 1-888-232-4111 and select “Retirement andInvestments.” Representatives are available any BusinessDay from 9:00 a.m. to 5:00 p.m., Eastern Time. A VoiceResponse System (VRS) is also available 24 hours a day,7 days a week. Outside the United States, call1-212-444-0994 collect on Business Days from 9:00 a.m.to 5:00 p.m., Eastern Time, to speak with a representative.Nokia Savings/401(k) Plan, 1/2017Page 5

Terms You Should KnowThere are several words and phrases that have specific meanings under the Plan. Thissection explains those terms so you can better understand your benefits. These terms arecapitalized when they appear in this SPD.After-tax Contributions: contributions you make to the Plan after applicable federal, stateand local income taxes are withheld from your pay.Alternate Payee: a spouse or former spouse, child, or other dependent of a Participant whois recognized by a Qualified Domestic Relations Order (QDRO) as entitled to Plan benefits.Beneficiary: the person(s), trust(s), charity(ies), and/or estate(s) designated by you toreceive your Vested Plan account balance upon your death. Your designation of aBeneficiary (or Beneficiaries) is effective only if the designation is on file with the NokiaBenefits Resource Center.Business Day(s): any day the New York Stock Exchange is open for business.Catch-up Contributions: the additional Pre-tax Contributions that Participants who areage 50 and older (or who are turning age 50 in the Plan Year) may make each Plan Yeargreater than any limits imposed by the IRS or by the Plan; provided, however, that theCatch-up Contributions do not exceed the maximum amount allowed by law.Code: the Internal Revenue Code of 1986, as amended.Committee: see 401(k) Committee.Company: Alcatel-Lucent USA Inc., a Delaware corporation, and any successor entity.Company Matching Contributions: the Plan no longer provides for Company MatchingContributions. Company Matching Contributions that were made to your Plan account (orto your account under a prior plan, such as the Nokia Solutions and Networks Savings Planthat was merged into the Plan) will continue to be recordkept separately. (See “Your PlanAccount,” later in this SPD, for information regarding certain restrictions relating toCompany Matching Contributions.)Differential Pay: The term “differential pay” means any payment the employer makes to anindividual who is on active duty in the uniformed services of the United States of America(as defined in chapter 43 of title 38, United States Code) for more than 30 days thatPage 6Nokia Savings/401(k) Plan, 1/2017

Terms You Should Knowrepresents the difference between their military pay and the wages the individual wouldhave received had he/she not been on active duty with the military.Direct Roll-In: an amount you have transferred to the Plan from an Eligible Employer Planor from a Traditional IRA. With a Direct Roll-In, no tax withholding is required from yourdistribution from that plan or Traditional IRA.Eligible Compensation: your base pay (prior to reductions of pay for contributions to thePlan and/or to the Company’s cafeteria plan for welfare benefit plan coverage) paid to youduring the period with respect to which you make Plan contributions. Eligible Compensationalso includes differential pay on account of a qualified military leave of absence. EligibleCompensation does not include any other form of pay or compensation (e.g., such as, byway of example only, commissions, overtime pay, shift differentials, and bonuses). Themaximum amount of Eligible Compensation that can be taken into account for purposes ofcontributing to the Plan is limited by the IRS. (In 2016, this amount was 265,000.)Eligible Employee: an active employee of a Participating Company who is not an ExcludedEmployee.Eligible Employer Plan: a plan qualified under section 401(a) of the Code, including a 401(k)plan, a profit-sharing plan, a defined benefit plan, a stock bonus plan, and a moneypurchase plan; a section 403(a) annuity plan; a section 403(b) tax-sheltered annuity; and aneligible section 457(b) plan maintained by a governmental employer (governmental 457plan).Eligible Rollover Distribution: the portion of a Plan payment that can be rolled over into aTraditional IRA or Eligible Employer Plan that accepts rollovers. A partial distribution or fulldistribution of your Plan account after Severance from Employment generally qualifies asan Eligible Rollover Distribution unless it is part of a series of equal or almost equalpayments that are made at least once a year and that will last for: Your lifetime or your life expectancy, or your lifetime and your Beneficiary’s lifetime,or A period of 10 years or more.Hardship withdrawals are not Eligible Rollover Distributions. In addition, After-taxContributions may not be rolled over into a governmental 457 plan or any other plan thatrefuses to accept them.ERISA: the Employee Retirement Income Security Act of 1974, as amended.Excluded Employee: for purposes of the Management Plan Design: (1) an employeecovered by a collective bargaining agreement, (2) an individual who does not receivepayment for services from a Participating Company’s U.S. payroll, even if such individual isNokia Savings/401(k) Plan, 1/2017Page 7

Terms You Should Knowreclassified by a court or administrative agency as a common law employee of aParticipating Company, (3) an employee who is employed by an independent company (suchas an employment agency), (4) an employee whose services are rendered pursuant to awritten agreement that excludes participation in the Company’s benefit plans, (5) a LeasedEmployee, (6) a temporary employee, (7) an intern, (8) a co-op student, (9) a trainee (otherthan an International Graduate Trainee), or (10) an employee accruing benefits under anyNokia non-US pension scheme or eligible to participate in any Nokia non-US retirementsavings plan--such as the Company International Retirement Savings Plan.General Loan: a type of Loan available from the Plan that can be paid back over a period oftime measured in whole months from a minimum of 12 months to a maximum of 60months.Highly Compensated Employee: generally, an employee whose earnings exceed a specificdollar amount established by the IRS and who was among the “top-paid” group ofemployees for the preceding year. This dollar amount is adjusted periodically for cost ofliving increases. In 2016, you are considered to be a Highly Compensated Employee if youearned more than 120,000 in 2015 and were among the top 20% of employees of Nokia,ranked by compensation.In-Service Withdrawal: a distribution, other than a Loan, of less than your entire Planaccount while you are actively employed by a Participating Company.IRA (Individual Retirement Account) or Traditional IRA: an individual retirement account asdescribed in Section 408(a) of the Code or an individual retirement annuity as described inSection 408(b) of the Code. For purposes of the Plan, IRA does not include a Roth IRA asdescribed in Section 408A of the Code.IRS: Internal Revenue Service.Leased Employee: an individual as described in Section 414(n) of the Code.Loan: an amount you borrow from your Plan account.Management Plan Design: that portion of the Plan applicable to Eligible Employees (otherthan employees covered by a collective bargaining agreement) and to Participants who,when actively employed, were not covered by a collective bargaining agreement.Nokia: the Company and each entity required to be aggregated with the Company underSections 414(b), (c), (m) or (o) of the Code, i.e., all companies (parents, subsidiaries, andaffiliates) that are under “common control” with the Company, plus the Company.Effectively, this means all “Nokia group” companies.Nokia Benefits Resource Center: the service center for the Plan; your resource for Planinformation and for all Plan-related transactions, such as: enrolling in the Plan, makingPage 8Nokia Savings/401(k) Plan, 1/2017

Terms You Should Knowcontribution elections, making investment elections, transferring between investmentfunds or between investment funds and a self-directed brokerage account, obtaining orpaying off a Plan loan, receiving an In-Service Withdrawal, or receiving a Plan distributionupon or after a Severance From Employment. (See “Important Contacts” at the end of thisSPD.)Nokia 401(k) Committee: the committee appointed by the Company to oversee theadministration of the Plan.Nokia Solutions Plan: the Nokia Solutions and Networks Savings Plan, which was mergedinto the Plan effective at 11:59 p.m. on December 31, 2016.Participant: an Eligible Employee who has enrolled in the Plan and has a Plan accountbalance of greater than 0.Participating Company: each of the following: Alcatel-Lucent Investment Management Corporation Alcatel-Lucent USA Inc. Nokia Networks US SON LLC Nokia Solutions and Networks US LLC.Permanent Disability: a state of physical or mental incapacity of a Participant such that, inthe opinion of the 401(k) Committee or its delegate, based upon a medical certificate froma physician or physicians satisfactory to the committee or its delegate, such Participant, byreason of injury, illness, or disease, is unable to fulfill the requirements of his or her lastposition with the Company or its Affiliates and such inability will be permanent andcontinuous during the remainder of his or her life.Plan Year: the calendar year.Pre-tax Contributions: contributions you make to the Plan that are withheld from yourEligible Compensation before federal income taxes, and in some cases, state and localincome taxes are applied. Social Security taxes are deducted from your total amount ofEligible Compensation, including the portion of which you elect to defer to the Plan as Pretax Contributions.Primary Residence Loan: a type of Loan available from the Plan taken for the purpose ofpurchasing a Participant’s principal residence that can be paid back over a period of timemeasured in whole months from a minimum of 1 month to a maximum of 180 months.QDIA: see Qualified Default Investment Alternative.Nokia Savings/401(k) Plan, 1/2017Page 9

Terms You Should KnowQDRO: see Qualified Domestic Relations Order.Qualified Default Investment Alternative (QDIA): the investment funds designated underthe Plan for investment of contributions made by you or on your behalf to the Plan forwhich you have not provided investment direction. For information on the Plan’s QDIA, seethe Qualified Default Investment Alternatives Notice, distributed annually to you. A copy isalso available by logging on to the Your Benefits Resources website or calling the NokiaBenefits Resource Center. (See “Important Contacts” at the end of this SPD.)Qualified Domestic Relations Order (QDRO): a decree, judgment or court order, usually inconnection with a divorce or legal settlement, that has been determined by the SavingsPlan Administrator to be qualified under the Code and ERISA and that requires part or all ofyour Plan account balance to be paid to meet a property settlement agreement, alimony, orchild or dependent support payments.Qualified Military Service: any service in the uniformed services of the United States ofAmerica (as defined in chapter 43 of title 38, United States Code) by any individual if suchindividual is entitled to reemployment rights upon his/her return after the completion ofsuch service.RMD: the annual required minimum distributions of your account that must be made toyou by April 1 of the calendar year following the calendar year in which you reach age 70½or terminate, whichever is later.Represented/Occupational Plan Design: that portion of the Plan applicable to employeeswhose employment is covered by a collective bargaining agreement that provides forparticipation in the Plan.Roll-In Contributions: a distribution that you deposited in the Plan, which you receivedfrom an Eligible Employer Plan or Traditional IRA, or as the surviving Spouse of a participantin an Eligible Employer Plan or Traditional IRA.Rollover: a payment of all or part of your Eligible Rollover Distribution from the Plan to aTraditional IRA or an Eligible Employer Plan that accepts rollovers.Savings Plan Admini

The Plan At A Glance Nokia Savings/401(k) Plan, 1/2017 Page 5 Feature Summary are paid in cash. However, Participants who had shares of Nokia stock deposited into the Plan's self-directed brokerage account as a result of the merger of the Nokia Solutions and Networks Savings Plan with and into the Plan