Commitments, contingencies and legal proceedings (Tables)

12 Months Ended

Dec. 31, 2023

Commitments, contingencies and legal proceedings

Schedule of contractual obligations

EURm	Within 1 year	1-5 years	More than 5 years
2023
Purchase obligations	3 630	767	14
Lease commitments(1)	—	54	570
2022
Purchase obligations	5 308	509	79
Lease commitments(1)	—	31	192

(1)Relates to lease contracts that had not yet commenced as at the reporting date.

Schedule of guarantees and other contingent commitments

EURm	2023	2022
Guarantees on behalf of Group companies
Guarantees issued by financial institutions
Commercial guarantees(1)	1 477	1 238
Non-commercial guarantees	615	538
Corporate guarantees(2)
Commercial guarantees(1)	325	504
Non-commercial guarantees	35	32
Financing commitments
Customer finance commitments(3)	5	26
Venture fund commitments(4)	381	433

(1)Commercial guarantees are guarantees that are issued in the normal course of

business to Nokia’s customers for the performance of Nokia’s obligations under

supply agreements; these include tender bonds, performance bonds and warranty

bonds.

(2)Corporate guarantees are guarantees with a primary obligation that are issued to

Nokia’s customers and other third parties.

(3)Customer finance commitments are available under customer loan facilities.

Availability of the facility depends on the borrower’s continuing compliance with the

agreed financial and operational covenants, and other administrative terms of the

facility. The loan facilities are primarily available to fund purchases of network

infrastructure equipment and services. Refer to Note 4.5. Trade receivables and

other customer-related balances.

(4)As a limited partner in NGP Capital and certain other funds making technology-

related investments, Nokia is committed to capital contributions and entitled to

cash distributions according to the respective partnership agreements and

underlying fund activities. In January 2022, Nokia agreed on a capital commitment

of USD 400 million to NGP Capital’s Fund V. The fund’s emphasis on companies

developing emerging 5G use cases for industrial and business transformation aligns

closely with Nokia’s technology leadership vision and its efforts to maximize the

value shift towards cloud. Per industry standard practice, the capital will be called

throughout the 10-year lifecycle of the fund.