Nokia 2005 Annual Report Download - page 13

Federal Reserve Bank of New York (the ‘‘noon buying rate’’) on the respective dividend payment
dates.
EUR millions
EUR per share USD per ADS (in total)
2001 ............................. 0.27 0.24 1 279
2002 ............................. 0.28 0.30 1 341
2003 ............................. 0.30 0.36 1 439
2004 ............................. 0.33 0.43 1 539
2005 ............................. 0.37(1) —(2) 1 641(1)
(1) To be proposed by the Board of Directors for approval at the Annual General Meeting
convening on March 30, 2006.
(2) The final US dollar amount will be determined on the basis of the decision of the Annual
General Meeting and the dividend payment date.
We make our cash dividend payments in euro. As a result, exchange rate fluctuations will affect
the US dollar amount received by holders of ADSs on conversion of these dividends. Moreover,
fluctuations in the exchange rates between the euro and the US dollar will affect the dollar
equivalent of the euro price of the shares on the Helsinki Stock Exchange and, as a result, are
likely to affect the market price of the ADSs in the United States. See also ‘‘Item 3.D Risk Factors—
Our sales, costs and results are affected by exchange rate fluctuations, particularly between the
euro, which is our reporting currency, and the US dollar, the Chinese yuan, the UK pound sterling
and the Japanese yen as well as certain other currencies.’’
Exchange Rate Data
The following table sets forth information concerning the noon buying rate for the years 2001
through 2005 and for each of the months in the six-month period ended February 28, 2006,
expressed in US dollars per euro.
The average rate for a year means the average of the exchange rates on the last day of each
month during a year. The average rate for a month means the average of the daily exchange rates
during that month.
Exchange Rates
Rate at Average Highest Lowest
For the year ended December 31: period end rate rate rate
(USD per EUR)
2001 ............................................. 0.8901 0.8954 0.9535 0.8370
2002 ............................................. 1.0485 0.9495 1.0485 0.8594
2003 ............................................. 1.2597 1.1411 1.2597 1.0361
2004 ............................................. 1.3538 1.2478 1.3625 1.1801
2005 ............................................. 1.1842 1.2400 1.3476 1.1667
For the month ended:
September 30, 2005 ................................. 1.2058 1.2234 1.2538 1.2011
October 31, 2005 ................................... 1.1995 1.2022 1.2148 1.1914
November 30, 2005 ................................. 1.1790 1.1789 1.2067 1.1667
December 31, 2005 ................................. 1.1842 1.1861 1.2041 1.1699
January 31, 2006 ................................... 1.2158 1.2126 1.2287 1.1980
February 28, 2006 .................................. 1.1925 1.1940 1.2100 1.1860
On February 28, 2006, the noon buying rate was USD 1.1925 per EUR 1.00.
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