Philips shareholders appoint Roy Jakobs as next President and Chief Executive Officer

September 30, 2022

Amsterdam, the Netherlands –

Royal Philips

(NYSE: PHG, AEX: PHIA) announced that today’s Extraordinary General Meeting of Shareholders (EGM) appointed Roy Jakobs as the company’s next President and Chief Executive Officer, effective October 15, 2022, succeeding current President and Chief Executive Officer Frans van Houten.

“I am very pleased that Roy Jakobs has been appointed today as the next CEO of Philips,” said Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips. “On behalf of the entire Supervisory Board, I would like to thank Frans for successfully leading Philips’ transformation into a focused, global solutions leader in health technology. We are convinced that Roy is the right successor to lead Philips’ efforts to help improve the health and well-being of people globally, and further shape the company for increased value creation for shareholders and all other stakeholders.”

“I have enjoyed and feel deeply privileged for having been given the opportunity to shape Philips onto a path of future relevance as we embraced health and healthcare innovation as our company focus,” said Frans van Houten, CEO of Royal Philips. “Much has been achieved in the past 12 years and I want to thank the many passionate, talented colleagues who have made this possible. Nevertheless, much remains to be done, and this will now be the task of the Executive Committee under the leadership of my successor. I wish Roy and the team much success.”

“I am honored to be appointed as the next CEO of Philips, and together with our Philips colleagues continue to help improve people’s health and well-being with meaningful innovations,“ said Roy Jakobs, incoming CEO of Royal Philips. “Philips is a unique company with a strong brand, more than 130 years of innovation power and a bright future as a leader in health technology solutions. I look forward to leading the company in a transparent way, empowering our people as we address the current challenges, while also shaping the next chapter of Philips.”

Additional information on the composition of Philips’ Board of Management and the Executive Committee can be found

here

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For more information about the EGM, please click on this

link

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For further information, please contact:

Elco van Groningen

Philips Global Press Office

Tel.: +31 6 8103 9584

E-mail:

[email protected]

Derya Guzel

Philips Investor Relations

Tel.: +31 20 59 77055

E-mail:

[email protected]

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at

www.philips.com/newscenter

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