Philips to propose the appointment of Ernst & Young Accountants LLP as its auditor as of 2016

September 1, 2014

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that following an extensive selection process, its Supervisory Board will propose to the 2015 Annual General Meeting of Shareholders the appointment of Ernst & Young Accountants LLP as the company’s new auditor for a term of four years starting January 1, 2016.

The proposed appointment of the new auditor follows the new Dutch legislation on mandatory auditor rotation. Philips’ current auditor, KPMG Accountants N.V., will remain in place until the conclusion of the audit for the financial year 2015.

Further information on Philips’ Auditor Policy can be found in the company’s 2013 Annual Report.

For further information, please contact:

Steve Klink
Philips Group Communications
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

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About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2013 sales of EUR 23.3 billion and employs approximately 113,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

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