May 8, 2017

Update on the 2017 Annual General Meeting of Shareholders

Amsterdam, The Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA) today announced that its Supervisory Board has withdrawn the proposal included as item 5 ‘Remuneration of the Supervisory Board’ from the Agenda for the 2017 Annual General Meeting of Shareholders (AGM) to be held on May 11, 2017.

While the Supervisory Board believes that the proposal to bring its remuneration in line with practices in a newly defined peer group is appropriate, it has chosen to withdraw it based on consultations with shareholders that made it clear that further discussions are needed to get to a broader consensus. The Supervisory Board will continue the discussions with all relevant parties before deciding on the best way forward for all stakeholders involved.

Click here to view the agenda with explanatory notes, the Annual Report 2016 (which was published on February 21, 2017), the binding recommendations and other documents relevant for the AGM.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health 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' health technology portfolio generated 2016 sales of EUR 17.4 billion and employs approximately 70,000 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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