Mar 30, 2020

Periodic update on transaction details related to Philips’ share repurchases

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today reported that on March 20, 2020 a total of 760,000 of its own common shares were repurchased, with a weighted average purchase price of EUR 32.65. These repurchases were made under the repurchase program for capital reduction purposes, which was announced on January 29, 2019.

On March 23, 2020, Philips announced that the remainder of the share repurchase program will be executed through one or more individual forward transactions, to be entered into in the course of 2020, with expected settlement dates in the second half of 2021. The size of the share buyback program - up to an amount on EUR 1.5 billion - remains unchanged. Philips will continue to provide updates on the progress of the program through press releases as appropriate, and further details will be available here.

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 2019 sales of EUR 19.5 billion and employs approximately 80,000 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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