Philips announces exchange ratio for 2023 dividend

May 15, 2024

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), today announced that the exchange ratio for the dividend for the year 2023 is 1 new common share for every 29.2684 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 9, 10 and 13, 2024, of EUR 24.8481 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 30,860,582 new common shares.

Distribution of the dividend with delivery of new common shares and settlement of any fractions in cash, will take place from May 16, 2024. Upon distribution, the total issued share capital will amount to EUR 188,875,310 representing 944,376,548 common shares. In the second quarter, Philips intends to cancel 4,437,164 shares that were acquired under the now completed EUR 1.5 billion share repurchase program for capital reduction purposes, as announced on July 26, 2021. Post cancellation, the total number of issued shares will amount to 939,939,384 common shares. More information is available via this link.

For further information, please contact:

Ben ZwirsPhilips External RelationsTel.: [phone]E-mail: [e-mail]

Dorin DanuPhilips Investor RelationsTel.: [phone]E-mail: [e-mail]

About Royal PhilipsRoyal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring, and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 69,100 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statementsThis release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.