August 11, 2026   Amsterdam, the Netherlands - Royal Philips (NYSE:PHG, AEX: PHIA)), a global leader in health technology, and Exor N.V. today announced that they have agreed to update their long-term relationship

Exor and Philips Extend Long-term Relationship Agreement

Exor raises Philips stake cap to 22%, signaling long-term support

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>August 11, 2026   Amsterdam, the Netherlands - Royal Philips (NYSE:PHG, AEX: PHIA)), a global leader in health technology, and Exor N.V. today announced that they have agreed to update their long-term relationship</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Royal Philips and Exor NV updated their long-term relationship to raise Exor&#039;s stake-cap to 22% from 20%, with possible further increases subject to Supervisory Board approval. Governance remains intact, including Exor&#039;s right to nominate one Supervisory Board member. The arrangement underscores Exor&#039;s confidence in Philips&#039; 2026–2028 plan and could influence strategic direction and capital allocation over the coming years.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Exor increases Philips stake cap to 22% from 20%.</li><li>Governance unchanged; Exor retains one Supervisory Board seat.</li><li>Philips and Exor emphasize long-term strategy and 2026–2028 plan.</li><li>Exor remains Philips&#039; largest shareholder; update signals commitment.</li><li>Date Aug 11, 2026; press release by Philips and Exor.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Royal Philips (PHG)</strong>: Largest health-technology company; stake update may influence strategic direction and capital allocation.</li><li><strong>Exor N.V. (EXO)</strong>: Largest Philips shareholder; stake flexibility expanded, signaling long-term commitment and potential governance influence.</li></ul>
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  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>This is a corporate developments/M&amp;A-type update focused on ownership and governance. It signals continued alignment with Philips&#039; long-term strategy and could influence strategic decisions and capital allocation over the next few years.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Exor raises stake cap to 22%, with potential further increases.</li><li>Governance unchanged; Exor retains one Supervisory Board seat.</li><li>Move underlines Exor&#039;s confidence in Philips&#039; 2026–2028 plan.</li><li>Immediate price reaction likely gradual; catalyst is longer-term governance impact.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date: August 11, 2026.</li><li>Exor can raise its Philips stake to up to 22% from 20%.</li><li>Governance remains unchanged; Exor can nominate one Supervisory Board member.</li><li>Philips 2025 sales approx. EUR 18 billion; ~63,700 employees.</li><li>Exor is Philips&#039; largest shareholder; further stake increases subject to Supervisory Board approval.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>PHG could see modest upside over 6–12 months as Exor deepens ownership and signals confidence.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>August 11, 2026 </p>  <p>Amsterdam, the Netherlands - Royal Philips (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PHG">PHG</a>, AEX: PHIA)), a global leader in health technology, and Exor N.V. today announced that they have agreed to update their long-term relationship agreement. </p>  <p>It provides Exor with the flexibility to increase its shareholding in Philips to up to 22% of the company’s issued ordinary share capital and voting rights, up from the previous 20% cap, with the possibility of increasing its stake further subject to approval by the Philips Supervisory Board. Governance arrangements remain unchanged, including Exor&#39;s right to nominate one member of the Philips Supervisory Board.</p>  <p>Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips, said:<br></br><i>"Exor’s long-term commitment underlines its confidence in Philips and its strategy. The Supervisory Board values Exor’s constructive engagement, and I appreciate Benoît Ribadeau-Dumas’ continued contribution as we oversee Philips’ strategic direction."</i></p>  <p>Roy Jakobs, CEO of Royal Philips, said:<br></br><i>"The updated agreement reflects Exor’s support for Philips and its Board of Management as we execute our 2026–2028 plan. It underscores the value creation potential of the plan and our focus on delivering profitable growth."</i></p>  <p>John Elkann, CEO of Exor, said:<br></br><i>&#34;We support Philips’ long-term strategy defined by innovation, value creation and disciplined execution. The updated agreement reflects our continued commitment to Philips as its largest shareholder.&#34;</i></p>  <p><b>About Royal Philips</b><br></br>Royal Philips (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PHG">PHG</a>, 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.</p>  <p>Headquartered in the Netherlands, the company is a leader in image-guided therapy, diagnostic imaging, ultrasound, monitoring, enterprise informatics and personal health. Philips generated 2025 sales of approximately EUR 18 billion and employs approximately 63,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.</p>  <p><b>About Exor </b><br></br>Exor N.V. (AEX: EXO) has been building great companies since its foundation by the Agnelli Family. For more than a century, Exor has made successful investments worldwide, applying a culture that combines entrepreneurial spirit and financial discipline. Its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Philips, CNH and Stellantis.</p>  <p><b>Forward-looking statements and other important information</b><br></br>This 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.</p>  <p><b>Media contacts </b></p>  <p>Michael Fuchs<br></br>Philips Global External Relations<br></br>Contact details<br></br>Tel: +31614869261<br></br><a href="https://www.globenewswire.com/Tracker?data=S97zEghg7DGzEx-7xVot8wXTg0fvCkM8c_nf0tlztz7IA0p1QESx8l7wBYmfhaV-a7J2R-irODuO_HGaHlCd4OAjJZflvI0Ck_FXj0gMYCo=" rel="nofollow" target="_blank">media@philips.com</a> </p>  <p>Dorin Danu<br></br>Philips Investor Relations<br></br>Contact details<br></br>Tel: +31205977055<br></br><a href="https://www.globenewswire.com/Tracker?data=z4XnkkW24nVR5yMDdfjm3UAnJjVN1oO2K9a4i1Um1SOhE5-C5Eo4y6YgRs-HLINGdTv_s_Yqzik2L9NJkH35oqOHK2B03T8bcLfOQC57gCKWSQpHdr0CYXUH6sa10uvu" rel="nofollow" target="_blank">dorin.danu@philips.com</a> </p> 

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Royal Philips and Exor NV updated their long-term relationship to raise Exor's stake-cap to 22% from 20%, with possible further increases subject to Supervisory Board approval. Governance remains intact, including Exor's right to nominate one Supervisory Board member. The arrangement underscores Exor's confidence in Philips' 2026–2028 plan and could influence strategic direction and capital allocation over the coming years.

News insight

Exor and Philips Extend Long-term Relationship Agreement

AI summary

Sentiment rationale

Key facts

M&A