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Philips provides update on the Annual General Meeting of Shareholders 2025 Agenda

1. Philips plans to appoint Bob White to the Supervisory Board. 2. White's expertise in health technology benefits Philips' strategic direction. 3. He will also become CEO of Olympus Corporation, limiting his prior board roles. 4. Dr. Paul Stoffels will chair the Quality & Regulatory Committee post-AGM approval. 5. Philips emphasizes innovation and growth in health technologies.

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Why Bullish?

The appointment of a highly qualified board member typically signals confidence and strategic growth. Historical precedents show leadership changes often correlate with positive stock performance.

How important is it?

The article highlights a key leadership change, indicating potential positive shifts in strategy and governance at Philips.

Why Long Term?

Leadership changes often lead to strategic shifts, impacting future growth positively over time. Companies like Johnson & Johnson saw sustained growth after appointing experienced leaders.

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OCPNYJNJSYK
April 25, 2025 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) provides an update on the Annual General Meeting 2025 which has been convened on March 24, 2025 (AGM). As previously announced, the AGM agenda includes the proposal to appoint Mr Bob White (American, 1962) as a new member of the Supervisory Board, with effect from May 8, 2025, given his extensive expertise and experience in health technology and quality. Since the company published the agenda for the AGM, Mr White has been nominated to become Chief Executive Officer at Olympus Corporation and has informed the company that in view of this nomination and his nomination at Philips, he will step down from other board positions he currently holds. In light hereof, the Supervisory Board and Mr White have agreed that he will become a member of Philips’ Quality & Regulatory (Q&R) Committee but that he will not be acting as its chair as was previously communicated. Following shareholders’ approval of all proposals in respect of the Supervisory Board composition at the AGM, Dr Paul Stoffels will become chair of the Q&R Committee of the Supervisory Board, and Mrs Herna Verhagen will succeed Dr Paul Stoffels as chair of its Remuneration Committee. Following his appointments at Philips and Olympus, Mr White will hold one non-executive and one executive position at publicly listed companies in line with current guidelines from proxy advisors on directors’ external commitments. For further information, please contact: Michael FuchsPhilips Global External RelationsTel.: +31 61486 9261E-mail: media@philips.com Dorin DanuPhilips Investor RelationsTel.: +31 20 59 77055E-mail: dorin.danu@philips.com 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 2024 sales of EUR 18 billion and employs approximately 67,800 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter. Forward-looking statements and other important informationThis 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.

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