NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR

DISTRIBUTION IS UNLAWFUL

Koninklijke Philips N.V. Announces Pricing Terms of Any and All Tender Offer for Certain Outstanding

USD-Denominated Notes

Amsterdam, The Netherlands Koninklijke Philips N.V. ( Royal

Philips or the Company ) today announces the pricing terms of its previously announced tender offer (the Offer ) to purchase for cash any and all of its outstanding 71/8% Series A Debentures due 2025 (the 2025 Series A Notes ), 73/4% Series B Debentures due 2025 (the 2025 Series B

Notes ) and 7.200% Notes due 2026 (the 2026 Notes and, together with the 2025 Series A Notes and the 2025 Series B Notes, the Notes ). The Offer is being made in accordance with the terms and subject to

the conditions set forth in the Offer to Purchase, dated April 28, 2022 (the Offer to Purchase ) and the related Notice of Guaranteed Delivery.

The final deadline for holders to tender Notes to be eligible to receive the applicable Consideration (as defined below) is 5:00 p.m., New York City time, on

May 5, 2022, unless extended with respect to any or all series of Notes (the Expiration Time ). Holders of Notes validly tendered and not validly withdrawn at or before the Expiration Time and accepted for purchase will

receive the Consideration for such Notes. Tendered Notes may be withdrawn at any time at or before 5:00 p.m., New York City time, on May 5, 2022, unless extended with respect to any or all series of Notes (such date and time, as the same may be

extended, the Withdrawal Deadline ), but not thereafter. Subject to applicable law, the Company expressly reserves the right to terminate, in its sole discretion, the Offer at any time at or before the Expiration Time.

Holders who tender their Notes pursuant to the Guaranteed Delivery Procedures set out in the Offer to Purchase must ensure that the Eligible Guarantor

Institution (as defined in the Offer to Purchase) will procure that DTC properly transmits an Agent s Message (as defined in the Offer to Purchase) (together with the related book-entry delivery of the relevant Notes and any other documents

required) to the Tender and Information Agent by no later than 5:00 p.m., New York City time) on May 9, 2022, the second business day after the date of the Expiration Time (the Guaranteed Delivery Deadline ).

The applicable Consideration for Notes accepted for purchase pursuant to the Offer has been determined as described in the Offer to

Purchase in a manner intended to result in a yield to maturity, with reference to the Settlement Date (as defined below), equal to the sum of the applicable fixed spread specified in the table below (the Fixed Spread ) for such

Notes and the yield based on the bid-side price of the applicable U.S. Treasury Security specified in the table below (the Reference Yield ) for such Notes. The Reference Yield for each

series of Notes was determined at 10:00 a.m., New York City time, today, May 5, 2022 (the Price Determination Time ). In addition to the applicable Consideration, holders of Notes validly tendered and not validly withdrawn at

or before the Expiration Time and accepted for purchase will also be paid accrued and unpaid interest from the last interest payment date for such Notes to, but not including, the Settlement Date (as defined below) ( Accrued

The applicable Consideration and Accrued Interest will be paid on the settlement date (the Settlement Date ),

which is expected to be May 10, 2022. The Company s obligations to accept for purchase, and to pay for, Notes validly tendered and not validly withdrawn pursuant to the Offer is subject to, and conditioned upon, the satisfaction of or,

where available, the Company s waiver of, the conditions set forth in the Offer to Purchase, including the successful completion (in the sole discretion of the Company) of the New Euro Notes Issuance (the Financing

Condition ). See The Offer Conditions to the Offer Financing Condition in the Offer to Purchase for further details.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN,

ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL

The table below sets forth the Reference Yield, Fixed Spread and the applicable Consideration for each series

This release is qualified in its entirety by the Offer to Purchase and the related Notice of Guaranteed Delivery.

The Company has retained BofA Securities Europe SA and Mizuho Securities USA LLC as Dealer Managers in connection with the Offer. Kroll Issuer Services

Limited is the Tender and Information Agent (the Tender and Information Agent ). For additional information regarding the terms of the Offer, please contact: BofA Securities by telephone at +1 (980)

387-3907 (US), +1 (888) 292-0070 (U.S. Toll Free) or +33 1 877 01057 (Europe) or by email at DG.LM-EMEA@bofa.com or Mizuho

Securities by telephone at +1 212 205-7736 (Collect), +1 866 271-7403 (U.S. Toll Free) or +44 20 7090 6134 (In London) or by email at

LiabilityManagement@uk.mizuho-sc.com.

Any questions or requests for assistance or for additional copies of the

Offer to Purchase or the Notice of Guaranteed Delivery and any amendments or supplements to the foregoing may be directed to the Tender and Information Agent by telephone at +44 20 7704 0880 or by email at philips@is.kroll.com, or to any of the

Dealer Managers at their respective telephone numbers or email addresses above. These documents regarding the Offer are also available at https://deals.is.kroll.com/philips.

For further information, please contact:

Philips Global Press Office

Tel.: +31 6 1521 3446

E-mail: ben.zwirs@philips.com

Philips Investor Relations

Tel.: +31 20 5977055

E-mail: derya.guzel@philips.com

Royal Philips (NYSE: PHG, AEX: PHIA)

is a leading health technology company focused on improving people s health and well-being, 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 generated 2021 sales of EUR 17.2 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at

www.philips.com/newscenter.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN,

ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL

Forward-Looking Statements

This release contains certain forward-looking statements with respect to the Company. Forward-looking statements can be identified generally as

those containing words such as anticipates , assumes , believes , estimates , expects , should , will , will likely result , forecast ,

outlook , projects , may or similar expressions. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events that depend on circumstances that will occur in the future.

There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: the Company s ability to

gain leadership in health informatics in response to developments in the health technology industry; the Company s ability to transform its business model to health technology solutions and services; macroeconomic and geopolitical changes; the

Company s integration of acquisitions and their delivery on business plans and value creation expectations; securing and maintaining the Company s intellectual property rights, and unauthorized use of third-party intellectual property

rights; ability to meet expectations with respect to ESG-related matters; failure of products and services to meet quality or security standards, adversely affecting patient safety and customer operations;

breach of cybersecurity; ability to execute and deliver on programs on business transformation and IT system changes and continuity; the effectiveness of the Company s supply chain; attracting and retaining personnel; COVID-19 and other pandemics; challenges to drive operational excellence and speed in bringing innovations to market; compliance with regulations and standards including quality, product safety and (cyber) security;

compliance with business conduct rules and regulations; treasury and financing risks; tax risks; and reliability of internal controls, financial reporting and management process. As a result, the Company s actual future results may differ

materially from the plans, goals and expectations set forth in such forward-looking statements. In view of such uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to

publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. See 9.2 Risk factors in the Company s Annual Report on Form 20-F for the year ended December 31, 2021 for a discussion of certain risks relating to the business of the Company.

Important Information

This release shall not constitute

an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. The distribution of the Offer

to Purchase in certain jurisdictions may be restricted by law. Persons who come into possession of the Offer to Purchase or any related documents are required by each of the Company, the Dealer Managers and the Tender and Information Agent to inform

themselves about and to observe any such restrictions.

The Offer to Purchase and the related Notice of Guaranteed Delivery contain important information

that holders are urged to read carefully before making any decision with respect to the Offer. None of the Company, its statutory board, executive committee or supervisory board, the Tender and Information Agent, any of the Dealer Managers or any

trustee for the Notes is making any recommendation as to whether holders should tender all or any portion of their Notes in response to the Offer. Holders must make their own decisions as to whether to tender, or refrain from tendering, their Notes,

and the principal amount of Notes to tender, if any. Holders should consult their tax, accounting, financial and legal advisers regarding the tax, accounting, financial and legal consequences of participating or refraining from participating in the

The communication of the Offer to Purchase and any other documents or materials relating to the Offer is not being made, and such documents and/or materials

have not been approved, by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended. Accordingly, the Offer to Purchase and such documents and/or materials are not being distributed to, and must

not be passed on to, the general public in the

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN,

ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL

United Kingdom. The communication of the Offer to Purchase and such documents and/or materials as a financial promotion is only being directed at and made to (i) those persons in the United

Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the Financial Promotion

Order )), (ii) those persons who are existing members or creditors of the Company and other persons falling within Article 43(2) of the Financial Promotion Order, (iii) persons who are outside the United Kingdom and (iv) any other

persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as relevant persons ). Any person in the United Kingdom who is not a relevant person should not act or rely on the Offer to

Purchase or such documents and/or materials or any of their content. Any investment or investment activity to which the Offer to Purchase or such other documents or materials relate is available only to and will be engaged in only with relevant

Neither the Offer to Purchase nor

any other documents or materials relating to the Offer have been submitted to or will be submitted for approval or recognition to the Financial Services and Markets Authority (Autorit des services et march s financiers/Autoriteit

voor financi le diensten en markten) and, accordingly, the Offer may not be made in Belgium by way of a public offering, as defined in Articles 3 and 6 of the Belgian Law of April 1, 2007 on public takeover bids as amended or replaced

from time to time. Accordingly, the Offer may not be advertised and the Offer will not be extended, and neither the Offer to Purchase nor any other documents or materials relating to the Offer (including any memorandum, information circular,

brochure or any similar documents) has been or shall be distributed or made available, directly or indirectly, to any person in Belgium other than a qualified investor (investisseur qualifi /gekwalificeerde belegger)

as defined in Article 10 of the Belgian Law of June 16, 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets, acting for its own account. The Offer to Purchase has been

issued only for the personal use of the above qualified investors and exclusively for the purpose of the Offer. Accordingly, the information contained in the Offer to Purchase may not be used for any other purpose or disclosed to any other person in

The Offer is not being made,

directly or indirectly, to the public in France. Neither the Offer to Purchase nor any other documents or offering materials relating to the Offer, has been or shall be distributed to the public in France and only (i) providers of investment

services relating to portfolio management for the account of third parties (personnes fournissant le service d investissement de gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs

qualifi s), other than individuals, acting for their own account, all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1, D.744-1, D.754-1 and D.764-1 of the French Code mon taire et financier,

are eligible to participate in the Offer. The Offer to Purchase has not been and will not be submitted for clearance procedures (visa) of the Autorit des march s financiers.

None of the Offer, the Offer to Purchase or any

other documents or materials relating to the Offer has been or will be submitted to the clearance procedure of the Commissione Nazionale per le Societ e la Borsa ( CONSOB ), pursuant to applicable Italian laws and

The Offer is being carried out in Italy as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of February 24, 1998, as amended (the Financial Services Act ) and article 35-bis, paragraph 4 of CONSOB

Regulation No. 11971 of May 14, 1999, as amended (the CONSOB Regulation ). The Offer is also being carried out in compliance with article 35-bis, paragraph 7 of the CONSOB

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN,

ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL