Royal Philips : Periodic update on transaction details related to Philips’ share repurchases and covering of additional LTI obligations

Amsterdam, the Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA) today reported that in the period from November 2, 2018 up to and including November 7, 2018 a total of 1,702,600 of its own common shares were repurchased, with a weighted average purchase price of EUR 33.78. These repurchases were made under the repurchase program to cover long-term incentive and employee share purchase plans, which was announced on October 22, 2018. Further details can be found via this link [1].

Philips intends to extend this share repurchase program to cover obligations arising from its long-term incentive and employee share purchase plans with the purchase of an additional up to 10 million shares. To this end, Philips intends to enter into forward transactions with several financial institutions to be settled at future dates over the course of the program until 2022. The transactions will be entered into in accordance with the Market Abuse Regulation and within the limits of the authorization granted by the company's General Meeting of Shareholders on May 3, 2018. Based on the market closing price on Euronext Amsterdam on November 9, 2018, the transactions represent an amount of up to EUR 336 million. Philips will provide further details on its website, which can then be found via this link as well.

[1] Details of Philips' current EUR 1.5 billion share buyback program for capital reduction purposes, which was initiated in the third quarter of 2017, can be found via the same link.