Philips Supervisory Board Maintains Governance Framework in Updated Exor Agreement

Philips Supervisory Board Maintains Governance Framework in Updated Exor Agreement

(IN BRIEF) Royal Philips and Exor N.V. have updated their long-term relationship agreement, giving Exor the flexibility to increase its shareholding in Philips to up to 22 percent of issued ordinary share capital and voting rights, compared with the previous 20 percent cap. Exor may increase its stake further with approval from the Philips Supervisory Board. The governance arrangements remain unchanged, including Exor’s right to nominate one member of the Philips Supervisory Board. Philips and Exor said the updated agreement reflects Exor’s continued long-term commitment to Philips, support for the company’s strategy and confidence in its 2026–2028 plan focused on innovation, value creation, disciplined execution and profitable growth.

(PRESS RELEASE) AMSTERDAM, 11-Aug-2026 — /EuropaWire/ — Royal Philips and Exor N.V. have announced an update to their long-term relationship agreement, extending and reinforcing the existing relationship between Philips and its largest shareholder.

Under the updated agreement, Exor will have the flexibility to increase its shareholding in Philips to up to 22 percent of the company’s issued ordinary share capital and voting rights.

The previous cap stood at 20 percent.

The agreement also allows Exor to increase its stake further, subject to approval by the Philips Supervisory Board.

The existing governance arrangements remain unchanged.

These include Exor’s right to nominate one member of the Philips Supervisory Board.

Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips, said Exor’s long-term commitment reflects its confidence in Philips and the company’s strategy.

He said the Supervisory Board values Exor’s constructive engagement and recognised the continued contribution of Benoît Ribadeau-Dumas as the Board oversees Philips’ strategic direction.

Roy Jakobs, Chief Executive Officer of Royal Philips, said the updated agreement reflects Exor’s support for Philips and its Board of Management as the company executes its 2026–2028 plan.

He said the agreement underlines the value creation potential of the plan and Philips’ focus on delivering profitable growth.

John Elkann, Chief Executive Officer of Exor, said Exor supports Philips’ long-term strategy, which he described as being defined by innovation, value creation and disciplined execution.

He added that the updated agreement reflects Exor’s continued commitment to Philips as its largest shareholder.

Royal Philips is a global health technology company listed on the New York Stock Exchange and Euronext Amsterdam under the symbols PHG and PHIA.

Through the updated long-term relationship agreement, Philips and Exor are reaffirming a strategic shareholder relationship built around long-term commitment, governance continuity and support for Philips’ next phase of growth.

About Royal Philips

Royal 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 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.

About Exor

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.

Forward-looking statements and other important information

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.

Media Contacts:

Michael Fuchs
Philips Global External Relations
Tel: +31614869261

Dorin Danu
Philips Investor Relations
Tel: +31205977055

SOURCE: Philips