Philips Domestic Appliances becomes Versuni

New company name inspired by the company's mission to turn houses into homes

AMSTERDAM,March 1,2023 --Today,Philips Domestic Appliances has announced the change of its company name to Versuni. The new name is the next step after the Domestic Appliances business became independent in September 2021. Although the visual identity of the company is changing,its mission to turn houses into homes remains constant. As a licensee of Royal Philips,the company will continue to use the Philips consumer brand,as well as Saeco,Gaggia and Philips Walita,on its products and services. Consumers can also continue to use products of its other brands: Preethi,L'OR Barista and Senseo.

CEO Henk S. de Jong presents the new company name Versuni and its visual identity to all employees worldwide.

"Versuni begins a new chapter after we moved forward as a standalone company",said Henk S. de Jong,CEO of Versuni. "We are committed to delivering the best possible solutions for our consumers and customers and will continue to excite with innovations that make life at home better,easier and healthier. And as we continue our journey as Versuni,expanding on our market leadership and exploring new opportunities,we are privileged to help consumers turn houses into homes."

About the new company name

Philips Domestic Appliances has a simple,powerful and consistent mission: turning houses into homes. This will continue to be the mission of Versuni. It is this mission that has been the inspiration for the new company name,a name based on two words that reflect the meaning of home to many people. Versuni puts a new spin on the powerful word – UNIVERSE. The company believes that home is about having a place that you can truly call your own. Versuni also speaks to the word UNIVERSAL. Because no matter where you live,we all have a need for home.

Starting a new chapter

The new company name is an important next step after the disentanglement from Royal Philips in September 2021 and the sale to Hillhouse Capital,a global investment firm focused on helping companies achieve long-term sustainable growth through digital innovation and enablement. The new company name will be implemented worldwide throughout 2023 and supported with a new and distinct company visual identity.

Versuni will encompass passionate teams that are proud to discover,design,and deliver premium products that foster the feeling of home. Products that adhere to EcoDesign requirements and reflect the company's commitment to sustainability,focusing on three main aspects: the circular economy,climate action,and underserved households.

Product Innovation

Versuni,which is headquartered in the Netherlands,is active in more than 100 countries,and has a global innovation,manufacturing,and commercial footprint. With more than 900 patents on its name,the company's portfolio spans kitchen appliances,coffee,climate care,garment and floor care.

The company has launched a wealth of successful household products that meet the changing needs of the consumer and deliver best in class innovation. These include the Philips PerfectCare Elite Steam Generator which has enabled consumers to iron at twice the speed,the Philips Air Purifier to breath cleaner air at home,the Philips SpeedPro Max Vacuum Cleaner which incorporates revolutionary wet and dry cleaning,and the Philips Fully Automatic Espresso Machine with LatteGo,the Saeco Xelsis Suprema and L'Or Barista and Senseo® to enjoy different types of coffee every day.

As Philips Domestic Appliances,the company also brought the Airfryer category to market and successfully rolled-out innovations such as the Philips Air Cooker 7000 Series,delivering great taste and nutrition via a connected app,and the Philips AquaTrio Cordless Wet & Dry Vacuum 9000 Series that cleans any floor type and mops your hard floors as it vacuums.

Learn more about Versuni and visit: www.versuni.com

About Versuni

Versuni's mission is turning houses into homes. The company believes that home is more than a house. With more than 900 patents on its name,Versuni's portfolio spans kitchen appliances,climate,garment,and floor care. Products under the Philips brand include the Philips Airfryer,Espresso Machine with LatteGo,PerfectCare Steam Generator,Air Purifier and AquaTrio Cordless Vacuum. Their other brands are: Saeco,Gaggia,Preethi,Philips Walita,L'OR Barista and Senseo. Versuni is headquartered in Amsterdam,the Netherlands,and has innovation, manufacturing, and commercial centers across the globe,with a footprint in over 100 countries. Its successful product ranges adhere to EcoDesign requirements and reflect the company's commitment to sustainability best practices. Versuni is a former business division of Royal Philips and was formerly known as Philips Domestic Appliances.