Royal Philips and its US subsidiaries, including Philips Respironics, have reached an agreement to resolve all economic loss claims in the US Multidistrict Litigation related to Philips Respironics' voluntary recall of certain sleep and respiratory care devices. Philips Respironics has recorded a provision of EUR 575 million in Q1 2023 to cover the estimated costs of the final settlement. Payments to class members under the settlement are not expected to begin until Q1 2024.