On March 31, 2022, the Board of Directors of Arteris, Inc. upon the recommendation of the Nominating and Corporate Governance Committee approved an increase in the number of authorized directors on the Board from seven to eight and appointed Claudia Fan Munce to the Board to fill the vacancy resulting from the increase in the number of authorized directors, with Ms. Munce being appointed to the Board effective May 1, 2022. Ms. Munce was appointed as a Class III director and as a member of the NCG Committee. Ms. Munce's term as director will expire at the 2024 annual meeting of stockholders or until her successor is elected and qualified or her earlier death, resignation, disqualification, retirement or removal.

Ms. Munce has served as a Venture Advisor at New Enterprise Associates, one of the larger venture capital firms, since January 2016. Previously, she served as a Managing Director of IBM Venture Capital Group and Vice President of Corporate Strategy at IBM Corp. from 2004 to 2015.

On April 4, 2022, Christian Claussen delivered notice of his intention to not stand for reelection to the Board at the Company's upcoming annual meeting of shareholders, which is currently scheduled for June 14, 2022.