Xperi Director Who Served with Dissident Nominee Tom Lacey Encourages Xperi Stockholders to Vote for All of the Board’s Candidates at the 2024 Annual Meeting - Seite 2

At that point, our business transformation began and would require a long period of hard work. The task was to build a durable media and entertainment product business focused on software licensing and services. DTS was inherently a more complex business with hundreds of customers and operations around the globe. With the unanimous consent of the Board, Tom left the Company, and we appointed Jon Kirchner as CEO (the role he retains to this day) to lead the business through the difficult parts of the Company’s transformation. Since then, we merged with TiVo and then separated our business into two public companies. Along the way, we added talented new directors, like Darcy and Dave, who could contribute their expertise in software development, advanced entertainment technologies and services, monetization, and other key areas.

We have focused Xperi now around four key business areas, all with entertainment and “experiences” at their core. We initiated a formal process to evaluate strategic alternatives for our remaining non-core business, our edge artificial intelligence business, to ensure we remain tightly focused on our main businesses. Importantly, we have worked for years to put ourselves in the position where we focus exclusively on what we do best, providing leading software and technology that enable immersive experiences. We believe we are turning the corner on our transformation.

Our Board is comprised of people, including Darcy and Dave, who can help. Darcy is an award-winning technologist with expertise (and several patents) in digital media and monetization of media content. She was the Chief Technology Officer for Warner Bros. Entertainment and the CEO of Vubiquity, where she focused on digital delivery and monetization of media content. Dave has served as CEO of several public technology companies and on the boards of more than a dozen public and private technology leaders, including in the entertainment technology and automotive technology subsectors. He is the Chair of our Board and also the Chair of Reddit’s Board. He has served on the compensation committees of nine public companies.

Tom and his fellow nominee and longstanding colleague, Deborah Conrad, are no substitute for these two. Tom’s expertise is primarily in semiconductors and IP licensing; Deborah’s expertise is in brand marketing and public relations. Both Tom and Deborah would have a steep learning curve – it was clear from their own admissions during my conversation with each of them that they do not know the Xperi businesses. Neither of them has operated in the media or automative industry, and neither has run a business of this scope and complexity.