On July 23, 2023, the Board of PTC Inc. appointed Mr. Barua to the Board of Directors of the Company, effective as of July 27, 2023. As an employee of PTC, Mr. Barua will not serve on any Board committees and will not receive any compensation for his service as a director. On July 23, 2023, the Board also appointed James Heppelmann, PTC?s Chief Executive Officer, as Chairman of the Board, effective as of July 27, 2023.

As an employee of PTC, Mr. Heppelmann does not receive any compensation for his service as a director. On July 23, 2023, the Board also appointed Janice Chaffin, an independent director of the Company, as Lead Independent Director of the Board, effective as of July 27, 2023.