NVE CORP NEW

Our Board is committed to a robust board evaluation process. The evaluation process focuses on the Board’s effectiveness in carrying out its responsibilities including strategy, governance, and risk oversight. The Board conducted a self-evaluation in May 2024, and will conduct such evaluations annually. The self-evaluation considers the individual directors’ contributions to the Board and their performance on committees including committee responsibilities as defined in committee charters. The evaluation also covers board composition and informs the Board Skills in the matrix included in this proxy statement under Proposal 1. A self-evaluation survey and data aggregation is managed independently of the Board to encourage candid feedback. The recent evaluation identified a need for a director with engineering expertise following Mr. Kramp’s death, and also identified a gap in board diversity. We believe Dr. Wei fills both gaps.

Board Refreshment