License Agreement: OLED Lighting

Yamagata, Japan and Ewing, New Jersey, January 09, 2012 – Lumiotec Inc., founded by
Mitsubishi Heavy Industries, Ltd., Rohm Co., Ltd., Toppan Printing Co., Ltd., and Mitsui &
Co., Ltd. in 2008 to develop, manufacture and sell OLED lighting panels, and Universal
Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with
its UniversalPHOLED technology and materials, today announced that the companies have
entered into an OLED technology license agreement. Under the new agreement, Lumiotec
will be licensed to integrate Universal Display’s proprietary UniversalPHOLED
phosphorescent and other OLED technologies and materials into OLED lighting products.
“We are pleased to be ready for world’s first mass production of high-efficiency OLED
lighting panels through collaboration with Universal Display,” said Hisao Shigenaga,
President of Lumiotec. “This is a major breakthrough in the OLED lighting industry. We
hope to further strengthen our partnership with Universal Display and have a strong position
as a leading player of the next-generation lighting.”
“We are pleased to enter into this arrangement with Lumiotec, the world’s first company
established to be exclusively dedicated to the manufacture and sale of OLED lighting
panels,” said Steven V. Abramson, President and Chief Executive Officer of Universal
Display. “It is a very positive sign for the emerging OLED lighting industry to have
Lumiotec, with industry-leading founders like Mitsubishi Heavy Industries, Rohm, Toppan
Printing and Mitsui & Co., committed to making and selling high-performance OLED
lighting products. Universal Display looks forward to continuing to work with Lumiotec to
accelerate their efforts in bringing energy-efficient OLED lighting products to the market
using our high-efficiency phosphorescent OLED technology and materials.”
Under the license agreement, Universal Display grants Lumiotec license rights under various
patents and associated know-how owned or controlled by Universal Display for Lumiotec to
manufacture and sell certain OLED products for lighting applications. Lumiotec will pay
Universal Display license fees and running royalties on its sales of these licensed products
under the agreement. The term of the agreement runs through December 31, 2015. Universal
Display separately agreed to sell to Lumiotec certain OLED materials for use by Lumiotec in
manufacturing OLED products as authorized under the agreement.
Combining Lumiotec’s multi-photon emission device technology with UniversalPHOLED
technology and materials, Lumiotec will establish mass production capability of high
luminance, long lifetime, and high-efficiency OLED lighting panels. Lumiotec will start to
deliver in February 2012 mainly 145 x 145 mm square sized, warm white color, and 40 lm/W
OLED lighting sample panels and in April mass production models. Lumiotec also continues
to develop natural white color, high-efficient OLED lighting panels, aiming at the release in
the same year.
OLED lighting has the potential to lower global energy demands and lessen the
environmental impacts associated with lighting. It has been estimated that by 2016, OLEDs
could generate well over $20 billion in worldwide savings of electricity costs and could save
over nine million metric tons of carbon emissions from the U.S. alone. Recent advances in
OLED lighting, including those made by Universal Display, now allow OLEDs to meet a
variety of niche lighting performance targets and to demonstrate the potential for OLEDs to
achieve general lighting targets established by the U.S. Department of Energy. Universal
Display’s phosphorescent OLED technology and materials have demonstrated a four-to-one
power advantage over other OLED technologies, resulting in record energy-efficient OLEDs.
In addition, OLED lighting may enable a range of exciting new product concepts with
innovative form factors, transparency and flexibility.
For more information on Lumiotec, please visit www.lumiotec.com.
For more information on how Universal Display is changing the face of the display and
lighting industries with its UniversalPHOLED®, white OLED and flexible OLED
technologies, please visit the company at www.universaldisplay.com.
About Lumiotec
Lumiotec was jointly established in May 2008 as the world’s first company exclusively
dedicated to organic light emitting device (OLED) lighting panels, with the task of assessing
the panel’s commercial viability. The companies that invested in Lumiotec include
Mitsubishi Heavy Industries, Ltd., ROHM Co., Ltd., Toppan Printing Co., Ltd. and Mitsui &
Co., Ltd. Following the development of a new device structure that enables simultaneous
achievement of high luminance and long lifetime – two features that in the past were
considered performance trade-offs – Lumiotec established a mass-production line of OLED
panels for lighting applications at its facility in Yonezawa City, Yamagata Prefecture.
Thanks to this high-speed, large-scale production system (in-line deposition equipment with
linear evaporation source for large substrates), the materials utilization efficiency has been
significantly enhanced. The company began shipments of its mass-produced OLED lighting
panels in January 2011. To learn more about Lumiotec, please visit www.lumiotec.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: PANL) is a leader in developing and delivering
state-of-the-art, organic light emitting device (OLED) technologies, materials and services to
the display and lighting industries. Founded in 1994, the company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than 1,200 issued and
pending patents worldwide. Universal Display licenses its proprietary technologies,
including its breakthrough high-efficiency UniversalPHOLED phosphorescent OLED
technology, that can enable the development of low power and eco-friendly displays and
white lighting. The company also develops and offers high-quality, state-of-the-art
UniversalPHOLED materials that are recognized as key ingredients in the fabrication of
OLEDs with peak performance. In addition, Universal Display delivers innovative and
customized solutions to its clients and partners through technology transfer, collaborative
technology development and on-site training. To learn more about Universal Display, please
visit www.universaldisplay.com.
Universal Display Corporation and the Universal Display logo are trademarks or registered
trademarks of Universal Display Corporation. All other company, brand or product names
may be trademarks or registered trademarks.
###
All statements in this document that are not historical, such as those relating to Universal Display
Corporation’s technologies and potential applications of those technologies, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place
undue reliance on any forward-looking statements in this document, as they reflect Universal Display
Corporation’s current views with respect to future events and are subject to risks and uncertainties that could
cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in
greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal
Display Corporation’s annual report on Form 10-K for the year ended December 31, 2010 and quarterly report
on Form 10-Q for the quarterly period ended March 31, 2011. Universal Display Corporation disclaims any
obligation to update any forward-looking statement contained in this document