Universal Display Extends Sponsored Research Program with Dr. Stephen Forrest, Dr. Mark Thompson

Universal Display Corporation announced that it has signed an agreement extending its sponsored research program with the University of Southern California and the University of Michigan. Under terms of the extension, Universal Display will provide up to approximately $7.5 million for the next four years to support research in the growing field oforganic electronics under the direction of professors Stephen R. Forrest and Mark E. Thompsonat their respective institutions.

The company has funded over $8.8 million in sponsored researchat these institutions and Princeton University since 1994.

Patents derived from the research program will continue to be licensed exclusively to UniversalDisplay. Princeton University will continue to manage the patent portfolio on behalf of all threeuniversities.

Universal Display has a long-standing relationship with both professors Thompson and Forrest,dating back to 1994. Both are recognized as pioneers in the OLED industry, particularly in the area of phosphorescent OLEDs (PHOLED).

Professor Forrest serves as vice president for research and a professor of electrical engineering & computer science, physics, and materials science &
engineering for the University of Michigan. Professor Thompson is professor of chemistry in the College of Letters, Arts and Sciences at the University of Southern California.

“Stephen Forrest and Mark Thompson not only pioneered today’s commercial phosphorescentOLED technology, they are at the forefront of tomorrow’s PHOLED technology includingflexible, transparent and white PHOLED technology for lighting,” said Steven V. Abramson, president and CEO of Universal Display. “Our commercialization ofPHOLED technology based on Professors Forrest and Thompson’s academic research willcontinue to be crucial in driving innovation for the growing organic electronics industry. On behalf of all of us at Universal Display, I’d like to offer both gentlemen our thanks andadmiration for their work over the past 15 years, and for their continued partnership andcommitment to innovation and research.”

“It is exciting to continue to be part of Universal Display, and collaborate with Mark Thompsonas the OLED industry enters such an important stage,” Forrest said. “As energy efficient PHOLED displays become part of the everyday, a new realm of opportunity is alsoopening up for the technology in lighting and flexible applications. I look forward to continuing my partnership with Universal Display and helping shape the burgeoning organic electronics industry.”

“It has been an extremely fulfilling experience working with Universal Display and Steve Forrest over the past 15 years,” saidThompson. “This next phase of research and development will witness not only growth in the current PHOLED display industry, but fantastic new innovations that we only dreamed of in 1994. I am excited to be part of helping make these innovations a reality.”

Past research by Professors Forrest and Thompson has yielded such award-winning OLEDinnovations as the company’s high-efficiency PHOLED phosphorescent OLED technology and materials. In addition, they have pioneered OLED materials and device structures for transparent OLEDs, demonstrated the first small-molecule flexible OLED, and are leading authorities in the field of energy efficient white PHOLED technology.

To date, the company’s relationships with Forrest and Thompson have yielded more than 200 U.S. patents along with numerous foreign counterparts. Their work under the program extension will continue to focus on advances in these areas, while at the same time supporting their cutting- edge organic electronics research.