Universal Display : OLED Investor Presentation

OLED INVESTOR PRESENTATION

Updated: May 2024

Forward-Looking Statements

All statements in this document that are not historical, such as those relating to the projected

adoption, development and advancement of the Company's technologies, and the Company's

expected results and future declaration of dividends, as well as the growth of the OLED market and the Company's opportunities in that market, are forward-looking financial 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, 2023. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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Universal Display Corporation (UDC) Overview

Who We Are

UDC (Nasdaq: OLED) is a leader in the research, development & commercialization of OLED technologies and materials for use in display and solid-state lighting applications.

• Founded in 1994
• Subsidiaries and offices around the world
• Since inception, UDC's innovation strategy has centered on building a strong foundation of best-in-class OLED materials and technologies.

OLED Pioneer Enabling Industry Growth

Leading Global Supplier of Energy- Efficient PHOLED Materials

Innovator with Robust IP Portfolio of 6,000+ Patents Issued and Pending Worldwide*

Key Industry Partner Providing Support with 30-Years of OLED Expertise

*As of April 26, 2024

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UDC: Strong Corporate Citizen

UDC's Energy-Efficient

Phosphorescent Materials

100% UniversalPHOLED® emitters save energy

UDC's emitters do not use conflict minerals

Diverse & Inclusive Workplace

Geographic: from over 25 countries

Gender: 22% female and 78% male1

Cultural diversity

Diverse Board of Directors2

40% female and 60% male2

Named a 2023 Champion of Board

Diversity by The Forum of Executive Women

	Community Outreach			ISO Certifications			Recognitions
	Foster educational STEM initiatives			ISO 9001:2015 (quality)			Newsweek: America's Greenest
									Companies 2024
	Support community organizations			ISO 14001:2015 (environment)
					WSJ: The 250 Best-Managed
	Employee charity matching program			ISO 45001:2018 (health/safety)			Companies 2023
	1As of December 31, 2023 | 2As of March 4, 2024
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UDC's Global Footprint

United States

UDC HQ (NJ)

Adesis, Inc. (DE)

OVJP Corporation (CA)

UDC Ventures LLC (NY)

PPG (PA & OH)

UDC China

UDC Hong Kong

UDC Ireland

OLED Material Manufacturing Ltd (OM2) & PPG

UDC Japan

UDC Korea

UDC Taiwan

As of December 31, 2023

UDC HQ

More Than

450

Employees

Including more than

320

Scientists, engineers and technicians

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UniversalPHOLED® = Energy Efficiency

UDC's patented and award-winning phosphorescent OLED technology and materials are integral to enabling low power consumption in OLED displays and lighting.

Key Benefits of Phosphorescent Emitters

• Enable energy efficiency
• Reduce requirements for heat dissipation components
• Increase lifetime
• Lower product cost

Cornerstone: Phosphorescent OLED (PHOLED) Innovation

Energy Efficiency

100% Light*

Electric	Phosphorescent	0% Wasted Heat
Current	Emitter

With trailblazing energy efficiency:

Up to 4x the efficiency of fluorescent OLED

*100% Internal Quantum Efficiency Baldo et. al., Nature, 395, 151 (1998)

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UniversalPHOLED® Energy Efficiency Innovation

Power (mW)

800

600

400

200

0

2015 2018 2021 2022 2023 2024 RGB (PHOLED)

Red & green PHOLED with fluorescent blue

Smartphone Display Power Consumption

Current performance (2024)

Red & green PHOLED w/ fluorescent blue

~68%	Energy consumption
	compared to 2015

Projected additional performance improvement

Full red, green & blue PHOLED vs. Prior devices containing fluorescent blue

~25% Energy consumption compared to 2024

Based on a 5.0" OLED display operating at 600 cd/m2 with video (50% pixels on). PHOLED data is based on UDC estimates. PHOLED=Phosphorescent

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Phosphorescent OLED Carbon Savings

Calculated assumptions

There are at least 1.8 billion active OLED smartphones using UDC's PHOLED materials and technology in the world today and, assuming:

Average use is 4 hours per day

Average luminance at 600 nits with 50% pixels on

Power savings is 30% over LCD

Power savings

Power saving per display is 0.46W

Total savings per year is an estimated 1,216 GW-h per year

861,758 Metric tons of carbon dioxide		Equivalent to carbon sequestered by
	14,249,241 tree seedlings
(CO ) equivalent avoided per year1
	1
2		grown for 10 years

1https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

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UDC's Business Model

Innovation &

Invention

Device &

Architecture IP

Composition

of Matter IP

OLED Enabler

Patent Licensing

PHOLED Emitters

& Hosts

Revenues

License &

Royalty Fees

Material Sales

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What Is an OLED?

• An Organic Light Emitting Diode is a series of organic thin films between two conductors
• When electrical current is applied, bright light is emitted
• OLEDs can be used for displays and lighting
• OLEDs are not just thin and efficient - they can also be made flexible and transparent

UniversalPHOLED®

Materials in Emissive Layer

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