Adesis, Inc. Holds Expansion Ceremony to Celebrate Investment and Manufacturing Growth in Delaware

March 5, 2018

NEW CASTLE, Del.–(BUSINESS WIRE)–$OLED #JohnCarneyDE—Adesis,
Inc., a wholly-owned subsidiary of Universal
Display Corporation (Nasdaq: OLED), held an expansion ceremony on
March 2, 2018 at its New Castle facility. The Company, along with its
Universal Display associates, hosted state and local officials including
Governor John Carney, Senator Tom Carper, the Delaware Prosperity
Partnership, and other members of the community to celebrate the
groundbreaking of its new state-of-the-art laboratories.

Construction is slated for completion in the third quarter of 2018. The
expansion will add approximately 6,000 square-feet of new, leading-edge,
chemistry laboratories. In December 2017, Adesis announced the first of
two expansions that the Company plans in Wilmington, New Castle County.
Working closely with Delaware government leadership and the local
scientific community, Adesis partnered with Delaware Innovation Space
(DISI) in the first phase to expand its organic chemistry team and R&D
programs with approximately 7,000 square feet of laboratory space. These
expansion plans further Adesis’ commitment to economic investment and
high-tech job creation in Delaware. The additional research and
manufacturing investment in New Castle and Wilmington is expected to
bring an additional 60-plus new jobs to the Delaware community.

“Adesis has a track record of innovation, and the Company’s continued
investment in Delaware will bring new jobs and economic activity to our
state,” said Governor Carney. “The presence of Adesis at the Delaware
Innovation Space will help us cultivate talent, and support new
technology-based businesses. Delaware remains a great place for
companies to put down roots, and grow, and we’re proud to help celebrate
this expansion.”

“The commencement of our 2nd expansion phase marks the next
wave of growth for Adesis,” said Andrew Cottone, Ph.D., President of
Adesis, Inc. “We believe that this expansion will scale up Adesis’
operations and enhance our agility and versatility with process
research. It will also enable us to bolster our portfolio of discovery,
development, and commercialization services, broaden our core
competencies in specialty manufacturing, and position Adesis to be a
global leader in specialty chemical manufacturing for the foreseeable
future. Adesis’ expansion plans underscore our commitment to growth and
excellence for our employees, customers, partners, and our Delaware
community.”

“Small businesses are the most important driver of our economy, and I am
always thinking of ways to help create a nurturing environment for job
creation and job preservation,” said Senator Carper. “The expansion of
Adesis is a great example of the kind of businesses we should be doing
everything to support – it provides good-paying jobs in a field that is
on the move.”

The expansion is supported with a grant of approximately $450,000
through the Delaware Strategic Fund. The Delaware Prosperity Partnership
(DPP) was integral in assisting Adesis through the grant process. The
DPP is a public-private partnership that leverages private sector
resources to enhance business recruitment, promote entrepreneurship and
innovation, support workforce development efforts, and produce forward
looking-analyses on economic trends to best position Delaware’s economy
to grow.

“This has been an exciting first project for the DPP. The expansion of
Adesis is in part made possible by the broad support the Company has
received from both public and private sector, which is a reflection of
why the DPP was established,” said John Riley, Interim CEO of the DPP.

About Adesis, Inc.

As a wholly-owned subsidiary of Universal
Display Corporation, Adesis, Inc. is a contract research
organization (CRO) supporting the pharma, biotech, catalysis and a
number of other industries. The CRO specializes in organic and
organometallic synthesis, in milligrams to multi-kilogram quantities.
Adesis has a business model of providing clients with organic chemistry
services in three areas: early stage research, scale up and development,
and specialty manufacturing. With over 20 years of success and
approximately 60 chemists with extensive industry and professional
experience, Adesis supports companies in various industries with small
molecule organic chemistry expertise. Adesis provides a range of
services that can supplement research and development efforts. It can
also act as a specialty manufacturer to reinforce supply chains and
protect sensitive intellectual property. To learn more about Adesis,
please visit http://adesisinc.com/.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in developing
and delivering state-of-the-art, organic light emitting diode (OLED)
technologies, materials and services to the display and lighting
industries. To learn more about Universal Display Corporation, please
visit http://www.oled.com.

About The Delaware Prosperity Partnership

The Delaware Prosperity Partnership (DPP) was formed in 2017 as a
private entity to lead the state of Delaware's economic development
efforts. Establishment of this private entity was a critical step to
enhance the state's ability to attract, grow and retain companies; to
build a stronger entrepreneurial and innovation ecosystem; and to
support private employers in identifying, recruiting and developing
talent.

This initiative brings together the resources, commitment, and energy of
both public and private sectors and is charged with certain tasks
related to economic development. As Delaware faces a more competitive
environment and intense global competition for businesses, the DPP will
provide the strategic direction for the state’s economic development
activity by tapping private sector expertise and resources to work in
conjunction with the state.

All statements in this document that are not historical, such as
those relating to the Company’s technologies and potential applications
of those technologies, the Company’s expected results and future
declaration of dividends, as well as the growth of the OLED and CRO
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 the Company’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, 2017.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.