BOE Technology Group and Universal Display Corporation Enter into Long-Term OLED Agreements

December 7, 2017

EWING, N.J.–(BUSINESS WIRE)–$OLED #OLED—Universal
Display Corporation (Nasdaq: OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED®technology and materials, today announced the signing of long-term
OLED Agreements with BOE
Technology Group Co., Ltd. (京东方), a global leader in semiconductor
display industry as well as an IoT company providing intelligent
interface products and professional services for information interaction
and human health.

Under the agreements, UDC will supply phosphorescent OLED materials to
BOE Technology for use in its products through its wholly-owned
subsidiary UDC Ireland Limited, together propelling the development of
the OLED industry.

“We are extremely pleased to extend our strong partnership with BOE
Technology, and enter into these long-term agreements,” said Steven V.
Abramson, President and Chief Executive Officer of Universal Display.
“BOE has paved extraordinary paths in the display market, fortified its
position as a leading global manufacturer and propelled China to be a
major force in the display landscape. Continuing to stretch the
frontiers of the extraordinarily dynamic display industry, BOE recently
commenced mass production of China’s first Gen 6 flexible AMOLED
production line in Chengdu and its other Gen 6 flexible AMOLED line in
Mianyang is slated for production in 2019. As a key enabler of
highly-efficient, cost-effective and proprietary phosphorescent OLED
technology and material solutions, we look forward to further
strengthening our innovative collaborations with BOE.”

About BOE Technology Group Co., Ltd. (京东方)

Founded in Beijing, April 1993, BOE Technology Group Co., Ltd. is a
world leader in semiconductor display industry, as well as an IoT
company providing intelligent interface products and professional
services for information interaction and human health. BOE’s three core
businesses are Display and Sensor Devices, Smart Systems and Healthcare
Services. BOE’s display products are widely used in a broad spectrum of
applications such as mobile phone, tablet, notebook, monitor, TV,
vehicle display, digital information display, healthcare, finance and
wearable devices. According to the market data as of 2017 Q3, BOE’s
global market share of TFT-LCD panels for mobile phone, tablet and
notebook rank No.1, panels for monitor and TV rank No.2. Smart Systems
provide IoT integrated solutions for various industries such as new
retail, transportation, finance, education, art, medical care, etc.
Healthcare Services combine medicine and life science, and is committed
to developing mobile healthcare, digital hospitals, regenerative
medicine and integrating BOE healthcare park resources.

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. Founded in 1994, the Company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
4,500 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 solid-state
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.

Universal Display Corporation and the Universal Display Corporation 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, the Company’s expected
results, 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, 2016.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.