Universal Display Corporation Holds 2017 Annual Meeting of Shareholders

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 held its 2017 Annual Meeting of
Shareholders.

“2016 was a meaningful year of ‘building’ – for the OLED industry and
for Universal Display Corporation. The growing breadth of bright,
beautiful, thin OLED products is captivating the consumer market. With a
flourishing pipeline of new OLED market applications, new OLED end-users
and new OLED consumer adoptees, leading panel makers announced
multi-billion dollar investment plans and commenced new capacity builds
for the next wave of high-volume OLED display production,” said Steven
V. Abramson, Universal Display’s President and Chief Executive Officer.
“This past year was also filled with a number of accomplishments and
events that build and reinforce Universal Display’s leadership position
in the OLED ecosystem. These included new agreements in China, the
introduction and shipment of next-generation emitters, bolstering our IP
portfolio with new inventions and patents from our amazing R&D teams,
and hitting new milestones in our R&D programs. Additionally, we
invested $130 million in acquiring both Adesis, Inc., an organic
synthesis contract research organization (CRO), and BASF’s OLED IP
portfolio. We also embarked on a $15 million manufacturing expansion
phase with our partner PPG Industries.”

Abramson continued, “Across the Company, we are building momentum for
continued profitable growth. We are expanding our customer
collaborations, significantly stepping up our R&D efforts, increasing
our technical field capabilities, and fortifying our product development
engine. We continue to make great strides in broadening the scope and
depth of our phosphorescent technology and materials portfolios,
including new red, green, yellow and blue PHOLED emitters and host
materials. We are also advancing our next-generation manufacturing
technologies, such as organic vapor jet printing. We believe that these
and our other strategic initiatives have created significant competitive
advantages that translate to strong market leadership, and will support
and strengthen our primary focus of enabling our customers’ successes,
and therefore, our long-term success.”

During the annual meeting, shareholders voted on the four proposals
described in the Company’s most recent Proxy Statement. The shareholders
re-elected all eight nominees for the Company’s Board of Directors,
approved a non-binding, advisory resolution on compensation of the
Company’s named executive officers, selected one year as the frequency
for the Company to hold future advisory shareholder votes on
compensation of the Company’s named executive officers, and ratified the
appointment of KPMG LLP as the Company’s independent registered public
accounting firm for 2017. Leonard Becker, who has served as a member of
the Board of Directors since 2001, stepped down from the Board following
the completion of his term at the Annual Meeting.

Sherwin I. Seligsohn, Universal Display’s Founder and Chairman of the
Board of Directors, commented, “On behalf of the Board and management
team, I would like to thank Leonard for his 15+ years of service to the
Company. We are grateful for his insight and unwavering support as we’ve
migrated from a small R&D company in Ewing, NJ, to a global leader in
the OLED industry. We wish him all the best.”

The audio portion of the presentation was simultaneously broadcasted
over the Internet. An online archive of the webcast will be available on
the events
page of the Company’s Investor Relations website at ir.oled.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. Founded in 1994, the Company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
4,200 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 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.

Headquartered in Ewing, New Jersey, with international offices in China,
Hong Kong, Ireland, Japan, South Korea, and Taiwan, and wholly-owned
subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display
works and partners with a network of world-class organizations,
including Princeton University, the University of Southern California,
the University of Michigan, and PPG Industries, Inc. The Company has
also established relationships with companies such as AU Optronics
Corporation, BOE Technology, DuPont Displays, Inc., Innolux Corporation,
Japan Display Inc., Kaneka Corporation, Konica Minolta Technology
Center, Inc., LG Display Co., Ltd., Lumiotec, Inc., OLEDWorks LLC,
OSRAM, Pioneer Corporation, Samsung Display Co., Ltd., Sumitomo Chemical
Company, Ltd., Tianma Micro-electronics and Tohoku Pioneer Corporation.
To learn more about Universal Display Corporation, please visit http://www.oled.com.

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.

Follow Universal Display Corporation

Twitter
Facebook
YouTube

(OLED-C)

Contacts

Universal Display Corporation
Darice Liu, 609-671-0980 x570
[email protected]
[email protected]