Kopin Announces Multiyear Development Agreement With a Leading Japanese Company for Full-Color LED Microdisplays on Silicon

Kopin^® Corporation (NASDAQ: KOPN), a leading developer and provider of high-resolution AMLCD, LCOS and OLED microdisplays and display subassemblies announced today it has signed a multiyear agreement with a leading Japanese electronics Company that develops and produces advanced consumer products, to develop superbright 2K x 2K full-color Light Emitting Diode (LED) microdisplays on silicon. Under the agreement, Kopin will develop and supply its proprietary backplane silicon wafers and its new partner will develop bonding and color conversion processes. The companies expect to demonstrate 1”-diagonal full-color 2K x 2K LED microdisplays within 24 months. This development program, like Kopin’s previously announced program with Jade Bird Display to develop superbright monochrome LED microdisplays with up to 4 million nits, is customer funded.

LED microdisplays have the potential for superhigh brightness, low power consumption, high contrast and wide viewing angle, which are ideal features for many applications including see-through augmented reality (AR) and mixed reality (MR) applications. However, the LED microdisplay is still in an early stage of development and requires significant new process developments including bonding of LED arrays to Si backplane and color conversion of blue emission to red or green. Kopin was a pioneer in LED microdisplays on Si technology with some of the early patents on the technology (US 5,300,788, 5,453,405, 6,403,985).

“We are very excited to collaborate with our partner who has already achieved some important milestones in color LED microdisplay development,” said Dr. John C. C. Fan, CEO of Kopin Corporation. “We find our areas of expertise to be very complementary in tackling the challenges of developing the 1”-diagonal 2K x 2K full-color LED microdisplays. Super high-resolution full-color LED microdisplays with brightness approaching 100,000 nits can create new and exciting applications for microdisplays and satisfy the demanding requirements of certain AR and MR applications. The LED microdisplays from this collaboration will expand our microdisplay portfolio, making us the world’s only provider of all LCD, LCOS, OLED and LED microdisplays on Si. Our wide portfolio of products allows us to offer customers the best product for a particular application. It is important to stress that we continue to believe OLED microdisplays would be very good for many consumer applications.”

About Kopin

Kopin Corporation is a leading developer of innovative wearable computing technologies and solutions. Kopin’s technology portfolio includes ultra-small displays, optics, high-level module assembly, speech enhancement technology, software, low-power ASICs, and ergonomically designed smart headset concept systems. Kopin’s proprietary components and technology are protected by more than 200 global patents and patents pending. For more information, please visit Kopin’s website at www.kopin.com.

Forward-Looking Statements

Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created by such sections. Words such as "expects," "believes," "can," "will," "estimates," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to: Kopin will develop and supply its proprietary backplane silicon wafers and its partner will develop bonding and color conversion processes; our expectation that the companies will demonstrate full-color 2K x 2K LED microdisplays within 24 months; and Super-high-resolution full-color LED microdisplays with brightness approaching 100,000 nits can create new and exciting applications for microdisplays and satisfy our most demanding customers’ needs; and our belief that with the addition of LED microdisplay products from this collaboration will make Kopin the world’s only provider of the full suite of OLED, LCD, LCOS and LED microdisplays. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 26, 2020, or as updated from time to time in the Company's Securities and Exchange Commission filings.

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