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Universal Display Corporation and EMT Announce Strategic OLED Host Partnership

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Universal Display Corporation (NASDAQ:OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and Eternal Material Technology Company (EMT), ISO certified Chinese OLED materials supplier, today announced a strategic OLED host partnership. The two companies have been working together to commercialize OLED host materials. With this partnership, Universal Display (UDC) leads the R&D discovery and development work on red, green and yellow host materials to best complement its phosphorescent emitters. EMT will be a volume manufacturer and vendor of these host materials to certain Chinese panel manufacturers. Financial terms of the partnership agreement were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190821005681/en/

"Our collaboration with UDC is advantageous for the OLED industry, and we are pleased at the robust partnership formed by our two companies," said Ren Xueyan, General Manager of Eternal Material Technology. "With the forecast of continued OLED investment and new production lines in China, we believe that this partnership will help meet the increasing material requirements of our customers. We are excited for the future of OLEDs and our developing position in it."

"We are pleased to announce our partnership with EMT and are energized by the great opportunities we can share in," said Steven V. Abramson, President and Chief Executive Officer of Universal Display. "Our teams are working closely with customers as they map out their product offerings for the coming years. We are continuing to invent new and next-generation phosphorescent emitters and hosts, and believe that this cooperation with EMT will enable greater access to the best OLED emissive solutions in the expanding Chinese market."

About EMT

Eternal Material Technology Company (EMT) is a high-tech enterprise which focuses on the research and development, production, sales and technical service of new electronic materials, the materials are mainly engaged in the fields of flat panel display and photoelectric. EMT is a leader of OLED materials in China and is the first Chinese OLED materials company of mass production and sale of OLED material technique and product quality. As of May 1st, 2019, EMT has applied for 350 patents. Beijing EMT, the corporate HQ and R&D center, was founded in 2013. In April 2014, wholly-owned subsidiary Gu'an EMT was founded in Gu'an new industry demonstrate park. In March 2018, wholly-owned subsidiary Hefei EMT was founded, with the purpose of being a mass production base, which will commence production in 2021. The OLED material capacity of Hefei EMT will be about 15 tons.

Obedience to the business philosophy "Quality is the life of the company, custom is the value of the company", EMT set up a whole quality control system within production, supplier and sale, so that it is in strict quality control of every part of production. In September 2018, Gu'an EMT gained the certification of ISO9001:2015, ISO14001:2015, and OHSAS18001:2007.

EMT is the primary OLED material supplier in China. To learn more about Eternal Material Technology Company, please visit http://www.eternalmt.com/.

About Universal Display Corporation

Universal Display Corporation (NASDAQ:OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending 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. To learn more about Universal Display Corporation, please visit https://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 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, 2018. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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