Universal Display Corporation (NASDAQ:OLED) (UDC), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, announced today that it received the 2022 Hand in Hand Strategic Partner Award (聚力同行奖) from TCL China Star Optoelectronics Technology (TCL CSOT) (TCL华星光电技术有限公司;简称"TCL华星"), a renowned industry player developing advanced, innovative display technologies. TCL CSOT presented this esteemed honor to UDC during the TCL Global Ecosystem Partner Conference on July 6^th in Wuhan, China.

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"As a strategic partner of TCL CSOT, UDC endeavors to strive for excellence and continuous development of its leading-edge OLED technologies and solutions. With the enterprising spirit to break through technology limits, UDC is continuing to work closely with TCL CSOT for new splendor with its commitment to innovation and pioneering work," said Dongsheng Li, Founder and Chairman of TCL.

"We are appreciative and proud to receive this prestigious award from our partner, TCL CSOT. This accolade celebrates our global team's tireless efforts and outstanding performance, and underscores our unwavering commitment to excellence in collaboration and innovation," said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. "In concert with upholding the highest standards of trust, quality and technological advancement, we are continuously developing groundbreaking solutions and delivering cutting-edge products to support our customers and fuel the OLED industry's long-term growth journey."

About TCL CSOT (TCL China Star Optoelectronics Technology; TCL华星光电技术有限公司)

TCL CSOT (TCL China Star Optoelectronics Technology), established in 2009, is a company committed to developing new technologies and innovations in the display industry. TCL CSOT focuses on promoting the development of next-generation display technologies such as Mini LED, Micro LED, OLED, and ink-jet printing OLED to embrace the future technology trend. The company business includes large area displays, small medium displays, touch modules, interactive whiteboards, video walls, automotive displays, and gaming monitors. In the future, TCL CSOT will keep devoting itself to technology innovation and providing high-end products for customers and building a vibrant display industry ecosystem. To learn more about TCL CSOT, please visit https://www.tclcsot.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 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 6,000 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 energy-efficient 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. 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 the projected adoption, development and advancement of the Company's technologies, and 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, 2022. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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Universal Display Corporation Receives TCL CSOT's Hand in Hand Strategic Partner Award