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OLED INVESTOR PRESENTATION Updated: November 2025
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2 Forward-Looking Statements 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, 2024. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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3 Universal Display Corporation (UDC) Overview Who We Are UDC (Nasdaq: OLED) is a leader in the research, development & commercialization of OLED technologies and materials for use in display and solid-state lighting applications. • Founded in 1994 • Subsidiaries and offices around the world • Since inception, UDC’s innovation strategy has centered on building a strong foundation of best-in-class OLED materials and technologies. OLED Pioneer Enabling Industry Growth Leading Global Supplier of Energy- Efficient PHOLED Materials Innovator with Robust IP Portfolio of 6,500+ Patents Issued and Pending Worldwide* Key Industry Partner Providing Support with 30-Years of OLED Expertise *As of September 30, 2025
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4 As of September 30, 2025 UDC Global Footprint More Than 460 Employees Including 336 Scientists, engineers and technicians United States UDC HQ (NJ) Adesis, Inc. (DE) UDC Ventures LLC (NY) PPG (PA & OH) UDC Ireland OLED Material Manufacturing Ltd (OM2) & PPG UDC China UDC Korea UDC Japan UDC Taiwan UDC Hong Kong UDC HQ Universal Vapor Jet Corporation (UVJC) Singapore
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5 UDC: Strong Corporate Citizen UDC’s Energy-Efficient Phosphorescent Materials 100% UniversalPHOLED® emitters save energy Diverse & Inclusive Workplace Geographic: from over 25 countries Gender: 22% female and 78% male1 Cultural diversity Diverse Board of Directors 45% female and 55% male2 Named a 2025 Champion of Board Diversity by The Forum of Executive Women Foster educational STEM initiatives Support community organizations Employee charity matching program ISO Certifications ISO 9001:2015 (quality) ISO 14001:2015 (environment) ISO 45001:2018 (health/safety) Recognitions Newsweek: America’s Most Responsible Companies 2025 Community Outreach UDC’s emitters do not use conflict minerals 1As of December 31, 2024 | 2As of January 1, 2025 Ecovadis: Silver Sustainability Rating
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6 UDC’s Business Model Composition of Matter IP Device & Architecture IP PHOLED Emitters & Hosts Patent Licensing Material Sales License & Royalty Fees OLED Enabler Revenues Innovation & Invention
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7 Strong, Broad & Deep Patent Portfolio RGB Phosphorescent OLEDs (PHOLEDs) Plasmonic PHOLED AI Machine Learning NIR* PHOLEDs Light Out-Coupling Panel Architectures Device Architectures Dry Printing (UVJP) • We develop and license enabling technologies that are at the heart of consumer OLED products worldwide, from AR/VR, smartwatches, smartphones, IT (tablets, laptops, monitors), automotive and TVs to lighting products. • We believe that our extensive portfolio of patents, trade secrets and know-how enable our leadership position in the OLED ecosystem. • Our R&D innovations allow us to continuously bolster the depth and breadth of our global OLED intellectual property framework, which currently stands at more than 6,500 issued and pending patents worldwide (as of September 30, 2025). *NIR=Near Infrared
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8 What Is an OLED? UniversalPHOLED® Materials in Emissive Layer • An Organic Light Emitting Diode is a series of organic thin films between two conductors • When electrical current is applied, bright light is emitted • OLEDs can be used for displays and lighting • OLEDs are not just thin and efficient - they can also be made flexible and transparent Cathode Anode EIL ETL EML EBL HTL HIL
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9 *100% Internal Quantum Efficiency Baldo et. al., Nature, 395, 151 (1998) UDC’s patented and award-winning phosphorescent OLED technology and materials are integral to enabling low power consumption in OLED displays and lighting. UniversalPHOLED® = Energy Efficiency Phosphorescent OLED (PHOLED) Innovation Energy Efficiency Electric Current Phosphorescent Emitter 100% Light* Wasted Heat0% Key Benefits of Phosphorescent Emitters • Enable energy efficiency • Reduce requirements for heat dissipation components • Increase lifetime • Lower product cost
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10 Based on a 5.0” OLED display operating at 600 cd/m2 with video (50% pixels on). PHOLED data is based on UDC estimates. PHOLED=Phosphorescent UniversalPHOLED® Energy Efficiency Innovation Smartphone Display Power Consumption ~72% Energy consumption compared to 2015 Current performance (2025) Red & green PHOLED w/ fluorescent blue ~25% Energy consumption compared to 2025 Projected additional performance improvement Full red, green & blue PHOLED vs. Prior devices containing fluorescent blue Red & green PHOLED with fluorescent blue
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11 Power saving Phosphorescent OLED Carbon Savings Calculated assumptions There are at least 2 billion active OLED smartphones using UDC’s PHOLED materials and technology in the world today and, assuming: Average use is 4 hours per day Average luminance at 600 nits with 50% pixels on Power savings is 30% over LCD Power savings Power saving per display is 0.46W Total savings per year is an estimated 1,343 GW-h per year 902,295 Metric tons of carbon dioxide (CO2) equivalent avoided per year1 Equivalent to carbon sequestered by 14,919,533 tree seedlings grown for 10 years1 1https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
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12 Unit numbers are for OLED smartphones only Source: Omdia OLED Display Market Tracker – Q2 2025 (October 2025) OLED Display Market PotentialRevenue (in Billions) $0 $10 $20 $30 $40 $50 $60 $70 2024 2025 2026 2027 2028 2029 Mobile TV IT Wearables Other $54.6 $54.5 $57.6 $61.6 $63.6 $66.1 800M 823M 847M 879M 910M 940M
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13 0 4 8 12 16 20 24 28 2024 2025 2026 2027 2028 2029 Mobile TV IT Wearables Other OLED Display Panel DemandSquare Meters (in Millions) 17.8 19.1 20.2 22.2 24.1 25.9 Unit numbers are for OLED TVs only Source: Omdia OLED Display Market Tracker – Q2 2025 (October 2025) 6.8M 7.0M 7.1M 7.6M 7.4M 7.6M
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14 Lower Power Usage • RED Phosphorescence reduces power consumption by 25% • Add GREEN: 45% cumulative reduction • Add BLUE: 75% cumulative reduction • Enabled by PHOLEDs Superior Aesthetics • Improved image quality • Thin and Light • 180 degree viewing angle • Near infinite contrast ratio (true black) • Real-time video speeds (great for 3D) • Self-emissive display • Low UV output • Minimal bezel • Flexible More Cost Effective • Fewer manufacturing process steps • Lower bill-of-materials – No backlight required – No color filter required – No liquid crystal required – Reduced driver IC costs • Enables non-glass substrates Strong OLED Display Market Drivers
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15 OLEDs Across the Consumer Electronics Landscape WearablesAR/VR & Gaming Smartphones AutomotiveIT Tablets, laptops & monitors TVs Foldables & Slideables
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16 Energy-efficient & environmentally friendly • Low drive voltage • Low operating temperatures, cool to touch • Long lifetime • Easy to control Highly desirable color quality • Wide range of CCT, high CRI possible • Color tunable • Instant “ON” , Dimmable without flicker • No glare, no noise • Low UV content Form factor & low- cost potential • Thin and lightweight • Transparent • Non-breakable, Conformable, Flexible, Foldable, Rollable • Scaling advantage • Roll-to-roll process Strong OLED Lighting Market Drivers
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17 OLED Lighting Around the World
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18 UVJP: A Novel Manufacturing Process Platform Technology OLED Displays Automotive TV Monitors Internet of Things Organic PV Batteries Environmental Monitoring Artificial Organs Molecular Medicine Diagnostic Testing Health Monitoring Wearable Electronics AdditiveManufacturing Photonics Life Sciences Organic Photodetectors Signage & Lighting Clean Energy Flexible Substrates Printed Electronics Lab-on-a-Chip Drug Delivery Tissue Culture Myriad Potential Applications Universal Vapor Jet Printing UVJP Supports 4K and 8K resolutions Applies to thermally vaporizable organic molecules • Cost-effective • High throughput • Dry printing • Highly Scalable • Digitally controlled patterning • Precise thickness control • Co-deposition and multilayer printing • Multiple deposition layers in one chamber Benefits: Carrier gas in Heated evaporator OLED or other material vapor out Substrate Nozzle array prints a series of parallel lines on substrate Organic Vapor Jet Printing * Image depicts printing of blue after dry printing red and green using OVJP. *
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19 Strategic Display & Lighting Partnerships SEEYA TECHNOLOGY
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20 Historical Financial Performance $- $100 $200 $300 $400 $500 $600 2020 2021 2022 2023 2024 Royalty & License $185 $219 $267 $238 $267 OLED Materials $230 $319 $331 $322 $365 Contract Research Services $14 $16 $18 $16 $15 $429 $554 $617 $576 $184 $210 $203 $222 2020 2021 2022 2023 2024 $0 $40 $80 $120 $160 $200 $133 Revenue Income ($ in millions) $648
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21 Robust Capital Structure September 30, 2025 Cash, Cash Equivalents, Short-Term and Long-Term Investments* $1,000,358 Total Assets $1,947,451 Long-Term Debt -- A/P and Accrued Liability $77,562 Deferred Revenue $24,848 Shareholders’ Equity $1,744,806 Total Shares Outstanding 47,676,500 *Please refer to our recent 10-Q filing for information regarding minority investments. In thousands, except share data
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22 Company Summary Comprehensive & Robust IP Strong Financials OLED Leader • Inventing, Developing and Commercializing Proprietary Phosphorescent OLED Technologies & Materials to enable Display and Lighting Manufacturers • Fabless Model; Partnering w/ PPG for 25 Years • ∼463 Employees (336 R&D, 151 PhDs); Largest Global PHOLED Team* • $1B Cash, No Debt* • $20.98 in Cash/Share* • High Margin Business • Lean Operating Model Blue-Chip Customer Base • Largest Phosphorescent OLED (PHOLED) Technology & Materials Portfolio • More than 6,500 Issued & Pending Patents Worldwide* and Growing Lighting up the OLED Revolution • Displays: Samsung, LG Display, BOE, Tianma, TCL CSOT, Visionox, JDI • Lighting: Kaneka, Konica Minolta, Lumiotec, OLEDWorks, Sumitomo Chemical • Partnering with more than 25 companies *As of September 30, 2025