Corporate offiCes Princeton Crossroads Corporate Center 375 Phillips Boulevard Ewing, NJ 08618 609.671.0980 [p] 609.671.0995 [f] www.universaldisplay.com asian operations ContaCt Dr. Sui-Yuan Lynn Director of Asian Operations 886.928.108.212 Corporate Counsel Morgan, Lewis & Bockius LLP 1701 Market Street Philadelphia, PA 19103 intelleCtual property Counsel Kenyon & Kenyon LLP One Broadway New York, NY 10004 independent registered publiC Accountant KPMG LLP 1601 Market Street Philadelphia, PA 19103 transfer agent & registrar American Stock Transfer & Trust Company, LLC 6201 15th Avenue Brooklyn, NY 11219 universal display corporation As the world leader in the 2011 annual report development of energy-efficient OLED technologies and materials, Universal Display Corporation enjoyed significant growth and achievement. Corporate offiCes Princeton Crossroads Corporate Center 375 Phillips Boulevard Ewing, NJ 08618 609.671.0980 [p] 609.671.0995 [f] www.universaldisplay.com asian operations ContaCt Dr. Sui-Yuan Lynn Director of Asian Operations 886.928.108.212 Corporate Counsel Morgan, Lewis & Bockius LLP 1701 Market Street Philadelphia, PA 19103 intelleCtual property Counsel Kenyon & Kenyon LLP One Broadway New York, NY 10004 independent registered publiC Accountant KPMG LLP 1601 Market Street Philadelphia, PA 19103 transfer agent & registrar American Stock Transfer & Trust Company, LLC 6201 15th Avenue Brooklyn, NY 11219 universal display corporation As the world leader in the 2011 annual report development of energy-efficient OLED technologies and materials, Universal Display Corporation enjoyed significant growth and achievement. seleCted finanCial data to our shareholders board of directors partnerships and alliances 2011 proved to be a major milestone year for Universal Display We demonstrated white OLED panels using our UniversalPHOLED sherwin i. seligsohn acuity Brands Founder & Chairman of the Board Corporation. After more than a decade transforming a great technology and materials that met initial commercial targets and aixtron vision into commercial reality, AMOLED products established exceeded the 2011 lifetime targets set by the US Department of steven V. abramson armstrong World industries a true market presence. Energy. We also saw an increasing number of white OLED product President & Chief Executive Officer AU optronics prototypes. This includes the Innovation-of-the-Year Award-winning sherwin i. seligsohn steven v. abramson In 2011, our revenues doubled to over $61 million and we reported sidney d. rosenblatt chimei innolux 61.3 Acuity Brands Lighting OLED lamp using white OLED panels from our first full-year profit. With net income of $3.2 million, or $0.07 per Executive Vice President & Chief Financial Officer LG Chem, Ltd. with our UniversalPHOLED technology and materials. dupont displays share, this was a $23 million bottom-line improvement compared This was introduced at the annual Lightfair exhibition in May. leonard becker Flexible display center to 2010. We ended the year financially strong, with cash, cash General Partner, Becker Associates Flextech alliance equivalents and short-term investments of $346 million and no In 2011, we invested $24 million in research and development to elizabeth h. gemmill, esq. idemitsu Kosan 30.5 debt. In addition to the positive cash flow from operations, the support our technology leadership. In addition, we invested in President, Warwick Foundation Konica Minolta company’s liquidity benefitted from $250 million of capital raised in core growth opportunities for the company. Introduced at the sidney d. rosenblatt leonard Becker C. Keith hartley l-3 communications 15.8 a secondary offering conducted by a team led by Goldman Sachs. 2011 Society for Information Display (SID) Display Week, our novel, President, Hartley Capital Advisors lG chem revenue Our strong year reflects the growing appeal of handheld single-layer barrier technology offers a high-performance, cost- ($ Millions) electronics that feature high-performance AMOLED displays. effective packaging solution for flexible OLED displays and lighting lawrence lacerte lG display Chairman of the Board & Chief Executive Officer, panels. We advanced our flexible OLED technology portfolio lumiotec 2009 2010 2011 AMOLEDs offer noticeably beautiful images with vibrant colors, Exponent Technologies, Inc. outstanding color contrast, wide viewing angles, and, through and delivered a wrist-mounted communication device prototype Moser Baer technologies the use of Universal Display’s phosphorescent technology and with a full-color, flexible AMOLED display, developed with L-3 Motorola Communications—Display Systems and LG Display, with support scientific advisory board materials, energy efficiency. As a result, smartphones equipped national taiwan university elizabeth H. Gemmill, esq. c. Keith Hartley with AMOLED displays, such as the Samsung Galaxy Series, from the Flexible Display Center (FDC) at Arizona State University, dr. Julie J. brown net income (loss) NEC lighting 3.2 gained significantly in market share through record sales in 2011. to the US Army. Senior Vice President & Chief Technical Officer ($ Millions) new Jersey technology council 2009 2010 With these promising advances in our proprietary OLED dr. Michael hack Building on an 11-year relationship, we entered into multi-year nGlia 2011 technologies and materials, our intellectual property portfolio General Manager, OLED Lighting & Custom Displays, license and supplemental material purchase agreements with Vice President nippon steel chemical Samsung Mobile Display Co., Ltd. (SMD), the AMOLED industry continues to strengthen. Our patent portfolio grew to over 1,400 novaled leader, in 2011. These agreements strengthen our partnership patents issued and pending worldwide. We believe our extensive dr. stephen r. forrest William Gould Dow Collegiate Professor oled association and support SMD’s continued use of our proprietary OLED portfolio of patents, trade secrets and know-how gives us a lawrence lacerte dr. Julie J. Brown of Electrical Engineering & Physics technologies and materials in its portfolio of state-of-the-art competitive advantage in the OLED industry. To support the Vice President for Research, University of Michigan panasonic OLED products. growing OLED markets and better serve our customers, we also panasonic idemitsu oled lighting dr. Mark e. thompson amplified our presence in Asia: We established a new subsidiary pioneer & tohoku pioneer (19.9) Capitalizing on the success of handheld products using AMOLED Professor of Chemistry (20.5) in Japan, expanded our offices in Taiwan, and opened a research displays, consumer electronics makers also advanced new products Department of Chemistry ppG industries facility in Hong Kong. University of Southern California with larger AMOLED screens. Tablet computers with AMOLED princeton university 346.1 displays entered the market late in 2011, and longstanding Universal In 2011, we were recognized with a variety of industry awards. For samsung sMd the fourth consecutive year, the US Department of Energy honored executive officers Display partners Samsung and LG both unveiled breathtaking 55" dr. Michael Hack dr. stephen r. Forrest seiko epson our white OLED achievements for solid-state lighting. Deloitte LLP OLED televisions at the Consumer Electronics Show in January steven V. abramson sFc recognized us as one of the fastest-growing technology, media, President & Chief Executive Officer 2012. To accommodate this growing demand for AMOLEDs, SMD, showa denko LG Display Co., Ltd. and AU Optronics Corp. each announced telecommunications, life sciences, and clean technology companies dr. Julie J. brown sony plans for manufacturing capacity expansion. in its Technology Fast 500 in North America, and the Society for Senior Vice President & Chief Technical Officer Information Display honored Dr. Julie Brown, our Chief Technology toshiba Cash, Cash equivalents 73.2 This past year, we also extended our material supply agreement dr. Michael hack & short-term investments 63.9 Officer, with a 2011 Fellow Award. toyota industries with PPG Industries, Inc. Through this longstanding partnership, General Manager, OLED Lighting & Custom Displays, ($ Millions, at December 31) We are very proud of our accomplishments in 2011. Looking to Vice President university of Michigan Universal Display has become the recognized leader in the supply dr. Mark e. thompson Janice K. Mahon 2012, we anticipate another year of rapid market growth as new university of southern california 2009 2010 2011 of state-of-the-art, high-quality phosphorescent OLED materials Janice K. Mahon for the OLED industry. manufacturing capacity is installed and exciting, innovative OLED Vice President of Technology Commercialization us air Force research laboratory display and lighting products reach the market. For our part, we will & General Manager, PHOLED Material Sales Business us army CERDEC In the third quarter, we achieved another important milestone. continue to invest in our proprietary technologies and materials to us army research laboratory We began shipping our green phosphorescent material system sidney d. rosenblatt offer state-of-the-art performance and innovative solutions to our Executive Vice President & Chief Financial Officer for commercial use. Developed to complement our green us department of energy 1,433 customers and their products. With sustained leadership in OLED UniversalPHOLED® emitter materials, our new commercial host technology and materials