Kopin Receives Additional $2 Million Follow-On Microdisplay Order in Support of Collins Aerospace’s F-35 Lightning II Helmet Mounted Display System (HMDS)

Kopin Receives Additional $2 Million Follow-On Microdisplay Order in Support of Collins Aerospace’s F-35 Lightning II Helmet Mounted Display System (HMDS)

Investor Relations:
Richard Sneider
Treasurer and Chief Financial Officer, Kopin
rsneider@kopin.com
(508) 870-5959
or
MZ Contact:
Brian M. Prenoveau, CFA, 561 489 5315
MZ Group – MZ North America
KOPN@mzgroup.us

Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical systems and high performance microdisplays for defense, enterprise, consumer and medical products, announced today that it has been awarded a $2 million follow-on production order for its high-brightness active-matrix liquid crystal display (AMLCD). This will come from Collins Aerospace, an RTX business, in support of the F-35 Lightning II Helmet Mounted Display System (HMDS).

The HMDS is developed by Collins Elbit Vision Systems, LLC (CEVS). CEVS is a joint venture between Collins Aerospace and Elbit America and is the world-leading fighter aircraft helmet mounted display (HMD) manufacturer, providing unparalleled expertise in the development, production, integration and sustainment of HMD and night vision systems.

The F-35 is the most advanced 5th Generation fighter jet globally. The multi-role aircraft is designed for both air dominance and strike missions while also offering electronic warfare, intelligence, surveillance and reconnaissance capabilities.

A key feature is the augmented reality (AR) helmet, which uses Kopin’s microdisplay to provide pilots with extensive flight, tactical and sensor information. This enhances situational awareness, precision and safety while flying in harsh environments under challenging conditions. The unique microdisplay technology required for these functionalities and extreme conditions is exclusively supplied by Kopin.

Kopin’s fulfillment of this AMLCD order will ensure continued steady production of the CEVS F-35 Lightning II Helmet Mounted Display System (HMDS). The current AMLCD microdisplay designed into the system is set to transition to Kopin’s next-generation Organic Light Emitting Diode on Silicon (OLEDoS) microdisplay. The high performance OLEDoS microdisplay recently achieved the final milestone in the qualification process and will move forward into final qualification and full rate production.

“The additional order for AMLCD microdisplays for F-35 helmets extends our backlog of deliveries to Collins Aerospace and with additional anticipated future orders will ensure uninterrupted production in preparation for the next-generation OLEDoS microdisplay,” stated Bill Maffucci, the company’s Vice President of Strategy & Business Development. “Our demonstrated performance in supplying thousands of our AMLCD microdisplays to date has been validated by this order and we look forward to supporting Collins Aerospace now and in the future.”

The F-35 strike fighter aircraft is being procured in different configurations for the U.S. services as well as a growing number of international allies. Kopin has been the sole supplier of AMLCD microdisplays for the F-35 pilot helmets since the start of the program.

About Kopin Corporation

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, enterprise, professional and consumer products. Kopin’s portfolio includes microdisplays, display modules, eyepiece assemblies, image projection modules and vehicle mounted and head-mounted display systems that incorporate ultra-small high-resolution Active Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics and low-power ASICs. For more information, please visit Kopin’s website at www.kopin.com. Kopin is a trademark of Kopin Corporation.

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. 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. These forward-looking statements may include statements with respect the steadiness of production of the CEVS F-35 and the transition of F-35 projects from AMLCD to OLED. 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 30, 2023, or as updated from time to time our Securities and Exchange Commission filings.