Kopin Receives New Development Order from Naval Air Warfare Center for Advanced Microdisplay Technology Research

Kopin Corporation (NASDAQ: KOPN) a leading provider of application-specific optical solutions and high performance micro-displays for defense, enterprise, consumer and medical products, today announced the award of a new Small Business Innovation Research (SBIR) contract from the Naval Air Warfare Center. Under the terms of the contract, Kopin will leverage over 30 years of expertise in US-based microdisplay development to deliver advanced microdisplays for lensless computational imaging.

The goal of the research is to develop a high-resolution microdisplay which can operate at very high framerates to support development of trusted AI and autonomous capabilities for computational imaging. Kopin intends to accomplish this objective by introducing enhancements to existing microdisplay designs to achieve the performance requirements of this program. The expected output is a microscale (<1” diagonal), high-resolution (>2M-pixel) display and drive board with transparent and back-lit versions.

"This is the first award to Kopin by the Navy for research that advances vision technology in a very novel way,” stated Bill Maffucci, the Company’s Senior Vice President of Business Development and Strategy. “Kopin intends to work with the Office of Naval Research (ONR) to develop through this program a range of lensless, optical-computing devices that provide new capabilities in the areas of computer vision and computational imaging.”

About Kopin

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, industrial and consumer products. Kopin's technology portfolio includes ultra-small 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.

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. These forward-looking statements may include statements with respect to our intention to work with the Office of Naval Research (ONR) to develop through this program a range of lensless, optical-computing devices that provide new capabilities in the areas of computer vision and computational imaging. 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. 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 31, 2022, or as updated from time to time our Securities and Exchange Commission filings.

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