Slide 1: Canaccord Genuity Presentation August 12th 2025
CONSUMER | DEFENSE + SECURITY | ENTERPRISE + INDUSTRIAL | MEDICAL | TRAINING + SIMULATION Canaccord Genuity Presentation August 12th 2025 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This document contains forward-looking statements. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect” and similar expressions that convey uncertainty of future events or outcomes are i
Slide 3: Corporate Overview
Corporate Overview KOPIN IS A LEADING PROVIDER OF SPECIALIZED APPLICATION-SPECIFIC OPTICAL SOLUTIONS FOR HIGH PERFORMANCE AND MISSION CRITICAL AR AND VR APPLICATIONS NASDAQ • Unique Market Position: Only player in the market that offers solutions addressing applications requiring leading edge expert
Slide 4: Theon International Partnership Announcement
Theon International Partnership Announcement • THEON INTERNATIONAL (AMS: THEON $1.7B Market Cap) is a leading developer and manufacturer of customizable night vision, thermal imaging systems and Electro-Optical ISR systems for military and security applications focused on Europe, Southeast Asia and
Slide 5: Theon International Partnership Announcement Key Investment Terms
Theon International Partnership Announcement • Key Investment Terms • $15M USD in cash primarily focused on European Investments for growth • Initial Fixed conversion share price of $3.00 on a $7M convertible Preferred stock issuance • 5 yr lock-up period • Co-developed and aligned 3yr Global Strate
Slide 6: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) • ESG compliance is a key requirement for European Manufacturing firms specifically in the Semiconductor and Defense Markets. • ESG also remains important to Russell 2000 and 3000 Index Funds and passive ETF flows into the Russel STRICTLY CONFIDENTIAL 6
Slide 7: Proprietary Microdisplay Portfolio
Proprietary Microdisplay Portfolio PRODUCT AND TECHNOLOGIES OFFER A WIDE RANGE OF APPLICATIONS AND GROWTH OPPORTUNITIES • MicroDisplays are miniaturized display units with small screen sizes and high resolutions (<2” diagonally) • Used in a wide variety of applications that require a small form fact
Slide 8: Next Generation Technologies
Next Generation Technologies PRODUCT AND TECHNOLOGIES OFFER A WIDE RANGE OF APPLICATIONS AND GROWTH OPPORTUNITIES NeuralDisplay™ Backplane Technology Adoption Consumer, Medical AR/VR OLED MicroDisplay and Weapon Sights Fixed wing aircraft µLED MicroDisplay AMLCD MicroDisplay OLED MicroDisplay Rotary
Slide 9: Manufacturing Footprint
Manufacturing Footprint UNITED STATES & UNITED KINGDOM MANUFACTURING FACILITIES Westborough, MA CORPORATE HQ AMLCD MANUFACTURING Dalgety Bay, FLCOS Manufacturing, Scotland OLED Packaging Reston, VA Head mounted displays Near eye display systems 9
Slide 10: Application Specific Optical Solutions (ASOS)
Application Specific Optical Solutions (ASOS) EVOLUTION FROM A COMMODITY SUPPLIER TO A VALUED, LEADING-EDGE PARTNER • Customer Driven Applications requiring Microdisplays to be mounted within ergonomically designed enclosures, utilizing customized optics, and driver electronics. • Used in a wide var
Slide 11: Digital Overlay on the Real World
Digital Overlay on the Real World BETTER OPTICAL SOLUTIONS IMPROVE PRODUCTIVITY AND ACCURACY IN MULTIPLE APPLICATIONS DVO Stays on Weapon Maintain Fixed Reticle Retains Boresight GPS & Compass 230.63° 37 23.516 122 02.625 Target ID Friend/FOE Active Target Reticle Wind & Range Rapid Targeting 875m >
Slide 12: Defense Market Drivers, Dynamics and Tailwinds
Defense Market Drivers, Dynamics and Tailwinds TIER 1 CUSTOMERS / IMPROVED PERFORMANCE / TACTICAL ADVANTAGES IN THE FIELD Growing Tier 1 Customer Base Improved Technological Performance Tactical Advantages Most systems use Monochrome displays; AI-Enabled targeting, telemetry and human due to complex
Slide 13: Next Generation NeuralDisplay™ Solution
Next Generation NeuralDisplay™ Solution NEURALDISPLAY™ IS A BIDIRECTIONAL DISPLAY WITH INTEGRATED IMAGING PIXELS THAT TRACK EYE MOVEMENT, GAZE AND ADAPTS TO YOUR EYESIGHT – NOT FORCING YOUR EYES TO ADAPT TO THE DEVICE Next generation solutions require AI software for adaptive, dynamic eye tracking a
Slide 14: End Market – Defense Industry
End Market – Defense Industry EXISTING PROGRAMS IN PRODUCTION & DEVELOPMENT REPRESENTS OVER $75-100 MILLION PEAK ANNUAL REVENUE * Excludes potential growth from funded R&D programs Programs in Production Production Programs in Development Soldier centric systems and fixed & Setting the stage for lon
Slide 15: Integrated Vision Acuity Systems
Integrated Vision Acuity Systems IVAS NOW STRATEGY IVAS V1.2 SBMC STRATEGY DayVAS™ Ultra low Power COLOR µLED DarkWave™ NeuralDisplay™ 15
Slide 16: Next Generation Short Range Interceptor
Next Generation Short Range Interceptor Two separate programs supporting the current Stinger and NGSRI programs. Aerovironment BIOC and Mono Training and Simulation System Lockheed Eye Piece for NGSRI units starting in 2027 Kopin Partners with BlueHalo for the Kopin Receives Contract Increase for U.
Slide 17: End Market – Medical
End Market – Medical CR3 HEAD-MOUNTED DISPLAY – ZEISS KINEVO 900 S We combine high-resolution 3D imaging and real-time patient-specific information overlays with peripheral vision and a design that eliminates neck pain and physical fatigue for extended wear. • Photo realistic imagery • Lightweight &
Slide 18: End Market - Consumer
End Market - Consumer MICROLED – TECHNOLOGY DISRUPTION • Kopin’s µLED MicroDisplay has potential for significantly higher brightness than OLED (up to 40x higher) • Consumer AR/VR need µLED due to brightness enabling thinner optics, waveguides and other “look through” technologies • Consumer firms re
Slide 19: Market Opportunity
Market Opportunity DEFENSE SPENDING IS INCREASING IN THE US AND EU US Department of Defense Spending1 500 NATO Europe Defense Spending 3.00% $ in Billions 450 $ in Billions $380 $850 400 $842 $347 2.50% $782 350 $722 $313 $693 $705 $715 $291 $300 300 $268 $278 $244 $254 $235 $236 250 2.00% 2.00% 200
Slide 20: Market Opportunity
Market Opportunity PRODUCT AND TECHNOLOGIES OFFER A WIDE RANGE OF APLLICATIONS AND GROWTH OPPORTUNITIES Global MicroDisplay Market1 $ in Billions $9.2 • MicroDisplays have a wide range of applications in consumer electronics, 17.6% automotive, healthcare, aerospace and defense CAGR • Aerospace and D
Slide 21: Patent Portfolio
Patent Portfolio EXTENSIVE IP PORTFOLIO COVERS CRITICAL TECHNOLOGIES REQUIRED FOR APPLICATION-SPECIFIC OPTICAL SOLUTIONS Breakdown of Patents Optics Other >200 Pending or Issued Patents Ergonomic Design Headset >20 Patents Related to OLED Backplane Technology >6 Pending Patents Related to Artificial
Slide 22: Recent Financial Highlights
Recent Financial Highlights OPERATIONAL IMPROVEMENTS AND MACRO TAILWINDS LEADING TO IMPROVING FINANCIAL PERFORMANCE Q225 Revenue Q225 Bookings • Revenue and bookings growth driven by program wins and expanding end market applications $8.6M $12M • “On Time, In Full” improvements have led to better cu
Slide 23: Leadership Team
Leadership Team EXECUTIVE LEADERSHIP WITH DEEP DOMAIN EXPERTISE AND TRACK RECORD OF SUCCESS Michael Murray Richard Sneider Paul Baker Bill Maffucci CEO & President Treasurer & CFO COO VP of BD and Strategy Joined Kopin in September Joined Kopin in 1998 Joined Kopin in 2014 Joined Kopin in 2015 2022
Slide 24: Investment Highlights
Investment Highlights Unique Market Market Industry Position Opportunity Leader Only player in the market that offers Large and growing MicroDisplay #1 MicroDisplay provider for attractive end solutions addressing applications market forecasted to reach $6.0B markets in defense, enterprise & industr