Awesome MeganeX to be demonstrated at Panasonic’s Booth

LAS VEGAS — (BUSINESS WIRE) — January 4, 2022 — Shiftall Inc., a fully owned subsidiary of Panasonic Corporation, will reveal MaganeX, its stylish, lightweight, high-dynamic-range (HDR), virtual-reality (VR) glasses at CES 2022 this week incorporating Lightning^® 2.6K x 2.6K (2560 x 2560 resolution) micro OLED (organic light emitting diode) displays on chip (DoC^®) and all-plastic Pancake^® optics from Kopin Corporation (NASDAQ: KOPN). This most advanced VR glasses will be shown at the Panasonic booth ( LVCC Central Hall, Booth #16419 ).

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Shiftall MeganeX (Graphic: Business Wire)

Shiftall, a fully owned subsidiary of Panasonic Corporation, presents MaganeX which is an ultra-lightweight, 5.2K HDR VR headset supporting 6 degree-of-freedom (DoF) head position detection and various SteamVR applications. The MaganeX has a very small form factor thanks to Kopin’s 1.3" displays and the slim Pancake optics. The small, lightweight form factor makes the glasses comfortable to wear for extended periods of time, unlike today's bulky VR headsets. The very advanced VR glasses also provide for interpupillary distance (IPD) and diopter adjustments so that they can be used without corrective lenses. The foldable frame with built-in speakers makes it easy to carry.

The 2.6K x 2.6K OLED DoC is designed with Kopin's patented backplane architecture that reduces power consumption and delivers very high frame rates up to 120 Hz and 10 bits of color (30 full-color bits). Utilizing its patent-pending ColorMax^® technology, Kopin has been working with its partner, Lakeside Optoelectronic Technology Co., Ltd., to optimize the duo-stack OLED structure to output color spectrum to match the bandpass of the color filters for high color fidelity (> 100% sRGB), coupled with very high Current Efficiency for high brightness (> 1000 nits). The 30-bit color control, together with the high color fidelity, high brightness and high contrast ratio (> 10,000: 1), enables the much-desired studio-quality, HDR VR experience.

Kopin's world’s first all-plastic Pancake optics (named P95) optimized for Kopin's 1.3" 2.6K x 2.6K OLED microdisplay provide a large field of view (equivalent to > 200 inches viewed from 3-m distance) and offer better image quality, much smaller size, lighter weight and lower cost than anything previously available.

“It is necessary for VR glasses to be lightweight and comfortable to wear as well as deliver life-like images in order to be widely accepted to consumers,” said Takuma Iwasa, CEO of Shiftall. “Kopin’s unique 2.6K x 2.6K OLED display and all-plastic Pancake optics are the key to achieving these objectives. We are very pleased with our close partnership with Kopin for the development of our VR glasses.”

“We have had a long-standing collaborative development program with Panasonic and Lakeside, and each company has contributed its core elements of the technology and design – for the ultimate VR Glasses that have both high-performance and a sleek, comfortable design,” said Dr. John C.C. Fan, President and CEO of Kopin. “We look forward to seeing Shiftall delight their customers with these magnificent VR Glasses.”

The Shiftall VR Glasses will be shown on January 6th at Kopin’s suite at the Westgate Las Vegas Resort & Casino during the reception (6:00 - 8:30 pm) and Fireside Chat (7:00 pm) with Dr. Fan and Chris Chinnock (Insight Media, Inc. & 8K Association) about their perspectives of the Metaverse.

About Shiftall Inc.

Shiftall, a wholly owned subsidiary of Panasonic Corporation and based in Osaka, Japan, is specializing in IoT development and mass production that can demonstrate dozens of high team power, and will challenge to realize the living of one step fly. To learn more about Shiftall: https://en.shiftall.net.

About Kopin Corporation

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, 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.

About Lakeside Optoelectronic Technology Co., Ltd.

Lakeside photoelectric technology (Jiangsu) Co., Ltd. is an OLED technology developer and OLED micro display manufacturer having a factory in Changzhou, China. For more information, please visit Lakeside's website at www.hupanoled.com.

Kopin, ColorMax and DoC, Lightning, and Pancake are registered trademarks 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. These forward-looking statements may include statements with respect to: Kopin working with, collaborating with or having development programs with Lakeside Optoelectronic Technology Co., Ltd., Shiftall In. and Panasonic Corporation; and our belief that we have created the world’s first all-plastic Pancake optics (named P95). 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 including the termination of collaborations and programs. 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 26, 2020, or as updated from time to time in the Company’s Securities and Exchange Commission filings.

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