Kopin and THEON International Advance Alliance Following Regulatory Approval of $15M Agreement & Additional $8M Joint Development

$23M commitment includes previously announced $15M investment and additional $8M planned for co-development of Military-grade display

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (NASDAQ: KOPN) a leading provider of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and medical products, today announced the closing of its previously disclosed $15.0 million strategic investment agreement with THEON International Plc (Euronext Amsterdam: THEON). The transaction, which received regulatory approval, closed on Thursday, October 16th, 2025. Read more: https://tinyurl.com/aaarzm2z

In addition to the $15 million investment from THEON International the companies contemplate entering into a separately funded $8 million non-recurring engineering (NRE) agreement to co-develop a military-grade display. This advanced display technology would be intended for integration into a variety of defense platforms, including high-performance augmented reality solutions for defense applications. The NRE initiative is a significant step forward in the companies' shared commitment to innovation and has the potential to accelerate development across multiple defense programs and global markets.

“The partnership between THEON and Kopin represents a true transatlantic alliance, driving innovation in the dismounted soldier system domain for today’s missions and tomorrow’s needs,” said Christian Hadjiminas, Founder and CEO of THEON. “Our contemplated $8.0 million non-recurring engineering (NRE) agreement for military-grade display development would further reinforce our commitment and confidence in working with the Kopin team.”

“THEON’s investment underscores the strength of our partnership and the strategic value we see in bringing our teams together to accelerate business wins in new markets and leverage our shared vision and commitment to innovation,” said Michael Murray, Chairman and CEO of Kopin. “This collaboration is more than financial—it’s a fusion of complementary capabilities that positions us to deliver cutting-edge solutions to defense and enterprise customers worldwide. By aligning our engineering talent, manufacturing infrastructure, and global reach, we’re creating a powerful platform for growth and co-development. As defense modernization efforts intensify across the globe, this partnership enables us to respond with agility, scale, and technological leadership.”

Advisors

Stifel acted as exclusive financial advisor and placement agent to Kopin.

About Theon International Plc

THEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 200,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. THEON INTERNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON).

About Kopin

Kopin Corporation is a leading developer and provider of innovative display, and application-specific optical solutions 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), Ferroelectric Liquid Crystal on Silicon (FLCoS) displays, MicroLED displays (µLED) 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20251016902901/en/

For Investor Relations

Kopin Corporation

Richard Sneider, Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com

508-870-5959

MZ Contact

Brian M. Prenoveau, CFA

MZ Group – MZ North America

KOPN@mzgroup.us

561-489-5315

Lightspeed PR Contact

Grace Halvorsen

Lightspeed PR/M

Kopin@lightspeedpr.com

Source: Kopin Corporation