Vuzix Enters into a Partnership Agreement with Quanta Computer

 Quanta to utilize Vuzix’ advanced waveguides and display engines to manufacture next generation lightweight smart glasses

ROCHESTER, NY, November 15, 2023 – Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, and Quanta Computer (“Quanta”), a Global Fortune 500 Company and worldwide leading Original Design Manufacturer (ODM), today announced that the two firms have entered into a partnership agreement which will support the manufacture of next generation lightweight smart glasses for the broader markets.

Vuzix is set to shortly deliver the first batch of its latest advanced waveguide and optical display components for this project, and a plan is being put in place for subsequent deliveries to be made throughout 2024. Quanta and Vuzix are committed to presenting innovative smart glasses solutions for the broader markets, making it accessible to a wide range of interested market participants.

Vuzix’ display engines and advanced waveguides

“We are excited to join forces with Vuzix to revolutionize the AR smart glasses industry," said C.C. Leung, Vice Chairman and President of Quanta Computer. "The development and design efforts are already underway at Quanta for such products, and our plan is to deliver a suite of groundbreaking AR smart glasses products during 2024 to our potential global customers, using waveguides and components sourced from Vuzix.”

"This partnership agreement between Vuzix and Quanta represents an important step toward advancing the capabilities of AR smart glasses and their associated accessories as it aims to address the evolving needs of consumers and enterprises by delivering state-of-the-art technology that seamlessly integrates into everyday life," said Paul Travers, President and CEO of Vuzix. "We look forward to working with such a leading product manufacturer as Quanta.”

About Quanta Computer

Quanta Computer is a Fortune Global 500 Company and a leader in worldwide notebook manufacturing, as well as a leading solution provider in cloud computing. Quanta provides innovative products with superior technology in information and communications, consumer electronics, cloud computing, smart home solutions, smart automobile solutions, smart healthcare, and AIoT, etc. Founded in 1988 and listed in TWSE since 1999, Quanta Computer is headquartered in Taiwan with manufacturing and service locations across Asia, Americas, and Europe, etc. FY2022 consolidated revenues for Quanta Computer amounted to US$43 billion with a total number of employees more than 65,000 worldwide. For further information, please visit Quanta Computer’s Website at http://www.quantatw.com/

Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company’s products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 325 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; Oxford, UK; Munich, Germany; and Kyoto and Tokyo, Japan.  For more information, visit the Vuzix website, Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship and future business opportunities with Quanta Computer and their customers, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,

Vuzix Corporation

ed_mcgregor@vuzix.com  

Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,

Investor Information – IR@vuzix.com  www.vuzix.com