Vuzix Advances the Vuzix Ultralite™ OEM Platform to Better Facilitate Visual GPT and Other AI Functions

ROCHESTER, NY, February 16, 2023 – Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that following its formal unveiling at CES 2023, the Vuzix Ultralite™ smart glasses OEM platform has continued to garner broad and strong interest from many potential OEM customers  spanning consumer electronics, software, telecoms and general eyewear manufacturers. The form and functionality of its design, working wirelessly in concert with nearly any modern mobile phone, makes it the ideal complementary and wearable accessory that can help usher in a new era of artificial intelligence (AI) based consumer functionality. Using a wireless connection, Vuzix Ultralite can effortlessly leverage the power of Android© and iOS© mobile phones for everything from language translation to visual/contextual search, to text notifications and instructions.

Vuzix Ultralite Smart Glasses OEM Platform

The Vuzix Ultralite™ OEM platform solution is a turnkey offering designed specifically for the broader enterprise and consumer markets.  Weighing in at a mere 38 grams and so power-efficient that it can run for two days on a single charge, Vuzix Ultralite™ is the world’s most fashion forward smart glasses available. Vuzix’ advanced monocular waveguide optics and custom micro display engine work together to create a crisp, transparent image over the wearer’s real world view that wirelessly delivers all the important information on a user’s smartphone without needing to take the phone out of their pocket or purse. This versatile combination of form and function answers the market demand for smart glasses technology that looks just like a pair of fashionable eyeglasses and opens up a broad range of new market applications. Prescription-ready and highly customizable, the Vuzix Ultralite OEM platform is ideal for users’  heads-up display needs such as language translation, closed captioning, messaging, directions, health reporting, and workout status among many other things, all while the technology they’re wearing disappears. The fast-growing capabilities of AI programs such as OpenAI and Visual GPT, are expected to just accelerate the demand in the upcoming years for wearable AI-compatible solutions.

“The Ultralite platform, with its low weight, see-though display, fashionable design, with the flexibility to add technology from sensing cameras to mics, along with a two-day battery life, presents the state-of the-art solution for the broader markets.  Combining the amazing capabilities of AI-based programs such as ChatGPT and visual search with the true wearability and functionality of the Ultralite Platform puts it in a league of its own,” said Paul Travers, President and CEO of Vuzix.  “As a technology leader, Vuzix has been working, with our partners, on AI and Machine Learning for years.  It is great to see consumer and enterprise acceptance of these technologies grow and this will surely lead to a greater focus on Regenerative AI, Visual GPT, GPT-3 and other technologies from Vuzix and our partners."

About Vuzix Corporation

Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 278 patents and patents pending and numerous IP licenses in the 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, 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 Vuzix Ultralite platform performance and specifications and ultimately the potential future business opportunities for the Vuzix Ultralite platform 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.

Vuzix 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