News Release

• Joint development agreement aims to accelerate commercialization of next-generation intelligent optical systems for smart eyewear and augmented reality (AR) optical lens stack
• Partnership combines world-class expertise in materials engineering, lenses and smart eyewear to develop lightweight, high-performance optical systems critical to scalable AR experiences
  
  

PARIS and SANTA CLARA, Calif., June 16, 2026 (GLOBE NEWSWIRE) -- EssilorLuxottica and Applied Materials, Inc. today announced a long-term joint development agreement to accelerate the commercialization of next-generation intelligent optical systems for augmented reality and AI-powered smart eyewear.

The collaboration combines EssilorLuxottica’s global leadership in lenses, frames and smart eyewear with Applied Materials’ expertise in materials engineering and waveguide technologies to advance scalable optical platforms capable of delivering lightweight, high-performance visual experiences for the next era of computing.

Together, the companies will collaborate on research and development of advanced optical technologies, including waveguides, adaptive lens systems and materials innovations, which can enable future intelligent lenses and augmented reality (AR) experiences. Waveguides are fundamental to AR devices, providing the optical layer, which power projected images to be coupled into, guided through and emitted from a transparent lens while maintaining visibility of the real world. Light-adaptive and electro-active lenses dynamically adjust lens tint offering vision and well-being benefits in all light conditions, while advanced lens encapsulation technologies help preserve the optical performance of AR display systems.

By combining complementary expertise and intellectual property, the companies aim to accelerate the path from breakthrough innovation to manufacturable and scalable optical solutions through joint research initiatives conducted at a dedicated collaboration lab located on Applied Materials’ Silicon Valley campus.

“We believe the convergence of advanced optics, AI and wearable technologies will unlock a new generation of experiences for consumers,” said Francesco Milleri, Chairman and CEO, EssilorLuxottica. “For decades, EssilorLuxottica has advanced breakthrough innovations in lenses and visual performance, helping redefine how people experience the world around them. Together with Applied Materials, we look forward to exploring intelligent optical technologies that can help shape the future of smart glasses and next-generation visual computing, creating a new global force for the expansion of the display wearables category.”

“Designing, building and scaling next-generation smart glasses will require deep collaboration across the technology ecosystem,” said Gary Dickerson, President and CEO, Applied Materials. “By bringing together Applied Materials’ leadership in photonics and materials engineering with EssilorLuxottica’s expertise in lenses and smart eyewear, we are accelerating the development and commercialization of advanced display smart glasses that can create entirely new user experiences.”

Applied Materials and EssilorLuxottica also plan to jointly explore additional strategic opportunities to further develop and commercialize technologies created through the collaboration.

Forward-Looking Statements
This press release contains forward-looking statements, including those regarding the development and commercialization of new technologies and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: consumer demand for augmented reality and smart eyewear; the ability to develop, deliver and support new products and technologies; market acceptance of newly developed products; and other risks and uncertainties described in Applied's filings with the Securities and Exchange Commission, including Applied's most recent Forms 10-K, 10-Q and 8-K. All forward-looking statements are based on management's current estimates, projections and assumptions, and Applied assumes no obligation to update them.

About EssilorLuxottica
EssilorLuxottica is a global leader in the design, manufacture and distribution of advanced vision care products, eyewear and med-tech solutions. The Group is home to the most innovative lens technologies, including Varilux, Stellest and Transitions, iconic brands such as Ray-Ban, Oakley and Supreme, top-selling smart eyewear products including Ray-Ban Meta, Oakley Meta Vanguard and Nuance Audio, the most desired luxury licensed brands and world-class retailers including Sunglass Hut, LensCrafters, Vision Express and Apollo. With 210,000 employees across 150 countries, 600 operations facilities, serving 300,000 eye care professionals and operating approximately 20,000 stores, the Group generated consolidated revenue of Euro 28.5 billion in 2025. EssilorLuxottica trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. www.essilorluxottica.com

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions that are at the foundation of virtually every new semiconductor and advanced display in the world. The technology we create is essential to advancing AI and accelerating the commercialization of next-generation chips. At Applied, we push the boundaries of science and engineering to deliver material innovation that changes the world. Learn more at www.appliedmaterials.com.

Applied Materials, Inc.