EssilorLuxottica and Applied Materials Collaborate to Accelerate Commercialization of Next-Gen AR Optical Platform for Smart Glasses

Through a joint development agreement, the companies will accelerate the commercialization of next-generation intelligent optical systems for smart eyewear and optical lens stacks used in augmented reality (AR).

By integrating their world-leading expertise in materials engineering, lenses, and smart eyewear, both companies aim to develop lightweight, high-performance optical systems essential for scalable AR experiences.

[Paris, France and Santa Clara, California, June 16, 2026] — EssilorLuxottica and Applied Materials, Inc. (Nasdaq: AMAT; headquartered in Santa Clara, California; CEO Gary E. Dickerson) announced today a long-term joint development agreement to accelerate the commercialization of next-generation intelligent optical systems for augmented reality (AR) and AI-powered smart eyewear.

This collaboration combines EssilorLuxottica’s strengths as a global leader in lenses, frames, and smart eyewear with Applied Materials’ expertise in materials engineering and waveguide technology, aiming to evolve scalable optical platforms capable of delivering lightweight, high-performance visual experiences for the next era of computing.

The companies will collaborate on research and development of advanced optical technologies, including waveguides, adaptive lens systems, and material innovations, to support the realization of future intelligent lenses and AR experiences. Waveguides are a core technology in AR devices, functioning as optical layers that capture, transmit, and emit projected images within transparent lenses while maintaining visibility of the real world. Lenses with photochromic or electro-responsive capabilities dynamically adjust tint levels under various lighting conditions, enhancing visual clarity and comfort. Additionally, advanced lens encapsulation technologies contribute to maintaining the optical performance of AR display systems.

The two companies plan to accelerate the path from breakthrough innovation to mass-producible, scalable optical solutions by combining their complementary expertise and intellectual property at a dedicated collaboration lab to be established within Applied Materials’ Silicon Valley campus.

Francesco Milleri, Chairman and CEO of EssilorLuxottica, said: “We believe the convergence of advanced optics, AI, and wearable technology will bring a new generation of experiences to consumers. For decades, EssilorLuxottica has driven groundbreaking innovation in lenses and visual performance, redefining how people experience the world. Through our collaboration with Applied Materials, we look forward to exploring intelligent optical technologies with the potential to shape the future of smart glasses and next-generation visual computing, creating a new global force to drive the expansion of the display-based wearable market.”

Gary Dickerson, President and CEO of Applied Materials, said: “Designing, manufacturing, and mass-producing next-generation smart glasses requires close collaboration across the entire technology ecosystem. By combining Applied Materials’ leadership in photonics and materials engineering with EssilorLuxottica’s expertise in lenses and smart eyewear, we will accelerate the development and commercialization of smart glasses with advanced display technologies that create entirely new user experiences.”

Applied Materials and EssilorLuxottica also plan to jointly explore additional strategic opportunities for further development and commercialization of technologies emerging from this collaboration.

Forward-Looking Statements

This press release contains forward-looking statements, which are not historical facts, including statements regarding the development and commercialization of new technologies. These statements and their assumptions involve risks and uncertainties and do not guarantee future performance. Factors that could cause actual results to differ materially from those implied or expressed include consumer demand for AR 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 documents filed by Applied Materials with the U.S. Securities and Exchange Commission (SEC), including its most recent Form 10-K, 10-Q, and 8-K. All forward-looking statements are based on current management estimates, forecasts, and assumptions, and Applied Materials undertakes no obligation to update them.

About EssilorLuxottica

EssilorLuxottica is a global leader in the design, manufacture, and sale of advanced vision care products, eyewear, and medtech solutions. The company offers innovative lens technologies such as Varilux, Stellest, and Transitions; iconic brands including Ray-Ban, Oakley, and Supreme; best-selling smart eyewear products like Ray-Ban Meta, Oakley Meta Vanguard, and Nuance Audio; as well as popular luxury licensed brands and a world-class retail network including Sunglass Hut, LensCrafters, Vision Express, and Apollo. Operating in 150 countries with over 200,000 employees, 600 sites, services to 300,000 eye care professionals, and 18,000 stores, the company reported consolidated revenue of €28.5 billion in 2025. EssilorLuxottica is listed on Euronext Paris and is a component of the Euro Stoxx 50 and CAC 40 indices. ISIN: FR0000121667, Reuters: ESLX.PA, Bloomberg: EL:FP. www.essilorluxottica.com

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is a leader in materials engineering solutions, enabling the manufacture of nearly every semiconductor chip and advanced display worldwide. The technologies created by Applied are essential for advancing AI and accelerating the market introduction of next-generation chips. We challenge the limits of materials science and engineering to transform the world through material innovation.

More information is available at www.appliedmaterials.com.