MicroVision Announces Change in Leadership, Names Perry Mulligan as New Chief Executive Officer

MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced that it has named Perry Mulligan, a company director, as chief executive officer, replacing Alexander Tokman who has resigned as chief executive officer and director.

Mulligan has served as a director at Microvision since January 2010 and assumes the role of chief executive officer (CEO) immediately. Tokman will remain as president through the end of 2017 to assist with the transition.

"Perry is very familiar with MicroVision, its vision and management through his seven-year tenure as a member of the Board of Directors. Perry brings a track record of success and a strong background in executive leadership, operational management and global supply chain design,” said Brian Turner, chairman and independent director at MicroVision. "Alex has worked tirelessly for MicroVision, and we appreciate his contributions, energy and commitment to the company’s success. We are grateful that Alex has agreed to stay on as president through the end of the year and to be available to support the company and Perry as we move forward.”

"I am very excited to join MicroVision as CEO and I look forward to carrying on the vision of the company and building on its success,” said Perry Mulligan, incoming CEO. "There are many opportunities ahead, and I am pleased that Alex will be available to help ensure a smooth transition, enabling the company to continue to execute on our business plan.”

"After a decade of guiding MicroVision, I have decided it is time to step back and spend more time with my family,” said Alexander Tokman, outgoing CEO. "I believe that Perry is the right person to take the company to the next stage and am pleased that he was chosen to helm the next era of growth for the company.”

Mulligan was formerly senior vice president of operations for Emulex Corporation, where he oversaw Emulex operations, including supplier management, test engineering, logistics, IT and facilities. Prior to Emulex, Mulligan was senior vice president, operations for QLogic, where he was responsible for all aspects of the manufacturing and delivery of products to the customer in addition to overall supply chain design and manufacturing strategy.

About MicroVision

MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.

For more information, visit the company’s website at www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc or follow MicroVision on Twitter at @MicroVision.

MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.

Forward-Looking Statements

Certain statements contained in this release, including those relating to possibilities for future product, product applications, potential opportunities and expansion into new markets are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company’s forward-looking statements include the following: our ability to raise additional capital when needed; products incorporating our PicoP® scanning technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP assets, our or our customers’ failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company’s SEC reports, including the company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.

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