On Semiconductor Corporation · NASDAQ:ON
On Semiconductor — onsemi — Investor Day (September 2026)
100 slides from On Semiconductor's investor day presentation, Sep 16, 2026
Slide 1: Powering a Smarter World
Powering a Smarter World September 16, 2026
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This communication relates to a proposed business combination transaction between Synaptics Incorporated (“Synaptics”) and ON Semiconductor Corporation (“onsemi”). This communication includes forward-looking statements within the meaning of Sectio
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation contains historical non-GAAP financial measures including, among others, free cash flow (FCF) and FCF margin, non-GAAP gross margin and non-GAAP operating margin. This presentation also contains forward looking non-GAAP financial measures, some of
Slide 4: Powering a Smarter World
Powering a Smarter World TOPIC PR ESENTER Charting a Path to Power Hassane El-Khoury the Next Decade of Innovation President & CEO Powering the AI Revolution Achyut Shah Group President, Power Solutions Group Expanding the Core: Sudhir Gopalswamy Group President, Automotive and Industrial Analog
Slide 5: Charting a Path to Power the Next Decade of Innovation
Charting a Path to Power the Next Decade of Innovation Hassane El-Khoury President and CEO
Slide 6: We've reached it.
Every foundational technology eventually encounters a physical limit We’ve reached it. © onsemi 2026 | 6 © onsemi 2026 | Public Information
Slide 7: The Future is Arriving Faster Than Ever
The Future is Arriving Faster Than Ever STEAM ENGINE ELECTRICITY AUTOMOBILE COMPUTING INTERNET AI ~60 ~90 ~37 ~26 ~13 ~9 YEARS YEARS YEARS YEARS YEARS YEARS Precision Grid & factory Petroleum refining, Switching element Bandwidth & local COMPUTE, MEMORY metalworking reorganization fuel distribution
Slide 8: Physical Constraint Ladder
Physical Constraint Ladder Each constraint sits deeper in the system. Each is harder to move. Compute determines how broadly a foundational technology can be deployed COMPUTE ADDRESSED THE CONSTRAINT ON BREADTH ADVANCED FAB CAPACITY MODELS AI ADOPTION Technology & Capacity NODES EXPANDING EXPANSION
Slide 9: More Power Isn't Enough. The World Needs Better Power.
More Power Isn’t Enough. The World Needs Better Power. YESTERDAY: THE CHALLENGE TOMORROW: POWER ENABLES INTELLIGENCE POWER SUPPORTED WORK HAS CHANGED Factories Predictable AI Data Centers operations POWER MUST BE Robotics & Humanoids Appliances Intermittent usage Autonomous Vehicles INTELLIGENCE Sma
Slide 10: We Solved Power; Now We Solve Power Density
WE SOLVED THE POWER OF YESTERDAY POWER OF TODAY ELECTRICAL (COMPONENTS) Electrical Thermal Mechanical Physical MULTI-PHYSICS SYSTEMS Convert, control Move heat Withstand Design within and distribute before it limits stress and the limits of power efficiently performance enable reliability physics Mo
Slide 11: System Requirements are Moving in Opposite Directions
System Requirements are Moving in Opposite Directions What the customer asks for Electrical Mechanical Input voltage Increasing Output voltage Decreasing no Electrical + Thermal + Mechanical + Physical overlap Nothing on the market closes all at once Power Increasing Thermal Physical Physical space
Slide 12: The Constraint has Changed. So did we.
The Constraint has Changed. So did we. FROM TO SOLVING POWER SOLVING POWER DENSITY Efficiency • Conversion • Components • Scale Electrical • Thermal • Mechanical • Physical Power density is not solved by one device It requires a different company onsemi is a fundamentally different company for a fun
Slide 13: Strong Technology Base and Strategic Actions
STRATEGIC ACTIONS EFK SiC SYNA STRONG TECHNOLOGY BASE GTAT 300mm East SWIR SiC JFET VCORE RISC-V Synaptics Acquisition Fishkill Acquisition Acquisition Acquisition Acquisition VISION NY Fab Acquisition Acquisition 2021 2022 2023 2024 2025 2026 And Beyond Treo GaN EPP GaN SiA SiC Treo VERTICAL Embedd
Slide 14: Synaptics Extends the onsemi Portfolio
Synaptics Extends the onsemi Portfolio… + Synaptics + Synaptics POWER SENSE CONTROL CONNECTED COMPUTE Efficient power conversion Perception of the physical world Precise actuation & control Edge intelligence & connectivity • Silicon to wide-bandgap • Image sensors • Analog & mixed-signal ICs • Singl
Slide 15: $213B TAM: Every Market Converges on Power
Every Market Converges on Power MARKET APPLICATION TECHNOLOGY Power Distribution $25 B Traction $24 B Auto ADAS $19 B $93B Lighting $4 B Power Battery Disconnect $2 B Auto Other $18 B $118B Factory Automation $14 B $213B AD&S $14 B Medical $4 B Autonomous Mobile Robots $3 B TAM Drones $2 B Industria
Slide 16: ASP → Scale: Delivering The Value Stack
ASP → Scale Delivering The Value Stack 800V → 12V 800V → <6V PowerBox 800V Safe OBC Battery HV DC Replacement Rail Intelligent ESS xPU multi-phase Solid State Solid State Solid State Power xPU SPS Hybrid controller Circuit Breaker Transformer Battery Disconnect Modules 10BASE-T1S ULS TVS diode LP BT
Slide 17: We Must Change the Power Systems Paradigm
We Must Change the Power Systems Paradigm… Electrical Mechanical no overlap Thermal Physical © onsemi 2026 | Public Information
Slide 18: Introducing Technologies to Address the Constraints
…by Introducing Technologies to Address the Constraints… Electrical Mechanical no overlap Thermal Physical HV Treo EPP T H E D E V IC E T H E IN T E L L IG E N C E THE INTEGRATION Supported by a complete portfolio of differentiated Power and Sensing technologies © onsemi 2026 | Public Information
Slide 19: Creating the Disruption to Unlock the Power Density Problem
…And Creating the Disruption Necessary to Unlock the Power Density Problem Mechanical Electrical Physical Thermal HV Treo EPP T H E D E V IC E T H E IN T E L L IG E N C E THE INTEGRATION Supported by a complete portfolio of differentiated Power and Sensing technologies © onsemi 2026 | Public Informa
Slide 20: onsemi has Every HV Option to Close the Gap
onsemi has Every HV Option to Close the Gap HV Treo EPP Power and Sense Portfolio vGaN solution…And it's ready Unconstrained IGBT HV power conversion SiC Efficiency vGaN MOSFET · JFET GaN Density LGaN · vGaN Cost ▼ IGBT → Hybrid → SiC → Hybrid → vGaN Syracuse, NY - onsemi vGaN R&D and manufacturing
Slide 21: Treo Platform
HV Treo EPP Treo Platform Power and Sense Portfolio Communications Subsystem Application-Specific Interfaces Power Subsystem Power Subsystem Power DC-DC High-Performance The onsemi Treo Platform Control AFE is the most advanced in the industry, Driver Power Low-Power enabling winning analog and mixe
Slide 22: Treo Products Sampling by Year
HV Treo EPP Automotive Industrial AI / Client Compute Medical Power and Sense Portfolio Mass Market 2024 2025 2026 Products Sampling Products Sampling Products Sampling Low-Power AFE ASIC 10BASE-T1S RCP 48V SmartFET High-Side Drivers Medical Automotive, Industrial Automotive Isolated SiC Gate Driver
Slide 23: The silicon becomes the system: Embedded Power Platform
Introducing onsemi’s Embedded Power Platform The silicon becomes the system. EPP is the breakthrough that creates a new category of power systems. 3–5× 30% 12 in. 4 MOS ✓ BEST-IN-CLASS INDUCTANCE UNMATCHED HIGHEST STANDARD FASTEST POWER DENSITY SYSTEM VALUE MANUFACTURING TIME TO MARKET ✓ SUPERIOR TH
Slide 24: EPP Leapfrogs PCB Embedded Power
EPP Leapfrogs PCB Embedded Power HV Treo EPP Power and Sense Portfolio Yesterday's solutions State-of-the-art onsemi EPP Lead-frame & DBC substrate (B2S) Panel / S-Cell PCB embedding Embedded Power Platform Available today Available today Sampling today EVALUATION CRITERIA Power density (area vs. B2
Slide 25: Delivering Value to Customers Already
Delivering Value to Customers Already HV Treo EPP Power and Sense Portfolio Customer / project < 48 hours < 5 days < 3 months dependent 1 Customer input 3 Studio output 5 No custom back-end 7 System integration Size · Voltages · efficiency Design · datasheet · validated No new CapEx or custom Valida
Slide 26: onsemi Differentiation
onsemi Differentiation Solving Problems with a Complete and Unique Suite of Capabilities TECHNOLOGY NEEDED Peer 1 Peer 2 Peer 3 Peer 4 UNIQUE AND DEFENSIBLE COMPETITIVE POSITION IGBT Silicon MOSFET Power 1500+ patents SiC MOSFET SiC JFET Vertical GaN (GaN-on-GaN) Lateral GaN Syracuse-built, 180+ pat
Slide 27: The constraint is a system constraint
The constraint is a system constraint and must be answered at the device, the intelligence and the integration layer HV TREO EPP T H E D E V IC E T H E IN T E L L IG E N C E THE INTEGRATION Technology for every power problem Analog and mixed-signal platform Silicon as the system Treo Platform Commun
Slide 28: onsemi: Powering the AI Revolution
onsemi: Powering the AI Revolution Achyut Shah Group President, Power Solutions Group
Slide 29: The bottleneck has shifted from chips to power.
Electrical • Thermal • Mechanical • Physical The bottleneck has shifted from chips to power. Jensen Huang Founder, President & CEO © onsemi 2026 | Public Information
Slide 30: Increased Power Demand Creates Architectural Challenges
Increased Power Demand Creates Architectural Challenges Cumulative Data Center Power Consumption Bank of America “800 VDC architecture: a single 300 AC-to-800VDC conversion, distributed and used directly by 240 the compute rack.” GW 180 120 “1,000 homes of power in a 60 filing cabinet.” 2026 2027 20
Slide 31: Power Density Redefines Economics of Compute
Power Density Redefines Economics of Compute Fewer Data Centers More Compute Higher Efficiency Less real estate More tokens/$$ Less water used © onsemi 2026 | Public Information
Slide 32: xPU Power Increase Drives Move to High Voltage
xPU Power Increase Drives Move to High Voltage AC & Low Voltage Distribution and Conversion Lateral Vcore Power Utility Grid Transformer 54VDC Bus Bar PDU 20KVAC 480VAC UPS 480VAC 230VAC HV PSU CBU 54VDC 54VDC Hot Swap 54VDC IBC 12VDC Vcore 0.8VDC xPU 1kW AC → DC → AC AC → DC DC DC → DC DC → DC xPU
Slide 33: High Voltage Reaches the Core – Content Multiplies
High Voltage Reaches the Core – Content Multiplies SST 800V DC AC 800V DC AC $115K per rack 2030 $15K per rack Today Low Voltage High Voltage © onsemi 2026 | Public Information
Slide 34: Grid to Core High Voltage Plays to Our Strength
Grid to Core High Voltage Plays to Our Strength Utility Grid HVDC Bus Bar PDU HV CBU 35KVAC 800VDC 800VDC 800VDC 800VDC 6 V DC 0.8VDC xPU SST PDU Hot Swap HV DC Vcore AC → DC DC DC DC → DC DC → DC CONTENT HV BBU BESS ESS DC-DC Industrial Segment “AI Halo” AI DC Segment More Power, Limited Space More
Slide 35: As Technology Breadth Grows, Competitor Field Shrinks
As Technology Breadth Grows, Competitor Field Shrinks HV Treo EPP Power and Sense Portfolio Utility Grid Multiple Blade Trays per Rack PDU HV CBU 35KVAC 800VDC 800VDC 800VDC 800VDC GPU 6 VDC 0.8VDC SST PDU Hot Swap HV DC Vcore AC → DC DC DC DC → DC DC → DC HV BBU BESS ESS AI Compute Tray DC-DC High
Slide 36: Win with Capability Breadth + Technology Differentiation
Win with Capability Breadth + Technology Differentiation HV Treo EPP Power and Sense Portfolio Utility Grid Multiple Blade Trays per Rack PDU HV CBU 35KVAC 800VDC 800VDC 800VDC 800VDC GPU SST Hot Swap HV DC 6 VDC Vcore 0.8VDC PDU AC → DC DC DC DC → DC DC → DC HV BBU BESS ESS AI Compute Tray DC-DC Hi
Slide 37: vGaN Enables Highest Density 800V → 6V IBC
vGaN Enables Highest Density 800V → 6V IBC HV Treo EPP Power and Sense Portfolio Competitor 1 Competitor 2 vGaN + Unique magnetics = 20% smaller size Higher Power density = More compute in Rack = Lower Cost per token © onsemi 2026 | Public Information
Slide 38: Mechanical to Solid State Fault Protection
Mechanical to Solid State Fault Protection Industry-Standard Mechanical Circuit Breaker Solid State Circuit Breaker High Voltage Architecture needs multiple Fault Protection points © onsemi 2026 | Public Information
Slide 39: EPP + SiC JFET: Redefining the Density Benchmark
EPP + SiC JFET: Redefining the Density Benchmark HV Treo EPP Power and Sense Portfolio Over 50% Smaller Industry-Standard SSCB EPP SSCB © onsemi 2026 | Public Information
Slide 40: EPP + SiC JFET: Redefining the Density Benchmark
EPP + SiC JFET: Redefining the Density Benchmark HV Treo EPP Power and Sense Portfolio Over 50% Smaller Industry-Standard SSCB EPP SSCB 135C 106C 20% cooler Smaller size + Less cooling = Better TCO © onsemi 2026 | Public Information
Slide 41: EPP Enables Highest Vcore Power Density
EPP Enables Highest Vcore Power Density HV Treo EPP Power and Sense Portfolio 2 A/mm² >3 A/mm² Z = 5 mm Z = 2 mm with inductor SPS in EPP With inductor Available now Available 2027 Lateral Power Delivery Vertical Power Delivery 2-Phase SPS + Inductor onsemi enabled 4-Phase VPD In partnership with mo
Slide 42: Higher Power Density → Better Customer TCO → Revenue & Margin Growth
Higher Power Density → Better Customer TCO → Revenue & Margin Growth AI DC TAM CAGR Our technology innovations allow us Growth estimates vary 2026 – 2030 to significantly outgrow the market AI DC Revenue ~40% CAGR baseline Citi 77% >2X in 2026 2X in 2027 0 21% UBS 81% 100 Long-term Growth BofA Mizuh
Slide 43: AI turns power into one connected system. The field shrinks
AI turns power into one The prize grow s Solves the connected system. toughest The field shrinks challenges © onsemi 2026 | Public Information
Slide 44: Expanding the Core: Automotive and Industrial
Expanding the Core: Automotive and Industrial Sudhir Gopalswamy Group President, Analog & Mixed-Signal and Intelligent Sensing Groups
Slide 45: Expanding the Core
Expanding the Core Automotive Industrial © onsemi 2026 | 45 © onsemi 2026 | Public Information
Slide 46: We Have Outgrown Automotive SAAR by 9%
We Have Outgrown Automotive SAAR by 9% By Building a Franchise to Seize Megatrends 9% AUTONOMOUS Growth ductive In Ultrasonic, e, vs. Intelligent Sensing: Imag Flat SAAR ELECTRIFICATION F ET, P o w er IC Intelligent Power: HV FET, MV 2019 Today © onsemi 2026 | Public Information
Slide 47: We Will Continue to Outperform SAAR by 9%
We Will Continue to Outperform SAAR by 9% While Shifting to Higher Value Intelligent Nodes SDV/ZONAL $9B TAM Central “Brain” End-end Ethernet AUTONOMOUS L4 $15B TAM L3 L2 ELECTRIFICATION Efficiency targets $47B TAM Ultra-fast charging EV penetration Today 2030 © onsemi 2026 | Public Information
Slide 48: Intelligent Power Growth Plan
Intelligent Power Growth Plan Extend SiC Technology Expand System Value Change the Game with Leadership with Treo Power ICs EPP © onsemi 2026 | Public Information
Slide 49: SiC Leadership Provides Growth Foundation
SiC Leadership Provides Growth Foundation We Will Continue to Raise the Bar HV Treo EPP Power and Sense Portfolio SiC performance: +25% per generation Extend to 1400V SiC Next-gen M3 1400V SiC M2 Device 1200V SiC Structure 750V M1 SiC Enhancement 400V 800V 1000V Today Battery Battery Battery Today E
Slide 50: Expand System Value: Treo Power ICs
Expand System Value: Treo Power ICs HV Treo EPP Power and Sense Portfolio Power Tree Power Tree Traction & OBC Front/Rear Lighting “Brain” Power Current SPS, DC-DC LDOs LED Drivers Protection Controllers Controllers Enabled by Treo © onsemi 2026 | Public Information
Slide 51: Intelligent Treo SiC Current Controller
Intelligent Treo SiC Current Controller HV Treo EPP Power and Sense Portfolio onsemi Treo Optimized Inverter SiC FET 1-Gen 5% SiC BOM Smart Control Current Sense Boost Savings Intelligent SiC Hall Controller Effect Current Controller Sensors Enabled by Treo Available 2026 Motor Current Sensing Custo
Slide 52: EPP Transforms Inverter Solutions
EPP Transforms Inverter Solutions HV Treo EPP Power and Sense Portfolio State-of-the-art EPP High end 4x 1 Inverter 15% Power Platform Power Density Losses Low end Available 2026 Customer Value Power Density → Smaller, Lighter → Flexibility ELECTRIFICATION Scalability → Lower R&D & Manufacturing Cos
Slide 53: Intelligent Sensing Growth Plan
Intelligent Sensing Growth Plan Capitalize on Sensor Extend Sensing Enhance Vision with Proliferation Performance New Image Sensing Leadership with Treo Modalities © onsemi 2026 | Public Information
Slide 54: Broadest Range of Sensing Solutions
Broadest Range of Sensing Solutions AUTONOMOUS $15B TAM Image Ultrasonic Inductive © onsemi 2026 | Public Information
Slide 55: Sensors Proliferate As Autonomy Scales
Sensors Proliferate As Autonomy Scales 2030 3x 1.5x 1.5x AUTONOMOUS Image Ultrasonic Inductive $15B TAM Sensors Sensors Sensors L2 → L4 More use cases x-by-wire extends 2026 © onsemi 2026 | Public Information
Slide 56: Raising the Bar on Intelligent Sensing
Raising the Bar on Intelligent Sensing Image Sensing Ultrasonic Sensing Inductive Sensing SER Discrete >20x Image Sensor Serializer 20+ cm › 6 cm › <1 cm › Current Gen Next Gen Next- Gen SER Legacy Today Next-gen ~0.1° <0.005° AUTONOMOUS $15B TAM Available 2027 Available 2027 Available 2027 Enabled
Slide 57: Enhancing Vision for the Next Phase of Perception
Enhancing Vision for the Next Phase of Perception PERCEPTION STACK CHALLENGES Vision Adverse weather conditions AUTONOMOUS $15B TAM Radar Spatial resolution Lidar System cost © onsemi 2026 | Public Information
Slide 58: Superhuman Vision
Enhancing Vision for the Next Phase of Perception Superhuman Vision SWIR See through fog and rain Industrial available today, Auto in Advanced R&D AUTONOMOUS $15B TAM High-res depth at <15M iToF Detect hazard at 100M Industrial available today, Auto in Proof-of-concept Vision Capture detail in any l
Slide 59: New Growth Driver: Software Defined Vehicle/Zonal
New Growth Driver: Software Defined Vehicle/Zonal Expand Content and Intelligence at the Nodes © onsemi 2026 | Public Information
Slide 60: New Growth Driver: SDV/Zonal
New Growth Driver: SDV/Zonal Domain-Based IVN Zonal w/ 10BT1S Zonal w/ onsemi RCP (Today) SDV/ZONAL RCP 10BT1S 10BT1S $9B TAM BODY ADAS ZONAL ZONAL ZONAL ZONAL ADAS CONTROLLER CONTROLLER SWITCH SWITCH CENTRAL CENTRAL ECU COMPUTE COMPUTE POWER- TRAIN GbE GbE ZONAL ZONAL ZONAL ZONAL CONTROLLER CONTROL
Slide 61: New Growth Driver: SDV/Zonal
New Growth Driver: SDV/Zonal Basic Ethernet Node Ethernet Node with RCP Treo Intelligent Node SDV/ZONAL $9B TAM CENTRAL COMPUTE CENTRAL COMPUTE CENTRAL COMPUTE ZONAL CONTROLLER ZONAL SWITCH $ ZONAL SWITCH $ $$$ Ultrasonic LED Node Ultrasonic Ultrasonic Node Node LED Node Node LED Node MCU w/ MCU w/
Slide 62: Leading the SDV Evolution
Leading the SDV Evolution Basic Ethernet Node Ethernet Node with RCP Treo Intelligent Node CENTRAL COMPUTE CENTRAL COMPUTE CENTRAL COMPUTE SDV/ZONAL $9B TAM ZONAL CONTROLLER ZONAL SWITCH $ ZONAL SWITCH $ $$$ Ultrasonic LED Node Ultrasonic Ultrasonic Node Node LED Node Node LED Node In Production Des
Slide 63: Building the Car: onsemi in Every Subsystem
Building the Car: onsemi in Every Subsystem Vehicle Electrification xEV HEV / PHEV / BEV 48V Transition • EPP • HV Si FET • EliteSiC FET • GaN/SiC Gate Drivers, LDO's • SiC Current Controller • SmartFET/eFuse Zonal Electronics • Auto LED Drivers • SmartFET/eFuse • 10BASE-T1S Ethernet • CAN/LIN • Sta
Slide 64: Automotive Innovations…
Automotive Innovations… ULTRASONIC PARK ASSIST INDUCTIVE SiC X-BY-WIRE TRACTION INNOVATION ENGINE 10BASE-T1S IMAGE SENSING IVN ADAS © onsemi 2026 | Public Information
Slide 65: Automotive Innovations… Enable Growth in Industrial…
Automotive Innovations… Enable Growth in Industrial… ULTRASONIC FLOW METERING INDUCTIVE SiC JOINT CONTROL ENERGY INFRASTRUCTURE INNOVATION ENGINE 10BASE-T1S IMAGE SENSING ETHERNET NODES MACHINE VISION © onsemi 2026 | Public Information
Slide 66: …and Lead to the Next Major Growth Opportunity
…and Lead to the Next Major Growth Opportunity The Era of Physical AI SENSE Perception of the physical world POWER CONTROL Efficient power conversion Precise actuation and control © onsemi 2026 | Public Information
Slide 67: The Era of Physical AI has Already Begun
The Era of Physical AI has Already Begun Autonomous machines that sense, decide, act and adapt Autonomous AUTONOMY Delivery Cars Robots Autonomous Tractors Robot Vacuums Drones Warehouse AMRs Cobots Factory Arms POWER, PERFORMANCE © onsemi 2026 | Public Information
Slide 68: The Evolution to Humanoids Yields Content Expansion
The Evolution to Humanoids Yields Content Expansion + Autonomy, Legs Warehouse Legged AMRs AMR Physical AI: + Gripper Hands, Force Sensing $6B Factory Arms Dexterous TAM by 2030 Hands + Multi-modal VLA, Reasoning Autonomous “Reasoning” Cars Vehicles © onsemi 2026 | Public Information
Slide 69: Building the Humanoid: onsemi in Every Subsystem
Building the Humanoid: onsemi in Every Subsystem Vision Systems HEAD/PERCEPTION Power Tree TORSO/COMPUTE • Image sensors • eFuse • iToF sensors • SiC/MOSFET • SWIR NECK • DC-DC/LDOs • DC-DC/LDOs POWER SYSTEM 30+ Limb Actuators SHOULDERS • 6x GaN FET CORE SENSORS Sensors • 3x GaN Driver • Inductive s
Slide 70: Expanding the Core: Automotive and Industrial Value Drivers
Expanding the Core: Automotive and Industrial 2030 9% 10% CAGR CAGR Value Drivers EPP Disruption: System Play Leverage Auto: SAM Expansion Intelligent Sensing: Content Expansion Physical AI: New Growth Engine SDV/Zonal: New Growth Engine AI Halo: New Growth Engine Automotive Industrial Today Deliver
Slide 71: Turning Technology Leadership into Durable Financial Performance
Turning Technology Leadership into Durable Financial Performance Thad Trent Executive Vice President and CFO
Slide 72: Market Inflection. Differentiated Capabilities. Shareholder Value Creation.
Market Inflection. Differentiated Capabilities. Shareholder Value Creation. HIGH-VALUE, SECULAR MARKETS DIFFERENTIATED CAPABILITIES AI Data Center, Automotive, Industrial Differentiated technology expands margins © onsemi 2026 | Public Information
Slide 73: The Power of onsemi's Transformation
The Power of onsemi’s Transformation Non-GAAP Revenue Avg. Gross Margin Avg. Operating Margin Structural step function margin 43% improvement • Differentiated products, Fab Right, portfolio rationalization – completed exits of ~$900M 36% annualized 26% Higher Operating leverage • Improved cost struc
Slide 74: The Power of onsemi's Transformation
The Power of onsemi’s Transformation Non-GAAP Revenue Avg. Gross Margin Structural step function margin improvement Avg. Free Cash Flow Margin • Differentiated products, Fab Right, portfolio rationalization – completed exits of ~$900M 43% annualized 36% Higher Operating leverage • Improved cost stru
Slide 75: Strategic Investments Drive Significant TAM Expansion
Strategic Investments Drive Significant TAM Expansion 2021-2026 Auto Total Investment: $8.7B Treo Platform Power Distribution & Traction +$20B Low/Medium/High Voltage ADAS & Sensing TAM R&D Zonal architecture Organic Investments EPP $3.6B Sensing, 8MP, Ultrasonic Industrial Factory Automation & Robo
Slide 76: Enabling Innovation Across a Global Customer Base
Enabling Innovation Across a Global Customer Base Highly diversified customer footprint spanning 9,000+ customers globally AUTOMOTIVE INDUSTRIAL AI DATA CENTER Deep strategic engagements addressing customers’ most complex engineering challenges Broad global distribution network to serve the mass mar
Slide 77: Innovation and Portfolio Breadth Accelerates Growth
Innovation and Portfolio Breadth Accelerates Growth Non-GAAP CAGR 2026E - 2030 Target Auto Drivers: electrification, Software-Defined Vehicles/Zonal, ADAS ~$2,000 content per vehicle Outgrowing SAAR by high single digits 9% Industrial Drivers: AI Halo, energy infrastructure, automation, medical, AD&
Slide 78: Fab Right: Building a More Efficient, Scalable Manufacturing Network
Fab Right: Building a More Efficient, Scalable Manufacturing Network 2019 Footprint: More efficient capacity Current Footprint: Fab-Liter drives gross margin Fab Right expansion Right sized, ready to scale on demand Aizu East Minimal CapEx needed to scale Fishkill (5% of revenue) Exited five subscal
Slide 79: Growth and Innovation Drive Gross Margin Expansion
Growth and Innovation Drive Gross Margin Expansion Non-GAAP 400 bps 53% Utilization 225 bps • Volume driven ramp to full utilization 650 bps • Absorption of fixed costs 40.3% Fab Right • Additional efficiency and cost optimization • Capacity allocated to high value products • Two site divestitures r
Slide 80: Top-line Growth → Outsized Earnings Growth
Top-line Growth → Outsized Earnings Growth Structural changes, innovation and execution deliver significant operating leverage Revenue +12-14% Gross Profit $ +22% Operating Income $ +30% 0% 10% 20% 30% Non-GAAP CAGR, 2026E – 2030 Target Gross profit grows 1.6x faster than revenue; operating income m
Slide 81: Free cash flow more than doubling by 2030
Free cash flow more than doubling by 2030 Monetizing Investments through scale and efficiency ~$3.5B (30-35%) $1.6B Investment Era (25%) 2020 2021 2022 2023 2024 2025 2026E 2030 Target 2023-2026E: Share repurchase of $4.2B, 92% of FCF → 12% reduction in shares © onsemi 2026 | Public Information
Slide 82: Disciplined Capital Allocation Compounds Shareholder Value
Disciplined Capital Allocation Compounds Shareholder Value REINVEST STRATEGIC BALANCE RETURN M&A SHEET CASH Fund the highest- Expand the Preserve resilience Repurchase shares return growth portfolio selectively and flexibility consistently Differentiated products, Add capabilities to expand Maintain
Slide 83: Technology Leadership Powers Shareholder Value
Technology Leadership Powers Shareholder Value Non-GAAP 2025A 2026E 2030 TARGET Revenue $6.0B $6.5B +12-14% Growth driven by highly differentiated products CAGR in fast growing markets Gross Margin 38.4% 40.3% 53% Utilization, high-value new products, and Fab Right Operating Expenses 19.8% 18.5% 15%
Slide 84: Synaptics Accelerates Financial Model
Synaptics Accelerates Financial Model Synaptics Standalone Non-GAAP Post-Synergies Revenue $6.0B >15%$6.5B +12-14% Leverage onsemi sales Growth channel to highly driven by broaden customer products differentiated base, increase content per platform, CAGR and forin cross selling.markets fast growing
Slide 85: Technology Leadership Powers Shareholder Value
Technology Leadership Powers Shareholder Value Non-GAAP 2025A 2026E 2030 TARGET Revenue $6.0B $6.5B +12-14% Growth driven by highly differentiated products CAGR in fast growing markets Gross Margin 38.4% 40.3% 53% Utilization, high-value new products, and Fab Right Operating Expenses 19.8% 18.5% 15%
Slide 86: The Power of onsemi's Transformation
The Power of onsemi’s Transformation Non-GAAP REVENUE 53% GM Accelerated growth, AVG GROSS MARGIN differentiated portfolio investments and Fab Right AVG FREE CASH FLOW MARGIN for gross margin expansion AVG OPERATING MARGIN 43% Streamlined manufacturing 38% OM structure and OpEx efficiency drive sign
Slide 87: Market Inflection. Differentiated Capabilities. Shareholder Value Creation.
Market Inflection. Differentiated Capabilities. Shareholder Value Creation. HIGH-VALUE, SE CULAR MARKETS DIFFERE NTIATED CAPABILITIES COMPOUNDING FINANCIALS AI data center, automotive, industrial Differentiated technology expands margins Non-GAAP · 2026E → 2030 Target AI Data Center Unmatched brea
Slide 88: Follow us @onsemi
Follow us @onsemi A black A blue circle A blue and background with a white black logo with a black letter f in it square Description Description onsemi.com Description automatically onsemi.com © onsemi 2026 © onsemi 2026 | 88
Slide 89: Appendix
APPENDIX © onsemi 2026 | 89 © onsemi 2026
Slide 90: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Reconciliation of GAAP to Non-GAAP Gross Margin Fiscal Year FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 GAAP Gross Margin 34.1% 33.2% 36.7% 38.1% 35.8% 32.7% a) Amortization of fair market value step-up of inventory 0.0% 1.7% 0.2% 0.0% 0.4% 0.0% b) Actu
Slide 91: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Reconciliation of GAAP to Non-GAAP Operating Margin Fiscal Year FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 GAAP Operating Margin 7.5% 6.0% 12.3% 14.4% 7.8% 6.6% a) Amortization of acquisition-related intangible assets 3.9% 2.7% 2.2% 1.9% 2.1% 2.3% b) R
Slide 92: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation (in millions, except percentages) Reconciliation of GAAP to Non-GAAP Operating Expenses FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 GAAP Operating Expenses $ 932.1 $ 1,060.8 $ 1,352.9 $ 1,391.5 $ 1,540.9 $ 1,367.1 a) Amortization of acquisition-related
Slide 93: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation (in millions, except percentages) Reconciliation of GAAP to Non-GAAP Operating Expenses FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 GAAP Operating Expenses $ 1,426.7 $ 1,717.2 $ 1,344.8 $ 1,448.4 $ 1,899.7 a) Amortization of acquisition-related intangible asset
Slide 94: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation (in millions, except percentages) Reconciliation of net cash provided by operating activities to free cash flow Fiscal Year FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Net cash provided by operating activities $ 470.6 $ 581.2 $ 1,094.2 $ 1,274.2 $ 694.7
Slide 95: Notes and Sources
Notes and Sources Charting a Path to Power the Next Decade of Innovation Hassane El-Khoury, President and CEO $5.3B remaining under the existing authorization. • As reported through Q2’2026 2026 estimates are based on consensus
Slide 96: Notes and Sources
Notes and Sources onsemi: Powering the AI Revolution Achyut Shah, Group President, Power Solutions Group GPU Rack Power (kW per Rack) vs Deployment Horizon Graph • McKinsey & Company – The shift to 800-volt DC at data centers: Implications for providers, published July 2026 Cumulative New Data Cente
Slide 97: Notes and Sources
Notes and Sources Expanding the Core: Automotive and Industrial Sudhir Gopalswamy, Group President, Analog & Mixed-Signal and Intelligent Sensing Groups ~0% SAAR 2019-26, 2026-2030 • Bloomberg Auto SAAR Factset 26E (0.39%) Physical AI: $6B TAM in 2030 • onsemi estimates, Yole, Omdia projections for:
Slide 98: Notes and Sources
Notes and Sources Turning Technology Leadership into Durable Financial Performance Thad Trent, Executive Vice President and CFO What you are used to seeing (images) • Maximize Market Research Pvt. Ltd • Deloitte and Mordor Intelligence • KBV Research • Yole Sustainable Ecosystem ‘22-’27 TAM CAGRs •
Slide 99: Cautionary Information
Cautionary Information No Offer or Solicitation This communication is for informational purposes only and does not constitute, or form a part of, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any s
Slide 100: Cautionary Information
Cautionary Information Participants in the Solicitation Synaptics, onsemi, and certain of their respective directors, executive officers and other members of management and employees, under SEC rules may be deemed to be participants in the solicitation of proxies from Synaptics stockholders in conne