Slide 1: Quarterly Investor Presentation Second Quarter 2026
Quarterly Investor Presentation Second Quarter 2026 © onsemi 2026 | Public Information © onsemi 2026 | Confidential | 1
Slide 2: Safe Harbor Statement and Non-GAAP and Forecast Information
Safe Harbor Statement and Non-GAAP and Forecast Information This presentation includes “forward-looking statements,” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statem
Slide 3: Second Quarter 2026 Financial & Business Update
Second Quarter 2026 Financial & Business Update © onsemi 2026 | Public Information © onsemi 2026 | Public Information | 3 3
Slide 4: Q2'26 Highlights
Q2’26 Highlights Announced agreement to Exceeded the midpoint of acquire Synaptics, adding guidance for revenue, non- connected compute capabilities GAAP gross margin and EPS at accretive gross margins Year-over-year non-GAAP Raised AI data center outlook: EPS growth outpaces Revenue expected to mor
Slide 5: Q2'26 Non-GAAP Financial Performance
Q2’26 Non-GAAP Financial Performance Gross Operating Diluted LTM FCF Revenue Margin Margin EPS Margin $1.60B 39.3% 20.8% $0.74 24.2% +6% Q/Q +80 bps Q/Q +170 bps Q/Q +$0.10 Q/Q +410 bps Y/Y Automotive Industrial Other $781m Revenue $423m Revenue $400m Revenue 2% Q/Q 1% Q/Q 34% Q/Q Our earnings relea
Slide 6: Strategic Announcements
Strategic Announcements onsemi Announces onsemi Announces onsemi Introduces agreement to acquire Issuance of Private GaNEXUS Gallium Synaptics, adding Offering of $1.3 Billion Nitride Power Portfolio connected compute of 0% Convertible capabilities at accretive Senior Notes gross margins View all pr
Slide 7: Q3'26 Guidance Highlights
Q3’26 Guidance Highlights Revenue GM OPEX EPS GAAP: GAAP: GAAP: GAAP: $1,650 to $1,750m 39.9% to 41.9% $318 to $333m $0.79 to $0.91 Non-GAAP: Non-GAAP: Non-GAAP: Non-GAAP: $1,650 to $1,750m 40.0% to 42.0% $303 to $318m $0.81 to $0.93 Our earnings release and this presentation include certain non-GAA
Slide 8: About onsemi
About onsemi © onsemi 2026 | Public Information © onsemi 2026 | Public Information | 8 8
Slide 9: onsemi at a glance
onsemi at a glance Our Mission We push innovation to create intelligent power and sensing technologies that solve the most challenging customer problems Our employees are inspired to go above and beyond to increase stakeholder value through high quality and high value products and services 24% 8.6x
Slide 10: Intelligent Power Solutions
Intelligent Power Solutions Wide Bandgap – SiC, GaN, VGaN Silicon Power – IGBT, FET Analog and Mixed-Signal ICs 1 ▪ High efficiency and longer-range – ▪ Leading FET and IGBT supplier with ▪ Double down on $36B TAM with >70% Superior EliteSiC device technology growing market share gross margin ▪ High
Slide 11: Intelligent Sensing Solutions
Intelligent Sensing Solutions The onsemi Advantage Solution Decades of Enablement Innovation • Devware Installed base of • Ref Designs >600m automotive • Ecosystem Automotive & sensors Industrial Focus Market leader in high- performance image Superior sensors Technology • High Dynamic Range • Indust
Slide 12: Automotive Solutions
In-Cabin Solutions ADAS and Autonomous • Driver Monitoring Systems (DMS) Automotive Solutions Driving Solutions • Occupancy Monitoring Systems • Front Sensing Systems (OMS) • Surround Sensing Systems • Autonomous Parking Assist • Autonomous Driving Viewing Solutions • Surround View Systems (SVS) • C
Slide 13: Driving Innovation and Growth in Industrial
Driving Innovation and Growth in Industrial Factory Medical Automation Continuous glucose Robotics, industrial monitors, hearing and warehouse health, imaging automation, equipment, humanoids Traditional Industrial diagnostic Power tools, HVAC, building automation, Aerospace, motor control Energy De
Slide 14: AI Data Center: Power Delivery from the Grid to the Core
AI Data Center: Power Delivery from the Grid to the Core 54VDC Bus Bar Utility Grid Intermediate Multiple Blade Trays per Rack Power Supply Hot Swap VCore PDU Bus Converters GPU 20kVAC 480VAC UPS 480VAC 54VDC CBU 230VAC HV PSU 54VDC Hot Swap IBC VCore 120kW 54VDC 12VDC 0.8VDC AC→ DC→ AC AC → DC C DC
Slide 15: Transforming Analog & Mixed-Signal Leadership into Sustainable Growth
Transforming Analog & Mixed-Signal Leadership into Sustainable Growth $36B1 Addressable Market Industry-Leading Technology Across High-Growth • 65nm BCD process with 1-90V operating range Segments • High-performance analog, integrated power management • Automotive (EV, ADAS, • Unmatched system integ
Slide 16: Vertical GaN: Investable Edge in High Power Density
Vertical GaN: Investable Edge in High Power Density AI Data Centers Renewable Energy Electric Vehicles Aerospace, Defense & Security Smaller 800V power converters Higher-efficiency solar and Faster charging & smaller, Compact, rugged, reliable → higher rack compute density wind power conversion more
Slide 17: Power of the Portfolio Driving onsemi Growth
Power of the Portfolio Driving onsemi Growth AI Data Center1 Electric Vehicles2 $47.5B $63.5B 72% CAGR 12% CAGR Energy Infrastructure2 $213B TAM Advanced Safety2 $11.4B by 2030 $19.4B 24% CAGR 16% CAGR Factory Automation2 AD&S2 $13.7B $14.0B 9% CAGR 9% CAGR 1. AI data center based on onsemi projecti
Slide 18: Accelerating Shareholder Value – Non-GAAP
Accelerating Shareholder Value – Non-GAAP Levered to accelerating demand for power and sensing Revenue Growth Aligned to secular trends in Automotive, Industrial and AI Data Center Significant gross margin expansion to 53% Gross Fab Right: optimize manufacturing network for cost efficiencies. Margin
Slide 19: Accelerating the Financial Model – Non-GAAP
Accelerating the Financial Model – Non-GAAP 2025 Long-Term Actuals Target 10-12% Revenue $6.0B • Grow at ~3x the semiconductor industry CAGR • Mix shift, new products & Treo platform ramp Gross Margin 38.4% 53% at accretive margins • Optimize cost through Fab Right Operating • Invest in R&D for long
Slide 20: Appendix
Appendix © onsemi 2026 | Public Information © onsemi 2026 | Public Information | 20 20
Slide 21: Non-GAAP Financial Performance
Non-GAAP Financial Performance Long- 2025 Q1’26 Q2’26 Q3’26 Term Actual Actual Actual Guide Target 10-12% Revenue 1,650 to • Q2’26 revenue exceeded the midpoint of 5,995.4 1,513.3 1,603.5 CAGR ($ millions) 1,750 guidance 40.0% to • Q2’26 gross margin up 80 bps Q/Q. Fourth Gross Margin 38.4% 38.5% 39
Slide 22: Q3'26 Guidance
Q3’26 Guidance GAAP Special Items** Non-GAAP*** Revenue $1,650 to $1,750 million - $1,650 to $1,750 million Gross Margin 39.9% to 41.9% 0.1% 40.0% to 42.0% Operating Expenses $318 to $333 million $15 million $303 to $318 million Other Income and Expense ($18 million) - ($18 million) (including inter
Slide 23: Notes to Q3'26 Guidance
Notes to Q3’26 Guidance * Diluted shares outstanding can vary as a result of, among other things, the vesting of restricted stock units, the incremental dilutive shares from the convertible notes, and the repurchase or the issuance of stock or convertible notes or the sale of treasury shares. In per
Slide 24: GAAP to Non-GAAP Reconciliation ($ millions)
GAAP to Non-GAAP Reconciliation ($ millions) FY 2025 Q1’26 Q2’26 Reconciliation of GAAP to Non-GAAP Gross Margin: GAAP Gross Margin 33.1% 38.5% 38.4% a) Amortization of intangible assets 0.1% 0.1% 0.1% b) Restructuring-related inventory and other charges 5.2% (0.1)% 0.8% c) Amortization of fair mark
Slide 25: GAAP to Non-GAAP Reconciliation ($ millions, except share count and EPS)
GAAP to Non-GAAP Reconciliation ($ millions, except share count and EPS) FY 2025 Q1’26 Q2’26 $ 121.0 $ (33.4) $ 226.8 GAAP Net Income Attributable to ON Semiconductor Corporation a) Amortization of intangible assets 49.4 11.7 11.7 b) Restructuring, asset impairments and other, net 666.9 329.3 41.2 c
Slide 26: Notes & Sources
Notes & Sources Intelligent Power Solutions (Slide 10) • onsemi estimates based on current market projections. • IHS-Omdia Intelligent Sensing Solutions (Slide 11) • onsemi estimates based on current market projections. • Power of the Portfolio Driving onsemi Growth (Slide 17) • onsemi estimates bas
Slide 27: Follow us @onsemi
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