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1 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | © onsemi 2026 | Public Information Quarterly Investor Presentation Third Quarter 2026
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2 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | This presentation includes “forward - looking statements,” as that term is defined in Section 27A of the Securities Act of 1933, a s amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of histori cal facts, included or incorporated in this presentation could be deemed forward - looking statements, particularly statements about t he future financial performance of onsemi, including financial guidance for the fourth quarter of 2026. Forward - looking statements are often characterized by the use of words such as “believes,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “pl ans ,” “anticipates,” “should” or similar expressions or by discussions of strategy, plans or intentions. All forward - looking statement s in this document are made based on our current expectations, forecasts, estimates and assumptions and involve risks, uncertainties an d other factors that could cause results or events to differ materially from those expressed in the forward - looking statements. Ce rtain factors that could affect our future results or events are described under Part I, Item 1A “Risk Factors” in the 2025 Annual Rep ort on Form 10 - K filed with the Securities and Exchange Commission (“SEC”) on February 9, 2026 (the “2025 Form 10 - K”) and from time to time in our other SEC reports. You are cautioned not to place undue reliance on forward - looking statements. We assume no obligat ion to update such information, which speaks only as of the date made, except as may be required by law. Investing in our securit ies involves a high degree of risk and uncertainty, and you should carefully consider the trends, risks and uncertainties describ ed in this document, our 2025 Form 10 - K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties actually occurs or continues, our business, financi al condition or operating results could be materially adversely affected, the trading prices of our securities could decline, and you could l ose all or part of your investment. All forward - looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. Our earnings release and this presentation include certain non - GAAP financial measures. Reconciliations of these non - GAAP financ ial measures to the most directly comparable measures under GAAP are included in our earnings release, which is posted separately on our website in the "Investor Relations" section. See Appendix for GAAP to Non - GAAP Reconciliation. Safe Harbor Statement and Non - GAAP and Forecast Information
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3 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Q3’26 Highlights EPS grew four times faster than revenue growth year - over - year for the third consecutive quarter Exceeded the midpoint of guidance for revenue, non - GAAP gross margin and EPS Revised Synaptics merger terms to deliver immediate EPS accretion upon close Delivered fifth consecutive quarter of non - GAAP gross margin expansion AI data center revenue grew 39% sequentially and 175% year - over - year Our earnings release and this presentation include certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measures under GAAP are included in our earnings release, which is posted separately on our website in the "Investor Relations" section. See Appendix for GAAP to Non-GAAP Reconciliation. Introduced Embedded Power Platform (EPP), delivering industry - leading 3 - 5x higher power density
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4 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Automotive $777m -1% Q/Q Q3’26 Non - GAAP Financial Performance Our earnings release and this presentation include certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measures under GAAP are included in our earnings release, which is posted separately on our website in the "Investor Relations" section. See Appendix for GAAP to Non-GAAP Reconciliation. Revenue $1.72B +7% Q/Q Gross Margin 41.2% +190 bps Q/Q Operating Margin 23.2% +240 bps Q/Q Diluted EPS $0.90 +$0.16 Q/Q LTM FCF Margin 25.4% +350 bps Y/Y REVENUE BY END MARKET Industrial $467m +10% Q/Q Other $299m +11% Q/Q AI Data Center $180m +39% Q/Q
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5 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Strategic Announcements onsemi Introduces the Embedded Power Platform, a Breakthrough Architecture for the AI Era Subaru to Evaluate onsemi's Embedded Power Platform for Future EVs onsemi and Synaptics Announce Revised Merger Agreement reducing purchase price to $5.7B from $7B View all press announcements at: onsemi.com/company/news - media/press - announcements
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6 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | G U I D A N C E A T A G L A N C E REVENUE $1,765m M I DPOI NT GAAP $1,715m – $1,815m NON-GAAP $1,715m – $1,815m GROSS MARGIN 42.5% M I DPOI NT GAAP 41.4% – 43.4% NON-GAAP 41.5% – 43.5% OPEX $311m M I DPOI NT GAAP $331m – $346m NON-GAAP $303m – $318m EPS $1.01 M I DPOI NT GAAP $0.88 – $1.00 NON-GAAP $0.95 – $1.07 Our earnings release and this presentation include certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measures under GAAP are included in our earnings release, which is posted separately on our website in the "Investor Relations" section. See Appendix for GAAP to Non-GAAP Reconciliation. Midpoint reflects Non-GAAP financial figures. Q4’26 Guidance Highlights
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7 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | 7 © onsemi 2026 | Public Information onsemi Overview
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8 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | The Technology Constraint has Shifted from Power to Power Density WE SOLVED POWER NOW WE SOLVE POWER DENSITY POWER OF TODAY WE SOLVED THE POWER OF YESTERDAY ELECTRICAL (COMPONENTS) MULTI - PHYSICS SYSTEMS More watts → Bigger → Centralized More watts → Smaller → Distributed Electrical Convert, control and distribute power efficiently Thermal Move heat before it limits performance Mechanical Withstand stress and enable reliability Physical Design within the limits of physics MORE POWER. LESS SPACE. HIGHER EFFICIENCY. UNMATCHED RELIABILITY.
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9 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Solving The Power Density Problem with Complete and Unique Suite of Capabilities EPP THE INTEGRATION Silicon as the system TREO THE INTELLIGENCE Analog and mixed - signal platform HV THE DEVICE Technology for every power problem Treo Platform Application - Specific Interfaces Communications Subsystem Power Control Power Subsystem DC - DC Driver Power FET Power Subsystem High - Performance AFE Low - Power AFE Compute & System Resources Subsystem Compute Voltage/Clock Standard I/O Memory Test Peripherals Vertical GaN (GaN-on-GaN) Syracuse-built, 180+ patents, 700 V & 1200 V sampling EPP Built on Si wafer with mixed dies to solve the power density problem Power (Silicon, SiC and GaN) Solutions spanning the full 0.8V–800V power tree Treo Platform BCD 65nm technology process has best performance & power The onsemi Advantage
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10 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | onsemi’s Embedded Power Platform The silicon becomes the system. EPP is the breakthrough that creates a new category of power systems. Embedded Power Platform (EPP) uses the silicon wafer itself as the package, embedding heterogeneous die to deliver electrical, mechanical and thermal performance simultaneously, solving the density problem. Not a product. A platform. 3–5× UNMATCHED POWER DENSITY 30% HIGHEST SYSTEM VALUE 12 in. STANDARD MANUFACTURING 4 MOS FASTEST TIME TO MARKET ✓ SUPERIOR THERMAL PERFORMANCE BEST - IN - CLASS INDUCTANCE ✓
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11 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Vertical GaN: Investable Edge in High Power Density Smaller 800V power converters → higher rack compute density & lower conversion loss AI Data Centers Compact, rugged, reliable power systems for mission - critical platforms Aerospace, Defense & Security Faster charging & smaller, more efficient inverters → range & weight benefits Electric Vehicles Higher - efficiency solar and wind power conversion → better yield per installed watt Renewable Energy GaN - on - GaN vertical current flow delivers higher current density, higher voltage handling and faster switching than silicon and SiC → translating to materially higher power density at high frequency. Breakthrough Built on onsemi proprietary GaN processes in a 66K sq ft facility in Syracuse, NY with 20K sq ft cleanroom – leads to reduced defects and increased reliability. Manufacturing Excellence onsemi is first to scale vertical GaN ; 700V/1,200V devices already sampling to early - access customers with volume production targeted for late 2026. Leading in Scale
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12 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | AI Data Center: Power Delivery from the Grid to the Core • Expect AI data center revenue to more than double year-over-year in 2026 and double again in 2027 • onsemi’s addressable content increases as power density of AI data center racks increases • onsemi has the most comprehensive technology portfolio to address increasing power density – Si, SiC FET, SiC JFET, GaN and vGaN, addressing the complete power tree from 0.8V to 800V • onsemi’s unique ability to address both high and low voltages accelerates long-term growth as the AI data center power tree compresses with increasing power density Compute Rack HV DC VCore 12 / 6 V DC 0.8V DC Hot Swap AI Compute Tray Multiple Blade Trays per Rack DC Hot Swap DC → DC HV DC DC → DC VCore PDU HV DC Bus Bar Utility Grid Site Power SST AC → DC Power Rack HV BBU PDU DC 800V DC 800V DC 35KV AC 800V DC 800V DC 800V DC BESS Data Center Rack Intermediate Bus Converters VCore 12V DC 0.8V DC Hot Swap AI Compute Tray 54V DC Multiple Blade Trays per Rack C Hot Swap Smart Power Stage Multiphase Controllers Point of Load DC DC → DC IBC DC → DC VCore Site Power Power Supply PDU 54V DC Bus Bar Uninterruptible Power Supply Utility Grid UPS AC→ DC→ AC CBU BBU HV PSU AC → DC 230V AC 480V AC 480V AC 54V DC 20kV AC 120kW onsemi opportunity ~$15K per rack Today 600kW - 1MW onsemi opportunity ~$115K per rack 2030 ESS DC-DC 2030: Next generation is 800V high voltage DC, opening opportunities for WBG content, incl. SiC MOSFET, SiC JFET and GaN Today: Currently at Low Voltage 54V Low Voltage DC Bus GPU GPU 54V DC HV CBU Source: onsemi estimates based on current market projection
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13 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Building the Car: onsemi in Every Subsystem, outgrowing SAAR by 9% Up to $2000 of onsemi content per vehicle Existing Portfolio Recently Added Products ADAS and Autonomous Driving Solutions • 8Mp, 3Mp image sensor • iToF • SWIR • Ultrasonic Sensing • Inductive Sensing • Rain & Light Sensing Zonal Electronics • Auto LED Drivers • SmartFET / eFuse • 10BASE - T1S Ethernet • CAN/LIN • Standard Products (LDOs, Amps) • Small Signal Protection HEV / PHEV / BEV • EPP • EliteSiC FET • SiC Current Controller 48V Transition • HV Si FET • GaN/SiC Gate Drivers, LDO's • SmartFET /eFuse Vehicle Electrification xEV Source: onsemi estimates based on current market projection
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14 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | AI HALO Power infrastructure extends beyond AI/DC ENERGY INFRASTRUCTURE Grid modernization expands demand TRADITIONAL INDUSTRIAL Stable installed base supports resilience FACTORY AUTOMATION Precision enables smarter automation AD&S High-reliability sensing platforms MEDICAL Specialized imaging and precision power Diverse and Expanding Industrial Opportunity Power generation and EV charging stations Satellites, space exploration, weapon systems, commercial aviation Robotics, industrial and warehouse automation, humanoids Power tools, HVAC, building automation, motor control Continuous g lucose monitors, hearing health, imaging equipm ent , diagnostic Utility-side grid upgrades and high-voltage Energy Storage Systems (ESS)
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15 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Disciplined Capital Allocation Compounds Shareholder Value RETURN CASH Repurchase shares consistently Return 100% of free cash flow through share repurchases. $5.3B remaining under the existing authorization 1 . BALANCE SHEET Preserve resilience and flexibility Maintain strong liquidity and leverage profile. STRATEGIC M&A Expand the portfolio selectively Add capabilities to expand TAM and accelerate time to market. Clear strategic and financial merit enhancing the financial model. REINVEST Fund the highest - return growth Differentiated products, R&D and capacity investments that strengthen competitive advantage. 1. As of Q3’2026
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16 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Technology Leadership Powers Shareholder Value Non - GAAP Non-GAAP tax rate remains at 15% through 2030 Revenue $ 6.0 B 2025A Gross Margin 38.4 % Operating Expenses 19.8 % Operating Margin 18 . 6 % CapEx Free Cash Flow 5.7 % 23.7 % +12 - 14 % CAGR • Growth driven by highly differentiated products in fast - growing markets 2030 TARGET 53% • Utilization, high - value new products, and Fab Right 1 5 % • Targeted R&D investment to expand capabilities and TAM 38 % • Operating income grows >2x revenue growth ~5 % 30 - 35 % • CapEx - light model for optimal capital allocation • Monetizing investments through scale and efficiency • Target to return 100% of Free Cash Flow through share repurchases
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17 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | 17 © onsemi 2026 | Public Information Appendix
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18 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | 2025 Actual Q1’26 Actual Q2’26 Actual Q3’26 Actual Q4’26 Guide Long - Term Target Revenue ($ millions) 5,995.4 1,513.3 1,603.5 1,722.3 1,715 to 1,815 +12 - 14% CAGR • Q3’26 revenue exceeded the midpoint of guidance Gross Margin 38.4% 38.5% 39.3% 41.2% 41.5% to 43.5% 53% • Q3’26 gross margin up 190 bps Q/Q. • Fifth consecutive quarter of gross margin expansion Operating Expenses ($ millions) 1,185.4 293.7 296.8 309.5 303 to 318 15% • Tight cost control with investments in differentiated products – low OpEx growth drives operating leverage Operating Margin 18.6% 19.1% 20.8% 23.2% --- 38% • Q3’26 operating margin up 240 bps Q/Q CapEx ($ millions) 341.2 21.9 34.3 27.8 40 to 50 ~5% • CapEx intensity target ~5% LTM Free Cash Flow 23.7% 19.5% 24.2% 25.4% --- 30 - 35% • Share repurchase target of 100% of FCF Earnings per Share $2.35 $0.64 $0.74 $0.90 $0.95 to $1.07 --- • Q3 earnings per share at high end of guidance Our earnings release and this presentation include certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measures under GAAP are included in our earnings release, which is posted separately on our website in the "Investor Relations" section. See Appendix for GAAP to Non-GAAP Reconciliation. Non - GAAP Financial Performance
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19 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | GAAP Special Items** Non - GAAP*** Revenue $1,715 to $1,815 million - $1,715 to $1,815 million Gross Margin 41.4% to 43.4% 0.1% 41.5% to 43.5% Operating Expenses $331 to $346 million $29 million $303 to $318 million Other Income and Expense (including interest), net ($27 million) - ($27 million) Diluted Earnings Per Share $0.88 to $1.00 $0.07 $0.95 to $1.07 Diluted Shares Outstanding * 397 million 5 million 392 million Q4’26 Guidance
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20 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | Notes to Q4’26 Guidance * Diluted shares outstanding can vary as a result of, among other things, the vesting of restricted stock units, the inc remental dilutive shares from the convertible notes, and the repurchase or the issuance of stock or convertible notes or the sale of treasury shares. In periods when the q uar terly average stock price per share exceeds $52.97 for the 0% Convertible Senior Notes due 2027 (the “0% Notes”), $103.87 for the 0.50% Convertible Senior Notes due 2029 (the “0.50% Notes”), and $161.30 for the 0% Convertible Senior Notes due 2031 (the “2031 0% Notes”), the non - GAAP diluted share count and non - GAAP net in come per share include the anti - dilutive impact of the hedge transactions entered concurrently with the 0% Notes, the 0.50% Notes, and the 2031 0% Notes, res pec tively. At an average stock price per share between $52.97 and $74.34 for the 0% Notes, $103.87 and $156.78 for the 0.50% Notes, and $161.30 and $211.54 for the 20 31 0% Notes, the hedging activity offsets the potentially dilutive effect of the 0% Notes, the 0.50% Notes, and the 2031 0% Notes, respectively. In periods whe n t he quarterly average stock price exceeds $74.34 for the 0% Notes, $156.78 for the 0.50% Notes, and $211.54 for the 2031 0% Notes, the dilutive impact of the warrants iss ued concurrently with such notes is included in the diluted shares outstanding. GAAP and non - GAAP diluted share counts are based on either the previous quarter's av erage stock price or the stock price as of the last day of the previous quarter, whichever is higher. ** Special items may include: amortization of acquisition - related intangibles; expensing of appraised inventory fair mark et value step - up; restructuring - related cost of revenue charges; non - recurring facility costs; in - process research and development expenses; restructuring, asset impairments an d other, net; goodwill impairment charges; gains and losses on debt prepayment; actuarial (gains) losses on pension plans and other pension benefits; and certa in other special items, as necessary. These special items are out of our control and could change significantly from period to period. As a result, we are not able to reasonably estimate and separately present the individual impact or probable significance of these special items, and we are similarly unable to provide a reconciliatio n o f the non - GAAP measures. The reconciliation that is unavailable would include a forward - looking income statement, balance sheet and statement of cash flows in accordance wi th GAAP. For this reason, we use a projected range of the aggregate amount of special items in order to calculate our projected non - GAAP operating expense outlook. *** We believe these non - GAAP measures provide important supplemental information to investors. We use these measures, together with GAAP measures, for internal managerial purposes and as a means to evaluate period - to - period comparisons. However, we do not, and you should not, re ly on non - GAAP financial measures alone as measures of our performance. We believe that non - GAAP financial measures reflect an additional way of viewing aspects o f our operations that, when taken together with GAAP results and the reconciliations to corresponding GAAP financial measures that we also provide in our relea ses , provide a more complete understanding of factors and trends affecting our business. Because non - GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non - GAAP financial measures, even if they have similar names.
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21 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | GAAP to Non - GAAP Reconciliation ( $ millions) FY 2025 Q1’26 Q2’26 Q3’26 Reconciliation of GAAP to Non - GAAP Gross Margin: GAAP Gross Margin 33.1% 38.5% 38.4% 41.4% a) Amortization of intangible assets 0.1% 0.1% 0.1% 0.1% b) Restructuring - related inventory and other charges 5.2% (0.1)% 0.8% (0.3)% c) Amortization of fair market value step - up of inventory - - - - Non - GAAP Gross Margin 38.4% 38.5% 39.3% 41.2% Reconciliation of GAAP to Non - GAAP Operating Expenses: GAAP Operating Expenses $ 1,899.7 $ 636.5 $ 357.7 $ 334.7 a) Amortization of intangible assets (44.4) (10.5) (10.5) (10.5) b) Restructuring, asset impairments and other, net (666.9) (329.3) (41.2) (4.6) c) Third - party acquisition and divestiture - related costs (4.3) (1.4) (7.6) (7.5) d) Adjustments related to contingent consideration 1.3 (1.6) (1.6) (2.6) Non - GAAP Operating Expenses $ 1,185.4 $ 293.7 $ 296.8 $ 309.5 Reconciliation of GAAP to Non - GAAP Operating Income: GAAP Operating Income $ 84.2 $ (53.4) $ 258.6 $ 378.3 a) Amortization of intangible assets 49.4 11.7 11.7 11.7 b) Restructuring, asset impairments and other, net 666.9 329.3 41.2 4.6 c) Third - party acquisition and divestiture - related costs 4.3 1.4 7.6 7.5 d) Restructuring - related inventory and other charges 313.6 (1.0) 13.4 (4.9) e) Amortization of fair market value step - up of inventory 2.4 - - - f) Adjustments related to contingent consideration (1.3) 1.6 1.6 2.6 Non - GAAP Operating Income $ 1,119.5 $ 289.6 $ 334.1 $ 399.8 Reconciliation of GAAP to Non - GAAP Operating Margin: GAAP Operating Margin 1.4% (3.5)% 16.1% 22.0% a) Amortization of intangible assets 0.8% 0.8% 0.7% 0.7% b) Restructuring, asset impairments and other, net 11.1% 21.8% 2.6% 0.3% c) Third - party acquisition and divestiture - related costs 0.1% 0.1% 0.5% 0.4% d) Restructuring - related inventory and other charges 5.2% (0.1)% 0.8% (0.3)% e) Amortization of fair market value step - up of inventory - - - - f) Adjustments related to contingent consideration - 0.1% 0.1% 0.2% Non - GAAP Operating Margin 18.6% 19.1% 20.8% 23.2% Free Cash Flow: LTM Free Cash Flow $ 1,418.6 $ 1,181.1 $ 1,500.4 $ 1,616.6 LTM Revenue 5,995.4 6,063.0 6,197.8 6,369.2 LTM Cash Flow Margin 23.7% 19.5% 24.2% 25.4%
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22 Content to the Right of this line Content to the Left of this line Content to the Right of this line Content to the Left of this line Content Below this line Content Above this line Content Below this line Content Above this line Color Swatches © onsemi 2026 | Public Information | GAAP to Non-GAAP Reconciliation ($ millions, except share count and EPS) FY 2025 Q1’26 Q2’26 Q2’26 GAAP Net Income Attributable to ON Semiconductor Corporation $ 121.0 $ (33.4) $ 226.8 $ 313.9 a) Amortization of intangible assets 49.4 11.7 11.7 11.7 b) Restructuring, asset impairments and other, net 666.9 329.3 41.2 4.6 c) Third-party acquisition and divestiture-related costs 4.3 1.4 7.6 7.5 d) Actuarial gains on pension plans and other pension benefits (12.9) - - (0.6) e) Adjustment to income taxes (177.0) (56.5) (8.5) 22.3 f) Restructuring-related inventory and other charges 313.6 (1.0) 13.4 (4.9) g) Amortization of fair market value step-up of inventory 2.4 - - - h) Adjustments related to contingent consideration (1.3) 1.6 1.6 2.6 i) Gain on divestiture of a business - - - (3.1) Non-GAAP Net Income Attributable to ON Semiconductor Corporation $ 966.4 $ 253.1 $ 293.8 $ 354.0 Reconciliation of GAAP to Non-GAAP Diluted Shares Outstanding: GAAP Diluted Shares Outstanding 411.8 394.1 404.4 397.3 Less: dilutive shares attributable to convertible notes - - (7.4) (5.1) Add: dilutive shares attributable to share-based awards - 1.9 - - Non-GAAP Diluted Shares Outstanding 411.8 396.0 397.0 392.2 Non-GAAP Diluted Earnings Per Share: Non-GAAP net income for diluted earnings per share $ 966.4 $ 253.1 $ 293.8 $ 354.0 Non-GAAP diluted shares outstanding 411.8 396.0 397.0 392.2 Non-GAAP Diluted Earnings Per Share $ 2.35 $ 0.64 $ 0.74 $ 0.90
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