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Momentum Building in 2026 Fireside Chat JANUARY 2026 Michael Plisinski | CEO
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Safe Harbor 2 This presentation contains forward-looking statements within the meaning of the Private Securities LItigation Reform Act of 1995. Statements including words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "plan," "will," "may," "look forward," "intend," “guidance,” "future," "potential" or similar expressions are forward-looking statements. These statements are only predictions based on management’s current expectations and assumptions, including market size and forecasted growth, Total Available Market (or “TAM”), Served Available Market (or “SAM”), revenue estimates, financial outlook, anticipated future performance of the Company's products and services as well as other matters that are not purely historical data. The Company cannot guarantee any related future results, levels of activity, performance or achievements. Actual events or results may differ materially from those projected as a result of various factors, including risks and uncertainties from changing industry and market trends, effects of political, economic and regulatory changes, reduced demand for our products, the timely development of our new products and their adoption by the market, increased competition in the industry, price reductions and other subsequent developments, business conditions and other factors that are beyond the Company's control. Additional information and considerations regarding the risks faced by Onto Innovation are available in our Form 10-K report for the year ended December 28, 2024, and other filings with the Securities and Exchange Commission. We do not assume any obligation to update the information provided in this presentation, except as required by law. This presentation includes non-GAAP financial measures which are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore believes it is important to make these non-GAAP measures available to the financial community. Reconciliations of non-GAAP measures to the most relevant GAAP amounts are included in the appendix section of this presentation.
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Strong Alignment to AI Builds Confidence in 2026 Growth 3 1Onto’s internal estimates AI Revenue 61% Non-AI Revenue 39% 2025 REVENUE1 AI Investment Growth Improving Our Outlook for 1H 2026, Stronger 2H Expected 2H 2025 1H 2026 SDI 2H 2026 2026 REVENUE OUTLOOK IMPROVING >10% (Semilab (SDI) is additional) Increasing from ~16% in 2023
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~$1 Billion in Expanding Opportunities in AI Market Segments 4 PHOTONICS / CO-PACKAGED OPTICS Critical Films 3Di Metrology Charge Metrology Charge Metrology 1. Metrology for GAA Process Control SAM, SEMI WFF 3Q25 and Tech Insights wafers starts forecast 4Q25 2. Tech Insights, Yole, Internal Estimates, 3Q25 3. SEMI WFF 3Q25, Tech Insights Silicon Demand Forecast 4Q25 ONTO’S POSITION Leader in 2D Inspection Leader in Common Films 2D Inspection 3Di Metrology Common Films Leader in OCD Growing Common Films Growing Integrated Metrology MARKET GROWTH (25-28 CAGR) NASCENT HIGH GROWTH HIGH BANDWIDTH MEMORY ADVANCED PACKAGING (2.5D + 3D) NEW TRANSISTOR TECH + NEW OPPORTUNITIES Critical Films Leader in OCD Leader Integrated Metrology Growing Common Films 1 25 % 2 20 % 3 12 %
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Epitaxial is the most critical yield step for power semi devices We inspect and analyze for epi defects Determine which defects will electrically fail, early in process. We print, measure, and inspect critical die interconnects Charge Metrology Extends our Value in Multiple Markets 5 Charge build up can lead to sudden discharge and yield loss Power Semiconductors Chiplet Architectures
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What Makes the Dragonfly Special? 6 30,000 individual complex eye/lenses, seeing visible, UV, and polarized light at multiple zones IN NATURE…. Many “Eyes” Reveal New Sources of Yield Loss… • 2D inspection • Clearfind® technology • 3D metrology • Infrared scanning Serving Many AI Packaging Applications New applications in 2025 IN SEMICONDUCTORS
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Tools Shipped to Three Customers! • Purchase Order Received from 4th Customer • Several Additional Systems Expected to Ship in Q1 Next Generation Dragonfly Designed to See Even More 7 NEXT GENERATION DRAGONFLY ADDS GREATER SENSITIVITY , EXCLUSIVE NEW IMAGING TECHNIQUES, AT FASTER THROUGHPUT SENSITIVITY <0.3µm 1µm 5µm SPEED See More, Faster Next-gen GPU/TPU/HBM
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>30% New Products and Factories Drive Income Growth In addition to benefit from market growth 8 Remote Factory Output Ahead of Plan, >50% Shipped in Q4 Expect tariff mitigation to improve GM by 100bps in 1H 2026 New Products Increase Value and Boost Margin Semiconductor Diagnostic Product Lines (Semilab US) Projected $120M in revenue and accretive margin for 2026 OPERATING INCOME IN 2026
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Thank You 谢谢 | 謝謝 ありがとう Obrigado Danke 감사합니다 Merci info@ontoinnovation.com www.ontoinnovation.com