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ON Semiconductor Expands Manufacturing Operations in Mountain Top, Pennsylvania

ON Semiconductor (Nasdaq: ON),
driving energy efficient innovations, plans to invest $51 million to
support expansion of the Luzerne County facility. The ON Semiconductor
Mountain Top location specializes in the manufacturing of semiconductor
discrete devices used in power management applications across a wide
variety of industries, including automotive, industrial, communication
and computing.

Today, ON Semiconductor occupies 437,000 square feet of space on 84
acres in the Crestwood Industrial Park. The Mountain Top site is a
high-tech location with a highly skilled workforce, benefits, clean work
environment and open communication environment. The investment is
planned to increase production and in turn create over 70 new jobs,
including production staff, technicians, engineers and other support
staff.

“We have an outstanding team of highly motivated employees combining our
technical capabilities and expansive space capacity to meet exploding
business growth in critical markets for ON Semiconductor,” said Heather
Carreiro, general manager at ON Semiconductor’s Mountain Top facility.
“The initial phase of expansion is currently underway. I’m very proud of
our accomplishments and excited about the future of our operation here
in Mountain Top.”

With its acquisition of Fairchild’s product portfolio of medium and high
voltage products in late 2016, complementing ON Semiconductor’s
specialization in low power, the company now has a complete suite of
power conversion and power management technologies. This makes ON
Semiconductor uniquely positioned to support customers across multiple
sectors in working purposefully toward realizing the degree of energy
efficiency desired by their customers and increasingly required by
regulations.

ON Semiconductor is headquartered in Phoenix, Arizona, and offers a
portfolio of over 80,000 energy efficient power management, analog,
sensors, logic, timing, connectivity, discrete, SoC and custom devices
utilized in, computing, consumer, industrial, medical and
military/aerospace applications. The company operates a network of
manufacturing facilities, sales offices and design centers which are
located in key markets throughout North America, Europe, and in the Asia
Pacific region.

About ON Semiconductor

ON Semiconductor (Nasdaq: ON)
is driving energy efficient innovations, empowering customers to reduce
global energy use. The company is a leading supplier of
semiconductor-based solutions, offering a comprehensive portfolio of
energy efficient, power management, analog, sensors, logic, timing,
connectivity, discrete, SoC and custom devices. The company’s products
help engineers solve their unique design challenges in automotive,
communications, computing, consumer, industrial, medical, aerospace and
defense applications. ON Semiconductor operates a responsive,
reliable, world-class supply chain and quality program, a robust
compliance and ethics program, and a network of manufacturing
facilities, sales offices and design centers in key markets throughout
North America, Europe and the Asia Pacific regions. For more
information, visit http://www.onsemi.com.

ON Semiconductor and the ON Semiconductor logo are registered
trademarks of Semiconductor Components Industries, LLC. All other brand
and product names appearing in this document are registered trademarks
or trademarks of their respective holders. Although the company
references its website in this news release, information on the website
is not to be incorporated herein.

This document contains “forward-looking statements,” as that term is
defined in Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities Exchange Act of
1934, as amended. All statements, other than statements of historical
facts, in this document could be deemed forward-looking statements,
particularly statements about the amount of investment, increases in
production, and the number of jobs created at the Mountain Top facility.
Forward-looking statements are often characterized by the use of words
such as “believes,” “estimates,” “expects,” “projects,” “may,” “will,”
“intends,” “plans” or “anticipates,” or by discussions of strategy,
plans or intentions. All forward-looking statements in this document are
made based on our current expectations, forecasts, estimates and
assumptions and involve risks, uncertainties and other factors that
could cause results or events to differ materially from those expressed
in the forward-looking statements. Factors that could affect our future
results or events are described under Part I, Item 1A “Risk Factors” in
our 2017 Annual Report on Form 10-K filed with the Securities and
Exchange Commission (“SEC”) on February 21, 2018 (“2017 Form 10-K”) and
from time-to-time in our other SEC reports. Readers are cautioned not to
place undue reliance on forward-looking statements. We assume no
obligation to update such information, except as may be required by law.
You should carefully consider the trends, risks and uncertainties
described in this document, our 2017 Form 10-K and other reports filed
with or furnished to the SEC before making any investment decision with
respect to our securities.

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