ON Semiconductor Ranks No. 492 on the FORTUNE 500 List of Largest Companies

Company moves up over 100 spots since 2017 rankings

PHOENIX, Ariz. – May 24, 2018 – ON Semiconductor Corporation (Nasdaq: ON), driving energy efficient innovations, today announced that it has been named to the Fortune 500 list of America’s largest companies by revenue for the first time since it became a public company in 2000. ON Semiconductor is a premier supplier of high performance silicon solutions for energy efficient electronics. Our broad portfolio of power and signal management, logic, discrete and custom devices helps customers efficiently solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications.

“Being recognized on the FORTUNE 500 is a testament to our entire global team and the partnerships we have cultivated with customers and suppliers around the world,” said Keith Jackson, president and CEO of ON Semiconductor. “We have transformed the nature of our business, and customers are increasingly relying on us as a key provider of enabling technologies for emerging and disruptive applications.”

Since its inception the company has grown significantly through organic growth along with mergers and acquisitions. To date, the company has executed over 50 large financial transactions that delivered over $16 billion in critical funding and other financings. This has provided a platform for growth for the company through a series of dramatic market swings in the last nineteen years. This tremendous growth has provided the depth and breadth of over 86,000 products, enabled it build an extensive intellectual property portfolio, and provided a global presence and the ability to be agile and competitive in an ever changing market.

“Our business remains strong, and indications from customers and macroeconomic data point to continuing strength in demand across end-markets and geographies in the near to mid-term.” said Bernard Gutmann, executive vice president and CFO. “With a strong product portfolio and robust design win pipeline, we are very well positioned to make significant gains in the coming year.”

The company is headquartered in Phoenix, Arizona (USA) with over 160 sites located in North America, Europe and Asia and a global employee count of over 34,000. Its vast product portfolio is comprised of automotive, computing, consumer, communications and industrial/medical/mil-aero segments. All of these key segments are what contributes to over $5 billion in annual revenue.

For the FORTUNE 500, companies are ranked by total revenues for their respective fiscal years. For more information about the list, please visit http://fortune.com/500.

# # #

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 future financial performance of ON Semiconductor. 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 Echange 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.

ON Semiconductor Full Web Site