ON Semiconductor Expands Manufacturing Operations in Mountain Top, Pennsylvania

Mountain Top, PA – June 21, 2018 – ON Semiconductor Corporation (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 productions 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 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 towards 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.

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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