onsemi Commemorates Transfer of Ownership of East Fishkill, New York Facility from GlobalFoundries with Ribbon Cutting Ceremony

Transfer of Ownership

• Acquisition and investments planned for ramp-up at the East Fishkill (EFK) fab create onsemi’s largest U.S. manufacturing site
• EFK enables accelerated growth and differentiation for onsemi’s power, analog and sensing technologies
• onsemi retains more than 1,000 jobs at the site

PHOENIX – Feb. 10, 2023 – onsemi (Nasdaq: ON) a leader in intelligent power and sensing technologies, today announced the successful completion of its acquisition of GlobalFoundries’ (GF’s) 300 mm East Fishkill (EFK), New York site and fabrication facility, effective December 31, 2022. The transaction added more than 1,000 world-class technologists and engineers to the onsemi team. Highlighting the importance of manufacturing semiconductors in the U.S., the company celebrated this milestone event with a ribbon-cutting ceremony led by Senate Majority Leader Chuck Schumer (NY), joined by Senior Advisor to the Secretary of Commerce on CHIPS Implementation J.D. Grom. Also in attendance were several other local governmental dignitaries.

Over the last three years, onsemi has been focusing on securing a long-term future for the EFK facility and its employees, making significant investments in its 300 mm capabilities to accelerate growth in the company’s power, analog and sensing products, and enable an improved manufacturing cost structure. The EFK fab is the largest onsemi manufacturing facility in the U.S., adding advanced CMOS capabilities - including 40 nm and 65 nm technology nodes with specialized processing capabilities required for image sensor production - to the company’s manufacturing profile. The transaction includes an exclusive commitment to supply GF with differentiated semiconductor solutions and investments in research and development as both companies collaborate to build on future growth.

“With today’s ribbon cutting, onsemi will preserve more than 1,000 local jobs, continue to boost the state’s leadership in the semiconductor industry, and supply ‘Made in New York' chips for everything from electric vehicles to energy infrastructure across the country," said Senator Schumer. “I am elated that onsemi has officially made East Fishkill home to its leading and largest manufacturing fab in the U.S. onsemi has already hired nearly 100 new people and invested committed $1.3 billion to continue the Hudson Valley’s rich history of science and technology for future generations. I have long said that New York had all the right ingredients to rebuild our nation’s semiconductor industry, and personally met with onsemi’s top brass multiple times to emphasize this as I was working on my historic CHIPS legislation. Thanks to my CHIPS and Science Act, we are bringing manufacturing back to our country and strengthening our supply chains with investments like onsemi’s in the Hudson Valley."

The EFK facility contributes to the community by retaining more than 1,000 jobs. With the recent passage of the Federal CHIPS and Science Act as well as the New York Green CHIPS Program, onsemi will continue to evaluate opportunities for expansion and growth in East Fishkill and its contribution to the surrounding community. Earlier today, the Rochester Institute of Technology (RIT) announced that onsemi has pledged to donate $500,000 over 10 years to support projects and education aimed at increasing the pipeline of engineers in the semiconductor industry.

“onsemi appreciates Senate Majority Leader Schumer’s unwavering commitment to ensure American leadership in semiconductors and chip manufacturing investments in New York," said Hassane El-Khoury, president and chief executive officer, onsemi. “With the addition of EFK to our manufacturing footprint, onsemi will have the only 12-inch power discrete and image sensor fab in the U.S., enabling us to accelerate our growth in the megatrends of vehicle electrification, ADAS, energy infrastructure and factory automation. We look forward to working with Empire State Development and local government officials to find key community programs and educational partnerships that will allow us to identify, train and employ the next generation of semiconductor talent in New York."