Consent of Qatalyst Partners LP

August 21, 2026

We hereby consent to the use in the joint proxy statement/prospectus pursuant to Section 14(a) of the Securities Exchange Act of 1934 that forms part of the Registration Statement on Form S-4 of ON Semiconductor Corporation of our opinion, dated as of June 25, 2026, appearing as Annex B to such joint proxy statement/prospectus, and to the description of such opinion and to the references to our name contained therein under the headings “Summary—Opinion of Qatalyst Partners LP, Synaptics’ Financial Advisor,” “The Merger—Background of the Merger,” “The Merger—Recommendation of the Synaptics Board of Directors and Reasons for the Merger,” “The Merger—Certain Unaudited Prospective Financial Information,” “The Merger—Opinion of Qatalyst Partners LP, Synaptics’ Financial Advisor.”

 

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