Onto Innovation
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Onto Innovation Investor Presentation

Safe Harbor • The information presented herein contains forward-looking statements that relate to anticipated future operating results and performance. These statements are only predictions based on management’s current expectations and assumptions, including market size and forecasted growth, Total Available Market (or “TAM”), Served Available Market (or “SAM”) and revenue estimates, and necessarily involve risks and uncertainties. We do not assume any obligation to update the information provided. Actual events or results may differ materially from those projected, including as a result...

Onto Innovation Snapshot High tech capital equipment company specializing in optical process solutions for semiconductor and related markets Annual Revenue Growth (‘20-’22) $556M to $1.006B3 NOVEMBER 2019: RTEC-NANO MERGER 9,000 ACTIVE METROLOGY & INSPECTION TOOLS INSTALLED 75 Fabs FAB-WIDE YIELD/DEFECT SOFTWARE INSTALLED Note 1: 90% of WFE awarded to companies in this tier Note 2: Q1-2020 (ONTO’s first full quarter) and Q2-2022 non-GAAP results Note 3: Analyst consensus estimate for FY 2

Revenue Distribution Across the Value Chain SOFTWARE AND SERVICE CUSTOMERS ADVANCED NODES CUSTOMERS Wafer Fabrication SPECIALTY & ADVANCED PACKAGING CUSTOMERS Bare Wafer Manufacturing Specialty Devices & Advanced Packaging Balanced H1 2022 Revenue Distribution across the Semiconductor Value Chain 17% 40% Advanced Nodes Advanced Packaging & Specialty Software & Service The above logos are representative trademarks™ or registered ® trademarks of their respective holders-not listed by rank order of revenue. Use of these logos does not imply any affiliation with or endorsement by them.

New SAM Contributes to Market Outperformance New products open new growth markets for Onto Innovation Panel Packaging Common Films >$100M REVENUE PROJECTED FROM NEW SAM IN 2022 Note 1: Specialty includes CMOS Image Sensors + overlay for compound semiconductor Note 2: Company estimate for total additional SAM in 2022

Semiconductor Market Transitioning From Cyclical to Growth DRIVEN BY MULTIPLE SECULAR GROWTH DRIVERS Broadening Demand Improving Manufacturing Efficiency Industry consolidation, Rise of foundry Virtual Reality Source: Historic WFE: Jeffries Semiconductor Report, January 2022 and 2021-2025 Estimated WFE: Needham, January 2022 Electric Vehicles Source: IDC, Yole Development Cloud Computing

Onto Innovation Across the Value Chain for Semiconductors More complex devices generate more data, monetized in the cloud, creating demand for more devices…. Data Generation More Complex Devices Image Sensors, Power, 5G Data Center Data Monetization

Onto Growth Driver: High Performance Logic Devices ONTO QUALIFIED OR COLLABORATING INCREASE IN PROCESS CONTROL AT ALL GAA CUSTOMERS GROWING DEMAND Advanced Logic Wafer Starts Optical Metrology Sampling Rates Measuring additional features requires more unique signals OTHER SE TECHNOLOGY LIMIT FinFET N-1 FinFET Source: ASML Investor Day, Estimated Advanced Logic Wafer Starts, September 2021 Source: ONTO Company Estimates ONTO PATENTED SE TECHNOLOGY

Onto Growth Driver: Panel / Substrate Packaging High performance compute, intelligent edge, AI, mobility Comprehensive Solutions PANEL MARKET GROWTH STEPFAST Inspection - Control Lithography – PROPRIETARY SOLUTION FOR PANELS SURGING DEMAND FOR ONTO SOLUTIONS $100 DISCOVER® SOFTWARE Improves Productivity And Yield THOUSANDS OF SQUARE METERS Source: TechSearch International, December 2021 PANEL PROCESSING

New JetStep X500 Adds Process Tool to Onto Portfolio Tool Margin with Connected Solution and Support Contracts Result: Above Corporate Average GM% TOOL & PANEL SOLUTION GROSS MARGIN IMPROVEMENTS Support1 GROSS MARGIN % CORPORATE AVERAGE GM% IN LTOM Firefly Inspection + Software + Firefly Inspection Revenue LITHOGRAPHY GM% TARGET IN LTOM Manufacturing Efficiencies Supply Chain Cost Improvements System Cost Improvements First BetaSite Tools Next 3-8 System Shipments Engineering Builds Note 1: Support Contract begins after JetStep warranty period ends

Onto Growth Driver: Advanced Packaging (Wafer Drivers) High Performance Compute, Intelligent Edge, AI, Mobility SCALING DRIVEN BY TOP 5 IDMS INTERCONNECTS SHRINK IN SIZE AND INCREASE IN DENSITY >200M BUMPS PER WAFER IDM ADVANCED PACKAGING INSPECTION MARKET SHARE 20 18 Bump I/O Count (Millions) Redistribution Metal Layers ONTO Market Share: Top5 IDMs1 Source: TSMC CoWoS-L Heterogeneous Integration Cross-Section Package Example, June 2021 Redistribution Layers Source: TechSearch International, December 2021 Note 1: Onto Management Estimates

Onto Growth Driver: Memory UNIQUE HYBRID METROLOGY SUITE DRAM Evolution Roadmap COMPLEX GEOMETRIES MEASURED WITH HIGHER ACCURACY 50 Residual films accuracy HORIZONTAL TRANSISTOR NAND Evolution Roadmap Industry benchmark SINGLE 3D STACK Orbit Hybrid Metrology Proprietary Onto Orbit Solution

Onto Growth Driver: Compound Semiconductor GROWING DEMAND ONTO REVENUE GROWTH IN COMPOUND SEMICONDUCTORS COMPREHENSIVE SOLUTION TO HIGHER YIELD, FASTER RAMP SUBSTRATE QUALITY SUBSTRATE INCREASE ONTO REVENUE YIELD MANAGEMENT PACKAGING INSPECTION PACKAGING INSPECTION Energy Infrastructure Electric Vehicles 2019 Source: Yole Developpement, Quarterly Market Monitors- Compound Semiconductors, December 2021 DRAGONFLY® INSPECTION, IVISION™ CD OVERLAY METAPULSE® METAL FILM METROLOGY, NSX® 330 2D/3D INSPECT

Revenue Growth History and Expectation 10 Quarters of History as Onto Innovation with Strong 2022 Outlook QUARTERLY REVENUE + 2H 2022 CONSENSUS $260 $240 Source: Company Financials and August 2022 FactSet Revenue Consensus for Q3-22, Q4-22 14 83% QUARTERLY GROWTH First 10 Quarters of ONTO P&L (From $139.9M to $256.3M) 28% FY22 OVER FY21 EXPECTED FY22 Analyst Revenue Outlook (From $788.9M (A) to $1.006B (E)

Organic Growth Resulting from Share Gains & Potential to Enter New Addressable Markets Annual Revenue Gross Margin Operating Profit Long-term Operating Model* Reduce Comprehensive Carbon Footprint 30% by 2025 Reduce Freshwater Usage Increase Renewable Energy Usage Reduce Landfill Hazardous Waste *Non-GAAP Long Term Financial Model: excludes amortization and merger costs; includes stock-based compensation