Resulting in Long-Term $85 Million Commitment for Shipments 2022-2023

Onto Innovation Inc. (NYSE: ONTO) (“Onto Innovation,” “Onto” or the “Company”) today announced $85 million in orders from a 3D NAND manufacturer for its integrated OCD and thin film metrology suite with deliveries beginning in 2022 and into the first half of 2023.

Orders for Onto’s products comprise an innovative metrology suite earning “tool of record” status, which includes the Atlas^® V metrology system for complex 3D structures, the new Iris^™ planar thin films metrology system, the IMPULSE^® integrated metrology system and the MetaPULSE^® hard mask metrology system.

“We are able to solve new metrology challenges for advanced 3D NAND devices by integrating multiple data streams into our AI Diffract^™ software, meeting more stringent control requirements for both the CMP budget and amorphous carbon hard mask thickness/etch selectivity. Additionally, we can significantly accelerate customer process development with faster recipe creation by using the same AI Diffract platform across multiple systems,” commented Rodney Smedt, vice president and general manager of the metrology business.

Onto Innovation provides a full suite of products across different phases for our customers’ product ramping stages. In the early R&D phase, the Atlas product offers complete metrology functionality for all device layers. As our customers move to the production phase, they have options to seamlessly transfer certain application layers to the Iris product to reduce their overall capital investment. Atlas and Iris products can provide backups for each other, and provide significant savings on customer investment, floor space, and engineering training.

Smedt added, “In addition to higher performance, maximizing the value of assets is critical as processes change over time. With Onto Innovation’s metrology platform, customers have the ability to optimize their process control strategy for cost and performance. As a customer’s demands change over time our platforms are field upgradeable allowing for a longer return on their Onto Innovation investment. This cost-effective design approach achieves lower cost of ownership by using the flexible upgradability of the Iris system to redeploy existing capital assets rather than purchasing additional systems. In addition, the Iris system can be initially configured with either spectroscopic ellipsometry or reflectometry, depending on the specific films being measured.”

At Onto Innovation, we have earned our customers’ business by offering products that are connected solutions that work with one another, from the Atlas V and Iris systems to the integrated metrology of the IMPULSE system. All three incorporate AI Diffract software to create a unique hybrid metrology solution.

About Onto Innovation Inc.

Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that include: Un-patterned wafer quality; 3D metrology spanning chip features from nanometer scale transistors to large die interconnects; macro defect inspection of wafers and packages; metal interconnect composition; factory analytics; and lithography for advanced semiconductor packaging.

Our breadth of offerings across the entire semiconductor value chain helps our customers solve their most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize our customers’ critical path of progress by making them smarter, faster and more efficient.

Headquartered in Wilmington, Massachusetts, Onto Innovation supports customers with a worldwide sales and service organization.

Additional information can be found at www.ontoinnovation.com.

Forward Looking Statement

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) which include: statements by Rodney Smedt and other statements related to the order announcement; Onto Innovation’s business momentum and future growth; the benefit to customers of Onto Innovation’s products; Onto Innovation’s ability to both deliver products and services consistent with our customers’ demands and expectations and strengthen its market position; as well as other matters that are not purely historical data. Onto Innovation wishes to take advantage of the “safe harbor” provided for by the Act and cautions that actual results may differ materially from those projected as a result of various factors, including risks and uncertainties, many of which are beyond Onto Innovation’s control. Such factors include, but are not limited to, the length, severity and potential business impact of the COVID-19 pandemic; the Company’s ability to leverage its resources to improve its position in its core markets; its ability to successfully integrate acquired businesses and technologies; its ability to weather difficult economic environments; its ability to open new market opportunities and target high-margin markets; the strength/weakness of the back-end and/or front-end semiconductor market segments; fluctuations in customer capital spending and any potential impact as a result of the novel coronavirus situation. Additional information and considerations regarding the risks faced by Onto Innovation are available in Onto Innovation’s Form 10-K report for the year ended December 26, 2020 and other filings with the Securities and Exchange Commission. As the forward-looking statements are based on Onto Innovation’s current expectations, the Company cannot guarantee any related future results, levels of activity, performance or achievements. Onto Innovation does not assume any obligation to update the forward-looking information contained in this press release.

Source: Onto Innovation Inc.

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