Allegro Issues Statement

Core Viewpoint - Allegro MicroSystems has announced the withdrawal of Onsemi's unsolicited acquisition proposal, emphasizing the Board's commitment to acting in the best interests of its stockholders and the inadequacy of Onsemi's offers [1][2][3]. Company Positioning - The Board of Allegro has engaged with Onsemi and its advisors, providing a constructive path for a potentially improved offer, which Onsemi ultimately declined to pursue [3]. - Allegro is confident in its unique positioning to capitalize on mega-trends in electrification and autonomy through its differentiated sensing and power technologies [4]. Strategic Focus - The company aims to continue innovation to enhance competitive advantages while closely partnering with customers in sectors such as e-Mobility, clean energy, data centers, robotics, and automation [4]. - Allegro is committed to unlocking additional stockholder value through its strategic initiatives and market leadership [4]. Advisory Support - PJT Partners is serving as the financial advisor, while Davis Polk & Wardwell LLP is the legal advisor to Allegro [5].