<SEC-DOCUMENT>0001171843-17-002574.txt : 20170503
<SEC-HEADER>0001171843-17-002574.hdr.sgml : 20170503
<ACCEPTANCE-DATETIME>20170503160546
ACCESSION NUMBER:		0001171843-17-002574
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170503
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170503
DATE AS OF CHANGE:		20170503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALPHA & OMEGA SEMICONDUCTOR Ltd
		CENTRAL INDEX KEY:			0001387467
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34717
		FILM NUMBER:		17809114

	BUSINESS ADDRESS:	
		STREET 1:		475 OAKMEAD PARKWAY
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94085
		BUSINESS PHONE:		408-830-9742

	MAIL ADDRESS:	
		STREET 1:		475 OAKMEAD PARKWAY
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94085

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALPHA & OMEGA SEMICONDUCTOR LTD
		DATE OF NAME CHANGE:	20070123
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_050317.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">_________________________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>_________________________________</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>CURRENT REPORT</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Pursuant to Section&nbsp;13 or 15(d) of the</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Date of Report (Date of earliest event reported): May&nbsp;3,
2017 </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;<FONT STYLE="font-size: 10pt"><B>_________________________________</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 14pt"><B>Alpha and Omega Semiconductor Limited</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Exact name of registrant as specified in its charter)</B></P>

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    <TD STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Bermuda</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>001-34717</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>77-0553536</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(State or other jurisdiction</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>of&nbsp;incorporation)</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Commission</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>File Number)</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(I.R.S. Employer</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Identification No.)</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Clarendon House</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>2 Church Street</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Hamilton HM 11</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Bermuda</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Address of principal executive offices)</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(408) 830-9742</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Registrant&rsquo;s telephone number, including area code)</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>N/A</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Former name or former address, if changed since last report)</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction&nbsp;A.2. below):&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities Exchange Act
of 1934 (17 CFR &sect;240.12b-2). Emerging growth company&nbsp;<FONT STYLE="font: 10pt Wingdings">&uml;</font></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;2.02.</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Results
                                         of Operations and Financial Condition.</B></FONT></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The information
in Item 2.02 of this Current Report, including the accompanying exhibits, is being furnished and shall not be deemed &ldquo;filed&rdquo;
for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise
subject to the liabilities of Section 18. The&nbsp;information in Item 2.02 of this Current Report shall not be incorporated by
reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange
Act, regardless of any general incorporation language contained in such filing.</FONT></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">On May&nbsp;3,
2017, Alpha and Omega Semiconductor Limited (the &ldquo;Company&rdquo;) issued a press release regarding its financial results
for the fiscal third quarter of 2017 ended March&nbsp;31, 2017. A copy of the press release is furnished herewith as Exhibit 99.1
and is incorporated by reference herein.</FONT></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;9.01 Financial
Statements and Exhibits.</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

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    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: middle; padding-left: 23pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)
    &nbsp;&nbsp;Exhibits.</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt; vertical-align: middle; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt; vertical-align: middle; padding-left: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">Press Release
    dated May&nbsp;3, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.2</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Script for Earnings Call&nbsp;</FONT></TD></TR>
</TABLE>


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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SIGNATURE</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dated: May&nbsp;3, 2017</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TR>
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Alpha and Omega Semiconductor Limited</B></FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/&nbsp;Yifan
    Liang</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yifan Liang</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial
    Officer and Corporate Secretary</FONT></TD></TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252"><meta name="GENERATOR" content="MSHTML 8.00.7601.18094"></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Third Quarter of 2017 Ended March&#160;31, 2017</strong></p><p style="text-align: center;"><p> <p align="left">SUNNYVALE, Calif., May  03, 2017  (GLOBE NEWSWIRE) -- Alpha and Omega Semiconductor Limited (&#8220;AOS&#8221;) (NASDAQ:AOSL), today reported financial results for the fiscal third quarter of 2017 ended March&#160;31, 2017.<br></p>  <p>The results for the fiscal third quarter of 2017 ended March&#160;31, 2017 were as follows:</p> <table style="border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; "><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>GAAP Financial Comparison</strong></td></tr><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>Quarterly</strong></td></tr><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">(in millions, except percentage and per share data)</td></tr><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">(unaudited)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="11" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">Three Months Ended</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom;   text-align: left;   padding-left: 15.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">March 31,<br> &#160;2017</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom;   text-align: left;   padding-left: 15.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">December 31,<br> &#160;2016</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom;   text-align: left;   padding-left: 15.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">March 31,<br> &#160;2016</td></tr><tr><td style="vertical-align: bottom ; ">Revenue</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">93.3</td><td style="vertical-align: bottom ; 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AOS reported $93.3 million in revenue, close to the high-end of our guidance range, representing an increase of 12.4% from the revenue in the same quarter a year ago. We also posted the eighth consecutive quarter of gradual gross margin expansion and delivered $0.21 non-GAAP earnings per share despite the fact that the March quarter is seasonally our lowest quarter.&#160; This, once again, demonstrates the strength of AOS recovery strategy that is now translating into a sustained improvement of our financial performance.&#160; We are also taking proactive and deliberate steps to gradually alleviate capacity constraints, and we expect to see higher production output starting in the September quarter.&#160; The entire team at AOS continues to keenly focus on developing differentiated technologies and introducing market driven new products, which we believe will further propel our business growth and profitability.&#8221;</p>  <p><strong>Business Outlook for Fiscal Q4 Ending June&#160;30, 2017 </strong></p>  <p><em>The following statements are based on management's current expectations. These statements are forward-looking, and actual results may differ materially. AOS undertakes no obligation to update these statements.</em></p>  <ul><li>Revenue is expected to be between $95 million and $99 million.<br><br></li><li>GAAP gross margin is expected to be 24.5% plus or minus 1%.&#160;<br><br></li><li>GAAP operating expenses are expected to be in the range of $19.8 million plus or minus $1 million.&#160;<br><br></li><li>Tax expense is expected to be approximately $1.0 million to $1.2 million.&#160;<br><br></li><li>Loss attributable to noncontrolling interest is expected to be between $1.2 million and $1.3 million.</li></ul>  <p>The above projections on GAAP gross margin and GAAP operating expenses include estimated share-based compensation expense of $1.6 million to $1.8 million.</p>  <p><strong>Conference Call and Webcast</strong></p>  <p>AOS plans to hold an investor teleconference and live webcast to discuss the financial results for the fiscal third quarter of 2017 ended March&#160;31, 2017 today, May&#160;3, 2017 at 2:00 p.m. PT / 5:00 p.m. ET.&#160; To participate in the live call, analysts and investors should dial 877-312-8797 (or 253-237-1194 if outside the U.S.).&#160; To access the live webcast and the subsequent replay of the conference call, which will be available for seven days after the live call, go to the "Events &amp; Presentations" section of the company's investor relations website, http://investor.aosmd.com.&#160; In addition, a copy of the script of prepared remarks by CEO and CFO at the investor teleconference and webcast is available prior to the call at the Company&#8217;s investor relations website.</p>  <p><strong>Forward-Looking Statements</strong></p>  <p>This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated product performance.&#160; These forward-looking statements include, without limitation, statements relating to projected amount of revenue, gross margin, operating income (loss), income tax expenses, net income (loss), noncontrolling interest, and share-based compensation expenses, our ability and strategy to develop new products, expand our sales, and achieve sustained growth and profitability, and other information under the section entitled &#8220;Business Outlook for Fiscal Q4 Ending June&#160;30, 2017&#8221;.&#160; Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements.&#160; These factors include, but are not limited to, the decline of the PC industry and our ability to respond to such decline, our ability to introduce or develop new and enhanced products that achieve market acceptance, the actual product performance in volume production, the quality and reliability of our product, our ability to achieve design wins, the general business and economic conditions, the state of semiconductor industry and seasonality of our markets, our ability to maintain factory utilization at a desirable level, our ability to successfully operate our joint venture in China, and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended June&#160;30, 2016 filed on August&#160;26, 2016.&#160; Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. &#160;Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements.&#160; You should not place undue reliance on these forward-looking statements.&#160; All information provided in this press release is as of today's date, unless otherwise stated, and AOS undertakes no duty to update such information, except as required under applicable law.</p>  <p><strong>Use of Non-GAAP Financial Measures</strong></p>  <p>To supplement our unaudited consolidated financial statements presented on a basis consistent with U.S. GAAP, we disclose certain non-GAAP financial measures, including non-GAAP gross profit, gross margin, operating income (loss), net income (loss) and diluted earnings per share ("EPS").&#160;These supplemental measures exclude share-based compensation expenses for all periods presented in this press release and impairment of long-lived assets for the nine months ended March 31, 2016.&#160; We believe that non-GAAP financial measures can provide useful information to both management and investors by excluding certain expenses that are not indicative of our core operating results.&#160; In addition, our management uses non-GAAP measures to compare our performance relative to forecasts and to benchmark our performance externally against competitors.&#160; Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies.&#160; For example, the term used in this press release, non-GAAP net income (loss), does not have a standardized meaning.&#160; Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies.&#160; In addition, different items may be excluded in non-GAAP measures presented in different periods.&#160; We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable U.S. GAAP measures in the tables attached to this press release.&#160; Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures.</p>  <p><strong>About Alpha and Omega Semiconductor</strong></p>  <p>Alpha and Omega Semiconductor Limited, or AOS, is a designer, developer and global supplier of a broad range of power semiconductors, including a wide portfolio of Power MOSFET, IGBT and Power IC products.&#160; AOS has developed extensive intellectual property and technical knowledge that encompasses the latest advancements in the power semiconductor industry, which enables it to introduce innovative products to address the increasingly complex power requirements of advanced electronics.&#160; AOS differentiates itself by integrating its Discrete and IC semiconductor process technology, product design, and advanced packaging know-how to develop high performance power management solutions.&#160; AOS's portfolio of products targets high-volume applications, including portable computers, flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment.&#160; For more information, please visit http://www.aosmd.com.&#160; For investor relations, please contact So-Yeon Jeong at investors@aosmd.com.</p>  <p>The following unaudited consolidated financial statements are prepared in accordance with U.S. GAAP.</p> <table style="border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; "><tr><td colspan="20" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td colspan="20" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>Alpha and Omega Semiconductor Limited</strong></td></tr><tr><td colspan="20" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>Condensed Consolidated Statements of Operations</strong></td></tr><tr><td colspan="20" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>(in thousands, except percentages and per share amounts)</strong></td></tr><tr><td colspan="20" style="text-align: center ; 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">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Operating expenses:</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Research and development</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">7,625</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; 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">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11,974</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,566</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">35,224</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">27,935</td><td style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Impairment of long-lived assets</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#8212;</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#8212;</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">432</td><td style="border-bottom: solid black 1pt ; 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">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(171</td><td style="vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,583</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,044</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; 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">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(22</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">Income (loss) before income taxes</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,909</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,742</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(44</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,318</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,401</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Income tax expense</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">523</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,085</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,219</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,845</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,448</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Net income (loss) including noncontrolling interest</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,386</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,657</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,263</td><td style="vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6,473</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(4,849</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">Net loss attributable to noncontrolling interest</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,170</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,190</td><td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-bottom: solid black 1pt ; text-align: right ; 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">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,710</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(4,849</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Net income (loss) per common share attributable to Alpha and Omega Semiconductor Limited</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 30.0px; vertical-align: bottom ; ">Basic</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.15</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.12</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(0.06</td><td style="vertical-align: bottom ; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.42</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(0.22</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom;   text-align: left; 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">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(0.22</td><td style="vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Weighted average number of common shares attributable to Alpha and Omega Semiconductor Limited used to compute net income (loss) per share</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; 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">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr></table> <p>&#160;<br></p></p><p>CONTACT:<br>Alpha and Omega Semiconductor Limited<br>Investor Relations<br>So-Yeon Jeong<br>408-789-3172<br>investors@aosmd.com</p></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>EXHIBIT 99.2</B></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Alpha
and Omega Semiconductor Limited</U></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Prepared
Remarks of Investor Conference Call</U></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>for
the Quarter Ended March 31, 2017</U></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>May
3, 2017</U></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>So-Yeon Jeong (Moderator):</U></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Good afternoon, everyone, and
welcome to the Alpha and Omega Semiconductor&rsquo;s conference call for fiscal 2017 third quarter financial results. This is
So-Yeon Jeong, Investor Relations representative for the company. With me today are Dr. Mike Chang, our CEO, and Yifan Liang,
our CFO. This call is being recorded and broadcasted live over the Web and can be accessed for seven days following the call via
the link in the Investor Relations section of our website at www.aosmd.com.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-variant: normal">The
earnings release was distributed by globe newswire today, May 3, 2017, after the market closed. The release is also posted on
the company's website. Our earnings release and this presentation include certain non-GAAP financial measures. We use non-GAAP
measures because we believe they provide useful information about our operating performance that should be considered by investors
in conjunction with the GAAP measures that we provide. A reconciliation of these non-GAAP measures to comparable GAAP measures
is included in our earnings release.&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We would like to remind you
that during the course of this conference call, we will make forward-looking statements, including discussions of business outlook
and financial projections. These forward-looking statements are based on management's current expectations and involve risks and
uncertainties that could cause our actual results to differ materially from such expectations. For a more detailed description
of these risks and uncertainties, please refer to our recent and subsequent filings with the SEC. We assume no obligations to
update the information provided in today's call.&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-variant: normal">Now,
I&rsquo;ll turn the discussion over to our CFO to provide an overview of the third fiscal quarter financial results.</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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<P STYLE="font-size: 10pt; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Yifan
Liang (Chief Financial Officer):</U></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thank you, So-Yeon. Good afternoon
and thank you for joining us. To begin, I will discuss financial results for the quarter. Then I&rsquo;ll turn it over to Mike,
our CEO, who will review the company&rsquo;s business highlights and I will follow up with our guidance for the next quarter.
Finally, we&rsquo;ll reserve time for questions-and-answers.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue for the March quarter
was $93.3 million, down 1.5% sequentially and up 12.4% year-over-year. Demand for our new products continued to show strong momentum
during our typically lowest season.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In terms of product mix, MOSFET
revenue was $70.8 million, an increase of 1.4% from the prior quarter, and up 11.5% from the same quarter last year. Power IC
revenue was $19.3 million, down 11.7% from the prior quarter, and up 18.8% from the same quarter last year. Service revenue was
$3.2 million, as compared to $3.0 million for the prior quarter and $3.3 million from the same quarter last year.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In terms of segment mix, this
quarter&rsquo;s Computing segment represented 41.1% of the total revenue, Consumer 22.0%, Power Supply and Industrial 19.7%, Communications
13.6%, Service 3.4% and others 0.2%.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross margin was 24.3% for
the March quarter, as compared to 23.3% in the prior quarter and 19.7% for the same quarter last year. The increase in gross margin
quarter-over-quarter was mainly driven by the new product contribution and improved product mix.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating expenses for the
quarter were $19.7 million, compared to $19.3 million for the prior quarter and $16.4 million for the same quarter last year.
The higher operating expenses quarter-over-quarter were primarily due to the headcount increase in R&amp;D and sales and marketing
functions to support our expected business growth.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 104.25pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income tax expense was $0.5
million for the quarter, compared to $1.1 million for the prior quarter and $1.2 million for the same quarter last year. The decrease
in income tax expense quarter-over-quarter was primarily due to the release of previous reserve after the expiration of applicable
statute of limitation.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net income attributable to
AOS for the quarter was approximately $3.6 million or 14 cents earnings per share, as compared to 11 cents earnings per share
for the prior quarter and 6 cents loss per share for the same quarter last year.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-GAAP EPS attributable to
AOS for the quarter was 21 cents earnings per share, as compared to 18 cents earnings per share for the prior quarter, and break
even for the same quarter last year. Non-GAAP EPS excluded the effect of share based compensation expenses of $1.7 million for
the March quarter as compared to $1.6 million in the prior quarter and $1.2 million in the same quarter last year.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We continue to generate positive
cash flow. Cash flow from operations was $11.0 million for the March quarter compared to $8.8 million for the prior quarter and
$1.7 million for the same quarter last year.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">EBITDAS for the March quarter
was $12.6 million compared to $12.2 million for the prior quarter and $8.1 million for the same quarter last year.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Moving on to the balance sheet.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We completed the March quarter
with cash and cash equivalents balance of $116.2 million including $7.2 million balance at our Chongqing Joint Venture, as compared
to $122.8 million at the end of last quarter and $78.9 million a year ago.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net trade receivables were
$22.5 million, as compared to $24.5 million at the end of last quarter and $32.0 million for the same quarter last year. Day Sales
Outstanding was 35 days for the quarter, same as compared to the prior quarter.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net inventory was $73.3 million
at the quarter-end, compared to $70.2 million for last quarter and $67.9 million for the prior year. Average Days in Inventory
were 92 days for the quarter compared to 87 days in the prior quarter.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net Property, Plant and Equipment
balance was $126.1 million, as compared to $122.7 million for last quarter and $112.5 million for the prior year. Capital expenditures
were $17.0 million for the quarter, including $12.2 million related to our Chongqing Joint Venture, mainly driven by the down
payment for the construction work that started during the March quarter. The remaining balance of $4.8 million was spent for our
own capacity expansion to open up some critical bottleneck.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">With that, now I would like
to turn the call over to our CEO, Dr. Mike Chang, who will provide the business highlights for the quarter.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Mike Chang (Chief Executive
Officer):</U></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">AOS delivered another outstanding
quarter with improved profitability against the lowest seasonality during the March quarter. Our quarterly revenue of $93.3 million
was close to the high-end of our guidance and up 12.4% from the same quarter a year ago. More importantly, we have achieved a
pro-forma earnings per share of $0.21, which is 11% higher than the pro-forma earnings we reported during the last high season
in the September 2016 quarter. The enhanced profitability was driven by gross margin expansion mainly through a favorable product
mix. We posted the eighth consecutive quarter of gross margin growth, which we believe validates our business strategy and successful
product executions.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">During the early stage of our
recovery, we sharpened our strategic decision to focus on market-driven R&amp;D investment. We implemented this by building upon
our core competencies in engineering and manufacturing to develop versatile technology platforms adaptable to a wide range of
applications. I am pleased to see that our new product introduction is progressing well and is contributing to the revenue and
gross margin lines. We continued to develop a healthy pipeline of new products and our products are gaining traction at a diverse
customer base. I am looking forward to updating you on product activities as new opportunities continue to take shape.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Before I touch upon our segment
report, let me take a few moments to comment on our supply situation. While we have limited control over the constraints at third-party
foundries, we are taking pro-active and deliberate steps to support our customers and prioritize our business. We are making good
headway in easing the supply constraints. Some key tools are being delivered and installed during the June quarter, which will
open up additional capacity in the Oregon fab. We are also expediting some transfer activities from third-party foundries to our
fab. We expect these actions to gradually alleviate capacity constraints starting from the September quarter.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Now, I will review our performance
in each business segment. First, Computing segment: It represented 41.1% of the total revenue in the March quarter. We posted
a 5.5% sequential increase and 27.0% growth year-over-year. The increase from a year ago was driven by the higher BOM content,
market share gains, as well as SAM expansion into new applications. Looking ahead, as Kabylake is just starting to ramp, the demand
for Skylake products remains strong. In addition, we are seeing developing strength in our new products for Vcore applications
for high-end notebook, gaming notebook, and workstations. By expanding market share and shipments of new products, we expect to
see a healthy growth in our Computing segment in calendar year 2017.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Second, Consumer: It was 22.0%
of the total revenue. It decreased 14.6% sequentially and down 8.6% compared to the prior year. The decline was greater than the
seasonal norm as this segment is more exposed to the wafer shortage from third-party foundries that are operating at full capacity.
As the increasing shipments of the new products from our fab are expected to offset the supply shortage impact, we anticipate
the Consumer segment revenue to start to improve from the June quarter.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Third, Power Supply and Industrial
segment: It was 19.7% of the total revenue, which was down 7.5% sequentially, and up 0.6% from the last year. The flattish revenue
year-over-year was due mainly to the product mix management. Under the tight supply environment, we have been more selective about
incoming orders and allocation to optimize our portfolio. With the additional internal capacity expected to come online starting
from the September quarter, we anticipate to increase the shipments of growing applications to meet customers&rsquo; demand. We
expect this segment to gradually improve through calendar year 2017.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lastly, our Communications
segment delivered strong results. The revenue was 13.6% of the total revenue, representing a growth of 12.2% sequentially and
44.7% year-over year. The upsurge in revenue was fueled by the increased shipments of the AlphaDFN products. Our ultra thin AlphaDFN
products enabled us to further penetrate the customer base in smartphone battery management applications. These results not only
exemplify the advantages of our technology but also represent clear signs of success for our mobile strategy. As mobile application
is entering its high season, we expect the demand for our AlphaDFN product line and the surge protection product line to continue
to rise for the second half of 2017. Additionally, we anticipate growing shipments of telecom networking products bolstered by
solid demand for the superior performance of our medium voltage MOSFET.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">With the initial success of
new product introduction, we have demonstrated the healthy earnings leverage with our business model. We believe that our business
model can produce even greater earnings potential as we are entering into emerging new product cycles and generating higher revenue.
The entire team at AOS continues to put forth the best effort to create robust demand by investing in differentiated technologies
and introducing market driven new products, which we believe will further propel our growth and profitability.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Yifan Liang: Guidance for
the next quarter</U></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">As we look forward to the fourth
quarter of fiscal year 2017, we expect:</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         June quarter&rsquo;s revenue to be in the range of $95 million to $99 million. This reflects
                                         the supply constraint impact that Mike discussed earlier.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">GAAP
                                         gross margin to be approximately 24.5% plus or minus 1%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">GAAP
                                         operating expenses to be in the range of $19.8 million plus or minus $1 million.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Tax
                                         expenses to be about $1.0 million to $1.2 million.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Loss
                                         attributable to non-controlling interest to be around $1.2 million to $1.3 million.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         share-based compensation to be in the range of $1.6 million to $1.8 million.</FONT></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">As per our regular practice,
we are not assuming any obligations to update this information. With that, we will open up the floor for questioning.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Closing:</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">This concludes our earnings
call today. Thank you for your interest in AOS and we look forward to talking to you again next quarter.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Forward Looking Statements</I></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>This script contains forward-looking
statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's
judgment, beliefs, current trends, and anticipated product performance. These forward looking statements include, without limitation,
statements relating to projected amount of revenues, gross margin, operating expenses, operating income (loss), tax expenses,
net income (loss), noncontrolling interest and share-based compensation expenses, statements regarding market segments, diversification
of products and new customers; expectation with respect to improvement in profit, our recovery progress and competitive position;
the expected trend on revenue and sales for each segment of our serviceable market; the progress of construction of manufacturing
facility in our joint venture with Chongqing funds; our ability and strategy to develop new products, expand our sales, revenue
and profitability, growth in revenue and market share, including adoption of low-voltage and power IC products and ramp up of
Skylake/Kabylake platform; seasonality fluctuation in customer demand; our ability to manage supply constraints; the execution
of our business plan, and other information regarding the future development of our business. Forward looking statements involve
risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements.
These factors include, but are not limited to, the decline of the PC industry and our ability to respond to such decline, our
ability to introduce or develop new and enhanced products that achieve market acceptance, the actual product performance in volume
production, the quality and reliability of our product, our ability to achieve design wins, the general business and economic
conditions, the state of semiconductor industry and seasonality of our markets, our ability to maintain factory utilization at
a desirable level, our ability to execute the joint venture successfully, and other risks as described in our SEC filings, including
our Annual Report on Form 10-K for the fiscal year ended June 30, 2016 filed by AOS on August 26, 2016. Other unknown or unpredictable
factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those
in the forward-looking statements. Although we believe that the expectations reflected in the forward looking statements are reasonable,
we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these
forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and
AOS undertakes no duty to update such information, except as required under applicable law.</I></FONT></P>

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