AMKOR TECHNOLOGY, INC.

Previous wording

Our broad geographic footprint, including our manufacturing presence in multiple countries across Asia, in Portugal and our headquarters in the United States, is a key differentiator and positions us well to support evolving global supply chains, including initiatives to regionalize supply chains. We began delivering advanced packages from the Vietnam Facility in the third quarter of 2024. In addition, we are progressing plans to build an advanced packaging and test facility in Arizona and were awarded up to $407 million in direct funding by the U.S. Department of Commerce (“Commerce”) pursuant to the U.S. CHIPS and Science Act of 2022 (“CHIPS Act”) to support the facility, conditioned on, among other things, the achievement of certain construction and production milestones. We acquired the land for the Arizona Facility in 2024 and expect to begin construction in the second half of 2025. We believe our broad geographic footprint provides customers with multiple options to mitigate risk and diversify their supply chains.

Current wording

Our broad geographic footprint, including our manufacturing presence in multiple countries across Asia, in Portugal and our headquarters in the United States, is a key differentiator and positions us well to support evolving global supply chains, including initiatives to regionalize supply chains. We began delivering advanced packages from the Vietnam Facility in the third quarter of 2024. In addition, we were awarded up to $407 million in direct funding by the U.S. Department of Commerce (“Commerce”) pursuant to the U.S. CHIPS and Science Act of 2022 (“CHIPS Act”) to support the Arizona Facility, conditioned on, among other things, the achievement of certain construction and production milestones. We acquired the land for the Arizona Facility in 2024, which we expect to exchange for another parcel of land in the fourth quarter of 2025. Activities to prepare the site for construction commenced in September 2025. We believe our broad geographic footprint provides customers with multiple options to mitigate risk and diversify their supply chains.

Previous wording

-25- expected revenues and without firm customer commitments. We fund our operations, including capital expenditures and debt service requirements, with cash flows from operations, existing cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional financing. Maintaining an appropriate level of liquidity is important to our business and depends on, among other considerations, the performance of our business, our capital expenditure levels, our ability to repay debt out of our operating cash flows or proceeds from debt or equity financings and our investment strategy. As of June 30, 2025, we had cash and cash equivalents and short-term investments of $1,527.4 million and $516.4 million, respectively.

Current wording

We operate in a capital-intensive industry. Servicing our current and future customers requires that we incur significant operating expenses and continue to make significant capital expenditures, which are generally made in advance of expected revenues and without firm customer commitments. We fund our operations, including capital expenditures and debt service requirements, with cash flows from operations, existing cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional financing. Maintaining an appropriate level of liquidity is important to our business and depends on, among other considerations, the performance of our business, our capital expenditure levels, our ability to repay debt out of our operating cash flows or proceeds from debt or equity financings and our investment strategy. As of September 30, 2025, we had cash and cash equivalents and short-term investments of $1,495.7 million and $614.7 million, respectively.

Previous wording

Our capital expenditures totaled $226.1 million for the six months ended June 30, 2025 compared to $262.5 million for the six months ended June 30, 2024. Our spending was primarily focused on investments in advanced packaging and test equipment.

Current wording

Our capital expenditures totaled $472.5 million for the nine months ended September 30, 2025 compared to $458.1 million for the nine months ended September 30, 2024. Our spending was primarily focused on investments in advanced packaging and test equipment.

Previous wording

Net cash provided by operating activities was $282.6 million for the six months ended June 30, 2025 compared to $387.1 million for the six months ended June 30, 2024. This decrease was primarily due to changes in working capital and lower operating profits.

Current wording

Net cash provided by operating activities was $451.1 million for the nine months ended September 30, 2025 compared to $551.3 million for the nine months ended September 30, 2024. This decrease was primarily due to changes in working capital and lower operating profits.

Previous wording

The increase in net sales for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024 was primarily due to growth in our consumer and computing end markets, partially offset by lower sales in our communication end market. The consumer end market grew 52% and 37% and the computing end market grew 16% and 18% for the three and six months ended June 30, 2025 compared to 2024, respectively, primarily driven by strong demand for IoT wearables, AI devices and ARM-based PCs. The communications end market decreased 15% and 17% for the three and six months ended June 30, 2025 compared to 2024, respectively, primarily due to lower supported content in premium tier smartphones.

Current wording

The increase in net sales for the nine months ended September 30, 2025 compared to thenine months ended September 30, 2024 was primarily due to growth in our computing and consumer end markets, partially offset by a decrease in the communications end market. The computing and consumer end markets grew 20% and 18%, respectively, for the nine months ended September 30, 2025 compared to 2024, primarily driven by strong demand across all computing applications as well as IoT wearables. The communications end market decreased 8% for the nine months ended September 30, 2025 compared to 2024, primarily driven by lower supported content in premium tier smartphones.

Previous wording

Our cost of sales consists principally of materials, labor, depreciation and manufacturing overhead. Since a substantial portion of the costs at our factories is fixed, there tends to be a strong relationship between our revenue levels and gross margin. Accordingly, relatively modest increases or decreases in revenue can have a significant effect on margin and on labor and other manufacturing costs as a percentage of revenue, depending on product mix, utilization, foreign currency exchange rate movements and seasonality. We have expanded our business in advanced packaging, which tends to have higher material costs than our other products. As we continue to increase production of these higher material cost products, there could be an impact on our profitability, depending on overall utilization.

Current wording

Our cost of sales consists principally of materials, labor, depreciation and manufacturing overhead. Since a substantial portion of the costs at our factories is fixed, there tends to be a strong relationship between our revenue levels and gross margin. Accordingly, relatively modest increases or decreases in revenue can have a significant effect on margin and on labor and other manufacturing costs as a percentage of revenue, depending on product mix, utilization, foreign currency exchange rate movements and seasonality. We have expanded our business in advanced packaging, which tends to have

Previous wording

Gross profit and gross margin decreased for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, primarily due to increased overhead and employee compensation costs to prepare for our seasonal second half volume. Gross profit and gross margin were also impacted by the ramp up of the Vietnam Facility, which is in the early stages of high-volume manufacturing.

Current wording

Gross margin decreased for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, primarily due to increased overhead and employee compensation costs, partially offset by a decrease in the proportion of products sold with higher material content and higher factory utilization driven by the increase in net sales. Gross profit and gross margin for the nine months ended September 30, 2025 was also impacted by the ramp up of the Vietnam Facility, which is in the early stages of high-volume manufacturing.

Previous wording

Selling, general and administrative expenses decreased for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, primarily due to net cash received in the Nanium Insolvency Receipt and the incremental costs incurred in 2024 during start-up at the Vietnam Facility. The amount recognized from the Nanium Insolvency Receipt for the three and six months ended June 30, 2025, net of amounts remitted to the selling shareholders, was $32.4 million. The incremental costs incurred during start-up at the Vietnam Facility were approximately $13 million and $25 million for the three and six months ended June 30, 2024, respectively. For additional information regarding the Nanium Insolvency Receipt, please refer to Note 15 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q.

Current wording

Selling, general and administrative expenses decreased for the nine months ended September 30, 2025 compared to thenine months ended September 30, 2024, primarily due to net cash received in the Nanium Insolvency Receipt and the incremental costs incurred in 2024 during start-up at the Vietnam Facility. The amount recognized from the Nanium Insolvency Receipt for the nine months ended September 30, 2025, net of amounts remitted to the selling shareholders, was $32.4 million. The incremental costs incurred during start-up at the Vietnam Facility were approximately $28 million for the nine months ended September 30, 2024. For additional information regarding the Nanium Insolvency Receipt, please refer to Note 15 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q.

Previous wording

Research and development expenses increased for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, primarily due to development projects in new mainstream and advanced packaging technologies.

Current wording

Research and development expenses increased for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to development projects in new advanced and mainstream packaging technologies.

Previous wording

Interest income decreased for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, primarily due to lower interest rates.

Current wording

Interest income decreased for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to lower interest rates partially offset by increases in our cash and cash equivalent and available-for-sale debt investment balances.

Previous wording

The changes in foreign currency (gain) loss, net for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024 were primarily due to the weakening of the U.S. dollar compared to the foreign currencies of our subsidiaries and the associated impact on our unhedged net monetary exposures.

Current wording

The changes in foreign currency (gain) loss, net for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 were primarily due to the weakening of the U.S. dollar compared to the foreign currencies of our subsidiaries and the associated impact on our unhedged net monetary exposures in 2024.

Previous wording

Income tax expense, which includes foreign withholding taxes and minimum taxes, reflects the applicable tax rates in effect in the various countries where our income is earned and is subject to volatility depending on the relative mix of earnings in each location. Income tax expense increased for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, primarily due to discrete tax expense associated with the Nanium Insolvency Receipt. For additional information regarding the Nanium Insolvency Receipt, please refer to Note 15 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q.

Current wording

Income tax expense, which includes foreign withholding taxes and minimum taxes, reflects the applicable tax rates in effect in the various countries where our income is earned and is subject to volatility depending on the relative mix of earnings in each location. Income tax expense increased for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to an increase in income before income taxes. Income tax expense increased for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to discrete tax expense associated with the Nanium Insolvency Receipt. For additional information regarding the Nanium Insolvency Receipt, please refer to Note 15 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q.

Previous wording

During the six months ended June 30, 2025 and 2024, our subsidiaries in Korea, Singapore and Vietnam operated under various conditional reduced tax rates. As these conditional reduced tax rates expire, income earned in these jurisdictions will be subject to higher statutory income tax rates, which may cause our effective tax rate to increase.

Current wording

During the nine months ended September 30, 2025 and 2024, our subsidiaries in Korea, Singapore and Vietnam operated under various conditional reduced tax rates. As these conditional reduced tax rates expire, income earned in these jurisdictions will be subject to higher statutory income tax rates, which may cause our effective tax rate to increase.

Previous wording

Our primary source of cash and the source of funds for our operations are cash flows from operations, current cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional debt or equity financings. Please refer to Note 7 and Note 11 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q for additional information on our investments and borrowings, respectively.

Current wording

Our primary source of cash and the source of funds for our operations are cash flows from operations, current cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional

Previous wording

As of June 30, 2025, we had cash and cash equivalents and short-term investments of $2,043.8 million. Included in our cash and short-term investments balances as of June 30, 2025 is$1,347.3 million held offshore by our foreign subsidiaries. We have the ability to access cash held offshore by our foreign subsidiaries primarily through the repayment of intercompany debt obligations. If we were to distribute this offshore cash to the United States as dividends from our foreign subsidiaries, the dividends generally would not be subject to U.S. federal income tax, but the distributions may be subject to foreign withholding and state income taxes.

Current wording

As of September 30, 2025, we had cash and cash equivalents and short-term investments of $2,110.4 million. Included in our cash and short-term investments balances as of September 30, 2025 is $1,109.3 million held offshore by our foreign subsidiaries. We have the ability to access cash held offshore by our foreign subsidiaries primarily through the repayment of intercompany debt obligations. If we were to distribute this offshore cash to the United States as dividends from our foreign subsidiaries, the dividends generally would not be subject to U.S. federal income tax, but the distributions may be subject to foreign withholding and state income taxes.

Previous wording

For certain accounts receivable, we use non-recourse factoring arrangements with third party financial institutions to manage our working capital and cash flows. Under these arrangements, we sell receivables to a financial institution for cash at a discount to the face amount. Available capacity under these arrangements is dependent on the level of our trade accounts receivable eligible to be sold, the financial institutions’ willingness to purchase such receivables and the limits provided by the financial institutions. These factoring arrangements can be reduced or eliminated at any time due to market conditions and changes in the creditworthiness of customers. For the six months ended June 30, 2025 and 2024,

Current wording

For certain accounts receivable, we use non-recourse factoring arrangements with third party financial institutions to manage our working capital and cash flows. Under these arrangements, we sell receivables to a financial institution for cash at a discount to the face amount. Available capacity under these arrangements is dependent on the level of our trade accounts receivable eligible to be sold, the financial institutions’ willingness to purchase such receivables and the limits provided by the financial institutions. These factoring arrangements can be reduced or eliminated at any time due to market conditions and changes in the creditworthiness of customers. For the nine months ended September 30, 2025 and 2024, we sold receivables totaling $88.7 million and $59.4 million, respectively, net of discounts and fees which were insignificant for the respective periods.

Previous wording

In December 2024, we signed a Direct Funding Agreement with Commerce for the award of up to $407 million in government incentives pursuant to the CHIPS Act, and no funds have been received to date. The award requires us to achieve construction and production milestones over the next several years. In addition, we are eligible to receive an investment tax credit on qualified investments in U.S. semiconductor manufacturing under the CHIPS Act. On July 4, 2025, the OBBBA was enacted in the United States, which includes a provision to increase the investment tax credit rate from 25% to 35% starting in 2026. For additional information, please refer to Note 1 to our Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q.

Current wording

In December 2024, we signed a Direct Funding Agreement with Commerce for the award of up to $407 million in government incentives pursuant to the CHIPS Act, and no funds have been received to date. The award requires us to achieve construction and production milestones over the next several years. In addition, we are eligible to receive an investment tax credit on qualified investments in U.S. semiconductor manufacturing under the CHIPS Act. On July 4, 2025, the OBBBA was enacted in the United States, which includes a provision to increase the investment tax credit rate from 25% to 35% for qualified property placed in service after 2025. For additional information, please refer to Note 1 to our Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q.

Previous wording

On May 9, 2025, we entered into the 2025 Revolving Credit Facility, which replaced our existing revolving credit facility. The maximum amount available to draw under the 2025 Revolving Credit Facility is $1.0 billion. The 2025 Revolving Credit Facility includes an uncommitted optional accordion of up to $200.0 million, which may be incurred in the form of revolving commitment increases or term loans. On June 27, 2025, we amended the 2025 Revolving Credit Facility agreement and created the $500.0 million Term A Loans, which are secured and guaranteed on apari passu basis to the existing agreement. In July 2025, a portion of the proceeds will be used to redeem $125.0 million of the Senior Notes and repay the remaining $98.0 million of the AATS Loans. The 2025 Revolving Credit Facility and Term A Loans will mature on May 9, 2030. As of June 30, 2025, we had availability of $1,000.0 million under the 2025 Revolving Credit Facility. As of June 30, 2025, our foreign subsidiaries also had $62.6 million available to be borrowed under term loan credit facilities.

Current wording

On May 9, 2025, we entered into the 2025 Revolving Credit Facility, which replaced our existing revolving credit facility. The maximum amount available to draw under the 2025 Revolving Credit Facility is $1.0 billion. The 2025 Revolving Credit Facility includes an uncommitted optional accordion of up to $200.0 million, which may be incurred in the form of revolving commitment increases or term loans. On June 27, 2025, we amended the 2025 Revolving Credit Facility agreement and created the $500.0 million Term A Loans, which are secured and guaranteed on apari passu basis to the existing agreement. In July 2025, a portion of the proceeds were used to redeem $125.0 million of the 2027 Notes and repay the remaining $98.0 million of the AATS Loans. The 2025 Revolving Credit Facility and Term A Loans will mature on May 9, 2030. As of September 30, 2025, we had availability of $1,000.0 million under the 2025 Revolving Credit Facility. As of September 30, 2025, our foreign subsidiaries also had $60.4 million available to be borrowed under term loan credit facilities.

Previous wording

As of June 30, 2025, we had debt of $1,573.0 million, with $374.9 million payable within 12 months. As of June 30, 2025, the interest payment obligations, based on stated coupon rates for fixed rate debt and interest rates applicable at June 30, 2025 for variable rate debt, were $214.1 million during the remaining term of the debt. Interest payment obligations payable within 12 months were $68.1 million. We were in compliance with all debt covenants as of June 30, 2025, and we expect to remain in compliance with these covenants for at least the next 12 months. For additional information regarding our debt arrangements, please refer to Note 11 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q.

Current wording

As of September 30, 2025, we had debt of $1,811.9 million, with $547.4 million payable within 12 months. As of September 30, 2025, the interest payment obligations, based on stated coupon rates for fixed rate debt and interest rates applicable at September 30, 2025 for variable rate debt, were $378.0 million during the remaining term of the debt. Interest payment obligations payable within 12 months were $53.3 million. We were in compliance with all debt covenants as of September 30, 2025, and we expect to remain in compliance with these covenants for at least the next 12 months. For additional information regarding our debt arrangements, please refer to Note 11 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q.

Previous wording

Certain of our debt agreements contain affirmative and negative covenants, including covenants to maintain a minimum interest coverage ratio and a maximum consolidated leverage ratio, which restrict our ability to pay dividends and could restrict our operations. These restrictions do not currently have a material impact on our ability to make dividend payments or stock repurchases.

Current wording

Certain of our debt agreements contain affirmative and negative covenants including, among others, covenants to maintain a minimum interest coverage ratio and a maximum consolidated leverage ratio, which restrict our ability to pay

Previous wording

We lease certain machinery and equipment, office space and manufacturing facilities. As of June 30, 2025, our total remaining operating lease obligations and finance lease obligations were $88.5 million and $187.6 million, respectively, with $28.5 million and $59.9 million payable within 12 months, respectively. The lease obligations represent our future minimum lease payments including interest payments.

Current wording

We lease certain machinery and equipment, office space and manufacturing facilities. As of September 30, 2025, our total remaining operating lease obligations and finance lease obligations were $91.2 million and $183.6 million, respectively, with $28.1 million and $81.7 million payable within 12 months, respectively. The lease obligations represent our future minimum lease payments including interest payments.

Previous wording

We had off-balance sheet purchase obligations for capital expenditures, long-term supply contracts and other contractual commitments. As of June 30, 2025, the purchase obligations were $445.2 million, with $404.0 million payable within 12 months.

Current wording

We had off-balance sheet purchase obligations for capital expenditures, long-term supply contracts and other contractual commitments. As of September 30, 2025, the purchase obligations were $704.8 million, with $642.4 million payable within 12 months.

Previous wording

During the six months ended June 30, 2025, we paid total quarterly cash dividends of $40.9 million, and we currently anticipate that we will continue to pay quarterly cash dividends in the future. However, the payment, amount and timing of future dividends remain within the discretion of our Board of Directors and will depend upon our results of operations, financial condition, cash requirements, debt restrictions and other factors.

Current wording

During the nine months ended September 30, 2025, we paid total quarterly cash dividends of $61.3 million, and we currently anticipate that we will continue to pay quarterly cash dividends in the future. However, the payment, amount and timing of future dividends remain within the discretion of our Board of Directors and will depend upon our results of operations, financial condition, cash requirements, debt restrictions and other factors.

Previous wording

We make significant capital expenditures in order to service the demand of our customers, which are primarily focused on investments in advanced packaging and test equipment. During the six months ended June 30, 2025, our capital expenditures totaled $226.1 million.

Current wording

We make significant capital expenditures in order to service the demand of our customers, which are primarily focused on investments in advanced packaging and test equipment. During the nine months ended September 30, 2025, our capital expenditures totaled $472.5 million.

Previous wording

We expect that our 2025 capital expenditures will be approximately $850 million, approximately 5% to 10% of which we expect to spend on the construction of the Arizona Facility. Ultimately, the amount of our 2025 capital expenditures will depend on several factors including, among others, the timing and implementation of any capital projects under review, including the commencement of construction for the Arizona Facility, the performance of our business, economic and market conditions, the cash needs and investment opportunities for the business, the need for additional capacity to service anticipated customer demand, equipment lead times and the availability of cash flows from operations or financing. The primary sources of funds for our capital expenditures are cash flows from operations, current cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional debt or equity financings. Please refer to Note 7 and Note 11 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q for additional information on our investments and borrowings, respectively.

Current wording

We expect that our 2025 capital expenditures will be approximately $950 million, approximately $200 million of which we expect to spend on the construction of the Arizona Facility. Ultimately, the amount of our 2025 capital expenditures will depend on several factors including, among others, the timing and implementation of any capital projects under review, including the progress of construction of the Arizona Facility, the performance of our business, economic and market conditions, the cash needs and investment opportunities for the business, the need for additional capacity to service anticipated customer demand, equipment lead times and the availability of cash flows from operations or financing. The primary sources of funds for our capital expenditures are cash flows from operations, current cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional debt or equity financings. Please refer to Note 7 and Note 11 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q for additional information on our investments and borrowings, respectively.

Previous wording

Net cash provided by (used in) operating, investing and financing activities for the six months ended June 30, 2025 and 2024, was as follows:

Current wording

Net cash provided by (used in) operating, investing and financing activities for the nine months ended September 30, 2025 and 2024, was as follows:

Previous wording

Operating activities: Our cash flow provided by operating activities for the six months ended June 30, 2025 decreased by $104.5 million compared to the six months ended June 30, 2024, primarily due to changes in working capital and lower operating profits.

Current wording

Operating activities: Our cash flow provided by operating activities for the nine months ended September 30, 2025 decreased by $100.1 million compared to the nine months ended September 30, 2024, primarily due to changes in working capital and lower operating profits.

Previous wording

Investing activities: Our cash flow used in investing activities for thesix months ended June 30, 2025 decreased by $69.3 million compared to the six months ended June 30, 2024, primarily due to net proceeds from foreign exchange forward contracts in the current year and lower payments for property, plant and equipment, partially offset by lower net proceeds for short-term investment activity. Payments for property, plant and equipment can fluctuate based on the timing of purchase, receipt and acceptance of equipment.

Current wording

Investing activities: Our cash flow used in investing activities for thenine months ended September 30, 2025 increased by $52.8 million compared to the nine months ended September 30, 2024, primarily due to higher net payments for short-term investments and higher payments for property, plant and equipment, partially offset by net proceeds from foreign exchange forward contracts in the current year. Payments for property, plant and equipment can fluctuate based on the timing of purchase, receipt and acceptance of equipment.

Previous wording

Financing activities: The changes in financing activities for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 were primarily due to net debt borrowings in the current year compared to net debt repayments in the prior year.

Current wording

Financing activities: The changes in financing activities for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 were primarily due to net debt borrowings in the current year compared to net debt repayments in the prior year.