AMKOR TECHNOLOGY, INC.

Previous wording

Amkor’s broad and strategically located manufacturing footprint is a key differentiator, enabling us to deliver flexible, resilient and cost-effective solutions to customers worldwide. With facilities located in key manufacturing regions in Asia and Europe, we provide customers with multiple options to mitigate risk, diversify supply chains and support regionalization initiatives. As a U.S. headquartered OSAT, we are expanding our manufacturing footprint with the construction of a new facility in Arizona. Construction began in the second half of 2025, and we believe that this investment will strengthen our ability to serve customers seeking to regionalize their supply chains and will enhance our participation in U.S. semiconductor initiatives. In addition, we continue to scale production in our Vietnam facility, which opened in 2024, further increasing our capacity and operational flexibility in Asia. Our scale and geographic diversity allow us to qualify production at multiple sites, optimize asset utilization and absorb large orders with quick turnaround times.

Current wording

Amkor’s broad and strategically located manufacturing footprint is a key differentiator, enabling us to deliver flexible, resilient and cost-effective solutions to customers worldwide. With facilities located in key manufacturing regions in Asia and Europe, we provide customers with multiple options to mitigate risk, diversify supply chains and support regionalization initiatives. As a U.S. headquartered OSAT, we are expanding our manufacturing footprint with the construction of a new facility in Arizona. Construction began in the second half of 2025, and we believe that this investment will strengthen our ability to serve customers seeking to regionalize their supply chains and will enhance our participation in U.S. semiconductor initiatives. In addition, we continue to scale production in our Vietnam facility, which opened in 2024, further increasing our capacity and operational flexibility in Asia. Our scale and geographic diversity allow us to qualify production at multiple sites and optimize asset utilization.

Previous wording

High performance computing supporting artificial intelligence and increasing demand for improved networking speed and storage within data centers, cloud computing, PCs and laptops are driving increasing demand for semiconductors and advanced packaging in the computing end market. Increasing semiconductor content in automobiles is driving demand for advanced packaging to enable safety features such as advanced driver assistance systems (“ADAS”), in-car computing, radar and digital cockpit features such as infotainment displays and telematics. Increasing battery voltage, higher voltage power converters, onboard chargers, automotive inverter components and microcontrollers also require innovative power packaging solutions. Hearables, watches and augmented and virtual reality devices integrate multiple functions, such as processors, sensors and connectivity devices, into small form factors, which requires innovation in advanced packaging. We have a strong position across multiple device functionalities within premium and high-tier smartphones. We are collaborating with industry leaders as smartphones transition to include artificial intelligence and drive semiconductor growth through the adoption of new wireless standards, integration of a broad range of applications, enhanced features and higher performance requirements to support increased data processing. The trend to greater functionality drives miniaturization and innovation enabled by advanced packaging.

Current wording

HPC supporting AI and increasing demand for improved networking speed and storage within data centers, cloud computing, PCs and laptops are driving increasing demand for semiconductors and advanced packaging in the computing end market. Increasing semiconductor content in automobiles is driving demand for advanced packaging to enable safety features such as advanced driver assistance systems (“ADAS”), in-car computing, radar and digital cockpit features such as infotainment displays and telematics. Increasing battery voltage, higher voltage power converters, onboard chargers, automotive inverter components and microcontrollers also require innovative power packaging solutions. Hearables, watches and augmented and virtual reality devices integrate multiple functions, such as processors, sensors and connectivity devices, into small form factors, which requires innovation in advanced packaging. We have a strong position across multiple device functionalities within premium and high-tier smartphones. We are collaborating with industry leaders as smartphones transition to include artificial intelligence and drive semiconductor growth through the adoption of new wireless standards, integration of a broad range of applications, enhanced features and higher performance requirements to support increased data processing. The trend to greater functionality drives miniaturization and innovation enabled by advanced packaging.

Previous wording

As a supplier in the semiconductor industry, our business is cyclical and impacted by broad economic factors. Historical trends indicate there has been a strong correlation between worldwide gross domestic product levels, consumer spending

Current wording

As a supplier in the semiconductor industry, our business is cyclical and impacted by broad economic factors. Historical trends indicate there has been a strong correlation between worldwide gross domestic product levels, consumer spending and semiconductor industry cycles. The semiconductor industry has experienced significant and sometimes prolonged

Previous wording

-22- and semiconductor industry cycles. The semiconductor industry has experienced significant and sometimes prolonged cyclical upturns and downturns in the past. We cannot predict the timing, strength or duration of any correction, economic slowdown, recession or subsequent economic recovery.

Current wording

-25- cyclical upturns and downturns in the past. We cannot predict the timing, strength or duration of any correction, economic slowdown, recession or subsequent economic recovery.

Previous 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 other investments and servicing principal and interest obligations with respect to our debt, from cash flows from our operations, existing cash and cash equivalents, borrowings under available debt facilities and/or proceeds from any additional debt or equity financing. Our liquidity is affected by, among other factors, volatility in the global economy and credit markets, the performance of our business, our capital expenditures and other investment levels, other uses of our cash, including any payments of dividends and purchases of stock under any stock repurchase program, any acquisitions or investments in joint ventures and any decisions we might make to either repay debt and other long-term obligations out of our operating cash flows or refinance debt at or prior to maturity with the proceeds of debt or equity financings. As of March 31, 2026, we had cash and cash equivalents and short-term investments of $1,121.2 million and $727.3 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 other investments and servicing principal and interest obligations with respect to our debt, from cash flows from our operations, existing cash and cash equivalents, borrowings under available debt facilities and/or proceeds from any additional debt or equity financing. Our liquidity is affected by, among other factors, volatility in the global economy and credit markets, the performance of our business, our capital expenditures and other investment levels, other uses of our cash, including any payments of dividends and purchases of stock under any stock repurchase program, any acquisitions or investments in joint ventures and any decisions we might make to either repay debt and other long-term obligations out of our operating cash flows or refinance debt at or prior to maturity with the proceeds of debt or equity financings. As of June 30, 2026, we had cash and cash equivalents and short-term investments of $1,551.9 million and $960.3 million, respectively.

Previous wording

Our net sales increased $363.1 million, or 27.5%, to $1,684.7 million for the three months ended March 31, 2026 compared to $1,321.6 million for the three months ended March 31, 2025, primarily due to growth across all end markets.

Current wording

Our net sales increased $386.6 million, or 25.6%, to $1,898.0 million for the three months ended June 30, 2026 compared to $1,511.4 million for the three months ended June 30, 2025, due to growth across all end markets.

Previous wording

Gross margin for the three months ended March 31, 2026 increased to 14.2% compared to 11.9% for the three months ended March 31, 2025. The increase in gross margin was primarily due to higher factory utilization driven by the increase in net sales, partially offset by an increase in the proportion of products sold with higher material content and increased overhead and employee compensation costs.

Current wording

Gross margin for the three months ended June 30, 2026 increased to 16.8% compared to 12.0% for the three months ended June 30, 2025. The increase in gross margin was primarily due to higher factory utilization driven by the increase in net sales.

Previous wording

Operating income margin for the three months ended March 31, 2026 increased to 6.0% compared to 2.4% for the three months ended March 31, 2025, primarily due to the increasein our gross margin discussed above.

Current wording

Operating income margin for the three months ended June 30, 2026 increased to 10.5% compared to 6.1% for the three months ended June 30, 2025, primarily due to the increase in our gross margin discussed above and a gain on disposal of fixed assets, partially offset by the net amount recognized in 2025 for a cash receipt subject to bankruptcy proceedings related to our Nanium acquisition in May 2017 (“Nanium Insolvency Receipt”).

Previous wording

Our capital expenditures totaled $224.6 million for the three months ended March 31, 2026 compared to $79.9 million for the three months ended March 31, 2025. Our spending was primarily focused on investments in advanced packaging and test equipment and the Arizona Facility.

Current wording

Our capital expenditures totaled $688.4 million for the six months ended June 30, 2026 compared to $226.1 million for the six months ended June 30, 2025. Our spending was primarily focused on investments in advanced packaging and test equipment and the Arizona Facility.

Previous wording

Net cash provided by operating activities was $145.1 million for the three months ended March 31, 2026 compared to $24.1 million for the three months ended March 31, 2025. This increase was primarily due to higher operating profits and changes in working capital.

Current wording

Net cash provided by operating activities was $381.6 million for the six months ended June 30, 2026 compared to $282.6 million for the six months ended June 30, 2025. This increase was primarily due to higher operating profits, partially offset by changes in working capital.

Previous wording

The increase in net sales for the three months ended March 31, 2026 compared to the three months ended March 31, 2025 was primarily due to growth across all end markets. The communications and automotive and industrial end markets grew 42% and 28%, respectively, for the three months ended March 31, 2026 compared to 2025, primarily driven by increased supported content in premium tier smartphones and growth in ADAS and industrial applications, respectively. The computing and consumer end markets grew 19% and 4%, respectively, for the three months ended March 31, 2026 compared to 2025, primarily driven by strength in datacenter and traditional consumer products, respectively.

Current wording

The increase in net sales for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025 was due to growth across all end markets. The communications end market grew 32% and 37% and the automotive and industrial end market grew 35% and 31% for the three and six months ended June 30, 2026 compared to 2025, respectively, primarily due to increased supported content in premium tier smartphones and growth in ADAS and industrial applications. Additionally, the computing end market grew 23% and 21% for the three and six months ended June 30, 2026 compared to 2025, respectively, primarily driven by strength in datacenter.

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 increased for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to higher factory utilization driven by the increase in net sales, partially offset by an

Current wording

Gross profit and gross margin increased for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, primarily due to higher factory utilization driven by the increase in net sales.

Previous wording

Selling, general and administrative expenses increased for the three months ended March 31, 2026 compared to thethree months ended March 31, 2025, primarily due to increased employee compensation and software-related costs.

Current wording

Selling, general and administrative expenses increased for the three and six months ended June 30, 2026 compared to thethree and six months ended June 30, 2025, primarily due to the Nanium Insolvency Receipt recognized in 2025 and increased employee compensation costs, partially offset by a gain on disposal of fixed assets. 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 gain recognized from the disposal of fixed assets for the three and six months ended June 30, 2026 was approximately $21 million.

Previous wording

Research and development expenses decreased for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to projects moving into production, partially offset by development projects in new advanced packaging technologies.

Current wording

Research and development expenses decreased for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, primarily due to projects moving into production, partially offset by development projects in new advanced packaging technologies.

Previous wording

Income tax expense, which includes foreign withholding taxes, minimum taxes and certain tax credits, 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 March 31, 2026 compared to the three months ended March 31, 2025, primarily due to an increase in income before income taxes.

Current wording

Income tax expense, which includes foreign withholding taxes, minimum taxes and certain tax credits, 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, 2026 compared to the three and six months ended June 30, 2025, primarily due to an increase in income before income taxes. Income tax expense for the three months ended June 30, 2025 included discrete tax expense associated with the Nanium Insolvency Receipt.

Previous wording

During the three months ended March 31, 2026 and 2025, our subsidiaries in Singapore and Vietnam operated under various conditional reduced tax rates. The conditional reduced tax rates granted to certain operations in Korea expired during 2025. 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 six months ended June 30, 2026 and 2025, our subsidiaries in Singapore and Vietnam operated under various conditional reduced tax rates. The conditional reduced tax rates granted to certain operations in Korea expired during 2025. 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 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

As of March 31, 2026, we had cash and cash equivalents and short-term investments of $1,848.5 million. Included in our cash and short-term investments balances as of March 31, 2026 is $1,400.4 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 June 30, 2026, we had cash and cash equivalents and short-term investments of $2,512.2 million. Included in our cash and short-term investments balances as of June 30, 2026 is $1,269.9 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 three months ended March 31, 2026 and 2025, we sold receivables totaling $20.9 million and $9.4 million, respectively, net of discounts and fees, which were insignificant for the respective periods.

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 six months ended June 30, 2026 and 2025, we sold receivables totaling $30.4 million and $25.5 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 the U.S. Department of Commerce (the “Commerce Department”) 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 a 35% investment tax credit on qualified investments in U.S. semiconductor manufacturing under the CHIPS Act and the One Big Beautiful Bill Act (“OBBBA”). 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 the U.S. Department of Commerce (the “Commerce Department”) 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 a 35% investment tax credit on qualified investments in U.S. semiconductor manufacturing under the CHIPS Act and the One Big Beautiful Bill Act (“OBBBA”).

Previous wording

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. As of March 31, 2026, we had availability of $1.0 billion under the 2025 Revolving Credit Facility. As of March 31, 2026, our foreign subsidiaries also had $55.9 million available to be borrowed under term loan credit facilities.

Current wording

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. As of June 30, 2026, we had availability of $1.0 billion under the 2025 Revolving Credit Facility. As of June 30, 2026, our foreign subsidiaries also had $54.7 million available to be borrowed under term loan credit facilities.

Previous wording

As of March 31, 2026, we had debt of $1,414.2 million, with $157.0 million payable within 12 months. As of March 31, 2026, the interest payment obligations, based on stated coupon rates for fixed rate debt and interest rates applicable at March 31, 2026 for variable rate debt, were $357.2 million during the remaining term of the debt. Interest payment obligations payable within 12 months were $64.8 million. We were in compliance with all debt covenants as of March 31, 2026, 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 June 30, 2026, we had debt of $2,485.7 million, with $150.8 million payable within 12 months. As of June 30, 2026, the interest payment obligations, based on stated coupon rates for fixed rate debt and interest rates applicable at June 30, 2026 for variable rate debt, were $333.1 million during the remaining term of the debt. Interest payment obligations payable within 12 months were $63.4 million. We were in compliance with all debt covenants as of June 30, 2026, 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

We lease certain machinery and equipment, office space and manufacturing facilities. As of March 31, 2026, our total remaining operating lease obligations and finance lease obligations were $78.5 million and $154.7 million, respectively, with $26.5 million and $47.7 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 June 30, 2026, our total remaining operating lease obligations and finance lease obligations were $71.6 million and $145.1 million, respectively,

Previous wording

We had off-balance sheet purchase obligations for capital expenditures, long-term supply contracts and other contractual commitments. As of March 31, 2026, the purchase obligations were $1,034.1 million, with $947.2 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 June 30, 2026, the purchase obligations were $1,465.2 million, with $1,395.1 million payable within 12 months.

Previous wording

We enter into customer advance payment agreements from time to time, some of which require standby letters of credit. As of March 31, 2026, we expect to receive approximately $300 million of advance payments over a two-year period, all of which will require standby letters of credit upon receipt. For additional information regarding our customer advance payments, please refer to Note 1 to our Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q.

Current wording

We enter into customer advance payment agreements from time to time, some of which require standby letters of credit. As of June 30, 2026, we expect to receive approximately $300 million of advance payments over a two-year period, all of which will require standby letters of credit upon receipt. In July 2026, we received $100.0 million of customer advance payments and issued the related standby letters of credit. During the same month, we separately entered into an advance payment agreement with a customer pursuant to which we expect to receive approximately $1.5 billion in 2027. For additional information regarding our customer advance payments, please refer to Note 1 to our Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q.

Previous wording

During the three months ended March 31, 2026, we paid total quarterly cash dividends of $20.7 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 six months ended June 30, 2026, we paid total quarterly cash dividends of $41.4 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. During the three months ended March 31, 2026, our capital expenditures totaled $224.6 million, which are primarily focused on investments in advanced packaging and test equipment and the Arizona Facility.

Current wording

We make significant capital expenditures in order to service the demand of our customers. During the six months ended June 30, 2026, our capital expenditures totaled $688.4 million, which are primarily focused on investments in advanced packaging and test equipment and the Arizona Facility.

Previous wording

Net cash provided by (used in) operating, investing and financing activities for the three months ended March 31, 2026 and 2025, was as follows:

Current wording

Net cash provided by (used in) operating, investing and financing activities for the six months ended June 30, 2026 and 2025, was as follows:

Previous wording

Operating activities: Our cash flow provided by operating activities for the three months ended March 31, 2026 increased by $120.9 million compared to the three months ended March 31, 2025, primarily due to higher operating profits and changes in working capital.

Current wording

Operating activities: Our cash flow provided by operating activities for the six months ended June 30, 2026 increased by $99.0 million compared to the six months ended June 30, 2025, primarily due to higher operating profits, partially offset by changes in working capital.

Previous wording

Investing activities: Our cash flow used in investing activities for thethree months ended March 31, 2026 increased by $271.7 million compared to the three months ended March 31, 2025, primarily due to higher payments for property, plant and equipment and net payments for short-term investments in the current year. 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 thesix months ended June 30, 2026 increased by $801.9 million compared to the six months ended June 30, 2025, primarily due to higher payments for property, plant and equipment and net payments for short-term investments 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 three months ended March 31, 2026 compared to the three months ended March 31, 2025 were primarily due to the timing of our quarterly dividend payment for the respective periods.

Current wording

Financing activities: The changes in financing activities for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 were primarily due to increased net debt borrowings, partially offset by payments for Capped Calls.