Financial Analysis

Commitments and Contingencies We generally warrant that our services will be performed in a professional and workmanlike manner and in compliance with our customers specifications. We accrue costs for known warranty issues. Historically, our warranty costs have been immaterial. Insolvency payments associated with Nanium acquisition In June 2025, we received $72.8 million for the Nanium Insolvency Receipt. The terms of the purchase agreement from our Nanium acquisition in May 2017 required us to remit any insolvency payments received to the selling shareholders, less certain costs, including tax costs, incurred by us. In 2025, we remitted $40.4 million to the selling shareholders. Such amounts were recorded on a net basis within selling, general and administrative expenses in our Consolidated Statements of Income and as operating cash flows within our Condensed Consolidated Statements of Cash Flows. Legal Proceedings We are involved in claims and legal proceedings and may become involved in other legal matters arising in the ordinary course of our business. We evaluate these claims and legal matters on a case-by-case basis to make a determination as to the impact, if any, on our business, liquidity, results of operations, financial condition or cash flows. Although the outcome of these matters is uncertain, we believe that the ultimate outcome of these claims and proceedings, individually and in the aggregate, will not have a material adverse impact on our business, liquidity, …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Pension and Severance Plans Korean Severance Plan Our subsidiary in Korea maintains an unfunded severance plan that covers certain employees that were employed prior to August 1, 2015. To the extent eligible employees are terminated, our subsidiary in Korea would be required to make lump-sum severance payments on behalf of these eligible employees for service provided prior to August 1, 2015. Factors used to determine severance benefits include employees length of service, seniority and rate of pay. The employees length of service and seniority are fixed as of July 31, 2015. The employees rate of pay is adjusted to the rate of pay at the time of termination. Accrued severance benefits are estimated assuming all eligible employees were to terminate their employment at the balance sheet date. Our contributions to the National Pension Plan of the Republic of Korea are deducted from accrued severance benefit liabilities. On August 1, 2015, our subsidiary in Korea began sponsoring a defined benefit pension plan and a defined contribution plan. Existing employees at that time were given the option of choosing either a defined benefit pension plan or a defined contribution plan for their future benefits and new employees since that date are enrolled in a defined contribution plan. The changes to the balance of our accrued severance plan obligations are as follows: For the Year Ended December 31, 2025 2024 (In thousands) Balance at January 1 $ 43,438 $ 47,906 Provision of severance b …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

Debt Short-term borrowings and long-term debt consist of the following: December 31, 2025 2024 (In thousands) Debt of Amkor Technology, Inc.: Senior notes: 6.625% Senior notes, due September 2027 (1) $ $ 525,000 5.875% Senior notes, due October 2033 (2) 500,000 $ Other: 2025 Revolving Credit Facility, applicable bank rate plus 1.75%, due May 2030 (3) Term A Loans, applicable bank rate plus 1.75%, due May 2030 (4) 500,000 Debt of subsidiaries: Amkor Technology Korea, Inc.: Term loan, fixed rate at 3.95%, due May 2027 (5) Term loan, fixed rate at 2.12%, due December 2028 150,000 200,000 Amkor Technology Japan, Inc.: Short-term term loans, variable rate (6) Term loan, fixed rate at 1.20%, due December 2025 13,868 Term loan, fixed rate at 1.23%, due December 2026 16,719 33,333 Term loan, fixed rate at 1.59%, due December 2027 40,074 59,923 Term loan, fixed rate at 1.80%, due December 2028 67,003 89,059 Term loan, fixed rate at 2.05%, due December 2029 87,295 108,779 Term loan, fixed rate at 2.42%, due December 2030 (7) 95,080 Amkor Assembly & Test (Shanghai) Co., Ltd.: Term loans, SOFR plus 0.75%, due June 2025 35,000 Term loans, SOFR plus 0.75%, due 2025 (4) 55,500 Term loans, SOFR plus 0.95%, due December 2026 (4) 44,000 1,456,171 1,164,462 Less: Unamortized discount and deferred debt costs, net (10,925) (5,002) Less: Short-term borrowings and current portion of long-term debt (162,430) (236,029) Long-term debt $ 1,282,816 $ 923,431 (1) In July 2025, we redeemed $125.0 mill …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Share-Based Compensation Plans For the years ended December 31, 2025, 2024 and 2023, we recognized share-based compensation of $20.1 million, $18.4 million and $8.3 million, respectively, primarily in selling, general and administrative expenses. The amount of compensation expense to be recognized is adjusted for an estimated forfeiture rate which is based on historical data. The corresponding deferred income tax benefits are $2.5 million, $2.4 million and $0.7 million for 2025, 2024 and 2023, respectively. Equity Incentive Plans Second Amended and Restated 2007 Equity Incentive Plan. The Second Amended and Restated 2007 Equity Incentive Plan (as amended, the 2007 Plan) provided for the grant of the following types of incentive awards: (i) stock options; (ii) restricted stock; (iii) restricted stock units; (iv) stock appreciation rights; (v) performance units and performance shares; and (vi) other stock or cash awards. Those eligible for awards included employees, directors and consultants who provide services to Amkor and its subsidiaries. There were originally 17.0 million shares of our common stock reserved for issuance under the 2007 Plan. No awards have been or will be granted under the 2007 Plan after the effective date of the 2021 Plan (as defined below), but all outstanding awards under the 2007 Plan will continue in full force and effect, subject to their original terms. 2021 Equity Incentive Plan. On May 18, 2021, at our 2021 Annual Meeting of Stockholders (the 2021 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value Measurements The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1, defined as quoted market prices in active markets for identical assets or liabilities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, model-based valuation techniques for which all significant assumptions are observable in the market or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3, defined as unobservable inputs that are not corroborated by market data. For our Level 2 short-term investments, we consider factors such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data obtained from quoted market prices and independent pricing vendors to determine the fair value of these assets and liabilities. The fair values of cash, accounts receivable, trade accounts payable, capital expenditures payable and certain other current assets and accrued expenses approximate carrying values because of their short-term nature. The carrying value o …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Income Taxes Geographic sources of income (loss) before taxes are as follows: For the Year Ended December 31, 2025 2024 2023 (In thousands) United States $ 68,993 $ 81,289 $ 94,643 Foreign 375,626 349,727 349,198 Income before taxes $ 444,619 $ 431,016 $ 443,841 The components of the provision (benefit) for income taxes are as follows: For the Year Ended December 31, 2025 2024 2023 (In thousands) Current: Federal $ 27,025 $ 7,898 $ 19,831 State 21 34 7 Foreign 60,470 68,333 48,478 87,516 76,265 68,316 Deferred: Federal (13,209) 153 8,899 State 40 (501) 1 Foreign (5,844) (436) 4,494 (19,013) (784) 13,394 Income tax expense $ 68,503 $ 75,481 $ 81,710 The reconciliation between the U.S. federal statutory income tax rate of 21% and our effective tax rate is as follows: For the Year Ended December 31, 2025 Amount % (In thousands, except percentages) U.S. federal statutory income tax rate $ 93,370 21.0 % State and local income taxes, net of federal effect (1) 56 0.0 Foreign tax effects: Korea Foreign rate differential (7,941) (1.8) Tax credits (1,853) (0.4) Investment tax credits (8,997) (2.0) FX gain/loss 16,004 3.6 Other (4,115) (1.0) Portugal Changes in valuation allowance (9,822) (2.2) Other (318) (0.1) Singapore Foreign rate differential (24,189) (5.4) Qualified domestic minimum top-up tax (QDMTT) 13,200 3.0 Other (2,308) (0.5) Taiwan Tax credits (6,290) (1.4) Other 376 0.1 Vietnam 5,942 1.3 Other foreign jurisdictions 3,954 0.8 Effect of cross-border tax laws U.S. tax on fore …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases The components of lease expense were as follows: For the Year Ended December 31, 2025 2024 2023 (In thousands) Operating lease cost $ 32,002 $ 40,110 $ 70,722 Finance lease cost Amortization of leased assets 36,468 35,290 42,345 Interest on lease liabilities 10,415 9,138 5,521 Total finance lease cost 46,883 44,428 47,866 Short-term lease cost 3,842 4,599 4,788 Variable lease cost 9,649 7,409 6,921 Net lease cost $ 92,376 $ 96,546 $ 130,297 Other information related to leases was as follows: For the Year Ended December 31, 2025 2024 2023 Supplemental Cash Flows Information (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 34,075 $ 39,111 $ 73,774 Operating cash flows for finance leases 10,579 8,736 5,419 Financing cash flows for finance leases 89,942 72,255 66,398 Weighted Average Remaining Lease Term (years) Operating leases 6.5 6.0 6.1 Finance leases 4.3 3.9 3.2 Weighted Average Discount Rate Operating leases 5.3 % 5.8 % 5.2 % Finance leases 6.0 % 6.3 % 5.7 % Maturities of lease liabilities were as follows: December 31, 2025 Operating Leases Finance Leases (In thousands) 2026 $ 26,317 $ 51,826 2027 19,237 37,904 2028 8,685 25,788 2029 6,573 27,923 2030 4,562 16,100 Thereafter 17,565 11,220 Total future minimum lease payments 82,939 170,761 Less: Imputed interest (11,250) (21,680) Total $ 71,689 $ 149,081

LesseeOperatingLeasesTextBlock

Recently Adopted Standards In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 requires disclosure of additional income tax information, primarily related to effective tax rate reconciliation and income taxes paid. In 2025, we adopted ASU 2023-09 using the prospective method. See Note 4 for related disclosures. Recently Issued Standards In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03), which was subsequently amended and clarified. ASU 2024-03 requires disaggregation of key expense categories such as inventory purchases, employee compensation, depreciation and intangible asset amortization in the financial statements. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. Adoption of this ASU should be applied either prospectively after the effective date or retrospectively to any or all periods presented in the financial statements. We are currently evaluating the impact of this new standard on our financial statements, which is expected to result in enhanced disclosures. In September 2025, the FASB issued ASU 2025-0 …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Business Segments, Customer Concentrations and Geographic Information We operate as a single operating segment as managed by our Chief Executive Officer, who is considered our chief operating decision maker (CODM). The CODM bears the ultimate responsibility for, and is actively engaged in, the allocation of resources and the evaluation of our operating and financial results. We have concluded that we have a single operating segment based on the following: We are managed under a functionally-based organizational structure with the head of each function reporting directly to the CODM; Our CODM assesses performance, including resource allocation, trend identification and variance analysis, based on consolidated operating performance and financial results based on net income; Our CODM allocates resources and makes other operating decisions based on specific customer business opportunities; and We have an integrated process for the design, development and manufacturing services we provide to all of our customers. We also have centralized sales and administrative functions. The following table presents revenue, profit or loss and significant segment expenses for our single operating segment: For the Year Ended December 31, 2025 2024 2023 (In thousands) Net sales $ 6,707,981 $ 6,317,692 $ 6,503,065 Less: Materials cost of sales 3,700,307 3,478,752 3,584,090 Labor cost of sales 697,852 628,201 643,993 Depreciation cost of sales 584,638 534,921 576,120 Other cost of sales 786,585 742, …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

DividendsOur Board of Directors has adopted a dividend policy pursuant to which we currently pay a regular quarterly cash dividend on our common stock. In November 2025, our Board of Directors approved a quarterly dividend of $0.08352 per share, a 1% increase from the rate set in November 2024.

StockholdersEquityNoteDisclosureTextBlock

Commitments and Contingencies We generally warrant that our services will be performed in a professional and workmanlike manner and in compliance with our customers specifications. We accrue costs for known warranty issues. Historically, our warranty costs have been immaterial. Legal Proceedings We are involved in claims and legal proceedings and may become involved in other legal matters arising in the ordinary course of our business. We evaluate these claims and legal matters on a case-by-case basis to make a determination as to the impact, if any, on our business, liquidity, results of operations, financial condition or cash flows. Although the outcome of these matters is uncertain, we believe that the ultimate outcome of these claims and proceedings, individually and in the aggregate, will not have a material adverse impact on our business, liquidity, results of operations, financial condition or cash flows. Our evaluation of the potential impact of these claims and legal proceedings could change in the future. In accordance with the accounting guidance for loss contingencies, including legal proceedings, lawsuits, pending claims and other legal matters, we accrue for a loss contingency when we conclude that the likelihood of a loss is probable and the amount of the loss can be reasonably estimated. We adjust our accruals from time to time as we receive additional information, but the loss we incur may be significantly greater than or less than the amount we have accrued. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Pension Plans Foreign Defined Benefit Pension Plans Our subsidiaries in Japan, Korea, Malaysia, the Philippines and Taiwan sponsor defined benefit pension plans. Charges to expense are based upon actuarial analyses. The components of net periodic pension cost for these defined benefit pension plans are as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Service cost $ 2,953 $ 3,428 $ 5,991 $ 6,689 Interest cost 1,537 1,501 3,120 2,935 Expected return on plan assets (1,352) (1,339) (2,743) (2,618) Recognized actuarial gain (220) (119) (442) (238) Net periodic pension cost 2,918 3,471 5,926 6,768 Curtailment gain (434) Total pension expense $ 2,918 $ 3,471 $ 5,926 $ 6,334 The components of net periodic pension cost other than the service cost component are included in other (income) expense, net in our Consolidated Statements of Income. Defined Contribution Pension Plans We sponsor defined contribution pension plans in Korea, Malaysia, Taiwan and the U.S. The following table summarizes our defined contribution expense: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Defined contribution expense $ 7,704 $ 7,322 $ 18,392 $ 16,627 …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

Debt Short-term borrowings and long-term debt consist of the following: June 30, 2026 December 31, 2025 (In thousands) Debt of Amkor Technology, Inc.: Senior notes: 5.875% Senior notes, due October 2033 $ 500,000 $ 500,000 0.00% Convertible senior notes, due July 2031 (1) 1,150,000 Other: 2025 Revolving Credit Facility, applicable bank rate plus 1.75%, due May 2030 (2) Term A Loans, applicable bank rate plus 1.75%, 5.48% as of June 30, 2026, due May 2030 493,750 500,000 Debt of subsidiaries: Amkor Technology Korea, Inc.: Term loan, fixed rate at 3.95%, due May 2027 (3) Term loan, fixed rate at 2.12%, due December 2028 125,000 150,000 Amkor Technology Japan, Inc.: Short-term term loans, variable rate (4) Term loan, fixed rate at 1.23%, due December 2026 8,059 16,719 Term loan, fixed rate at 1.59%, due December 2027 28,976 40,074 Term loan, fixed rate at 1.80%, due December 2028 53,830 67,003 Term loan, fixed rate at 2.05%, due December 2029 73,639 87,295 Term loan, fixed rate at 2.42%, due December 2030 82,497 95,080 2,515,751 1,456,171 Less: Unamortized discount and deferred debt costs, net (30,020) (10,925) Less: Short-term borrowings and current portion of long-term debt (150,781) (162,430) Long-term debt $ 2,334,950 $ 1,282,816 (1) In May 2026, we issued the 2031 Notes, which included the exercise in full of the option granted to the initial purchasers to purchase up to an additional $150 million aggregate principal amount of the 2031 Notes. The 2031 Notes are senior, unse …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Fair Value Measurements The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1, defined as quoted market prices in active markets for identical assets or liabilities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, model-based valuation techniques for which all significant assumptions are observable in the market or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3, defined as unobservable inputs that are not corroborated by market data. For our Level 2 short-term investments, we consider factors such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data obtained from quoted market prices and independent pricing vendors to determine the fair value of these assets and liabilities. The fair values of cash, accounts receivable, trade accounts payable, capital expenditures payable and certain other current assets and accrued expenses approximate carrying values because of their short-term nature. The carrying value o …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Income Taxes Income tax expense of $40.6 million for the six months ended June 30, 2026 reflects income taxes, foreign withholding taxes, minimum taxes and certain tax credits. We monitor on an ongoing basis our ability to utilize our deferred tax assets and whether there is a need for a related valuation allowance. In evaluating our ability to recover our deferred tax assets in the jurisdictions from which they arise, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies and recent results of operations. We maintain a valuation allowance on certain U.S. and foreign deferred tax assets. Such valuation allowances are released as the related tax benefits are realized or when sufficient evidence exists to conclude that it is more likely than not that the deferred tax assets will be realized. Unrecognized tax benefits represent reserves for potential tax deficiencies or reductions in tax benefits that could result from federal, state or foreign tax audits. Gross unrecognized tax benefits were $30.1 million and $36.1 million as of June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026, $27.7 million of our unrecognized tax benefits would reduce our effective tax rate if recognized. Our unrecognized tax benefits are subject to change for effective settlement of examinations, changes in the recognition threshold of tax positions, the expiration of s …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recently Issued Standards. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03), which was subsequently amended and clarified. ASU 2024-03 requires disaggregation of key expense categories such as inventory purchases, employee compensation, depreciation and intangible asset amortization in the financial statements. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. Adoption of this ASU should be applied either prospectively after the effective date or retrospectively to any or all periods presented in the financial statements. We are currently evaluating the impact of this new standard on our financial statements, which is expected to result in enhanced disclosures. In September 2025, the FASB issued ASU 2025-06, IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40) (ASU 2025-06). ASU 2025-06 removes all references to project stages throughout ASC 350-40 and clarifies the applicable threshold to begin capitalizing costs. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. Adoption of …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Business Segments, Product Groups and End Markets The following table presents revenue, profit or loss and significant segment expenses for our single operating segment: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Net sales $ 1,897,965 $ 1,511,392 $ 3,582,666 $ 2,832,967 Less: Materials cost of sales 997,510 799,020 1,899,283 1,491,768 Labor cost of sales 189,131 176,886 369,680 336,050 Depreciation cost of sales 163,693 144,434 319,825 284,303 Other cost of sales 229,041 209,155 436,256 381,366 Selling, general and administrative 78,904 47,922 175,891 128,330 Research and development 39,832 42,008 81,590 87,660 Interest expense 16,971 16,810 34,681 33,619 Income tax expense 28,306 28,162 40,648 32,098 Other segment items (1) (20,292) (8,057) (34,023) (19,132) Segment net income $ 174,869 $ 55,052 $ 258,835 $ 76,905 (1) Other segment items include interest income, foreign currency (gain) loss, net and other (income) expense. The following tables represent other balances included in net income or that are regularly provided to the Chief Operating Decision Maker (CODM): For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) (In thousands) Interest income $ 20,172 $ 14,992 $ 36,392 $ 29,445 Depreciation and amortization expense 179,650 158,842 350,553 312,663 Capital expenditures 463,820 146,189 688,425 226,086 June 30, 2026 December 31, 2025 (In thousands) Total assets …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss), net of tax, consist of the following: Unrealized Gains (Losses) on Available-for-Sale Debt Investments (1) Defined Benefit Pension (2) Foreign Currency Translation (3) Total (In thousands) Accumulated other comprehensive income (loss) at December 31, 2025 $ 662 $ 20,330 $ (4,159) $ 16,833 Other comprehensive income (loss) before reclassifications (2,941) 74 1,484 (1,383) Amounts reclassified from accumulated other comprehensive income (loss) (23) (320) (343) Other comprehensive income (loss) (2,964) (246) 1,484 (1,726) Accumulated other comprehensive income (loss) at June 30, 2026 $ (2,302) $ 20,084 $ (2,675) $ 15,107 Unrealized Gains (Losses) on Available-for-Sale Debt Investments (1) Defined Benefit Pension (2) Foreign Currency Translation (3) Total (In thousands) Accumulated other comprehensive income (loss) at December 31, 2024 $ (510) $ 16,570 $ (8,550) $ 7,510 Other comprehensive income (loss) before reclassifications 1,305 (2,386) 6,230 5,149 Amounts reclassified from accumulated other comprehensive income (loss) (171) (189) (360) Other comprehensive income (loss) 1,134 (2,575) 6,230 4,789 Accumulated other comprehensive income (loss) at June 30, 2025 $ 624 $ 13,995 $ (2,320) $ 12,299 (1) Amounts reclassified out of accumulated other comprehensive income (loss) are included as other (income) expense, net (Note 3). (2) Amounts reclassified out of accumulated other com …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing