MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED OPERATING INCOME (LOSS)

(In thousands of U.S. dollars)

(Unaudited)

Three Months Ended

Six Months Ended

June 30,
2023

March 31,
2023

June 30,
2022

June 30,
2023

June 30,
2022

Operating income (loss)

$

(10,656)

$

(21,818)

$

2,002

$

(32,474)

$

14,881

Adjustments:

Equity-based compensation expense

2,092

1,120

1,988

3,212

3,626

Early termination and other charges

802

8,449

797

9,251

797

Adjusted Operating Income (Loss)

$

(7,762)

$

(12,249)

$

4,787

$

(20,011)

$

19,304