Magnachip and Peregrine Announce Volume Ramp of STeP5 UltraCMOS™ RF Switch Products

SAN DIEGO, California and SEOUL, South Korea, August 15, 2011 — MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, and Peregrine Semiconductor Corporation, a fabless provider of high-performance radio-frequency (RF) integrated circuits (ICs), today announced that MagnaChip has ramped to mass production of Peregrine’s RF switch products utilizing the latest generation “STeP5” UltraCMOS™ SOS (Silicon-On-Sapphire) technology.

UltraCMOS™ technology utilizes a sapphire substrate, enabling high levels of monolithic integration
which results in smaller die, higher yields and fewer external components when compared to
compound semiconductor processes such as GaAS.

Peregrine and MagnaChip have been engaged in the transfer of the patented UltraCMOS™ technology since mid-2007 and have implemented Peregrine’s STeP3 and STeP4 process generations at MagnaChip’s 0.35;m manufacturing facility located in Cheongju, South Korea. MagnaChip has now successfully completed the final qualification phase in the transfer of STeP5 process generation and has ramped to high-volume production.

TJ Lee, senior vice president and general manager of MagnaChip’s corporate and SMS engineering
commented, “We are very pleased to announce MagnaChip’s production ramp of Peregrine’s latest
STeP5 UltraCMOS RF switch products. The continued introduction of these robust and unique RFIC
solutions are a direct result of the combined expertise – MagnaChip’s manufacturing services and
Peregrine’s technology and design engineering — and of the long-term strategic roadmap we have

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and
manufacturer of analog and mixed-signal semiconductor products for high volume consumer
applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of
analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating
history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise.

About Peregrine Semiconductor
Peregrine Semiconductor is a fabless provider of high performance radio frequency integrated circuits, or RFICs. Our solutions leverage our proprietary UltraCMOS™ technology, which enables the design, manufacture, and integration of multiple RF, mixed-signal, and digital functions on a single chip. Our products deliver what we believe is an industry leading combination of performance and monolithic integration, and target a broad range of applications in the aerospace and defense, broadband, industrial,mobile wireless device, test and measurement equipment, and wireless infrastructure markets. UltraCMOS technology combines the ability to achieve the high levels of performance of traditional specialty processes,with the fundamental benefits of standard CMOS, the most widely used semiconductor process technology.UltraCMOS technology utilizes a synthetic sapphire substrate, a near-perfect electrical insulator, providing low parasitic capacitance and enabling high signal isolation and excellent broadband linearity. These attributes result in RF devices with excellent high-frequency performance and power handling performance,reduced crosstalk between frequencies, and enhanced network efficiency. We have engineered design advancements, including our patented HaRP™ technology which significantly improves harmonic and linearity performance, and our patent-pending DuNE™ technology, a circuit design technique that we have used to develop our advanced digitally tunable capacitor (DTC) products. We offer a broad portfolio of high performance RFICs including switches, digital attenuators, frequency synthesizers, mixers and prescalers, and are developing power amplifiers (PAs), DTCs, and DC-DC converters. Our products are sold worldwide through our direct sales and field applications engineering staff and our network of independent sales representatives and distribution partners. Additional information is available on the Company website at

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Peregrine Semiconductor Corporation

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Cindy Trotto
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