Universal Registration Document 2021

PRESENTATION OF THE GROUP ORGANIZATION AND BUSINESS OVERVIEW

in January 2022, Technicolor Creative Studios announced further • steps in its transformation with: the integration of its Film & Episodic VFX brands MPC Film, • MPC Episodic and Mr. X under the consolidated MPC brand, forming the largest suite of VFX studios serving the feature film and episodic market globally, with Tom Williams appointed President of MPC, and; the incorporation of award-winning VFX studio MPC Advertising • into sister brand The Mill, to create one global Advertising studio network, under The Mill brand, with Josh Mandel appointed as President of The Mill. with respect to talent recruitment and development, Technicolor • Creative Studios has repositioned and rebranded The Focus as TCS Talent, a career hub under a combined talent management and lifelong learning model, utilizing real-time data to effectively and efficiently support growth in the division. TCS Academies in turn will be running on an “always on” model in 2022, with continuing initiatives to expand accessibility via the cloud; Technicolor Creative Studios’ R&D priorities are focused on • producing and delivering quality content at scale. This includes initiatives like facilitating the low friction transfer of talent and technology across service lines and geographies to optimize utilization, and the development & implementation of a unified pipeline toolset to be able to offer clients the ability to seamlessly service their franchise IP across all media and entertainment. Another key R&D initiative centers on real-time production tools and workflows – not only about interactivity, but the attraction of providing Directors and other content creators greater freedoms during production. Approximately 10,540 people (including approximately 8,300 digital artists) worked for the Technicolor Creative Studios Division at the end of December 2021 in India (55%), USA (8%), Canada (16%), UK (12%), and France and Other (9%). In the first half of 2021, the Media & Entertainment industry continued to experience significant pandemic-related headwinds, particularly with sustained closures or capacity restrictions in the theatrical exhibition market. This led the major studios to continue to delay major theatrical tentpole releases or re-direct films to their streaming platforms. The theatrical market began to recover in the second half, only to run into speed bumps because of the Omicron variant. The state of the exhibition market and increasing investment in streaming platforms is INDUSTRY TRENDS AND MARKET POSITION

driving many studios to shrink their theatrical release slates over the coming years, albeit with a likely higher concentration of tentpole budget films – ultimately leading to a slower growth, more mature market for theatrical projects. Conversely, the streaming and episodic market continues to drive significant growth in demand for original content, providing strong tailwinds for MPC and Mikros Animation. And with increasing competition among the major streaming platforms owned by Amazon, Apple, Disney, Netflix and others, there is also a growing number of high-profile projects with budgets that rival those of the major studio tentpole films. As global digital advertising spend continues to grow faster than traditional television advertising spend, and as rapidly evolving consumer technology choices drive new advertising content and formats. The Mill is well-positioned to address this market evolution and utilize emerging technologies to create the high-end imagery required by advertisers and marketers across all screens and experiences, strengthening its leadership in high-end branded content creation and immersive experiences. For Video Games, market trends continue to support the external game development market. AAA games clients are increasingly looking to outsource in order to meet deadlines while games become more and more complex. Live operations, where games are periodically refreshed without needing to publish a new game ( e.g. , the different seasons in a same game), are becoming more and more prevalent. This development is ripe to be outsourced to external game developers so that clients can focus on new games. On top of PC and console games, mobile games have become a more relevant market. Mobile game art quality increases alongside each successive generation of smartphones. Technicolor Games, now with its own dedicated management and resources, will become a key contributor to Technicolor Creative Studios’ growth strategy. KEY CUSTOMERS AND MAIN COMPETITORS Technicolor Creative Studios’ customer base includes major and independent film studios, and non-studio customers such as TV broadcasters, independent content producers, game developers/ publishers and streaming service providers producing their own original content. In Advertising, clients range primarily from boutique to major advertising agencies to production companies to brands and advertisers. In the past few years, the Group has been strategically strengthening its market position with leading studios and advertising agencies/production companies while also increasing its collaborations with non-studio customers and directly with brands and advertisers.

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2021