Universal Registration Document 2021

6 FINANCIAL STATEMENTS STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021

Justification of Assessments – Key Audit Matters Due to the global crisis related to the Covid-19 pandemic, the financial statements of this period have been prepared and audited under specific conditions. Indeed, this crisis and the exceptional measures taken in the context of the state of sanitary emergency have had numerous consequences for companies, particularly on their operations and their financing, and have led to greater uncertainties on their future prospects. Those measures, such as travel restrictions and remote working, have also had an impact on the companies’ internal organization and the performance of the audits. It is in this complex and evolving context that, in accordance with the requirements of Articles L. 823-9 and R. 823-7 of the French Commercial Code (code de commerce) relating to the justification of our assessments, we inform you of the key audit matters relating to risks of material misstatement that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period, as well as how we addressed those risks. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, approved in the conditions mentioned above, and in forming our opinion thereon, and we do not provide a separate opinion on specific items of the consolidated financial statements. RISK IDENTIFIED As of December 31, 2021, the available cash and cash equivalents of Technicolor Group amounts to €196 million. As of December 31, 2021, the indebtedness of Technicolor Group is of €1,235 million at year-end, observing an increase of €93 million when compared to 2020. The Group’s committed credit lines consist of a receivable backed committed credit facility in an amount of $125 million (€110 million at the December 31, 2021 exchange rate) which matures in 2023. The availability of this credit line varies depending on the amount of receivables and on December 31, 2021, only €97 million was available. This facility was undrawn on December 31, 2021. To continuously monitor the liquidity risk to which the Group is exposed, management assesses the cash forecasts based mainly on the expected consolidated cashflows, including operational flows and the repayment deadlines of the financial debt. On the basis of these forecasts and at each half-year close, the board assesses whether or not the liquidity levels and cash flows are sufficient for financing the current activities and the working capital needs of the group for at least the twelve months following this closing, taking into consideration the available credit lines. As described in the note 8.2.1.2 “Key terms of credit agreements” of the consolidated financial statements, Technicolor performed in 2020 its financial restructuring. As of December 2021, the debt instruments of the Group contain various financial covenants, including a minimum liquidity covenant. The occurrence of a covenant break would make this financial debt due immediately and represents a realization case for the loss of control exercised by the group over its subsidiaries. In this context and considering that the management’s assumptions are essential for the cash forecasts, we have considered the liquidity risk as a key audit matter OUR RESPONSE We have reviewed the process and IT environment enabling Technicolor’s management to establish the cash forecasts. We have evaluated the controls implemented in order to establish these cash forecasts, and have: reviewed the controls implemented in order to build the twelve months cash forecast; • assessed procedures implemented to ensure the compliance with the specific requirements of the restructured debt covenants, in particular those • relating to a required level of cash within the fiducies; assessed the information communicated by the group in the consolidated financial statements regarding the compliance with these requirements as • of December 31, 2021; assessed the consistency of operational activity assumptions adopted by the group, both in modified Covid crisis context and given the global • component crisis which impacted the performance of the group, for the establishment of cash forecasts related to the business plan prepared by the management and approved by the board meeting of February 24, 2022. We have notably assessed these forecasts based on our knowledge of the business, the operational assumptions and repayment deadlines of the restructured debt, as well as the available liquidity of the credit lines; we regularly compared the actual cash levels with the forecasts during 2021, and analyzed the cash level observed, in order to assess the quality of • the forecasts built; Assessment of liquidity risk Notes 8.2.1 and 8.5.5 to the consolidated financial statements

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