Universal Registration Document 2021

OPERATING AND FINANCIAL REVIEW AND PROSPECTS RESULTS OF OPERATIONS FOR 2020 AND 2021

Analysis of revenues from continuing operations 2.2.1

FY 2021

FY 2020

Change (1)

(in million euros)

Total revenues from continuing operations

2,898

3,006

(1.7)% 22.5% (10.0)%

Technicolor Creative Studios

629

513

Connected Home

1,544

1,764

DVD Services

701

706

1.6% 0.5%

Corporate & Other

23

23

2

Change at constant currency. (1)

TECHNICOLOR CREATIVE STUDIOS Technicolor Creative Studios revenues amounted to €629 million in the full year 2021, up 22.5% at constant rate year-on-year. Excluding the Post-production business divested in April 2021, year-on-year revenue growth at constant rate would have been 37.2%. This improvement, notably in the second half, resulted from a massive demand for original content for all business lines compared with a year 2020 which suffered from pandemic-related impacts on production in Hollywood and around the world. More precisely in 2021: at MPC, revenues grew significantly thanks to the continued ramp-up • in productions of major theatrical projects as well as increasing contributions from all the major streaming platform; at The Mill, advertising revenues grew across all key markets • year-on-year, driven by a faster recovery in advertising spend from Covid-19 than anticipated; at both Mikros Animation and Technicolor Games, revenues grew • significantly, driven by higher volumes across all segments. The shortage of talent which impacted the entire industry was partly mitigated by significant retention and hiring action plans implemented during the year, with intense activity in the fourth quarter. During the year, TCS staff increased from approximately 7,700 at the end of December 2020 to approximately 10,540 at the end of December 2021.

2021 Revenues stood at €2,898 million, representing a 1.7% decrease at constant exchange rate. Technicolor Creative Studios recorded a strong improvement in revenue while Connected Home was impacted by key component shortages and supply chain disruption which prevented the business from meeting strong customer demand in full.

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2021

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