Universal Registration Document 2021

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

Net financial expense 2.2.4 The Group’s net financial result from continuing operations was a loss of €(127) million in 2021 compared to an income of €77 million in 2020. NET INTEREST EXPENSE Net interest expense amounted to €126 million in 2021 compared to €78 million in 2020, reflecting the full year impact of the debt restructuring plan completed mid 2020. For further information, please refer to note 3.4 to the Group’s consolidated financial statements. OTHER FINANCIAL INCOME (EXPENSE) Other financial income amounted to €0 million in 2021 compared to €155 million in 2020 mostly explained by a non-cash gain in 2020 on the equity and debt initial valuations, in application of IFRS Standards, following the financial restructuring process. For further information, please refer to note 3.4 to the Group’s consolidated financial statements. Income tax 2.2.5 The Group total income tax expense from continuing operations, including both current and deferred taxes, amounted to a loss of €24 million compared to a loss of €5 million in 2020. The current income tax charge in 2021 was mainly attributable to current tax due in Canada, India, and Mexico. Net deferred tax was a charge of €(2) million in 2021 compared to an income of €10 million in 2020. Profit (loss) from continuing 2.2.6 operations Loss from continuing operations amounted to a loss of €121 million in 2021 compared to a loss of €196 million in 2020. Profit (loss) from 2.2.7 discontinued operations The result from discontinued operations amounted to a loss of €19 million in 2021 compared to a loss of €15 million in 2020.

Net income (loss) 2.2.8 of the Group

Net loss totalled €140 million in 2021 compared to a loss of €211 million in 2020. There was no net income attributable to non-controlling interests in 2021 as in 2020. Accordingly, the net loss attributable to the shareholders of Technicolor SA amounted to €140 million in 2021 compared to €211 million in 2020. Net losses per share, basic and diluted, were €0.51 in 2021 compared to €2.66 in 2020, taking retrospectively into account the consolidation of shares. Adjusted indicators 2.2.9 In addition to its published results presented in accordance with IFRS and with the aim of providing a more comparable view of the changes in its operating performance, the Group presents a set of adjusted indicators, which excludes impairment charges, restructuring charges and other income and expenses with respect to Adjusted EBIT, cloud rendering expenses and amortization charges as well as the impact of provisions for risks, warranties and litigation with respect to Adjusted EBITDA (in addition to adjustments included in Adjusted EBIT). Technicolor considers that this information may help investors in their analysis of the Group’s performance by excluding factors it considers to be non-representative of Technicolor’s normal operating performance. Technicolor uses Adjusted EBIT and Adjusted EBITDA to evaluate the results of its strategic efforts. This definition of Adjusted EBITDA is comparable to the definition as per Technicolor’s Credit Agreements and is used in calculating applicable financial covenants. These adjustments for 2021 and 2020 are directly identifiable in the Group’s consolidated financial statements, except for the heading “depreciation and amortization.” The additional indicators have inherent limitations as performance indicators. Adjusted profit from continuing operations before tax, finance costs, plus depreciation and amortization (Adjusted EBITDA) and adjusted profit from continuing operations before tax and net finance costs (Adjusted EBIT) are not indicators recognized by IFRS and are not representative of the cash generated by these activities for the periods indicated. In particular, Adjusted EBITDA does not reflect the Group’s working capital needs for its operations, interest charges incurred, payment of taxes, or capital expenditures necessary to replace depreciated assets. Adjusted EBITDA and Adjusted EBIT indicators do not have standard definitions and, as a result, Technicolor’s definition of Adjusted EBITDA and Adjusted EBIT may not correspond to the definitions given to these terms by other companies. In evaluating these indicators, please note that Technicolor may incur similar charges in future periods. The presentation of these indicators does not mean that Technicolor considers its future results will not be affected by exceptional or non-recurring events. Due to these limitations, these indicators should not be used exclusively or as a substitute for IFRS measures.

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2021