technicolor - 2018 Registration document

6 FINANCIAL STATEMENTS NOTE 7 EQUITY & EARNINGS PER SHARE

Other elements of equity

7.2

TREASURY SHARES 7.2.1 Treasury shares are recorded at purchase cost and deducted from shareholders’ equity. The gain or loss on disposal or cancellation of these shares is recorded directly in equity. Global amount of Treasury shares includes treasury shares purchased in was submitted for approval at the combined shareholder’s meeting the frame of the Share Management Agreement authorized by the convened on April 26, 2018, Share Management Agreement was Combined Shareholder’s Meeting on May 23, 2013, and confirmed by suspended during the year. the annual shareholders general meeting. As no share purchase program 2018 2017 Number of Treasury shares at opening 978,051 752,768 Variation related to the Share Management Agreement 96,943 225.283 Other variations - - Number of Treasury shares at closing 1,074,994 978,051

DIVIDENDS AND DISTRIBUTION 7.2.3 In 2018, the Shareholders’ Meeting held on April 26, 2018 did not vote any payment of dividend. The Shareholders’ Meeting held on May 24, 2017 voted the payment of a dividend of €0.06 per share for the fiscal year 2016. The amount of €25 million was paid to the shareholders on June 2017. 7.2.4 In 2018, the main changes in non-controlling interests result from: Liquidation Thomson Investment India for €(2) million; • Acquisition of 49% of Technicolor Pioneer Japan shares €(1) million. • In 2017, there is no significant change in non-controlling interests. NON-CONTROLLING INTERESTS

Under the Share Management Agreement, 1,114,523 shares have been repurchased and 1,017,580 shares have been sold for a net cash outflow of €58,189 in 2018. 7.2.2 On September 26, 2005, Technicolor issued deeply subordinated perpetual notes (TSS) in a nominal amount of €500 million. No derivative was identified because the provisions of the notes fall outside the scope of the definition of a derivative under IAS 39. Because of their perpetual and subordinated nature and the optional nature of the coupon, the notes were recorded under IFRS in shareholder’s equity for the net value received of €492 million (issue price less offering discount and fees). Further to the restructuring of the Group’s debt in 2010, the characteristics of the notes are now as follows: they are not repayable other than (i) at Technicolor’s sole option in • specific contractually defined events or (ii) in case of liquidation of the Company; they no longer bear interest, since an amount of €25 million was paid • to TSS holders as final payment of all interest claims in 2010. SUBORDINATED PERPETUAL NOTES

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TECHNICOLOR REGISTRATION DOCUMENT 2018