technicolor - 2019 Universal registration document

MESSAGE TO SHAREHOLDERS

MESSAGE T O S H A R E H O L D E R S GRI  [102-14]

Dear Shareholders,

2019 was a year of transition affected by numerous headwinds. Technicolor nevertheless achieved revenues of €3.8 billion, adjusted EBITDA of €324 million and adjusted EBITA of €42 million. Following an in-depth review of the business, we have recently announced a new 2020-2022 strategic plan supported by a comprehensive strengthening of the capital structure. We have identified several initiatives to drive the financial and operational transformation of the Company, including maximisation of revenue growth and cost savings of c. €150 million on a run-rate basis by 2022. These initiatives will be implemented under the supervision of Richard Moat, who brings to the Company his long experience in turning around companies. He has the full support of a Board of Directors which has been extensively renewed in 2019, with Anne Bouverot as its new Chairperson. Technicolor has solid business foundations and has significant capabilities in terms of people and assets. Our Company plays a vital role in its markets and provides truly differentiated products and services to our clients. • in Production Services, Technicolor has worldwide leadership in VFX for films, and in 2019 contributed to 70%of top box office films. Winning this year’s Academy Award for visual effects for 1917 is a tribute to the quality of our offering; • in Connected Home, the Company is a global leader in Broadband and AndroidTV and a trusted partner to the leaders of the industry, such as Comcast and Charter; • in DVD Services, Technicolor is by far the largest player worldwide with around 70%market share and 90% in the U.S. Technicolor has leadership positions in its 3 business units:

Our goal is to bring both stability and growth to Technicolor and to unlock its full potential. We have the opportunity to take advantage of the strong increase in digital media consumption, the significant growth in residential broadband access and increased demand for original content. We aim to ensure that Technicolor is fully equipped to remain an unrivalled leader in the segments in which it operates and creates long-term value for customers, employees and shareholders. We also intend to strengthen financial transparency by regularly communicating our performance and providing tangible financial targets for the medium term. Overall, we firmly believe that with the right business focus, operational design and capital structure, Technicolor can return to delivering profitable growth, cash generation and value creation for shareholders.

Anne Bouverot Chairperson of Technicolor’s Board of Directors

Richard Moat CEO

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2019