technicolor - 2019 Universal registration document

FINANCIAL STATEMENTS SUBSEQUENT EVENTS

Assets & liabilities held for sale 12.2 A non-current asset (or disposal group) is classified as held for sale held for sale is measured at the lower of its fair value less costs to sell when its carrying amount will be recovered principally through a sale and its carrying amount. Any impairment loss for write-down of the transaction rather than through continuing use. This means the asset asset (or disposal group) to fair value (less costs to sell) is recognized (or disposal group) is available for immediate sale and its sale is in the statement of operations. highly probable. A non-current asset (or disposal group) classified as

December 31, 2019 December 31, 2018

(in million euros)

Assets classified as held for sale

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LIABILITIES CLASSIFIED AS HELD FOR SALE

As of December 31,2019, no assets and liabilities were held for sale. As of December 31, 2018, assets and liabilities held for sale include: the assets and liabilities resulting from the cooperation agreement with InterDigital, i.e. the deferred income corresponding to the services to be • rendered by the research cooperation (€42 million); the assets and liabilities of Research & Innovation activity. •

Subsequent events

NOTE 13

GRI [102-10] [102-15] [103-1 Economic performance] [103-2 Economic performance]

On Febuary 13, 2020, the Group announced its 2020-2022 strategic plan, focused on a more disciplined approach to business selection whilst continuing to provide market leading products and services. Concurrently the Group announced three transactions aimed at strengthening its capital structure and restoring its strategic flexibility: a Capital increase with preferential subscription rights for shareholders • for a total gross amount of circa €300 million. An Extraordinary General Meeting of Shareholders will be held on March 23, 2020 which will vote on resolutions related to the Rights Issue. It is anticipated that the equity issuance will be launched in the second quarter of 2020, subject to approval from Technicolor’s shareholders, regulatory authorities, and market conditions;

an 18-month extension of its existing RCF from December 2021 to • June 2023, conditional on the successful execution of the Rights Issue. Similarly, the Wells Fargo facility will be extended by 18 months from September 2021 to March 2023; an additional U.S.$110 million short-term facility which has been • arranged by J.P. Morgan. The facility will provide additional liquidity headroom and will be repayable following the receipt of proceeds of the Rights Issue.

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