technicolor - 2019 Universal registration document

FINANCIAL STATEMENTS STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019

OUR RESPONSE We familiarized ourselves with the information systems and processes used by Technicolor Management to estimate the Group's cash flow forecasts: We assessed the controls set up to prepare these cash forecasts and in particular: based on our knowledge of the Group, assessed the design of the procedures and controls set up to prepare short and medium-term cash forecasts; • tested the automated controls in the financial information systems used daily to monitor cash positions to improve the reliability of the closing date • cash position; assessed the consistency of the assumptions used to prepare cash forecasts with the budget prepared by Management and approved by the Board • of Directors on February 18, 2020 and with regard to our knowledge of the acquired activity as part of our engagement, particularly business operating assumptions, debt repayment schedules, the roll-out of current refinancing plans and various available credit lines; inquired whether Management had knowledge of events or circumstances which have occurred or may occur subsequent to December 31, 2019 • that would be likely to compromise the Group's liquidity; validated the accounting treatment of the factoring programs in order to corroborate the deconsolidating nature of these programs; • finally, compared 2019 actual performance with the budget to understand any differences and their possible impact on our assessment of the • forecast preparation process. We also verified the appropriateness of the liquidity risk information disclosed in Notes 8.2.3 “Liquidity risk and management of financing and capital structure” and 8.3 “Borrowings” to the consolidated financial statements. Specific verifications We have also performed, in accordance with professional standards applicable in France, the specific verifications required by laws and regulations of the Group’s information given in the management report of the Board of Directors. We have no matters to report as to their fair presentation and their consistency with the consolidated financial statements. We attest that the consolidated non-financial statement required by Article L. 225-102-1 of the French Commercial Code ( Code de commerce ) is included in the Group’s information given in the management report, it being specified that, in accordance with article L. 823-10 of this Code, we have verified neither the fair presentation nor the consistency with the consolidated financial statements of the information contained therein which should be reported on by an independent third party. Report on other legal and regulatory requirements APPOINTMENT OF THE STATUTORY AUDITORS We were appointed as statutory auditors of Technicolor by the Shareholders’ Meeting held on June 20, 2012 for Deloitte & Associés and on May 29, 1985 for Mazars. As at December 31, 2019, Deloitte & Associés were in the 8 th year of total uninterrupted engagement and Mazars were in the 35 th year of total uninterrupted engagement, including 21 years since the securities were admitted to a regulated market. Responsibilities of management and those charged with governance for the consolidated financial statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the European Union and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless it is expected to liquidate the Company or to cease operations. The Audit Committee is responsible for monitoring the financial reporting process and the effectiveness of internal control and risks management systems and where applicable, its internal audit, regarding the accounting and financial reporting procedures. The consolidated financial statements were approved by the Board of Directors.

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