technicolor - 2019 Universal registration document

4 CORPORATE GOVERNANCE AND COMPENSATION CORPORATE GOVERNANCE

Independence of Directors The independence of the Board of Directors, in the absence of any controlling shareholder, is of great importance for the Company in order to ensure that the Board of Directors, as a body, represents not only the whole community of shareholders, but also the interests of the Company and of other stakeholders, employees and partners. At their meetings of February 2020, the Nominations & Governance Committee and the Board of Directors reviewed the independence of its members according to the definition and criteria set forth in the Corporate Governance Code of Listed Companies published by the Association française des entreprises privées (AFEP) and the Mouvement des entreprises de France (MEDEF) (the “AFEP-MEDEF Corporate Governance Code”), to which the Company adheres to (see paragraph 4.1.2.1 below). According to this Code, “a Director is independent when he or she has no relationship of any kind whatsoever with the corporation, its group or its management that may interfere with his or her freedom of judgment”.

Should a “business relationship” exist between the Company and the Group in which the Director is an employee or an executive, the Board of Directors shall conduct, where appropriate, a quantitative and qualitative review of such relationship to determine whether, from the perspective of the two parties, they are significant enough to be an obstacle to the Director’s independence. The specific criteria taken into consideration by the Board are: the percentage of each party’s total revenue accounted for by the 1. flow of business in question; whether or not this is a strategic relationship for the Company; 2. the financial terms of the business relationship; 3. any calls for tender; 4. the length of the relationship; 5. the organization of the business relationship (decision-making 6. powers of the Director with regard to the contract, whether the Director receives compensation, etc .).

As of the date of publication of this Universal Registration Document, 9 of the 12 Directors were deemed to be independent. See below the summary of the assessment made at the Board of Directors meeting of March 9, 2020. Name Discussion Independent Anne Bouverot Ms. Bouverot meets all requisite criteria to be considered as independent Director. Yes

Not an employee/ Executive Officer over the last five years

No cross- directorships

No significant business relations

Family ties Statutory Auditor

Term of office of less than 12 years

Shareholding below 10% of Technicolor share capital

P

P

P

P

P

P

P

Melinda J. Mount

Ms. Mount meets all requisite criteria to be considered as independent Director.

Yes

Not an employee/ Executive Officer over the last five years

No cross- directorships

No significant business relations

Family ties Statutory Auditor

Term of office of less than 12 years

Shareholding below 10% of Technicolor share capital

P

P

P

P

P

P

P

Richard Moat

Mr. Moat is Chief Executive Officer of the Company.

No

Not an employee/ Executive Officer over the last five years

No cross- directorships

No significant business relations

Family ties Statutory Auditor

Term of office of less than 12 years

Shareholding below 10% of Technicolor share capital

O

P

P

P

P

P

P

Bpifrance Participations, represented by Thierry Sommelet

Bpifrance Participations holds less than 10% of the share capital.

Yes

Not an employee/ Executive Officer over the last five years

No cross- directorships

No significant business relations

Family ties Statutory Auditor

Term of office of less than 12 years

Shareholding below 10% of Technicolor share capital

P

P

P

P

P

P

P

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2019