technicolor - 2020 Universal Registration Document

MESSAGE TO THE SHAREHOLDERS

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

Dear Shareholders,

In 2020 Technicolor had to face the challenges of an extraordinary year. Our teams worked hard to address the impact of the Covid-19 pandemic, and to adapt quickly to ensure the continuity of our operations and the ongoing delivery of our high value-added services to our customers. The rapid and efficient implementation of remote working, especially in Production Services, was key to achieving this result. We simultaneously delivered a major transformation programme, which significantly reduced operating expenses and preserved cashflow. In addition, we successfully executed a comprehensive financial restructuring plan, providing a much stronger platform for the long-term sustainability of theGroup. Technicolor exceeded its 2020 guidance for all three main financial indicators - EBITDA, EBITA and Free Cash Flow - underpinned by a significant reduction of our cost base. This was achieved against the difficult background of the Covid-19 crisis. Connected Home beat the targets originally set before the crisis began, but Production Services and DVD Services were hit by the cessation of activity in the film industry, and associated cinema closures. Despite persistent uncertainty relating to the pandemic, we are looking forward with confidence to continue to carry out our transformation program in order to deliver improved results. Technicolor is redefining its content experience with leadership positions in its 3 business units: • in Production Services, Technicolor has worldwide leadership in visual effects for films and episodic work, and is the n°1 provider to Hollywood studios and streamers; • in Connected Home, Technicolor 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, with around 70% market share worldwide and 90% in North America.

The Group now has an appropriate capital structure adapted to the needs of our business, and is entering a new era in its history. TheGroup has re-engineered its operations to be more scalable, focused, innovative, faster to market and artistically cutting-edge. Technicolor has solid business foundations and strong capabilities, especially in terms of highly skilled people and assets, and our secret weapon is the combination of artistry and technology. Our Company plays a vital role in the markets in which we operate, and provides truly differentiated products and services to our clients. The strategic sale of Technicolor Post is part of our long- term vision for Production Services to focus on VFX and animation for the entertainment industry, and creative services and technologies for the advertising industry, which provide maximum value to our clients. We will continue to deliver on these core areas through our award-winning creative studios The Mill, MPC, Mr. X and Mikros Animation. With the gradual recovery of our key markets, in particular ProductionServices,Technicolor ispoisedtoreturn todelivering profitable growth, cash generation and value creation for shareholders.Duringtheyearwehavestrengthenedourfinancial transparency by regularly communicating our performance, and providing tangible financial targets for the medium term. Thank you for your trust,

Anne Bouverot Chairperson of the Board of Directors

Richard Moat Chief Executive Officer

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2020