Technicolor Creative Studios

Update on the Company's Refinancing - Seite 2

• The Company finalized and signed yesterday a subordinated debt agreement under which a portion of first lien facility of c. 621 million euros (the "First Lien Facility") is converted into a subordinated instrument stapled with the First Lien Facility for a total amount of c. 170 million euros.
  
  
• In addition, the Company yesterday converted into equity part of the receivables held by the lenders under the First Lien Facility, for a total amount of 29,999,999.88 euros by means of a share capital increase reserved for these lenders, for a total amount (including nominal value and issue premium) of 29,999,999.88 euros, consisting of the issuance of 2,004,500.355 new ordinary shares with a par value of 0.01 euro each, at a subscription price of 0.014966323057 euro each, subscribed by way of set-off of receivables (the “Reserved Share Capital Increase”).
  
  

For further details concerning the terms and conditions of the Reserved Share Capital Increase, the Convertible Notes issuance and the issuance and allocation of the New Money Warrants, please refer to the prospectus consisting of the Company's universal registration document, approved by the Autorité des marchés financiers (the “AMF”) on April 21, 2023 under number R.23-013, the securities note (note d’opération), and the summary of the prospectus (included in the securities note), approved by the AMF on May 2, 2023 under number 23-139 (the “Prospectus”). The Reserved Share Capital Increase, the issuance of the Convertible Notes and the issuance and allocation of the New Money Warrants were authorized by the Company's general shareholders’ meeting of May 15, 2023 (the “General Meeting”).

A reverse share split was decided by the Chief Executive Officer on May 30, 2023, following sub-delegation by the Board of Directors on May 15, 2023, in accordance with the twenty-sixth resolution of the General Meeting, subject to the completion, on the date of commencement of the reverse share split operations set on June 16, 2023, of the share capital reduction through decrease of the shares’ par value pursuant to the thirteenth resolution of the General Meeting and of the Reserved Share Capital Increase. Following the fulfillment of these two conditions², the reverse share split will take place in accordance with the timeline provided in the Company's press release dated May 31, 2023.