Group Presentation

for Investors
Nine months 2017

27-APRIL-2016
 Group and
category highlights
Nine months 2017
GROUP 9M 2017 SUMMARY

Good performance in Europe across our 3 categories

Unprecedent market disruption in the U.S. wet shave category
Net sales
Customers’ inventory reductions in U.S. Lighters
Developing markets’ softness due mostly to Brazil

Decline in Normalized IFO margin

Normalized • Increased cost of production
IFO margin • Sustained Brand Support investment
• Higher OPEX

Net Cash
Sustained cash generation
Position

3
GROUP 9M 2017 KEY FIGURES
Net Sales: 1,528.7 million euros

+0.4% +4.5% EUROPE

-0.7% -0.1%
-3.9% NORTH AMERICA

As reported Constant comparative DEVELOPING

currency basis**
+0.8% MARKETS
basis*

Normalized* Income from Operations: 302.9 million euros

20.4% 21.0%
19.8%

9M 2016 NIFO margin 9M 2016 NIFO margin 9M 2017 NIFO margin

excluding special bonus
* See glossary
** During the first nine months of 2017, certain BIC Graphic operations in Developing Markets without a sustainable business model, were stopped.

4
GROUP 9M 2017 KEY FIGURES

EPS (Group share): -11.6% Net Cash Position

In euros In million euros

222.2
4.55 208.1
4.02
181.6

9M 2016 9M 2017 September 16 Dec. 16 September 17

5
 STATIONERY MARKET EVOLUTION
% change vs YAG – value

USA
September 2017
E-commerce 8%
Office supply Food & Drug** 8%
25%

Brick & Mortar* 60%

+19.8%

-1.4% -1.4% -0.3%

-4.4%

E-commerce Food & Drug** Brick & Mortar* Office supply Total
Sources: US = NPD/IRI year-to-date ending September 2017
* Brick & Mortar: Retail & Superstores, including Office Super Stores, Mass Merchandisers, Warehouse Clubs and Dollar Stores
** Food & Drug: other retail outlets and drugstores

6
 BIC STATIONERY IN 9M 2017
Net Sales growth on a comparative basis* Normalized* IFO margin
9M 2017 Net Sales 18.0%

€619.4M
16.0%
+8.0% 10.5%
+9.1% 9.9% 8.9%
+2.6% +4.5% 7.3%
+4.0% +3.1% 5.2% 4.0%
+2.2% 3.6% 3.6%
9M 2017 NIFO
€55.1M -5.1%
Q1 Q2 Q3 9M

Q1 Q2 Q3 9M 2016 excl.
2016 special bonus 2017

9M NET SALES

Europe North America Developing Markets

Mid-single-digit increase
Good back-to-school sell-out in all
European countries
Market share gains in France and
the UK
Low-single digit increase
Market share gains during Back-
to-School
Success of new product launches
Latin America: leadership reinforced in Brazil / Successful Back-to-School sell-out and
market share gains in Mexico
Middle-East and Africa: strong growth (market share gains)
Cello Pens: high-single-digit growth in Domestic Net Sales

9M NORMALIZED IFO

Increased Brand Support investment

*See glossary

7
 BIC LIGHTERS IN 9M 2017

Net Sales growth on a comparative basis* Normalized* IFO margin

9M 2017 Net Sales 39.5% 40.9% 40.6%

€514.8M
41.7%
41.7% 40.1% 40.0%
38.0% 37.4% 40.5%

+5.4% +5.4% +6.5% +5.7%

+2.0%
9M 2017 NIFO 0.0%

€206.0M -0.5% -1.7%

Q1 Q2 Q3 9M
Q1 Q2 Q3 9M

2016 excl.
2016 special bonus 2017
9M NET SALES

Europe North America Developing Markets

Mid-single-digit growth Stable net sales Mid-single-digit decline
Very dynamic trends in Eastern Europe (distribution Through mid-September 2017, stable market share Retailers reducing their inventories in Brazil
gains) (in value terms) in a slightly growing market
Q3 sell-in affected by several customer reducing
their inventories
9M NORMALIZED IFO

Higher costs of production

Increase in operating expenses more than offset by lower Brand Support investment

*See glossary

8
 SHAVER MARKET IN THE U.S.

YTD September 2016 FY 2016 YTD September 2017

-3.7% -4.0% -3.8%

-4.6% -5.0%
-5.8%
-6.3%

Total
-8.9%

Refillable

-12.4%
One-piece

Source: CMR USA MULO (IRI) – % change in value – YTD September 2016 , YTD December 2016 and YTD September 2017

9
 SHAVER MARKET AND BIC MARKET SHARE IN THE
U.S. BY QUARTER

Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

3.0
2.6 2.6
2.2
2.0
1.9 1.9
1.4
1.2
1.0

0.0

-1.0
-0.5 -0.4

-2.0
-1.5 -1.5 -1.5
-2.1
-3.0 -2.6
BIC Market Share change - YTD BIC Market Share change - 13 weeks
Source: CMR USA MULO (IRI) – % change in value

10
 BIC SHAVERS IN 9M 2017

Net Sales growth on a constant currency basis* Normalized* IFO margin

9M 2017 Net Sales 19.8%

€339.3M
15.4%
12.9% 13.8% 14.1% 13.8% 14.7%
+10.9% 13.5%
+9.0% 12.6%
+7.1% 10.7%
+1.4%
9M 2017 NIFO
€45.8M
-0.9%
-5.1% -4.5%
-7.7% Q1 Q2 Q3 9M
Q1 Q2 Q3 9M 2016 excl.
2016 special bonus 2017
9M NET SALES

Europe North America Developing Markets

High-single digit growth Double-digit decline Low-single-digit increase
Market share gains across Europe Market heavily disrupted Latin America: mid-single digit growth
Good performance driven by Eastern Europe Market share gains in the 5-blade men’s one- inventory reduction in Brazil during Q3,
piece segment with 36.8%1 market share
pricing pressure and a highly competitive
environment in Mexico
9M NORMALIZED IFO Middle-East and Africa: stable Net Sales

North American Net Sales and higher operating costs

*See glossary
1/ Source: IRI total market YTD ending 01-OCT-2017 – in value terms

11
 9M 2017
Consolidated results
9M 2017: FROM NET SALES TO NORMALIZED IFO

Change on a
BIC Group
Change as comparative
In million euros 9M 2016 9M 2017 reported basis*
Net Sales 1,522.0 1,528.7 +0.4% -0.1%

Gross Profit 792.4 785.4 -0.9%

Normalized* IFO 311.0 302.9 -2.6%

Income
305.5 278.2 -8.9%
from Operations

*See glossary

13
Q3 2017 NET SALES EVOLUTION
In million euros
FX translation
impact
BRL: -1 M€
USD: -9M€
ARS: -1 M€
GBP : -1 M€
Others: -2 M€

-14 M€

-1.3%
-0.9% -2.2% -2.8%
-5.0%
Change on a comparative Perimeter impact Change on a constant FX translation impact Change as reported
basis currency basis

14
9M 2017 NET SALES EVOLUTION
In million euros FX translation
impact
+17 M€
BRL: +14 M€
USD: +2 M€
ZAR: +3 M€
RUB UAH: +3 M€
MXN: -2 M€
GBP : -3 M€
INR : +2 M€
ARS: -2 M€
+0.4%
+1.1%
-0.1%
-0.6% -0.7%

Change on a comparative Perimeter impact Change on a constant FX translation impact Change as reported
basis currency basis

15
KEY COMPONENTS OF Q3 2017 NORMALIZED* INCOME FROM
OPERATIONS MARGIN

19.9%
-1.9
-0.7 +0.6 17.9%

• Promotions and
investments related to
consumer and business
development support
accounted for in Gross
Profit Margin : -1.3
• Advertising, consumer
and trade support : +0.6

Q3 2016 Normalized* IFO margin Change in cost of production** Total brand support*** OPEX and other expenses Q3 2017 Normalized* IFO margin

*See glossary
**Gross Profit margin excluding promotions and investments related to consumer and business development support.
***Total Brand Support: consumer and business development Support + advertising, consumer and trade support.

16
KEY COMPONENTS OF 9M 2017 NORMALIZED* INCOME FROM
OPERATIONS MARGIN

+0.6 21.0% -0.5

-0.2 -0.5
20.4% 19.8%

• Promotions and
• Impact on Gross Profit: +0.4 investments related to
• Impact in OPEX : +0.2 consumer and business
development support
accounted for in Gross
Profit Margin : -0.6
• Advertising, consumer
and trade support : +0.4

9M 2016 Normalized* IFO Special employee bonus 9M 2016 Normalized* IFO Change in cost of Total brand support*** OPEX and other expenses 9M 2017 Normalized* IFO
margin margin excluding special production** margin
employee bonus

*See glossary
**Gross Profit margin excluding promotions and investments related to consumer and business development support.
***Total Brand Support: consumer and business development Support + advertising, consumer and trade support.

17
9M 2017 FROM IFO TO GROUP NET INCOME

In million euros 9M 2016 9M 2017

IFO 305.5 278.2

Finance revenue/costs 1.7 -0.8

Income before Tax 307.3 277.4

Income tax 92.3 83.3

Effective tax rate 30.0% 30.0%

Net Income From Continuing Operations 215.0 194.1

Net Income From Discontinued
-1.3 -6.7
Operations*
Net Income Group share 213.7 187.3

Number of shares outstanding net of treasury shares 46,955,299 46,635,853

EPS Group Share 4.55 4.02

*: Third quarter and Nine months 2016 and 2017 results are accounted for and presented in accordance with IFRS 5: BIC Graphic North America and Asia Sourcing Operations’
Assets and Liabilities are accounted for as ”Non-Current Assets Held For Sale” and “Discontinued Operations” since December 31, 2016.

18
BALANCE SHEET
BIC Group December September
In million euros 2016 2017

Total Working Capital 642.2 607.5

Of which inventories 468.1 445.5

Of which Trade
483.1 495.7
and other receivables

Of which Trade
118.7 120.1
and other payables

Inventories in days Receivables in days

181 73
164 166 69
66

September 2016 December 2016 September 2017

September 2016 December 2016 September 2017

19
 NET CASH POSITION
In million euros

Operations

+275.4 -3.3 -133.2

-161.0

222.2
-21.2
-53.0 55.7 181.6
Net Cash From
Operating activities
+272.1 M€

December 2016 Net Operating cash flow Change in working CAPEX Dividend payment Share buyback, Proceeds from sale of Others September 2017 Net
Cash Position capital and others exercise of stock BIC Graphic North Cash Position
options and liquidity America and Asian
contract Sourcing *

*Excluding 8.8 million euros of subordinated loan

20
 2016 - 2017
Paving the Way for
Future Profitable Growth
 STATIONERY
2016 MARKET SHARE

Canada (N°2) India – CELLO (N°1)

24.1% - Flat 25.4%
Widen gap vs. N°2

USA (N°2) Western Europe (N°1)

18.3% - Flat
14.3% - Flat
Gain in France & Germany

Mexico (N°2)
35.4% - Flat

South40.4%
Africa (N°1) Australia (N°2)
Highest Market Share to 28.2% - Down
Brazil (N°1) Date
53.9%
Best Market Share gain

Source: EU7 GFK DEC-2016. / US NPD/IRI NOV-2016 / CAN. Nielsen DEC-2016 / MEX. Nielsen SEP-2016 / BRA. Nielsen OCT-2016 / SAF. Nielsen NOV-2016 /
AUS. Aztec NOV-2016 / IND. Market Pulse NOV-2016

22
 STATIONERY
A SOLID 2016 PERFORMANCE DRIVEN BY SUCCESSFUL NEW PRODUCT INTRODUCTIONS…

New Products as % of Sales

Cristal’UP 4 Colours Atlantis
25% 27%
23%

2010 2015 2016

Champion Brands as % of Sales

45% 46%
36%

2010 2015 2016

23
 STATIONERY
… AND ENHANCED BY INNOVATIVE MARKETING INITIATIVES

Classic Advertising Digital Social Media

TV CAMPAIGN IN EUROPE BIC KIDS DRAWYBOOK IN EUROPE EVOLUTION GRAPHITE PENCIL

VIRAL DIGITAL AD IN LATIN AMERICA

+16% sell-out App Generated over 120K downloads 5.1M views

and ranked #1 under Kid’s category
in App Store and Google Play

55.1K likes

24
 STATIONERY
2017 NEW PRODUCTS

Continue to build on our Champion Brands

BIC Gel-ocity Quick Dry BIC 4 Color 3+1HB BIC Atlantis X-Smooth
Innovative fast drying gel ink Extend the 4 Color range with Improved ink smoothness
1 Mechanical Pencil + 3 ball pen on premium Atlantis Ball Pens
cartridges

BIC Gel-ocity Illusion BIC Velocity Max BIC Intensity Fine

Erasable gel to meet growing The thickest eraser and clear body Enter Fine Writing Felt Pen
consumer demand with an ultra comfortable grip with an attractive offer

25
 LIGHTERS
FOCUS ON ADDED-VALUE PRODUCTS AND INCREASED DISTRIBUTION

BIC® Lighters Net Sales Growth Increase distribution

Sleeves: 21% of total Lighters

sales in 2016

Sleeves CAGR: +10.7%

Total Lighters CAGR: +6.9% Continue to reinforce distribution,

notably in Latin America
and Eastern Europe
2012 2013 2014 2015 2016

26
LIGHTERS
2017 NEW SLEEVES

Europe North America

Latin America MEA - Asia - Pacific

27
 SHAVERS
RECENT MARKET TRENDS & BIC PERFORMANCE

% of Value-added Products in total sales

+ 5.0%

61% 62%
49%
- 5.0%

Europe North America Latin America

One-Piece Segment YonY performance BIC YonY Performance

2011 2015 2016

Source: Nielsen/IRI / Europe= 16 countries (YTD June 2016) / NAM= USA (YTD December 2016) / LAM= BRA (YTD December 2016)

28
 SHAVERS
THE U.S. MARKET IN 2016

On-line Players
Off-line Market Sales

2.3%

-1.9%

-4.2%
-4.6%
-5.0%
-6.1%
2015 2016
Total Refillable One-piece

Source: IRI MULO – YTD December 2015 & December 2016

29
SHAVERS
BIC’S 2016 PERFORMANCE IN THE U.S.

+1.4 pt Market Share

28%

Volume brand in
27% the one-piece segment

25%

2014 2015 2016

30
 SHAVERS
BIC’S 2016 PERFORMANCE IN EASTERN EUROPE - RUSSIA

+2.0 pts Market Share +15 pts of distribution

(numerical distribution - male segment)

60%

14% 45%
12%
11%
10%
28%

2013 2014 2015 YTD Oct.

2016 2014 2015 YTD Oct. 2016

Source: RUSSIA Nielsen data YTD OCT 16

31
 SHAVERS
BIC’S 2016 PERFORMANCE IN LATIN AMERICA - BRAZIL

+1.0 pt Market Share +18 pts household´s penetration

32%
29% 27%
17%
16% 16%

2014 2015 YTD June MAT June MAT June MAT June
2016 2014 2015 2016

Source: BRAZIL Nielsen data YTD JUN 16 & Kantar Worldpanel – Penetration: MAT JUN 2013 a MAT JUN 2016

32
 SHAVERS
2017 NEW PRODUCT – U.S.

Continue the trade up strategy and bring back consumers into retail with BIC Flex 5 Hybrid

Our successful Value for Money Hybrid offer:

1 handle + 4 heads

Our best shaving performance: 5 flexible blades,

heavy ergonomic handle with balancing sphere,
precision edging blade for ultimate shaving performance

Price comparison – index 100

Main Competitor Offline 232

Main Competitor Online 113

BIC Flex 5 Hybrid 100

Source: Offline Walmart in store price per unit DEC 16 // Online advertised price per unit

33
 SHAVERS
2017 NEW PRODUCT – LATAM & EASTERN EUROPE

Continue the trade up strategy within our BIC franchise with the launch of two premium offerings

BIC’s successful Flex franchise BIC’s successful Soleil franchise

3 moveable blades 3 blades with protective comfort shield

to reduce irritations
Ergonomic heavy handle
Ergonomic handle adapted to women
BIC’s best shave at a BIC price!
BIC’s best shave at a BIC price!

Price comparison – index 100 Price comparison – index 100

Competitor 1 111 Competitor 1 125

Bic Flex 3 100 Bic Soleil Sensitive 100

34
SHAVERS
2017 NEW PRODUCT – WESTERN EUROPE

Direct-to-Consumer Subscription Offer

Men Refillable

Value Positioning

Launch: Spring 2017

An innovative on-line offer tested in France

35
2017 GROUP OUTLOOK

Net Sales Organic Growth is expected to be slightly below 2%.

At this sales growth level, 2017 Normalized Income from Operations

margin decline should be less than 100 basis points.

36
LONG-TERM STRATEGIC PRIORITIES

Continue to create long-term value
by outperforming our markets
and growing sales organically
low to mid-single digit thanks to:
Expanded distribution networks
in all geographies
Grow Normalized Income From
Operations through increased
productivity as we invest
in our people and Brand
Support and in Research
& Development with a focus
Maintain strong cash generation to:
Continue to grow the business
organically
Finance strategic bolt-on
acquisitions

Increased focus on value-added

segments in Developed markets
Enlarged consumer base
in Developing markets
on quality and innovative new
Sustain total Shareholders’
products remuneration

We offer simple, inventive and reliable choices

to everyone, everywhere, every time

37
Group overview
HISTORY AT A GLANCE

1950 …Marcel Bich launches the BIC® Cristal, the first high quality ballpoint pen
at an affordable price

1954 …The Group starts its international expansion in Europe (Italy, UK, …),
Latin America (Brazil) and North America (USA)

1969 …First step in Advertising & Promotional Writing Instrument (BIC graphic)

1973 First BIC® lighter

1975 First BIC® one piece shaver

Since the beginning, on-going product development (correction, luxury fountain pen,
school fountain pen, imprinted promotional bags, …) and geographical expansion
(Latin America, Eastern and Central Europe, …)

39
A BALANCED PORTFOLIO OF ACTIVITIES
FY 2016 sales breakdown by category*

3%
3% 36%

23%

35%
*Restated from IFRS 5 “Discontinued operations” following the envisaged disposal of BIC Graphic North America and Asia sourcing
40
INTERNATIONAL FOOTPRINT
FY 2016 sales breakdown by geography* History

1950: France
DEVELOPING EUROPE
MARKETS 1954: Italy
27%
33% 1956: Brazil
1957: “Sterling” zone (UK, Australia…)
1958: USA, Africa, Middle East
1959: Scandinavian countries
1965: Japan, Mexico
1995: Eastern and Central Europe
1997: Expansion in Asia
NORTH AMERICA 2009: India (Cello)
40%

*Restated from IFRS 5 “Discontinued operations” following the envisaged disposal of BIC Graphic North America and Asia sourcing

41
CAPITAL OWNERSHIP (31-DEC-2016)
As of December 31, 2016, the total number of issued shares of SOCIÉTÉ BIC is 47,552,202 shares
representing 69,098,170 voting rights.

1.8%
TREASURY SHARES
43.2%
BICH FAMILY
(Voting rights: 59.2%)

55.0%
PUBLIC

42
STRATEGIC ASSETS
Quality and Value product positioning
▪ A large and diversified product portfolio aimed at answering consumers’ needs

▪ Innovation: 12% of net sales through new products in 2016

▪ Recognized brands

▪ Historical international footprint

- Present in more than 160 countries
- More than 30% of 2016 net sales in developing countries

▪ An international, complete and solid distribution network

▪ On-going and sustained productivity improvement policy

▪ A solid balance sheet and a clear use of cash strategy

43
 KEY STRENGTHS

Worldwide Balance
Products Brand…S
leadership Sheet

N°2 Stationery
Simple
cc.9%
market share
€119.8M Free Cash
Reliable Flow generation***

N°1 Lighters
Inventive cc. 50% market
share**

At the right Price

€222.2M Net Cash
N°2 Shavers Position at the end
22% market share* of 2016
of one-piece
in USA and Europe

* One-piece shavers in major markets (US, Europe, Latin America)

** Outside Asia
***Before acquisition and disposals

44
STRONG INTERNATIONAL BRANDS

BIC Stationery brand

unaided awareness rate

92 91 94
86 84
74 79
60

France United Kingdom Italy United-States Canada Mexico Brazil Argentina

Source: 2015 Category Incidence Study

45
MANUFACTURING NETWORK

93%* of the BIC®

consumer products are
produced in BIC owned
factories

*Excluding BIC Graphic Developing Markets and Europe

46
BIC IN 2016
OPERATIONAL PERFORMANCE

19.7% 20.2%
19.4% 18.7% 19.3%
17.9% 18.2%
17.4% 17.2% Normalized*
15.1% 15.3% IFO margin

5.9% 6.2%
4.6% 4.9%
3.6% 4.2%
3.3% 3.1% 2.8%
1.6%
-0.6%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016**

Net Sales growth

on a comparative basis
*See glossary
** Excluding BIC Graphic North America and Asia sourcing
47
 BIC IN 2016
CASH GENERATION

In million euros

297.2
263.6
239.4
221.9 225.7
204.6 203.6
194.4
179.1 185.4 186.7
167.5
147.8 145.7144.3
129.4 119.8
116.3 115.1 115.6108.8 119.8
99.4 99.5

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Free Cash Flow Free Cash Flow

before acquisitions and disposals* after acquisitions and disposals*
* See glossary

48
CAPEX
300 10.0%

8.9%
5.3% 5.9% 6.6% 5.7% 5.7% 5.4%
250

3.4% 3.4% 4.9% 0.0%

** Other Development
200

181 -10.0%

Capex Capex*
18% 53%
150 -20.0%

125 121
107 112
100

83 89 -30.0%

77
63
53
50 -40.0%

Maintenance
0 -50.0%

Capex
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 29%

Total Capex to sales

*Capacity + new buildings and land + new products

** Including BIC Graphic North America and Asia Sourcing

49
 USE OF NET CASH AND SHAREHOLDERS REMUNERATION

In million euros

117
298
264
58 239
205 15 226 74
179 182 185 53 160
91 85 121
146 49
51 31
129 13 116 120
1 135
99 25 58 64 68 122
65 101 104
72 65 80 82
49 40 17 42
26
2 8 2 8 10 14 26
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Business divestiture Share buyback Free cash flow* Ordinary dividend Exceptional dividend Acquisition

* Estimates based on 31-DEC-2016 number of shares outstanding excluding treasury shares

50
USE OF CASH (1/2)

181* million euros

CAPEX
1 in 2016

Invest
to prepare
Bolt-on strategic
the future Acquisitions
acquisitions

2007 2009 2009 2009 2011 2013 2014 2015

Atchison APP Cello Pens Norwood Angstrom Cello Pens Cello Pens Cello Pens
Products Promotional (Partnership) Promotional Fuel Cell Majority stake Majority stake Majority stake
Promotional products Writing instruments products Canada of 55% of 75% of 100%
products Europe India USA
USA

* Including BIC Graphic North America and Asia Sourcing

51
 USE OF CASH (2/2)
In euros Dividend per share Special Dividend

2 3.40 3.45
2.85 2.50 PAY-OUT RATIO
2.56 2.60
2.20
Ensure a steady 1.90 1.80
1.35 1.40 65% based
growth of the 0.90
1.00 1.15 1.30 1.35
1.00 on 2016 results
ordinary dividend
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

In million euros
101.4
80.2 81.6
3
39.9 42.0
55.0
Special
Share
25.7
10.2
26.3 4 dividend
1.9 1.6
buy-back
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD
September
2017

52
2016 OPERATIONAL INVESTMENTS

Main 2016 CAPEX by category 79% increase in Development

CAPEX

Stationery Lighters Shavers

Samer (FR) • Marne-La-Vallée (FR) Redon (FR) • Milford (USA) Manaus (BR) • Saltillo (MEX)
Bizerte (TU) - Manaus (BR) Tarragona (SP) Athens (GR)

53
STATIONERY
 THE CONSUMER STATIONERY MARKET (1/3)
Total worldwide consumer stationery market = 8.6 billion Euros in 2015
Key geographical markets breakdown (in value) Breakdown by main segment (in value)

Others Correction
India 6% 6%
4% Europe Coloring
26% 16%

Asia Pens
37% Marking 56%
17%
Of which:
North 23% Ball pens
19% gel ink
America
18% Mechanical
Latin pencils
America 5%
9%
All market shares are based on 2015 estimated suppliers net sales figures

55
 THE CONSUMER STATIONERY MARKET (2/3)
10.0%

Market trends by geographies (in value)

Market growth (CAGR)
2015/2011

India Latin
America
5.0%

North
America Asia

Europe

0.0%

BIC Estimates & Published Research Size in million euros

56
 THE CONSUMER STATIONERY MARKET (3/3)
Total worldwide consumer stationery market = 8.6 billion Euros in 2015
Breakdown by main supplier (in value)

Schwan-Stabilo Others
1.8%
Zebra
49.9%
2.0%
Pentel
2.8%
Crayola
3.5%

M&G (China)
4.4%

Faber Castle
4.4%

Mitsubishi
5.8%
Newell
Pilot 10.0%
BIC*
6.2% 9.2%
BIC Estimate & Published Research – 2015 – Manufacturers figures – Pens, pencils, markers, coloring, correction
* With Cello Pens
57
STATIONERY CONSUMER – BIC STRATEGY

Generate profitable growth through

Gaining market share in Developed countries (markets more or less flat)

focusing on Champion Brands new products
Accelerating sales growth in fast growing countries
(markets up mid to high single digit)
Developing geographical footprint
Focus on giving “more for your money” to consumers through
best quality at the right price
Increased consumer-relevant innovation

58
 STATIONERY CONSUMER: “QUALITY @ A BIC PRICE”

More than 3m
outlets Historical Iconic
worldwide* and close products
relationship
with the trade

Worldwide
leadership Strong brands
positions

Strong positions
in major market
segments Consumer trust for Innovation
more than 50 years

* Outside Cello Pens

59
 2010- 2016 BIC STATIONERY CONSUMER KEY
FIGURES
FY 2016 FY 2016
€736.6M €67.5M
Net Sales NIFO

Net sales change on a comparative basis Average

Volume +7.0% +6.0% +1.0% +0.3% +4.0% +2.0% +1.5% +3.1%
Value +6.7% +4.1% +2.6% +2.1% +4.2% +3.6% +5.2% +4.1%

15.0%
14.0%
12.1% 12.7% 12.5%
11.5% 12.4%
9.2%

2010 2011 2012 2013 2014 2015 2016

Normalized IFO margin
60
 BIC® PRODUCT RETAIL PRICE POSITIONNING
Ball pen Retail prices in France
In euros

4.45 €

2.53 €
2.24 €
1.98 €
1.63 €
1.46 €

0.73 €
0.32 € 0.36 € 0.41 €

Cristal medium Cristal Fashion Cristal like me M10 4 coulours Atlantis soft Cristal stylus Learner bell pen 4 colours 4 colours stylus
Shine/Decor/Fluo

Source : PVC recommended, 2016, BIC France CP, France Modern Mass Market

61
 STATIONERY CONSUMER
BIC POSITIONS IN MAJOR MARKET SEGMENTS*

N°1 in Ball Pen N°1 in Mechanical N°1 in correction N°2 in marking

(21% market share) Pencils (19% market share) (5% market share)
(13% market share)

N°1 in
N°1 in Latin
Western N°2 in the U.S.
America
Europe (15% market
(21% market
(18% market share)
share)
share)

*BIC Estimates – 2015 (in value)

62
LIGHTERS
 THE POCKET LIGHTER MARKET
VOLUMES VS. VALUE

Volumes: 13.8 billion units Value: 4.9 billion euros

World
Excl. Asia
35%
44%
56%
65%

Asia

BIC estimates for 2015 – Retail prices

64
 THE POCKET LIGHTER MARKET
KEY PLAYERS OUTSIDE ASIA
Market shares in volume outside Asia Market shares in value outside Asia
Of which
Of which Swedish Match: 6%
Flamagas: 6% Flamagas: 6%
Swedish Match: 5% Tokkai: 1%
Tokkai: 2%
Asian
13% manufacturers 18%

32%
BIC

cc.
57%
30% Other branded
Lighters

cc.50%

BIC estimates for 2015 – Retail prices

65
 OVERVIEW OF MANDATORY SAFETY REGULATION
AROUND THE WORLD

ISO: 1989 2000

CR: 1995
2006
2011
1994
2005
CR: 1992
ISO: 2004
ISO: 1997
CR: 2016
1998
2003

2010

2007

ISO 9994 1997

2003
Child resistant 2006
2003 1999
ISO 9994 and Child Resistant

66
 LONG TERM VIEW OF SAFETY REGULATION IMPACT
ON LIGHTER SALES
Latin North
Africa Asia Europe
America* America*
ISO 9994
conform
lighters

Low quality
lighters

Matches

* Real enforcement of the regulation

67
BIC LIGHTER – STRATEGY

Strengthen our position as the only lighter brand with worldwide strengths

By promoting the extension and the total enforcement

of international safety standards

By accelerating the development of value-added products

(sleeves, cases and utility lighters)

68
 BIC LIGHTER
N°1 BRANDED LIGHTER MANUFACTURER
Market leadership - Estimated market shares (in value)

cc. 50% > 70%

> 65%

< 30%

Worldwide* Europe North America Latin America

Safety – Quality – Prevention & education Integrated distribution network

Dedicated Customer Support Teams

More than in all countries
50 automatic Largest distribution network
vs. market quality controls
average

* Excluding Asia
69
 USAGE DIVERSIFICATION
AND INCREASE IN THE NUMBER OF SMOKERS
Usages (United
Number of smokers
States)
Cigarettes
Developed markets

-0.9% per year

Candles

cc. 1/3 Developing markets

of usages
«excluding cigarettes»
1.1% per year
Others

2013 2017e

Source : Disposable Pocket Lighters Awareness and Usage Study Source : Euromonitor – in thousand – 80 countries
January 2015 – United States

70
 2006 – 2016 BIC LIGHTER KEY FIGURES
FY 2016 FY 2016
€696.4M €277.3M
Net Sales NIFO

Net sales change on a comparative basis Average

Vol. -5.0% +3.0% +10.0% +8.0% +3.0% +3.8% +4.0% +5.0% +2.3% +3.8%
Value +5.6% +3.7% +0.8% +5.3% +11.6% +8.6% +4.3% +7.0% +8.3% +8.3% +5.6% +6.3%

38.9% 38.2% 39.8% 35.7%

36.2% 37.4% 37.0% 37.7%
32.5% 34.0%
32.1%
29.2%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Normalized IFO margin
71
 BIC® LIGHTERS SALES EVOLUTION IN THE U.S.
Continue to leverage all growth drivers
2009-2015 : +6%
In value
+1 +2
+3
+1
106
100
-1

2009 Cigarette Other Combustible Sleeves trade-up Distribution Gains Price 2015
Consumption Consumption

72
 BIC® LIGHTER RETAIL PRICE POSITIONNING
1.88 €
1.83 €

$1.42
1.20 €
1.06 €
0.93 €

$0.49
0.40 €
0.26 €

Europe USA Brazil China

(in euros) (in dollar) (in euros) (in euros)
BIC Other compliant lighter Non-compliant lighter
Source: BIC (Reference J26 for Europe, USA, Brazil and J3 for China)
Europe, USA, Brazil and China : 2016 data

73
 BIC® LIGHTER RETAIL PRICE PER FLAME
Based Indice 1

2.1

1.4 1.4
1.3 1.3
1.0 1.0 1.0 1.0

Europe USA Brazil China

BIC Other compliant lighter Non-compliant lighter

Source: BIC (Reference J26 for Europe, USA, Brazil and J3 for China)
Europe, USA, Brazil and China : 2016 data

74
SHAVERS
 THE SHAVER MARKET (1/6)

Total wet shave market in 2016: 12.0 billion euros

DOUBLE EDGE
3%

ONE-PIECE
38%

REFILLABLE
59%

Source: Euromonitor + Industry publications

76
 WET SHAVE MARKET – REGIONAL STRUCTURE
in value
Disposable System

NAM WE EE
6% 6% 2% NAM WE
EE
Men 16% 17%
5%
80%
MEA
MEA
LAM 1%
2%
MEA
9% LAM 1%
ASIA 4% ASIA OCE
1%
3% 8%
Women
28% 52%
20% 7% 10%
NAM
WE EE
NAM
3% 0.3% WE EE
2%
5% 2% 1%

LAM ASIA
1% 1%
ASI
Source: Euromonitor 2016 / Internal A
1%
77
 THE SHAVER MARKET (3/6)

Wet Shave market trend (in billion euros)

12.6
12.0 12.0 12.0
10.8 11.0
10.2
9.1 9.5
8.2 8.6

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: Euromonitor + Industry publications

78
 THE SHAVER MARKET (4/6)
Global Wet Shave Source of Growth – in value
(CAGR 2009 to 2016)

27%
40%
33%
Trading Up
& Price Increase
Consumption
Population
Growth
Growth

2009 2016
Source: Euromonitor 2016 + Internal estimate

79
 THE SHAVER MARKET (5/6)
Market evolution towards more value-added products (in value)

Western Europe USA

Single Blade Twin Blades Triple Blades and More Single Blade Twin Blades Triple Baldes and More

86%
80%
74%

54%

42%
23%
14% 16%

4% 4%
0% 3%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: USA = IRI MULO FY 2016

Westerne Europe = AC Nielsen - 9 countries FY 2016

80
 THE SHAVER MARKET (6/6)
Market evolution towards more value-added products (in value)

Brazil
87% Single Blade Twin Blades Triple Blades and More

62%

33%

9%
4%
5%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: AC Nielsen – FY 2016

81
SHAVERS - STRATEGY

Strengthen our foundation in one-piece

A complete and successful range of one-piece three, four and five-blade
products for men (BIC 3™, Comfort 3™, Hybrid 3™, Flex 3™, Flex 4™,
Flex 5™, Hybrid 5 ™…)

A strong franchise in the women’s segment with the BIC® Soleil® Brand

Products offering a better value

Great value for money positioning

82
 2006 – 2016 BIC SHAVER KEY FIGURES
FY 2016 FY 2016
€467.0M €69.6M
Net Sales NIFO

Net sales change on a comparative basis Average

Volume +0.0% -4.0% +7.0% +3.0% +3.0% +3.8% +4.0% +1.0% +0.6% +2.0%
Value +6.2% +9.2% +3.9% +2.4% +7.6% +9.1% +10.1% +6.5% +4.1% +11.9% +7.0% +7.1%

18.0% 18.5%
17.8% 13.8%
17.1% 17.0%
14.9%
14.2%
12.5%
9.9%
8.2%

4.1%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Normalized IFO margin
83
 ONE-PIECE MARKET SHARES IN EUROPE
(15 COUNTRIES)

In volume In value

51%
38%

17%
14% 17% 18%

Gillette BIC Schick Gillette BIC Schick

Source: IRI Nielsen - Last 52 weeks ending December 2016 (Europe 15 countries)

84
 ONE-PIECE MARKET SHARES IN USA
In volume In value

31% 36%

24% 28%

15%
10%

Gillette BIC Schick Gillette BIC Schick

Source: IRI Nielsen - Last 52 weeks ending December 2016

85
 ONE-PIECE MARKET SHARES IN BRAZIL
In volume In value

71%
78%

23%
17%

1% 1%
Gillette BIC Schick Gillette BIC Schick

Source: IRI Nielsen - Last 52 weeks ending December 2016

86
 BIC MARKET SHARES IN 3 AND MORE BLADES
DISPOSABLE SHAVERS SEGMENT
In volume In value

33% 31%
30%
25% 26%

20%

Europe United States Brazil Europe United States Brazil

Source: IRI Nielsen AC Nielsen and BIC estimates (Europe, US and Brazil: December 2016)

87
 SHAVERS: QUALITY AND INNOVATION
AT A REASONABLE PRICE
Fusion 5.99

Offline system
Hydro 5 3.33 Fusion 4.99

US (USD)
Pricing
One-piece shaver

Flex 5 2.83
Men – US (USD)

Mach 3 2.33 Hydro 5 3.81

BIC Hybrid 5 2.00
BIC Flex 4 2.00 Sensor 2.60
Sensor 3 1.50
BIC Flex 3 1.25
Extreme 3 1.17

Online system
Hybrid 3 Comfort 0.83 Dollar Shave Club 6 Blades 2.25
Sensor 2 0.67

US (USD)
Pricing
Slim twin 0.50
Harry's 5 Blades 1.88

Venus Embrace Disposable 4.00 Dollar Shave Club 4 Blades 1.50

Hydro Silk Disposable 3.33
Women – US (USD)
One-piece shaver

BIC Soleil Shine 2.66

Venus Disposable 2.33
BIC Soleil Glow 2.00

Online system

Europe (EUR)
Quattro Disposable 2.00
Big Moustache 5 Blades 2.38

Pricing
BIC Soleil Bella 2.00
Simply Venus 3B 1.50 BIC Shave Club 5 Blades 2.25
BIC Soleil Twilight 1.37
BIC Silky Touch Harry's 5 blades 2.23
0.29
Source : Walmart non-promoted price per unit - Ending February 2017

88
 LONG-TERM PRIORITIES

More performance… always at a fair price

Unit price 5
4 blades

3 blades
blades
Competitor 1
Competitor 2 2 BIC Flex 5
BIC
blades BIC Flex 5 Hybrid
1 BIC Flex 4

blade
BIC Comfort
BIC Sensitive 3 Advance
BIC Twin Select
Shaving performance
89
LONG-TERM PRIORITIES
DEVELOPING MARKETS
Adapting our offer

Developed
markets

Developing
markets

90
Governance
BOARD OF DIRECTORS COMPOSITION IN 2017
Bruno BICH Pierre VAREILLE

Chairman and Chief Vice Chairman

Executive Officer Lead Director

Mario GUEVARA François BICH Elizabeth BASTONI

Marie-Pauline Marie-Henriette
John GLEN
CHANDON-MOËT POINSOT

SOCIÉTÉ M.B.D.
Candace MATTHEWS Represented by Edouard
BICH
Independent directors

92
BOARD OF DIRECTORS FUNCTIONING IN 2016

10 directors 6 meetings 95% attendance rate

4 independents 4 nationalities 30% Women*

*This percentage increased to 40% after the approval of the resolution of the May 10, 2017 Shareholders’ meeting, related to the appointment
of Mrs. Candace Matthews.
93
LEADERSHIP TEAM
Bruno BICH
Chairman and Chief Executive Officer

Gonzalve BICH Benoit MAROTTE Marie Aimée BICH-DUFOUR

Executive Vice-President Europe - North America - Asia - Pacific Executive Vice-President
Chief Operating Officer BIC Corporate Foundation & Board Secretary

Chris MILLS Jim DIPIETRO

Peter DALSBERG
North America Executive Vice-President
Stationery
Finance

François CLÉMENT-GRANDCOURT Ricardo Ibarra Ed DOUGHERTY

Lighters Latin America Strategy

Thomas BRETTE Peter VAN DEN BROECK Edouard MARUANI

Shavers Africa - Middle-East - India Legal

Tim PERMAN Laurent SERANO Alison JAMES

Strategy and Business Development Information Technology Human Resources

94
 Sustainable
Development
 DISTRIBUTION TO STAKEHOLDERS IN 2016*

Employees
641.5 M€
Communities Suppliers
2.4 M€ 1,117.7 M€

Net investments Clients Shareholders

178.9 M€ 277.0 M€

Governments Banks
151.8 M€ -5.6 M€
*Not restated from IFRS 5
96
 MEASURE…
Items used to advertise and promote a product,
a service or a company program

BIC®
Cristal® 88% 7% 4% - 1%
Pen

Lighter
BIC® 87% 6% 5% - 2%
Maxi

BIC®
Classic
Single-blade 83% 11% 4% - 2%
Shaver

(shaver
inc.usage) 78%

97
… TO ECO-DESIGN …

Take into account our main impact: use of non renewable raw materials

1
Light and long lasting Reduce to the raw
products material weight

2
Maximum increase
Refillable products
of the duration of use

3
Recycled plastic and metal Use alternative
Plastic from vegetal origin materials

98
… OUR PRODUCTS
A trendsetting range
Light and long-lasting products overcoming
the paradox of disposable vs. long-lasting

Eco-values on packaging
for stationery products

99
FRENCH ECOLABEL NF ENVIRONNEMENT
BIC FIRST MANUFACTURER TO BE CERTIFIED

Cristal® Fine
Clic Stic™

Orange™ Fine BIC Matic

Evolution™ 650
Cristal® Medium (uniquement en boîtes)

Evolution™ 655
Atlantis® Clic (in box only)

Evolution™ coloring

4 Couleurs™
Evolution™ coloring Triangle

4 Couleurs™ fine
BIC® Kids Visacolor™ XL

4 Couleurs™ pro & 4 Colors™ Counter Pen Evolution™ Black

100
 AN EXAMPLE OF ECODESIGN:
THE BIC® EASY SHAVER
Ecodesign allowed to create a shaver with:
▪ Less material
1st step: ▪ With the same characteristics, therefore the same perception of quality by the consumer

Reducing
the quantity
of material
-20%

BIC® C3 ® AdvanceTM BIC® Easy

BIC® EASY 1
lighweight handle
2nd step:
= + sold with 6 heads

Have a longer 60 days of shaving

duration -59%
of use of environnemental
Impact

= on the duration
of use

101
Appendix
Q3 AND 9M 2017 NET SALES
MAIN EXCHANGE RATE EVOLUTION VS. EURO

Average Average Average Average

rate rate rate rate
% of sales Q3 2016 Q3 2017 % of change % of sales 9M 2016 9M 2017 % of change
US Dollar 38% 1.12 1.17 -4.9% US Dollar 38% 1.12 1.11 0.2%
Brazilian Real 9% 3.62 3.71 -2.4% Brazilian Real 9% 3.95 3.54 11.8%
Mexican Peso 6% 20.95 20.93 0.1% Mexican Peso 6% 20.45 20.97 -2.5%
Argentina 1% 16.70 20.30 -17.7% Argentina 1% 16.27 18.14 -10.3%
Canadian dollar 3% 1.46 1.47 -1.1% Canadian dollar 3% 1.47 1.46 1.3%
Australian dollar 2% 1.47 1.49 -1.1% Australian dollar 2% 1.50 1.45 3.5%
South African Zar 1% 15.70 15.48 1.4% South African Zar 2% 16.69 14.69 13.6%
Indian Rupee 4% 74.72 75.51 -1.0% Indian Rupee 4% 74.93 72.61 3.2%
Non Euro European countries 9% Non Euro European countries 7%
Sweden 9.51 9.56 -0.5% Sweden 9.38 9.59 -2.2%
Russia 72.07 69.20 4.1% Russia 76.09 64.94 17.2%
Poland 4.34 4.26 1.9% Poland 4.36 4.26 2.2%
British Pound 0.85 0.90 -5.3% British Pound 0.80 0.87 -8.0%

103
9M 2017 NET SALES BREAKDOWN
BY CATEGORY

OTHER
PRODUCTS
STATIONERY
3%
41%

SHAVERS
22%

34%
LIGHTERS

104
9M 2017 NET SALES BREAKDOWN
BY GEOGRAPHY

32% 29%
DEVELOPING MARKETS EUROPE

39%
NORTH AMERICA

105
GROUP QUARTERLY FIGURES

Including BIC Graphic North America and Asia sourcing Excluding BIC Graphic North America and Asia sourcing (IFRS 5)

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 510.8 623.2 548.3 559.4 2,241.7 469.3 562.2 490.5 1,522.0 503.8 2025.8 469.2 593.7 465.8 1,528.7

YoY actual changes +17.6% +16.6% +10.4% +8.9% +13.3% +0.3% -1.1% +1.1% +0.1% +6.7% +1.6% +0.0% +5.6% -5.0% +0.4%

YoY changes on a constant currencies basis* +6.2% +5.2% +4.1% +6.9% +5.6% +6.7% +4.6% +3.0% +4.7% +5.4% +4.9% -4.1% +3.6% -2.2% -0.7%

YoY changes on a comparative basis* +3.9% -0.9% -0.1%

IFO 97.6 143.9 104.2 94.2 439.9 81.4 127.9 96.2 305.5 97.8 403.4 74.3 120.6 83.3 278.2

Normalized IFO* 101.8 137.4 104.2 88.6 432.0 81.4 132.1 97.4 311.0 98.1 409.1 81.3 138.2 83.5 302.9

IFO margin 19.1% 23.1% 19.0% 16.8% 19.6% 17.3% 22.7% 19.6% 20.1% 19.4% 19.9% 15.8% 20.3% 17.9% 18.2%

Normalized IFO margin* 19.9% 22.0% 19.0% 15.8% 19.3% 17.3% 23.5% 19.9% 20.4% 19.5% 20.2% 17.3% 23.3% 17.9% 19.8%

Net Income Group Share 77.2 99.3 76.3 72.1 325.1 51.0 89.1 73.6 213.7 36.0 249.7 49.7 79.9 57.8 187.3

EPS Group Share 1.64 2.10 1.62 1.53 6.89 1.08 1.89 1.57 4.55 0.77 5.32 1.06 1.71 1.24 4.02

*See glossary

106
GROUP QUARTERLY FIGURES BY GEOGRAPHY

In million euros Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17
Europe
126.6 170.0 131.4 428.0 116.8 544.8 129.5 177.5 135.3 442.4
Net Sales
YoY actual changes +7.6% +6.3% +0.0% +4.7% -1.7% +3.2% +2.3% +4.4% +2.9% +3.4%
YoY changes on a comparative basis* +9.2% +8.6% +2.5% +6.8% -0.1% +5.3% +2.3% +4.8% +6.4% +4.5%

North America
188.0 236.4 201.9 626.3 185.7 812.0 177.5 242.1 184.0 603.6
Net Sales
YoY actual changes +5.6% +0.3% -1.7% 1.2% +7.5% +2.5% -5.6% +2.4% -8.9% -3.6%

YoY changes on a comparative basis* +4.1% +2.8% -1.3% 1.8% +5.8% +2.7% -9.2% +0.7% -4.5% -3.9%

Developing markets
154.8 155.7 157.2 467.7 201.3 668.9 162.1 174.0 146.5 482.7
Net Sales
YoY actual changes -10.2% -9.8% +6.0% -5.2% +11.5% -0.7% +4.7% +11.7% -6.7% +3.2%

YoY changes on a comparative basis* +7.6% +3.3% +9.2% +6.6% +8.6% +7.1% -3.2% +7.9% -2.2% +0.8%

*See glossary

107
 STATIONERY

Excluding BIC Graphic North America and Asia sourcing (IFRS 5)

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 157.1 233.2 184.3 152.4 727.0 167.1 241.1 193.9 602.1 178.2 780.3 163.4 264.7 191.3 619.4

YoY actual changes +9.1% +10.0% +8.9% +0.5% +7.4% -0.4% -1.2% -0.2% -0.7% +7.0% +1.0% -2.2% +9.8% -1.3% +2.9%

YoY changes on a constant currencies basis* -0.2% +1.1% +4.0% +2.9% +1.9% +8.0% +4.0% +2.2% +4.5% +6.3% +4.9% -5.1% +8.3% +1.2% +2.3%

YoY changes on a comparative basis* +9.1% +2.6% +3.1%

IFO 19.8 40.7 19.2 4.0 83.7 8.6 41.6 7.6 57.8 10.1 67.9 0.4 36.2 6.9 43.5

Normalized IFO* 21.3 39.9 19.2 3.1 83.4 8.6 43.4 7.7 59.7 10.4 70.1 5.9 42.3 6.9 55.1

IFO margin 12.6% 17.5% 10.4% 2.6% 11.5% 5.2% 17.3% 3.9% 9.6% 5.7% 8.7% 0.3% 13.7% 3.6% 7.0%

Normalized IFO margin* 13.6% 17.1% 10.4% 2.0% 11.5% 5.2% 18.0% 4.0% 9.9% 5.8% 9.0% 3.6% 16.0% 3.6% 8.9%

*See glossary

108
 LIGHTERS

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 163.5 178.4 158.8 175.0 675.7 163.6 177.2 167.6 508.5 187.9 696.4 171.3 185.5 157.9 514.8

YoY actual changes +22.3% +22.4% +10.6% +10.3% +16.2% +0.1% -0.7% +5.6% +1.5% +7.4% +3.1% +4.7% +4.7% -5.8% +1.2%

YoY changes on a constant currency basis* +9.7% +9.3% +5.2% +8.9% +8.3% +5.4% +5.4% +6.5% +5.7% +5.2% +5.6% -0.5% +2.0% -2.3% -0.2%

YoY changes on a comparative basis* -1.7% 0.0%

IFO 61.0 75.6 63.2 61.1 260.9 62.1 70.6 68.9 201.6 73.7 275.3 63.9 77.3 64.5 205.7

Normalized IFO* 61.4 74.2 63.2 59.0 257.9 62.1 71.7 70.0 203.8 73.5 277.3 64.1 77.3 64.6 206.0

IFO margin 37.3% 42.3% 39.8% 34.9% 38.6% 38.0% 39.8% 41.1% 39.6% 39.2% 39.5% 37.3% 41.7% 40.8% 40.0%

Normalized IFO margin* 37.6% 41.6% 39.8% 33.7% 38.2% 38.0% 40.5% 41.7% 40.1% 39.1% 39.8% 37.4% 41.7% 40.9% 40.0%

*See glossary

109
 SHAVERS

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 112.4 117.8 113.0 108.8 452.0 117.8 120.1 111.8 349.7 117.3 467.0 114.4 122.0 102.9 339.3

YoY actual changes +26.5% +20.0% +15.4% +14.5% +18.9% +4.8% +2.0% -1.1% +1.9% +7.8% +3.3% -2.9% +1.6% -7.9% -3.0%

YoY changes on a constant currency basis* +14.7% +9.5% +10.3% +13.3% +11.9% +10.9% +9.0% +1.4% +7.1% +6.6% +7.0% -7.7% -0.9% -5.1% -4.5%

IFO 21.4 23.4 19.2 19.4 83.3 12.6 15.4 22.2 50.2 18.4 68.6 14.3 17.2 14.1 45.6

Normalized IFO* 23.9 22.5 19.2 18.0 83.6 12.6 16.6 22.2 51.4 18.2 69.6 14.4 17.2 14.2 45.8

IFO margin 19.0% 19.8% 17.0% 17.8% 18.4% 10.7% 12.8% 19.8% 14.4% 15.7% 14.7% 12.5% 14.1% 13.7% 13.5%

Normalized IFO margin* 21.3% 19.1% 17.0% 16.5% 18.5% 10.7% 13.8% 19.8% 14.7% 15.5% 14.9% 12.6% 14.1% 13.8% 13.5%

*See glossary

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 OTHER PRODUCT

Excluding BIC Graphic North America and Asia sourcing (IFRS 5)

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 16.8 22.3 13.9 14.6 67.6 20.8 23.8 17.2 61.8 20.3 82.1 20.1 21.4 13.7 55.2

YoY actual changes +4.1% +16.8% -8.9% +0.2% +3.9% -14.0% -14.8% -9.5% -13.1% -6.8% -11.6% -3.2% -10.2% -20.4% -10.7%

YoY changes on a constant currency basis* +1.6% +8.5% -10.9% -0.1% -0.5% -13.0% -13.4% -8.9% -12.1% -6.8% -10.8% -4.2% -10.7% -19.8% -11.0%

YoY changes on a comparative basis* -10.0% -5.0% -6.7%

IFO* -0.5 4.9 -1.8 -3.8 -1.2 -1.9 0.3 -2.4 -4.1 -4.4 -8.4 -4.3 -10.1 -2.2 -16.6

Normalized IFO* -0.7 2.9 -1.8 -3.8 -3.4 -1.9 0.4 -2.4 -3.9 -3.9 -7.8 -3.0 1.3 -2.2 -4.0

*See glossary

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MISCELLANEOUS

Capital evolution:
As of September 30, 2017, the total number of issued shares of SOCIÉTÉ BIC
was 47,595,062 shares, representing:
• 69,044,905 voting rights,
• 67,739,504 voting rights excluding shares without voting rights.

Total treasury shares at the end of September 2017: 1,305,401.

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GLOSSARY - MISCELLANEOUS

Third quarter and First nine months 2016 and 2017 results are accounted for and presented in accordance with IFRS 5; BIC Graphic is no longer
considered as a separate category or reporting segment. BIC Graphic Europe reports to European BIC Consumer Product management. In
Developing Markets, BIC Graphic operations report to their respective country's Consumer Product management. On June 30, 2017, BIC Graphic
North America and Asian Sourcing operations were sold to H.I.G. Capital.

On a constant currency basis

• Constant currency figures are calculated by translating the current year figures at prior-year monthly average exchange rates
Comparative basis
• On a constant currency basis and constant perimeter
Normalized IFO
• Normalized means excluding non-recurring items
Normalized IFO margin
• Normalized IFO as a percentage of net sales
Net cash from operating activities
• Principal revenue-generating activities of the entity and other activities that are not investing or financing activities
Net cash position
• Cash and cash equivalents + Other current financial assets - Current borrowings - Non-current borrowings.

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DISCLAIMER

This document contains forward-looking statements. Although BIC believes

its estimates are based on reasonable assumptions, these statements
are subject to numerous risks and uncertainties.

A description of the risks borne by BIC appears in section “Risks Factors”

of BIC “Registration Document” filed with the French financial markets authority
(AMF) on March 22, 2017.

114
 2018 AGENDA

Full Year 2017 results 14 February 2018 Meeting – BIC Headquarters

First Quarter 2017 results 25 April 2018 Conference call

2018 AGM 16 May 2018 Meeting – BIC Headquarters

First Half 2018 results 1st August 2018 Conference call

All dates to be confirmed

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