BIC - 2018 Registration document

COMMENTS ON THE YEAR

Prospects for 2019 and strategy

RISKS AND OPPORTUNITIES

PERFORMANCE GOALS Sales growth, market share gains, margins, cash flow and a strong balance sheet are the main indicators of the Group performance. In 2019, our priority is to continue to drive sales growth through selected investments in R&D, Brand Support and CAPEX.

In brief, we foresee the major challenges for 2019 to be: continued economic uncertainty; ● global geopolitical environment; ● foreign currency volatility; ●

expected increase in raw material costs versus prior years. ● While many of these issues are outside of our control, we will make every effort to minimize the related risks in all aspects of our operations. We believe that our greatest opportunity for growth remains the strength of the BIC ® brand, combined with the diverse talents of our multinational workforce in more than 160 countries around the world. Our teams are delivering products and programs, including advertising and promotional support, that speak directly to today’s consumers in their local marketplaces, meeting their specific needs.

RECENT EVENTS

Not applicable.

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• BIC GROUP - 2018 REGISTRATION DOCUMENT •