BIC - 2018 Registration document

BOARD OF DIRECTORS' REPORT AND DRAFT RESOLUTIONS OF THE SHAREHOLDERS' MEETING OF MAY 22, 2019

Ordinary Shareholder's Meeting

Compensation elements and benefits of any type paid or granted for 2018

Amounts or accounting valuation submitted for approval (a)

Presentation

Non-competition benefits

N/A

Absence

Supplementary pension plan

No payment is due in respect of the fiscal year ended.

James DiPietro participates in the BIC CORPORATION Supplementary Executive Retirement Plan, a supplementary pension plan in the U.S. that has existed since 1970 and which benefits the main executives of BIC Corporation. The plan benefit is subject to having been a • participant in the plan for at least five years. Method for determining the pensionable • compensation. The pensionable compensation is the average • remuneration (base + bonus) of the best three years of the last five years of service. Rate of acquisition of rights: • This plan provides, by year of seniority, an • annual pension equal to 2.5% of the average pensionable compensation with a maximum of 50% (i.e. 20 years of service), including the pension granted by the U.S. Qualified Pension Plan; Full vesting in the Supplementary Executive • Retirement Plan occurs at age 52 with fifteen or more years of service or at age 60 with five years of participation. Full vesting in the U.S. Qualified Plan occurs at five years of service, The commitments arising from this plan are • recorded in BIC CORPORATION in accordance with IAS 19. Maximum payments: • Maximum of 50% (i.e., 20 years of service), • including the pension granted to the U.S. Qualified Pension Plan. Method of funding: • The Supplementary Executive Retirement Plan • is unfunded. However, BIC invests in life insurance policies to offset the cost of the plan. The U.S. Qualified Pension Plan is funded through a trust. Other expenses paid by the Company: • BIC pays the cost of administration, accounting • valuations under IAS 19 and actuarial valuations for the U.S. Qualified Pension Plan. As of December 31, 2018, James DiPietro had accrued a pension benefit equivalent to 50.00% of the average remuneration of the last three years of service out of his 20.5 years of service i.e., for information, an annual pension equal to 462,620 U.S. dollars (including the benefit from the U.S. Qualified Pension Plan) as a single life annuity payable at age 59 (incusive of the U.S. Qualified Pension Plan benefit), assuming he had stopped his activity on December 31, 2018. He has elected to receive his Supplementary Executive Retirement Plan benefit as a lump sum.

Amounts in U.S. dollars were converted into euros using the average exchange rate for 2018 (1 euro = 1.1810 U.S. dollars) (a)

300

• BIC GROUP - 2018 REGISTRATION DOCUMENT •