BIC - 2019 Universal Registration Document

COMMENTS ON THE YEAR

Operations and consolidated results

OPERATIONS AND CONSOLIDATED 5.1. RESULTS

THE GROUP IN 2019

2019 Key Events February

In February, BIC launched the “ BIC 2022-Invent the Future” transformation plan. The plan includes four strategic pillars to drive long-term profitable sales growth: effectiveness, innovation, consumer-centricity, and omnichannel distribution. To better address current challenges, an Executive Committee has been created to set the Group’s long-term ambition and implement BIC’s strategy through greater accountability and expertise while fostering cross-function collaboration. On March 11, BIC officially inaugurated its East Africa Facility in Kasarani, Nairobi. This new venture comes as BIC transferred its manufacturing in Kenya and distribution in the East African region fromHACO Industries Kenya Ltd. After forty years of presence through a local distributor, BIC established its subsidiary to implement its proximity strategy and expand its brand presence. On June 6, BIC entered the second phase of the “BIC 2022 – Invent the Future” transformation plan, which focused on creating the right structures to enhance our global efficiency further and to sustain growth throughout our business. This phase should generate approximately 25 million euros annualized savings by the end of 2022, in addition to the 20 million euros announced in February. On July 30, SOCIÉTÉ BIC filed a complaint with the European Ombudsman claiming maladministration by the European Commission of the infringement procedure initiated in 2010 against the Netherlands due to their lack of actions to impose lighter safety standards compliance. In its complaint of 30 July to the Ombudsman, SOCIÉTÉ BIC notably pointed out the unreasonable delay in processing the file by the European Commission. On October 23, 2019, BIC completed the acquisition of Lucky Stationery in Nigeria (LSNL), Nigeria #1Writing Instrument manufacturer. This acquisition is consistent with BIC’s continued growth strategy in Africa.

March

June

July

October

Full Year 2019 Net Sales were 1,949.4 million euros, flat as dollar against the euro. Europe grew by 2.3% while North America reported, down 1.9% on a comparative basis. The favorable impact declined by 4.1%, and Developing Markets declined by 3.1%, all on a of currency fluctuations (+2.3%) was mainly due to the strong U.S. comparative basis.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •