BIC - 2019 Universal Registration Document

COMMENTS ON THE YEAR

Investments

PRINCIPAL INVESTMENTS IN 2019

In the Lighter category, we invested in increasing capacities; we bought new machines and molds to improve quality and productivity and invested in sustainable development. In the Shaver category, major investments included: investments related to New Products; ● increase in production capacities for Shaver production ● (worldwide);

2019 Capex were 113.6 million euros. In the Stationery category, major investments included: new plant investments mainly Samer in France, Bizerte in ● Tunisia, and Kenya; additional production capacity for Cristal in Marne-La-Vallée ● (France), Bizerte and Mexico; additional production capacity for the Correction Tape in ● Mexico; additional production capacity for 4-Color™ in ● Marne-La-Vallée.

PRINCIPAL INVESTMENTS IN PROGRESS: GEOGRAPHIC DISTRIBUTION AND FINANCING METHODS

Not applicable.

PRINCIPAL FUTURE INVESTMENTS

Not applicable.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •