BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Estimated fair value of shares granted and impact on the income statement

Plans’ unit fair value (in euros)

Expense/(income) booked in income statement (in thousand euros)

December 31, 2019

Grant date

Main grant

Secondary grant

December 31, 2018

May 19, 2005

40.51

38.00

-

-

Dec. 14, 2005

48.09

45.10

-

-

Dec. 13, 2006

50.67

46.77

-

-

Dec. 11, 2007

44.99

40.71

-

-

Feb. 10, 2009

36.10

32.34

-

-

Feb. 16, 2010

47.17

N/A

-

-

Feb. 15, 2011

58.83

N/A

-

-

Feb. 14, 2012

64.81

N/A

-

-

Feb. 12, 2013

87.99

N/A

-

-

Feb. 11, 2014

76

N/A

-

-

Feb. 10, 2015

114

N/A

323

-

May 18, 2016

110

N/A

1,902

(3,104)

Feb. 10, 2017

109

N/A

2,427

(5,497)

May 16, 2018

77

N/A

2,067

543

Feb. 12, 2019

81.14

 N/A

-

 2,058  

TOTAL

6,718

(5,999)

The fair value of the free shares is the share price at the grant date adjusted for the present value of potential future dividends.

Free share allocations without performance conditions From 2012, as recommended by the Compensation and Nomination Committee, the Board of Directors decided to set up a policy of free share grants without performance conditions, to replace the stock option programs rewarding staff selected by Management and key contributors during the year. 23-2

For plans nos. F1, F2, F3, F4, F5, F6, F7 & F8 the shares are delivered by SOCIÉTÉ BIC at the definitive grant date, whether the beneficiaries are French or foreign country tax residents. French tax residents must hold the shares for an additional period of two years for Plans F1 to F4. From Plan F5, this holding period has been eliminated. These plans provide for the allocation of existing shares.

Plan No. F1 Plan No. F2 Plan No. F3 Plan No. F4 Plan No. F5 Plan No. F6 Plan No. F7 Plan No. F8

May 12, 2010 Feb. 14, 2012

May 12, 2010 Feb. 12, 2013

May 15, 2013 Feb. 11, 2014

May 15, 2013 Feb. 10, 2015

May 18, 2016 May 18, 2016

May 18, 2016 Feb. 10, 2017

May 16, 2018 May 16, 2018

May 16, 2018 February 12, 2019

Annual Shareholders’ Meeting date

Board of Directors’ Meeting date

Number of beneficiaries

223

233

243

258

258

271

244

239

Number of free shares granted

20,050 19,950 19,700 21,700 20,750 17,100 30,500 17,550

Feb. 14, 2016

Feb. 12, 2017

Feb. 11, 2018

Feb. 10, 2019

May 18, 2020

March 31, 2020

May 16, 2021

March 31, 2022

Definitive grant date

Number of free share grants definitively acquired at December 31, 2019 Total number of free share grants void at December 31, 2019 (a) Total number of free share grants still vesting at December 31, 2019

16,600 16,250 14,150 14,650

-

-

-

-

3,450

3,700

5,550

7,050

2,450

350

500

100

-

-

-

-

18,300 16,750 30,000 17,450

These free share grants were void due to beneficiaries leaving the Company. (a)

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •