BIC - 2019 Universal Registration Document

GROUP PRESENTATION, PERSPECTIVES, AND STRATEGY

2020 and long-term perspectives

2020 AND LONG-TERM PERSPECTIVES 1.4.

2020 OPERATIONAL OUTLOOK

Consumer-centric Brands: engage directly with 20% of our ● consumers; Omnichannel Distribution: reach 10% of Net Sales in ecommerce. ●

In the context of the escalating COVID-19 outbreak, the health and safety of BIC’s team members, customers, suppliers, and consumers remain an absolute priority, and the Group supports all the preventive governmental decisions implemented to fight the pandemic. With respects to the economic and financial risks associated with the outbreak, the Group could be potentially exposed in several ways, such as: Disruption in BIC’s Global Supply Chain in the event of factory ● closures, as well as the discontinuation of the activity of some of our suppliers and subcontractors; Negative impact on Net Sales due to customers’ reduced ● activity or store closures, particularly in the Traditional and Convenience channels; Impacts on the cost base with significant deterioration of fixed ● cost absorption. BIC works closely with all its business partners to leverage its integrated business model, off-line and on-line distribution, and strong balance sheet to mitigate the situation and minimize the long-term financial impact of the epidemic. In this context, and although it is still too early to assess the full impact of the outbreak, the 2020 outlook and market assumptions communicated to the market on 12 February 2020 are suspended until further notice. STRATEGIC ANDOPERATIONAL TARGETS FOR "BIC 2022 – INVENT THE FUTURE" PLAN To support the “BIC 2022- Invent the future” transformation plan, BIC set operational targets: Effectiveness: achieve 45 million euros original annualized ● savings reinvested to drive growth; Innovation: increase the number of new patent submissions by ● 20% per year;

LONG-TERMAMBITION

Provide high quality, inventive and reliable products and ● solutions that are respectful of our environment, for everyone, everywhere; Create longterm value for all stakeholders: consumers, ● employees, local communities, customers, and shareholders; Drive profitable growth; ● Increase productivity while continuously investing in People, ● Research and Development, New Products, and Brands; Sustain total Shareholder remuneration through strong cash ● generation.

RISKS AND OPPORTUNITIES

We foresee the major challenges for 2020 to be: continued market decline; ● continued economic uncertainty; ● global geopolitical environment; ● foreign currency volatility; ● change 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 highest 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.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •