BIC - 2020 Universal Registration Document

CORPORATE GOVERNANCE

Corporate Officers’ remuneration

STRUCTURE OF THE TARGET VARIABLE REMUNERATIONOF GONZALVE BICH IN 2020

25% Group Net sales

30% Personal Objectives

44% Fixed Income

56% Target Bonus

25% Normalized income from operations

20% GroupWorking Capital

AMOUNT OF THE ACTUAL VARIABLE REMUNERATIONOF GONZALVE BICH FOR 2020

Target as % of Base remuneration 125%

Gonzalve Bich

2020 variable as a % of base remuneration

Actual 2020 variable paid, as a % of the base remuneration

Index of achievement of 2020 objectives

Weight of criteria

Minimum (index 80)

Target (index 100)

Maximum (index 116.7)

Payout of criteria

Criteria

Group Net Sales

25%

12.5%

31.3% 46.9%

94.9% 84.8%

26.5%

Normalized Income from Operations

25%

12.5%

31.3% 46.9%

90.2% 70.5%

22.0%

Group Working Capital

20%

10.0%

25.0% 37.5%

90.7% 72.1%

18.0%

Personal Objectives

30%

15.0%

37.5% 56.3%

100.0% 100.0%

37.5%

TOTAL

100%

50.0%

125.0% 187.5%

83.3 %

104.1%

Guidance was suspended in March 2020 due to the pandemic and related Covid-19 crisis. The financial objectives were reviewed by the Board regularly during the year as the crisis evolved and set by the Board of Directors during the second half of the year. These adjusted targets have been applied consistently for all team members eligible for the Corporate variable remuneration plan. In accordance with the 2020 Remuneration policy, the targets set for each objective were: Net Sales: 1,750 million euros; ● Normalized IFO: 262.5 million euros; ● average Working Capital, expressed as a percentage of Net ● Sales: 42% (this objective was not modified in H2 and remained as set at beginning of performance year). Achievement versus each objective is described in table above. The personal objectives represent 30% of the target variable remuneration and a maximum of 56.25% of the fixed remuneration. For 2020, in addition to the above mentioned financial objectives, the personal objectives will be paid at 100% of target, as recommended by the Nominations, Governance, and CSR Committee and approved by the Board on February 16, 2021, based on achievement described below versus the individual objectives: set the strategy. Established a clear and compelling Horizon ● Plan in collaboration with the Board that is understood by the

organization and key stakeholders. It repositions the Brand, organization and operational initiatives in the context of Sustainable Development and other relevant macro topics of importance and was presented to investor community in 2020; continue to raise the bar for talent. Leadership initiatives ● elevated performance bar and improved experience-sets, capabilities and diversity of the executive team and the organization more broadly. The newly formalized Executive Committee has been finalized with the appointment of a new Chief Financial Officer and a new Chief Human Resources Officer. BIC has been recognized among the Top 20 French companies for gender equality in governing bodies by the Ministry of Female and Male equality; focus on Growth. Despite the crisis situation, a continuous ● focus on important growth initiatives enabled the mobilization of the key assets of the Company (human, financial, organizational) toward key customers, regional programs and initiatives, and new business development. This resulted in regional and major market-specific growth and transformation initiatives in line with Horizon plans through a renewed engagement with top global customers. In addition, two in-organic growth initiatives have been achieved with the acquisition of Djeep in France and Rocketbook in the United States;

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• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •