BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

SHARE CAPITAL NOTE 15

Share capital 15-1

Dec. 31, 2016

Dec. 31, 2017

(in thousand euros)

Authorized, issued and fully paid share capital

181,649

178,126

Repurchase of shares of the Company

(3,316)

(2,985)

SHARE CAPITAL

178,333

175,141

As of December 31, 2017, the registered share capital of SOCIÉTÉ BIC was 178,126,244.74 euros divided into 46,629,907 shares of 3.82 euros each. Registered shares held for more than two years carry double voting rights. In addition, SOCIÉTÉ BIC holds 781,495 treasury shares, acquired at an average price of 85.26 euros in accordance with Article L. 225-209 of the French Commercial Code, which represent 1.67 % of the share capital. The share capital breakdown is shown in section 6-3 Shareholding.

SOCIÉTÉ BIC shares held in treasury stock and share repurchase program 15-2 as of December 31, 2017

Number of shares

Average acquisition price (in euros)

% of the share capital

Purpose of the repurchase

Liquidity agreement  (a)

11,288

92.02 85.16 85.26

0.02% 1.65% 1.67%

Free share grants  (a)

770,207 781,495

TOTAL

Article L. 225-209 of the French Commercial Code. (a)

In accordance with the liquidity agreement with Natixis in respect of SOCIÉTÉ BIC shares, as of December 31, 2017, the liquidity account contained the following:

At initial set-up, the liquidity account contained the following: 2,312 BIC shares; ● 912,744.48 euros. ●

11,288 BIC shares; ● 2,509,029.10 euros. ●

SOCIÉTÉ BIC obtained authorization from the Annual Shareholders’ Meeting on May 10, 2017, to renew its share repurchase program.

Number of shares purchased in 2017 (b) Share repurchase program authorized by the Annual Shareholders’ Meeting held on May 10, 2017 • Share repurchase program authorized by the Annual Shareholders’ Meeting held on May 18, 2016 •

880,277 115,577

Average share repurchase price for the purchases during 2017 (in euros)

97.54

Excluding shares repurchased under the liquidity contract. (b)

During the 2017 fiscal year, SOCIÉTÉ BIC cancelled 995,854 shares. To the best of the Company’s knowledge, as of December 31, 2017, Shareholders holding more than 5%, 10%, 15%, 20%, 25%, 33.33%, 50%, 66.66%, 90% or 95% of the share capital and/or of the voting rights of the Company were as follows:

At December 31, 2017

% of shares (approx.)

% of voting rights (approx.)

SOCIÉTÉ M.B.D.

27.25% 16.86%

37.23% 22.91%

Bich family

193

BIC GROUP - 2017 REGISTRATION DOCUMENT