BIC_REGISTRATION_DOCUMENT_2017

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)

Free share grant date

Main grant

Secondary grant

Dec. 31, 2016

Dec. 31, 2017

May 19, 2005 Dec. 14, 2005 Dec. 13, 2006 Dec. 11, 2007 Feb. 10, 2009 Feb. 16, 2010 Feb. 15, 2011 Feb. 14, 2012 Feb. 12, 2013 Feb. 11, 2014 Feb. 10, 2015 May 18, 2016 Feb. 10, 2017

40.51 48.09 50.67 44.99 36.10 47.17 58.83 64.81 87.99 77.82

38.00 45.10 46.77 40.71 32.34

- - - -

- - - - - - - - -

1

N/A N/A N/A N/A N/A N/A N/A N/A

- -

(15) 491

3,515 6,000 3,399

236 735

114.61 113.52 109.05

2,215 3,069 6,255

-

TOTAL

13,391

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

For plans nos. F1, F2, F3, F4, F5 and F6 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.

Free share allocations without 23-3 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.

Plan no. F1 Plan no. F2 Plan no. F3 Plan no. F4 Plan no. F5 Plan no. F6

Annual Shareholders’ Meeting date

May 12, 2010 May 12, 2010 May 15, 2013 May 15, 2013 May 18, 2016 May 18, 2016 Feb. 14, 2012 Feb. 12, 2013 Feb. 11, 2014 Feb. 10, 2015 May 18, 2016 Feb. 10, 2017

Board of Directors’ Meeting date

Number of beneficiaries

223

233

243

258

258

271

Number of free shares granted

20,050

19,950

19,700

21,700

20,750

17,100

Definitive grant date

Feb. 14, 2016 Feb. 12, 2017 Feb. 11, 2018 Feb. 10, 2019 May 18, 2020 Mar. 31, 2020

Number of free share grants definitively acquired at December 31, 2017 Total number of void free share grants at December 31, 2017  (a)

16,600

16,250

-

-

-

-

3,450

3,700

3,150

2,700

1,750

50

Total number of free share grants still vesting at December 31, 2017

-

-

16,550

19,000

19,000

17,050

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

212

BIC GROUP - 2017 REGISTRATION DOCUMENT