2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Price adjustment & earn-out clauses Haco/ Rocketbook

Reclassi- fication of PSE Provision from LT to ST

Cash to be received from PIMACO sale

Price adjustment Djeep & Sibjet

Cash flows impact Operating

Cash flows impact Investing (a)

Foreign exchange and other

December 31, 2021

December 31, 2020

PIMACO disposal

(in thousand euros)

Net inventory

379,021 97,039

-

(715)

-

-

-

-

14,877

490,222

Inventory – Gross • value

394,319 97,269

-

(715)

-

-

-

-

15,278

506,151

Inventory – • Impairment

(15,298)

(230)

-

-

-

-

-

-

(401)

(15,930)

Trade and other receivables Trade and other payables

409,625 (1,181)

- (1,906)

-

-

912

-

10,736

418,186

(99,470) (41,242)

(6,094)

517

-

-

-

-

(2,864)

(149,154)

Other receivables and payables (b)

(231,182) (34,687)

-

(673)

1,645 3,000

-

(3,493)

(5,552)

(270,943)

NETWORKING CAPITAL

457,993 19,928 (6,094) (2,777) 488,311 Cash flows impact Investing includes capital additions cashed out in 2021 relating to 2020 and excludes 2021 capital additions not yet cashed out for a net amount of 6.1 million. (a) Other receivables and payables are composed of: (b) 1,645 3,000 912 (3,493) 17,197

December 31, 2021

Note

December 31, 2020

+ Other current assets

Asset

14,186

16,259

+ Other non-current assets

Asset

23,695

25,788

- Guarantee deposits

12

(4,265)

(3,519)

- Deferred pensions

12

(555)

(4,398)

- Other

(32)

(54)

- Other current liabilities

Liabilities

(251,504)

(292,154)

- Other non-current liabilities

Liabilities

(12,707)

(12,866)

TOTAL

(231,182)

(270,943)

The working capital is used to finance the Group’s operating cycle. Its composition is presented above.

NOTE 15

SHARE CAPITAL

15-1

Share capital

December 31, 2021

December 31, 2020

(in thousand euros)

Authorized, issued and fully paid-up share capital

173,412

170,670

Repurchase of shares of the Company

(1,603)

(1,004)

SHARE CAPITAL

171,809

169,665

In addition, SOCIÉTÉ BIC holds 262,906 treasury shares, acquired at an average price of 114.25 euros in accordance with Article L. 225-209 of the French Commercial Code, which represent 0.59% of the share capital. The share capital breakdown is shown in section 7-3 "Shareholding" of the Universal Registration Document.

As of December 31, 2021, the share capital of SOCIÉTÉ BIC was 170,669,688.78 euros divided into 44,677,929 shares of 3.82 euros each. Bearer shares held for more than two years carry double voting rights.

229

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •