2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

23-2

Free share allocations with performance

Beneficiaries who were foreign tax resident had the shares delivered at the conclusion of a three-year period following the definitive vesting date. The 2016 plan (Plan 12) is the last outstanding plan in this format and will be delivered in March 2022. From Plan no. 8, compensation for dividends between the date of vesting and the actual date of delivery was handled through a cash compensation system. All performance share plan grants since May 2017 (Plan 13) have been granted SOCIETE BIC and shares are delivered to all beneficiaries at the end of the vesting period (3-years, subject to performance conditions.

conditions From 2005 onwards, using the authorization granted by successive Annual Shareholders’ Meetings, the Board of Directors, upon the recommendation of the Compensation and Nomination Committee, implemented a policy of performance share awards, subject to three-year performance conditions. The shares to be delivered under these plans are existing shares. For plans awarded between 2010 and May 2016, shares are granted by SOCIÉTÉ BIC. For beneficiaries who were French tax resident, the shares were delivered at the definitive vesting date, subject to performance conditions.

Plan no. 14

Plan no. 15

Plan no. 16

Plan no. 17

Annual Shareholders’ Meeting date

May 16, 2018 May 16, 2018 May 20, 2020 May 20, 2020

Board of Directors’ Meeting date

May 16, 2018 February 12, 2019 February 11, 2020 February 16, 2021

Grant

M

M

M

M

Number of beneficiaries

499

497

501

158

Number of free shares granted

170,720

162,025

234,118

244,181

Definitive grant date

May 16, 2021 March 31, 2022 March 31, 2023 March 31, 2024

Number of share grants definitively acquired at December 31, 2021

58,434

-

-

-

Of which number of shares transferred or to be transferred to beneficiaries by: SOCIÉTÉ BIC •

-

-

-

-

BIC CORPORATION •

N/A

N/A

N/A

N/A

Delivery date of the shares by: SOCIÉTÉ BIC • French beneficiaries •

May 16, 2021 March 31, 2022 March 31, 2023 March 31, 2024 May 16, 2021 March 31, 2022 March 31, 2023 March 31, 2024

Foreign beneficiaries •

BIC CORPORATION •

N/A

N/A

N/A

N/A

Shares delivered by BIC CORPORATION as a compensation for dividends not received Shares to be delivered by BIC CORPORATION as a compensation for dividends not received

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Total number of free share grants void as of December 31, 2021 (a)

112,286

111,870

55,499

27,269

Total number of free share grants vesting as of December 31, 2021

-

50,155

178,619

216,912

These free share grants were void due to beneficiaries leaving the Company or to a part of the performance conditions not being achieved. (a) M = Main.

Estimated fair value of shares granted and impact on the income statement

Plan' unit fair value-binomial mode (in euros)

Expense/(income) booked in income statement (in thousand euros)

December 31, 2021

Grant date

Main grant

Secondary grant

December 31, 2020

May 16, 2018

77.00

N/A

1,088

789

Feb. 12, 2019

81.14

N/A

660

974

Feb. 11, 2020

58.30

N/A

3,034

2,839

Feb. 16, 2021

42.93

N/A

-

2,305

TOTAL

4,782

6,907

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

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• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •