2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

23-3 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.All shares under these plans are delivered by SOCIÉTÉ BIC on the definitive vesting date, whether the beneficiaries are French or foreign country tax residents.

Free share allocations without performance conditions

In 2021, the Board of Directors has decided, on the recommendation of the Compensation Committee, to grant free shares, without performance conditions, to all Group employees worldwide. The shares granted under this plan will be delivered by Société BIC on the final vesting date and will relate to existing shares.These plans provide for the allocation of existing shares.

Plan no. F7

Plan no. F8

Plan no. F9

Plan no. F10 Sharing Horizon

Annual Shareholders’ Meeting date

May 16, 2018 May 16, 2018 May 20, 2020 May 20, 2020 May 19,2021

February 12, 2019

February 11, 2020

February 16, 2021

October 26, 2021

Board of Directors’ Meeting date

May 16, 2018

Number of beneficiaries

244

238

242

660

11 944

Number of free shares granted

30,500

17,550

30,613

137,322

59,720

October 26, 2023

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

18,350

-

-

170

-

12,100

4,250

3,338

13,567

-

50

13,300

27,275

123,585

59,720

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

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

Plans' unit fair value -binomial model (in euros)

Expense/(income) booked in income statement (in thousand euros) December 31, 2020 December 31, 2021

Grant date

May 18, 2016

109.85

(360)

-

Feb. 10, 2017

109.05

169

-

May 16, 2018

76.78

125

127

Feb. 12, 2019

81.14

306

319

Feb. 11, 2020

58.30

422

475

Feb. 16, 2021

42.93

-

1,315

October 26, 2021

46.72

-

227

TOTAL

663

2,463

As of December 31, 2021 , the total fair value of options and shares granted amounts to 10.4 million euros.

249

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •