Group Presentation for Investors Nine months 2017

27-APRIL-2016 Group and category highlights Nine months 2017 GROUP 9M 2017 SUMMARY

Good performance in Europe across our 3 categories Unprecedent market disruption in the U.S. wet shave category Net sales Customers’ inventory reductions in U.S. Lighters Developing markets’ softness due mostly to Brazil

Decline in Normalized IFO margin Normalized • Increased cost of production IFO margin • Sustained Brand Support investment • Higher OPEX

Net Cash Sustained cash generation Position

3 GROUP 9M 2017 KEY FIGURES

Net Sales: 1,528.7 million euros

+0.4% +4.5% EUROPE

-0.7% -0.1% -3.9% NORTH AMERICA

DEVELOPING As reported Constant comparative +0.8% currency basis** MARKETS basis*

Normalized* Income from Operations: 302.9 million euros

20.4% 21.0% 19.8%

9M 2016 NIFO margin 9M 2016 NIFO margin 9M 2017 NIFO margin excluding special bonus * See glossary ** During the first nine months of 2017, certain BIC Graphic operations in Developing Markets without a sustainable business model, were stopped. 4 GROUP 9M 2017 KEY FIGURES

EPS (Group share): -11.6% Net Cash Position

In euros In million euros 222.2 4.55 208.1 4.02 181.6

9M 2016 9M 2017 September 16 Dec. 16 September 17

5 STATIONERY MARKET EVOLUTION

% change vs YAG – value USA September 2017 E-commerce 8%

Office supply Food & Drug** 8% 25%

Brick & Mortar* 60%

+19.8%

-1.4% -1.4% -0.3% -4.4%

E-commerce Food & Drug** Brick & Mortar* Office supply Total

Sources: US = NPD/IRI year-to-date ending September 2017 * Brick & Mortar: Retail & Superstores, including Office Super Stores, Mass Merchandisers, Warehouse Clubs and Dollar Stores ** Food & Drug: other retail outlets and drugstores 6 BIC STATIONERY IN 9M 2017

Net Sales growth on a comparative basis* Normalized* IFO margin 9M 2017 Net Sales 18.0% 16.0% 10.5% +8.0% +9.1% €619.4M 9.9% 8.9% +4.5% 7.3% +4.0% +2.6% 4.0% +3.1% 5.2% 3.6% 9M 2017 NIFO +2.2% 3.6%

Q1 Q2 Q3 9M €55.1M -5.1% Q1 Q2 Q3 9M 2016 excl. 2016 special bonus 2017

9M NET SALES

Europe North America Developing Markets Mid-single-digit increase Low-single digit increase Latin America: leadership reinforced in Brazil / Successful Back-to-School sell-out and market share gains in Mexico Good back-to-school sell-out in all Market share gains during Back- European countries to-School Middle-East and Africa: strong growth (market share gains) Market share gains in France and Success of new product launches Cello Pens: high-single-digit growth in Domestic Net Sales the UK

9M NORMALIZED IFO

Increased Brand Support investment

*See glossary 7 BIC LIGHTERS IN 9M 2017

9M 2017 Net Sales Net Sales growth on a comparative basis* Normalized* IFO margin 39.5% 41.7% 40.9% 40.6% 41.7% 40.1% 40.0% €514.8M 38.0% 37.4% 40.5% +5.4% +5.4% +6.5% +5.7% +2.0% 9M 2017 NIFO 0.0% €206.0M -0.5% -1.7% Q1 Q2 Q3 9M Q1 Q2 Q3 9M

2016 excl. 2016 special bonus 2017 9M NET SALES

Europe North America Developing Markets Mid-single-digit growth Stable net sales Mid-single-digit decline Very dynamic trends in Eastern Europe (distribution Through mid-September 2017, stable market share Retailers reducing their inventories in Brazil gains) (in value terms) in a slightly growing market Q3 sell-in affected by several customer reducing their inventories 9M NORMALIZED IFO

Higher costs of production Increase in operating expenses more than offset by lower Brand Support investment

*See glossary 8 SHAVER MARKET IN THE U.S.

YTD September 2016 FY 2016 YTD September 2017

-3.7% -4.0% -3.8% -4.6% -5.0% -5.8% -6.3%

Total -8.9%

Refillable

-12.4% One-piece

Source: CMR USA MULO (IRI) – % change in value – YTD September 2016 , YTD December 2016 and YTD September 2017 9 SHAVER MARKET AND BIC MARKET SHARE IN THE U.S. BY QUARTER

Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 3.0 2.6 2.6 2.2 1.9 1.9 2.0 1.4 1.2

1.0

0.0

-0.5 -0.4 -1.0

-1.5 -1.5 -1.5 -2.0 -2.1

-3.0 -2.6 BIC Market Share change - YTD BIC Market Share change - 13 weeks Source: CMR USA MULO (IRI) – % change in value 10 BIC SHAVERS IN 9M 2017

9M 2017 Net Sales Net Sales growth on a constant currency basis* Normalized* IFO margin 19.8% 15.4% 12.9% 14.1% 14.7% +10.9% 13.8% 13.8% 13.5% €339.3M +9.0% 12.6% +7.1% 10.7% +1.4% 9M 2017 NIFO -0.9% -5.1% -4.5% €45.8M -7.7% Q1 Q2 Q3 9M

Q1 Q2 Q3 9M 2016 excl. 2016 special bonus 2017 9M NET SALES

Europe North America Developing Markets High-single digit growth Double-digit decline Low-single-digit increase Market share gains across Europe Market heavily disrupted Latin America: mid-single digit growth Good performance driven by Eastern Europe Market share gains in the 5-blade men’s one- inventory reduction in Brazil during Q3, piece segment with 36.8%1 market share pricing pressure and a highly competitive environment in Mexico 9M NORMALIZED IFO Middle-East and Africa: stable Net Sales

North American Net Sales and higher operating costs

*See glossary 1/ Source: IRI total market YTD ending 01-OCT-2017 – in value terms 11 9M 2017 Consolidated results 9M 2017: FROM NET SALES TO NORMALIZED IFO

Change on a Change as comparative BIC Group In million euros 9M 2016 9M 2017 reported basis*

Net Sales 1,522.0 1,528.7 +0.4% -0.1%

Gross Profit 792.4 785.4 -0.9%

Normalized* IFO 311.0 302.9 -2.6%

Income 305.5 278.2 -8.9% from Operations

*See glossary 13 Q3 2017 NET SALES EVOLUTION

In million euros FX translation impact BRL: -1 M€ USD: -9M€ ARS: -1 M€ GBP : -1 M€ Others: -2 M€

-14 M€

-1.3% -0.9% -2.2% -2.8% -5.0% Change on a comparative Perimeter impact Change on a constant FX translation impact Change as reported basis currency basis

14 9M 2017 NET SALES EVOLUTION

In million euros FX translation impact +17 M€

BRL: +14 M€ USD: +2 M€ ZAR: +3 M€ RUB UAH: +3 M€ MXN: -2 M€ GBP : -3 M€ INR : +2 M€ ARS: -2 M€ +0.4% +1.1% -0.1% -0.6% -0.7%

Change on a comparative Perimeter impact Change on a constant FX translation impact Change as reported basis currency basis

15 KEY COMPONENTS OF Q3 2017 NORMALIZED* INCOME FROM OPERATIONS MARGIN

19.9% -1.9 -0.7 +0.6 17.9%

• Promotions and investments related to consumer and business development support accounted for in Gross Profit Margin : -1.3 • Advertising, consumer and trade support : +0.6

Q3 2016 Normalized* IFO margin Change in cost of production** Total brand support*** OPEX and other expenses Q3 2017 Normalized* IFO margin

*See glossary **Gross Profit margin excluding promotions and investments related to consumer and business development support. ***Total Brand Support: consumer and business development Support + advertising, consumer and trade support. 16 KEY COMPONENTS OF 9M 2017 NORMALIZED* INCOME FROM OPERATIONS MARGIN

21.0% -0.5 +0.6 -0.2 -0.5 20.4% 19.8%

• Promotions and • Impact on Gross Profit: +0.4 investments related to • Impact in OPEX : +0.2 consumer and business development support accounted for in Gross Profit Margin : -0.6 • Advertising, consumer and trade support : +0.4

9M 2016 Normalized* IFO Special employee bonus 9M 2016 Normalized* IFO Change in cost of Total brand support*** OPEX and other expenses 9M 2017 Normalized* IFO margin margin excluding special production** margin employee bonus

*See glossary **Gross Profit margin excluding promotions and investments related to consumer and business development support. ***Total Brand Support: consumer and business development Support + advertising, consumer and trade support. 17 9M 2017 FROM IFO TO GROUP NET INCOME

In million euros 9M 2016 9M 2017 IFO 305.5 278.2

Finance revenue/costs 1.7 -0.8

Income before Tax 307.3 277.4

Income tax 92.3 83.3 Effective tax rate 30.0% 30.0%

Net Income From Continuing Operations 215.0 194.1 Net Income From Discontinued -1.3 -6.7 Operations* Net Income Group share 213.7 187.3

Number of shares outstanding net of treasury shares 46,955,299 46,635,853 EPS Group Share 4.55 4.02

*: Third quarter and Nine months 2016 and 2017 results are accounted for and presented in accordance with IFRS 5: BIC Graphic North America and Asia Sourcing Operations’ Assets and Liabilities are accounted for as ”Non-Current Assets Held For Sale” and “Discontinued Operations” since December 31, 2016.

18 BALANCE SHEET

BIC Group December September In million euros 2016 2017

Total Working Capital 642.2 607.5

Of which inventories 468.1 445.5

Of which Trade 483.1 495.7 and other receivables

Of which Trade 118.7 120.1 and other payables

Inventories in days Receivables in days

181 73 164 166 69 66

September 2016 December 2016 September 2017 September 2016 December 2016 September 2017

19 NET CASH POSITION

In million euros

Operations

+275.4 -3.3 -133.2

-161.0

222.2 -21.2 -53.0 55.7 181.6

Net Cash From Operating activities +272.1 M€

December 2016 Net Operating cash flow Change in working CAPEX Dividend payment Share buyback, Proceeds from sale of Others September 2017 Net Cash Position capital and others exercise of stock BIC Graphic North Cash Position options and liquidity America and Asian contract Sourcing*

*Excluding 8.8 million euros of subordinated loan 20 2016 - 2017 Paving the Way for Future Profitable Growth STATIONERY 2016 MARKET SHARE

Canada (N°2) India – CELLO (N°1) 24.1% - Flat 25.4% Widen gap vs. N°2

USA (N°2) Western Europe (N°1) 18.3% - Flat 14.3% - Flat Gain in France & Germany

Mexico (N°2) 35.4% - Flat

South40.4% Africa (N°1) Australia (N°2) Highest Market Share to 28.2% - Down Brazil (N°1) Date 53.9% Best Market Share gain

Source: EU7 GFK DEC-2016. / US NPD/IRI NOV-2016 / CAN. Nielsen DEC-2016 / MEX. Nielsen SEP-2016 / BRA. Nielsen OCT-2016 / SAF. Nielsen NOV-2016 / AUS. Aztec NOV-2016 / IND. Market Pulse NOV-2016 22 STATIONERY A SOLID 2016 PERFORMANCE DRIVEN BY SUCCESSFUL NEW PRODUCT INTRODUCTIONS…

New Products as % of Sales Cristal’UP 4 Colours Atlantis 27% 23% 25%

2010 2015 2016

Champion Brands as % of Sales

45% 46% 36%

2010 2015 2016

23 STATIONERY … AND ENHANCED BY INNOVATIVE MARKETING INITIATIVES

Classic Advertising Digital Social Media

TV CAMPAIGN IN EUROPE BIC KIDS DRAWYBOOK IN EUROPE EVOLUTION GRAPHITE PENCIL VIRAL DIGITAL AD IN LATIN AMERICA

+16% sell-out App Generated over 120K downloads 5.1M views and ranked #1 under Kid’s category in App Store and Google Play

55.1K likes

24 STATIONERY 2017 NEW PRODUCTS

Continue to build on our Champion Brands

BIC Gel-ocity Quick Dry BIC 4 Color 3+1HB BIC Atlantis X-Smooth Innovative fast drying gel ink Extend the 4 Color range with Improved ink smoothness 1 Mechanical Pencil + 3 ball pen on premium Atlantis Ball Pens cartridges

BIC Gel-ocity Illusion BIC Velocity Max BIC Intensity Fine Erasable gel to meet growing The thickest eraser and clear body Enter Fine Writing Felt Pen consumer demand with an ultra comfortable grip with an attractive offer

25 LIGHTERS FOCUS ON ADDED-VALUE PRODUCTS AND INCREASED DISTRIBUTION

BIC® Lighters Net Sales Growth Increase distribution

Sleeves: 21% of total Lighters sales in 2016

Sleeves CAGR: +10.7%

Total Lighters CAGR: +6.9% Continue to reinforce distribution, notably in Latin America and Eastern Europe 2012 2013 2014 2015 2016

26 LIGHTERS 2017 NEW SLEEVES

Europe North America

Latin America MEA - Asia - Pacific

27 SHAVERS RECENT MARKET TRENDS & BIC PERFORMANCE

% of Value-added Products in total sales

+ 5.0%

61% 62% 49% - 5.0%

Europe North America Latin America

One-Piece Segment YonY performance BIC YonY Performance 2011 2015 2016

Source: Nielsen/IRI / Europe= 16 countries (YTD June 2016) / NAM= USA (YTD December 2016) / LAM= BRA (YTD December 2016) 28 SHAVERS THE U.S. MARKET IN 2016

On-line Players Off-line Market Sales 2.3%

-1.9%

-4.2% -4.6% -5.0% -6.1% 2015 2016

Total Refillable One-piece

Source: IRI MULO – YTD December 2015 & December 2016 29 SHAVERS BIC’S 2016 PERFORMANCE IN THE U.S.

+1.4 pt Market Share

28%

27% Volume brand in the one-piece segment

25%

2014 2015 2016

30 SHAVERS BIC’S 2016 PERFORMANCE IN EASTERN EUROPE - RUSSIA

+2.0 pts Market Share +15 pts of distribution

(numerical distribution - male segment)

60%

14% 45% 12% 11% 10% 28%

2013 2014 2015 YTD Oct. 2016 2014 2015 YTD Oct. 2016

Source: RUSSIA Nielsen data YTD OCT 16 31 SHAVERS BIC’S 2016 PERFORMANCE IN LATIN AMERICA - BRAZIL

+1.0 pt Market Share +18 pts household´s penetration

32% 29% 27% 17% 16% 16%

2014 2015 YTD June MAT June MAT June MAT June 2016 2014 2015 2016

Source: BRAZIL Nielsen data YTD JUN 16 & Kantar Worldpanel – Penetration: MAT JUN 2013 a MAT JUN 2016 32 SHAVERS 2017 NEW PRODUCT – U.S.

Continue the trade up strategy and bring back consumers into retail with BIC Flex 5 Hybrid

Our successful Value for Money Hybrid offer: 1 handle + 4 heads

Our best shaving performance: 5 flexible blades, heavy ergonomic handle with balancing sphere, precision edging blade for ultimate shaving performance

Price comparison – index 100

Main Competitor Offline 232

Main Competitor Online 113

BIC Flex 5 Hybrid 100

Source: Offline Walmart in store price per unit DEC 16 // Online advertised price per unit 33 SHAVERS 2017 NEW PRODUCT – LATAM & EASTERN EUROPE

Continue the trade up strategy within our BIC franchise with the launch of two premium offerings

BIC’s successful Flex franchise BIC’s successful Soleil franchise

3 moveable blades 3 blades with protective comfort shield to reduce irritations Ergonomic heavy handle Ergonomic handle adapted to women BIC’s best shave at a BIC price! BIC’s best shave at a BIC price!

Price comparison – index 100 Price comparison – index 100

Competitor 1 111 Competitor 1 125

Bic Flex 3 100 Bic Soleil Sensitive 100

34 SHAVERS 2017 NEW PRODUCT – WESTERN EUROPE

Direct-to-Consumer Subscription Offer

Men Refillable

Value Positioning

Launch: Spring 2017

An innovative on-line offer tested in France

35 2017 GROUP OUTLOOK

Net Sales Organic Growth is expected to be slightly below 2%.

At this sales growth level, 2017 Normalized Income from Operations margin decline should be less than 100 basis points.

36 LONG-TERM STRATEGIC PRIORITIES

Continue to create long-term value Grow Normalized Income From Maintain strong cash generation to: by outperforming our markets Operations through increased Continue to grow the business and growing sales organically productivity as we invest organically low to mid-single digit thanks to: in our people and Brand Expanded distribution networks Support and in Research Finance strategic bolt-on in all geographies & Development with a focus acquisitions on quality and innovative new Increased focus on value-added Sustain total Shareholders’ segments in Developed markets products remuneration Enlarged consumer base in Developing markets

We offer simple, inventive and reliable choices to everyone, everywhere, every time

37 Group overview HISTORY AT A GLANCE

1950 …Marcel Bich launches the BIC® Cristal, the first high quality ballpoint pen at an affordable price

1954 …The Group starts its international expansion in Europe (Italy, UK, …), Latin America (Brazil) and North America (USA)

1969 …First step in Advertising & Promotional Writing Instrument (BIC graphic)

1973 First BIC® lighter

1975 First BIC® one piece shaver

Since the beginning, on-going product development (correction, luxury fountain pen, school fountain pen, imprinted promotional bags, …) and geographical expansion (Latin America, Eastern and Central Europe, …)

39 A BALANCED PORTFOLIO OF ACTIVITIES

FY 2016 sales breakdown by category* 3% 3% 36%

23%

35% *Restated from IFRS 5 “Discontinued operations” following the envisaged disposal of BIC Graphic North America and Asia sourcing 40 INTERNATIONAL FOOTPRINT

FY 2016 sales breakdown by geography* History

1950: France DEVELOPING EUROPE MARKETS 27% 1954: Italy 33% 1956: Brazil 1957: “Sterling” zone (UK, Australia…) 1958: USA, Africa, Middle East 1959: Scandinavian countries 1965: Japan, Mexico 1995: Eastern and Central Europe 1997: Expansion in Asia NORTH AMERICA 2009: India (Cello) 40%

*Restated from IFRS 5 “Discontinued operations” following the envisaged disposal of BIC Graphic North America and Asia sourcing 41 CAPITAL OWNERSHIP (31-DEC-2016)

As of December 31, 2016, the total number of issued shares of SOCIÉTÉ BIC is 47,552,202 shares representing 69,098,170 voting rights.

1.8% TREASURY SHARES 43.2% BICH FAMILY (Voting rights: 59.2%)

55.0% PUBLIC

42 STRATEGIC ASSETS

Quality and Value product positioning

▪ A large and diversified product portfolio aimed at answering consumers’ needs

▪ Innovation: 12% of net sales through new products in 2016

▪ Recognized brands

▪ Historical international footprint - Present in more than 160 countries - More than 30% of 2016 net sales in developing countries

▪ An international, complete and solid distribution network

▪ On-going and sustained productivity improvement policy

▪ A solid balance sheet and a clear use of cash strategy

43 KEY STRENGTHS

Worldwide Balance Products Brand…S leadership Sheet

N°2 Simple Stationery cc.9% market share €119.8M Free Cash Reliable Flow generation***

N°1 Lighters Inventive cc. 50% market share** At the right Price €222.2M Net Cash N°2 Shavers Position at the end 22% market share* of 2016 of one-piece in USA and Europe

* One-piece shavers in major markets (US, Europe, Latin America) ** Outside Asia ***Before acquisition and disposals 44 STRONG INTERNATIONAL BRANDS

BIC Stationery brand unaided awareness rate

92 91 94 86 84 74 79 60

France United Kingdom Italy United-States Canada Mexico Brazil Argentina

Source: 2015 Category Incidence Study 45 MANUFACTURING NETWORK

93%* of the BIC® consumer products are produced in BIC owned factories

*Excluding BIC Graphic Developing Markets and Europe 46 BIC IN 2016 OPERATIONAL PERFORMANCE

20.2% 19.7% 19.4% 19.3% 18.2% 18.7% 17.9% 17.4% 17.2% Normalized* 15.1% 15.3% IFO margin

5.9% 6.2% 4.6% 4.9% 3.6% 4.2% 3.3% 3.1% 2.8% 1.6% -0.6%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016**

Net Sales growth on a comparative basis *See glossary ** Excluding BIC Graphic North America and Asia sourcing 47 BIC IN 2016 CASH GENERATION

In million euros

297.2 263.6 239.4 221.9 225.7 204.6 203.6 194.4 179.1 185.4 186.7 167.5 147.8 145.7144.3 129.4 119.8 116.3 115.1 115.6108.8 119.8 99.4 99.5

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Free Cash Flow Free Cash Flow before acquisitions and disposals* after acquisitions and disposals* * See glossary 48 CAPEX

300 10.0%

8.9% 5.9% 6.6% 250 5.3% 5.7% 5.7% 5.4% 0.0% 3.4% 3.4% 4.9%

Other Development 200 ** -10.0% 181 Capex Capex* 18% 53%

150 -20.0% 125 121 107 112

100 89 -30.0% 77 83 63 53

50 -40.0%

Maintenance 0 -50.0% Capex 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 29% Total Capex to sales

*Capacity + new buildings and land + new products ** Including BIC Graphic North America and Asia Sourcing 49 USE OF NET CASH AND SHAREHOLDERS REMUNERATION

In million euros

117 298 264 58 239 205 15 226 74 179 182 185 53 160 91 85 49 121 51 31 146 13 129 116 120 25 1 135 99 58 64 68 122 65 101 104 72 80 82 49 65 40 26 17 42 26 2 8 2 8 10 14 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Business divestiture Share buyback Free cash flow* Ordinary dividend Exceptional dividend Acquisition

* Estimates based on 31-DEC-2016 number of shares outstanding excluding treasury shares 50 USE OF CASH (1/2)

181* million euros CAPEX 1 in 2016 Invest to prepare Bolt-on strategic Acquisitions the future acquisitions

2007 2009 2009 2009 2011 2013 2014 2015

Atchison APP Cello Pens Norwood Angstrom Cello Pens Cello Pens Cello Pens Products Promotional (Partnership) Promotional Fuel Cell Majority stake Majority stake Majority stake Promotional products Writing instruments products Canada of 55% of 75% of 100% products Europe India USA USA

* Including BIC Graphic North America and Asia Sourcing 51 USE OF CASH (2/2)

In euros Dividend per share Special Dividend

2 3.40 3.45 2.85 2.60 2.50 PAY-OUT RATIO 2.20 2.56 Ensure a steady 1.90 1.80 1.35 1.40 65% based 1.00 1.15 1.30 1.35 growth of the 0.90 1.00 on 2016 results ordinary dividend 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

In million euros 101.4 80.2 81.6 3 55.0 39.9 42.0 Special 25.7 26.3 Share 10.2 4 1.9 1.6 dividend buy-back 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD September 2017

52 2016 OPERATIONAL INVESTMENTS

79% increase in Development Main 2016 CAPEX by category CAPEX

Stationery Lighters Shavers Samer (FR) • Marne-La-Vallée (FR) Redon (FR) • Milford (USA) Manaus (BR) • Saltillo (MEX) Bizerte (TU) - Manaus (BR) Tarragona (SP) Athens (GR)

53 STATIONERY THE CONSUMER STATIONERY MARKET (1/3)

Total worldwide consumer stationery market = 8.6 billion Euros in 2015

Key geographical markets breakdown (in value) Breakdown by main segment (in value)

Others Correction India 6% 6% 4% Europe Coloring 26% 16%

Asia Pens 37% Marking 56% 17% Of which: North 23% Ball pens America 19% gel ink 18% Mechanical Latin pencils America 5% 9% All market shares are based on 2015 estimated suppliers net sales figures 55 THE CONSUMER STATIONERY MARKET (2/3)

10.0% Market trends by geographies (in value) Market growth (CAGR) 2015/2011

India Latin America

5.0%

North America Asia

Europe

0.0% BIC Estimates & Published Research Size in million euros 56 THE CONSUMER STATIONERY MARKET (3/3)

Total worldwide consumer stationery market = 8.6 billion Euros in 2015 Breakdown by main supplier (in value)

Schwan-Stabilo Others 1.8% Zebra 49.9% 2.0% Pentel 2.8% Crayola 3.5%

M&G (China) 4.4%

Faber Castle 4.4%

Mitsubishi 5.8% Newell 10.0% Pilot BIC* 6.2% 9.2%

BIC Estimate & Published Research – 2015 – Manufacturers figures – Pens, pencils, markers, coloring, correction * With Cello Pens 57 STATIONERY CONSUMER – BIC STRATEGY

Generate profitable growth through

Gaining market share in Developed countries (markets more or less flat) focusing on Champion Brands new products Accelerating sales growth in fast growing countries (markets up mid to high single digit) Developing geographical footprint Focus on giving “more for your money” to consumers through best quality at the right price Increased consumer-relevant innovation

58 STATIONERY CONSUMER: “QUALITY @ A BIC PRICE”

More than 3m outlets Historical Iconic worldwide* and close products relationship with the trade

Worldwide leadership Strong brands positions

Strong positions in major market segments Consumer trust for Innovation more than 50 years

* Outside Cello Pens 59 2010- 2016 BIC STATIONERY CONSUMER KEY FIGURES

FY 2016 FY 2016 €736.6M €67.5M Net Sales NIFO

Net sales change on a comparative basis Average Volume +7.0% +6.0% +1.0% +0.3% +4.0% +2.0% +1.5% +3.1% Value +6.7% +4.1% +2.6% +2.1% +4.2% +3.6% +5.2% +4.1%

15.0% 14.0% 12.1% 12.7% 12.5% 11.5% 12.4% 9.2%

2010 2011 2012 2013 2014 2015 2016 Normalized IFO margin 60 BIC® PRODUCT RETAIL PRICE POSITIONNING

Ball pen Retail prices in France In euros

4.45 €

2.53 € 2.24 € 1.98 € 1.63 € 1.46 €

0.73 € 0.32 € 0.36 € 0.41 €

Cristal medium Cristal Fashion Cristal like me M10 4 coulours Atlantis soft Cristal stylus Learner bell pen 4 colours 4 colours stylus Shine/Decor/Fluo

Source : PVC recommended, 2016, BIC France CP, France Modern Mass Market 61 STATIONERY CONSUMER BIC POSITIONS IN MAJOR MARKET SEGMENTS*

N°1 in Ball Pen N°1 in Mechanical N°1 in correction N°2 in marking (21% market share) Pencils (19% market share) (5% market share) (13% market share)

N°1 in N°1 in Latin Western N°2 in the U.S. America Europe (15% market (21% market (18% market share) share) share)

*BIC Estimates – 2015 (in value) 62 LIGHTERS THE POCKET LIGHTER MARKET VOLUMES VS. VALUE

Volumes: 13.8 billion units Value: 4.9 billion euros

World Excl. Asia 35% 44% 56% 65%

Asia

BIC estimates for 2015 – Retail prices 64 THE POCKET LIGHTER MARKET KEY PLAYERS OUTSIDE ASIA

Market shares in volume outside Asia Market shares in value outside Asia

Of which Of which Swedish Match: 6% Flamagas: 6% Flamagas: 6% Swedish Match: 5% Tokkai: 1% Tokkai: 2% Asian 13% manufacturers 18%

32% BIC

cc. 57% 30% Other branded Lighters

cc.50%

BIC estimates for 2015 – Retail prices 65 OVERVIEW OF MANDATORY SAFETY REGULATION AROUND THE WORLD

ISO: 1989 2000 CR: 1995 2006 2011 1994 2005 CR: 1992 ISO: 2004 ISO: 1997 CR: 2016 1998 2003

2010

2007

ISO 9994 1997 2003 Child resistant 2006 2003 1999 ISO 9994 and Child Resistant

66 LONG TERM VIEW OF SAFETY REGULATION IMPACT ON LIGHTER SALES

Latin North Africa Asia Europe America* America* ISO 9994 conform lighters

Low quality lighters

Matches

* Real enforcement of the regulation 67 BIC LIGHTER – STRATEGY

Strengthen our position as the only lighter brand with worldwide strengths

By promoting the extension and the total enforcement of international safety standards

By accelerating the development of value-added products (sleeves, cases and utility lighters)

68 BIC LIGHTER N°1 BRANDED LIGHTER MANUFACTURER

Market leadership - Estimated market shares (in value)

> 70% cc. 50% > 65%

< 30%

Worldwide* Europe North America Latin America

Safety – Quality – Prevention & education Integrated distribution network

Dedicated Customer Support Teams More than in all countries 50 automatic Largest distribution network vs. market quality controls average

* Excluding Asia 69 USAGE DIVERSIFICATION AND INCREASE IN THE NUMBER OF SMOKERS Usages (United Number of smokers States)

Cigarettes Developed markets -0.9% per year

Candles cc. 1/3 Developing markets of usages 1.1% per year Others «excluding cigarettes»

2013 2017e

Source : Disposable Pocket Lighters Awareness and Usage Study Source : Euromonitor – in thousand – 80 countries January 2015 – United States 70 2006 – 2016 BIC LIGHTER KEY FIGURES

FY 2016 FY 2016 €696.4M €277.3M Net Sales NIFO

Net sales change on a comparative basis Average Vol. -5.0% +3.0% +10.0% +8.0% +3.0% +3.8% +4.0% +5.0% +2.3% +3.8% Value +5.6% +3.7% +0.8% +5.3% +11.6% +8.6% +4.3% +7.0% +8.3% +8.3% +5.6% +6.3%

38.9% 38.2% 39.8% 35.7% 36.2% 37.4% 37.0% 37.7% 34.0% 32.5% 32.1% 29.2%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Normalized IFO margin 71 BIC® LIGHTERS SALES EVOLUTION IN THE U.S.

Continue to leverage all growth drivers

2009-2015 : +6% In value +2 +3 +1 +1 106 100 -1

2009 Cigarette Other Combustible Sleeves trade-up Distribution Gains Price 2015 Consumption Consumption

72 BIC® LIGHTER RETAIL PRICE POSITIONNING

1.88 € 1.83 €

$1.42 1.20 € 1.06 € 0.93 €

$0.49 0.40 € 0.26 €

Europe USA Brazil China (in euros) (in dollar) (in euros) (in euros)

BIC Other compliant lighter Non-compliant lighter Source: BIC (Reference J26 for Europe, USA, Brazil and J3 for China) Europe, USA, Brazil and China : 2016 data 73 BIC® LIGHTER RETAIL PRICE PER FLAME

Based Indice 1

2.1

1.4 1.4 1.3 1.3 1.0 1.0 1.0 1.0

Europe USA Brazil China

BIC Other compliant lighter Non-compliant lighter Source: BIC (Reference J26 for Europe, USA, Brazil and J3 for China) Europe, USA, Brazil and China : 2016 data 74 SHAVERS THE SHAVER MARKET (1/6)

Total wet shave market in 2016: 12.0 billion euros

DOUBLE EDGE 3%

ONE-PIECE 38%

REFILLABLE 59%

Source: Euromonitor + Industry publications 76 WET SHAVE MARKET – REGIONAL STRUCTURE

in value Disposable System

NAM WE EE 6% 6% 2% NAM WE 17% EE Men 16% 5% 80% MEA LAM 12%% LAM MEA 9% 1% ASIA OCE ASIA 4% 1% 3% 8% Women 28% 52% 20% 7% 10% NAM WE EE NAM WE EE 3% 2% 0.3% 5% 2% 1%

LAM ASIA 1% 1% ASI Source: Euromonitor 2016 / Internal A 1% 77 THE SHAVER MARKET (3/6)

Wet Shave market trend (in billion euros)

12.6 12.0 12.0 12.0 10.8 11.0 10.2 9.1 9.5 8.2 8.6

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: Euromonitor + Industry publications 78 THE SHAVER MARKET (4/6)

Global Wet Shave Source of Growth – in value (CAGR 2009 to 2016)

27% 40% 33% Trading Up & Price Increase Consumption Population Growth Growth

2009 2016 Source: Euromonitor 2016 + Internal estimate 79 THE SHAVER MARKET (5/6)

Market evolution towards more value-added products (in value)

Western Europe USA

Single Blade Twin Blades Triple Blades and More Single Blade Twin Blades Triple Baldes and More

86% 80% 74%

54%

42% 23% 14% 16% 4% 0% 4% 3% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: USA = IRI MULO FY 2016 Westerne Europe = AC Nielsen - 9 countries FY 2016 80 THE SHAVER MARKET (6/6)

Market evolution towards more value-added products (in value)

Brazil

87% Single Blade Twin Blades Triple Blades and More

62%

33%

9% 4% 5%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: AC Nielsen – FY 2016 81 SHAVERS - STRATEGY

Strengthen our foundation in one-piece A complete and successful range of one-piece three, four and five-blade products for men (BIC 3™, Comfort 3™, Hybrid 3™, Flex 3™, Flex 4™, Flex 5™, Hybrid 5 ™…)

A strong franchise in the women’s segment with the BIC® Soleil® Brand

Products offering a better value

Great value for money positioning

82 2006 – 2016 BIC SHAVER KEY FIGURES

FY 2016 FY 2016 €467.0M €69.6M Net Sales NIFO

Net sales change on a comparative basis Average Volume +0.0% -4.0% +7.0% +3.0% +3.0% +3.8% +4.0% +1.0% +0.6% +2.0% Value +6.2% +9.2% +3.9% +2.4% +7.6% +9.1% +10.1% +6.5% +4.1% +11.9% +7.0% +7.1%

18.5% 18.0% 17.8% 17.1% 17.0% 13.8% 14.9% 14.2% 12.5% 9.9% 8.2%

4.1%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Normalized IFO margin 83 ONE-PIECE MARKET SHARES IN EUROPE (15 COUNTRIES)

In volume In value

51% 38%

17% 14% 17% 18%

Gillette BIC Schick Gillette BIC Schick

Source: IRI Nielsen - Last 52 weeks ending December 2016 (Europe 15 countries) 84 ONE-PIECE MARKET SHARES IN USA

In volume In value

31% 36%

24% 28%

15% 10%

Gillette BIC Schick Gillette BIC Schick

Source: IRI Nielsen - Last 52 weeks ending December 2016 85 ONE-PIECE MARKET SHARES IN BRAZIL

In volume In value

71% 78%

23% 17%

1% 1% Gillette BIC Schick Gillette BIC Schick

Source: IRI Nielsen - Last 52 weeks ending December 2016 86 BIC MARKET SHARES IN 3 AND MORE BLADES DISPOSABLE SHAVERS SEGMENT

In volume In value

33% 31% 30% 25% 26%

20%

Europe United States Brazil Europe United States Brazil

Source: IRI Nielsen AC Nielsen and BIC estimates (Europe, US and Brazil: December 2016) 87 SHAVERS: QUALITY AND INNOVATION AT A REASONABLE PRICE

Fusion 5.99 Hydro 5 3.33 Fusion 4.99 Flex 5 2.83

Mach 3 2.33 (USD) Hydro 5 3.81

BIC Hybrid 5 2.00

(USD)

Pricing US US

BIC Flex 4 2.00 Sensor 2.60 US US

Sensor 3 1.50 system Offline –

piece shaver piece BIC Flex 3 1.25 -

Extreme 3 1.17 Men

One Hybrid 3 Comfort 0.83 Dollar Shave Club 6 Blades 2.25 Sensor 2 0.67 Slim twin 0.50

(USD) Harry's 5 Blades 1.88 Pricing Venus Embrace Disposable 4.00 US Dollar Shave Club 4 Blades 1.50

Hydro Silk Disposable 3.33 system Online BIC Soleil Shine 2.66

(USD) Venus Disposable 2.33

BIC Soleil Glow 2.00 US US

– Quattro Disposable 2.00

Big Moustache 5 Blades 2.38

piece shaver piece (EUR)

- BIC Soleil Bella 2.00

Simply Venus 3B 1.50 BIC Shave Club 5 Blades 2.25

One Pricing Women Women BIC Soleil Twilight 1.37 Harry's 5 blades 2.23

BIC Silky Touch 0.29 Europe Online system Online Source : Walmart non-promoted price per unit - Ending February 2017 88 LONG-TERM PRIORITIES

More performance… always at a fair price Unit price 5 4 blades 3 blades blades Competitor 1 Competitor 2 2 BIC Flex 5 BIC blades BIC Flex 5 Hybrid 1 BIC Flex 4 blade BIC Comfort BIC Sensitive 3 Advance BIC Twin Select Shaving performance 89 LONG-TERM PRIORITIES DEVELOPING MARKETS Adapting our offer

Developed markets

Developing markets

90 Governance BOARD OF DIRECTORS COMPOSITION IN 2017

Bruno BICH Pierre VAREILLE

Chairman and Chief Vice Chairman Executive Officer Lead Director

Mario GUEVARA François BICH Elizabeth BASTONI

Marie-Pauline Marie-Henriette John GLEN CHANDON-MOËT POINSOT

SOCIÉTÉ M.B.D. Candace MATTHEWS Represented by Edouard BICH Independent directors

92 BOARD OF DIRECTORS FUNCTIONING IN 2016

10 directors 6 meetings 95% attendance rate

4 independents 4 nationalities 30% Women*

*This percentage increased to 40% after the approval of the resolution of the May 10, 2017 Shareholders’ meeting, related to the appointment of Mrs. Candace Matthews. 93 LEADERSHIP TEAM

Bruno BICH Chairman and Chief Executive Officer

Gonzalve BICH Benoit MAROTTE Marie Aimée BICH-DUFOUR Executive Vice-President Europe - North America - Asia - Pacific Executive Vice-President Chief Operating Officer BIC Corporate Foundation & Board Secretary

Jim DIPIETRO Peter DALSBERG Chris MILLS Executive Vice-President Stationery North America Finance

François CLÉMENT-GRANDCOURT Ricardo Ibarra Ed DOUGHERTY Lighters Latin America Strategy

Thomas BRETTE Peter VAN DEN BROECK Edouard MARUANI Shavers Africa - Middle-East - India Legal

Tim PERMAN Laurent SERANO Alison JAMES Strategy and Business Development Information Technology Human Resources

94 Sustainable Development DISTRIBUTION TO STAKEHOLDERS IN 2016*

Employees 641.5 M€ Communities Suppliers 2.4 M€ 1,117.7 M€

Net investments Clients Shareholders 178.9 M€ 277.0 M€

Governments Banks 151.8 M€ -5.6 M€

*Not restated from IFRS 5 96 MEASURE…

Items used to advertise and promote a product, a service or a company program

BIC® Cristal® 88% 7% 4% - 1% Pen

Lighter BIC® 87% 6% 5% - 2% Maxi

BIC® Classic Single-blade 83% 11% 4% - 2% Shaver

(shaver inc.usage) 78%

97 … TO ECO-DESIGN …

Take into account our main impact: use of non renewable raw materials

1 Light and long lasting Reduce to the raw products material weight

2 Maximum increase Refillable products of the duration of use

3 Recycled plastic and metal Use alternative Plastic from vegetal origin materials

98 … OUR PRODUCTS

A trendsetting range Light and long-lasting products overcoming the paradox of disposable vs. long-lasting

Eco-values on packaging for stationery products

99 FRENCH ECOLABEL NF ENVIRONNEMENT BIC FIRST MANUFACTURER TO BE CERTIFIED

Cristal® Fine Clic Stic™

Orange™ Fine BIC Matic

Evolution™ 650 Cristal® Medium (uniquement en boîtes)

Evolution™ 655 Atlantis® Clic (in box only)

Evolution™ coloring

4 Couleurs™ Evolution™ coloring Triangle

4 Couleurs™ fine BIC® Kids Visacolor™ XL

4 Couleurs™ pro & 4 Colors™ Counter Pen Evolution™ Black

100 AN EXAMPLE OF ECODESIGN: THE BIC® EASY SHAVER

Ecodesign allowed to create a shaver with: ▪ Less material 1st step: ▪ With the same characteristics, therefore the same perception of quality by the consumer

Reducing the quantity -20% of material

BIC® C3 ® AdvanceTM BIC® Easy

BIC® EASY 1 lighweight handle sold with 6 heads 2nd step: = +

Have a longer 60 days of shaving duration -59% of use of environnemental Impact on the duration = of use

101 Appendix Q3 AND 9M 2017 NET SALES MAIN EXCHANGE RATE EVOLUTION VS. EURO

Average Average Average Average rate rate rate rate % of sales Q3 2016 Q3 2017 % of change % of sales 9M 2016 9M 2017 % of change US Dollar 38% 1.12 1.17 -4.9% US Dollar 38% 1.12 1.11 0.2% Brazilian Real 9% 3.62 3.71 -2.4% Brazilian Real 9% 3.95 3.54 11.8% Mexican Peso 6% 20.95 20.93 0.1% Mexican Peso 6% 20.45 20.97 -2.5% Argentina 1% 16.70 20.30 -17.7% Argentina 1% 16.27 18.14 -10.3% Canadian dollar 3% 1.46 1.47 -1.1% Canadian dollar 3% 1.47 1.46 1.3% Australian dollar 2% 1.47 1.49 -1.1% Australian dollar 2% 1.50 1.45 3.5% South African Zar 1% 15.70 15.48 1.4% South African Zar 2% 16.69 14.69 13.6% Indian Rupee 4% 74.72 75.51 -1.0% Indian Rupee 4% 74.93 72.61 3.2% Non Euro European countries 9% Non Euro European countries 7% Sweden 9.51 9.56 -0.5% Sweden 9.38 9.59 -2.2% Russia 72.07 69.20 4.1% Russia 76.09 64.94 17.2% Poland 4.34 4.26 1.9% Poland 4.36 4.26 2.2% British Pound 0.85 0.90 -5.3% British Pound 0.80 0.87 -8.0%

103 9M 2017 NET SALES BREAKDOWN BY CATEGORY

OTHER PRODUCTS 3% STATIONERY 41%

SHAVERS 22%

34% LIGHTERS

104 9M 2017 NET SALES BREAKDOWN BY GEOGRAPHY

32% 29% DEVELOPING MARKETS EUROPE

39% NORTH AMERICA

105 GROUP QUARTERLY FIGURES

Including BIC Graphic North America and Asia sourcing Excluding BIC Graphic North America and Asia sourcing (IFRS 5)

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 510.8 623.2 548.3 559.4 2,241.7 469.3 562.2 490.5 1,522.0 503.8 2025.8 469.2 593.7 465.8 1,528.7

YoY actual changes +17.6% +16.6% +10.4% +8.9% +13.3% +0.3% -1.1% +1.1% +0.1% +6.7% +1.6% +0.0% +5.6% -5.0% +0.4%

YoY changes on a constant currencies basis* +6.2% +5.2% +4.1% +6.9% +5.6% +6.7% +4.6% +3.0% +4.7% +5.4% +4.9% -4.1% +3.6% -2.2% -0.7%

YoY changes on a comparative basis* +3.9% -0.9% -0.1%

IFO 97.6 143.9 104.2 94.2 439.9 81.4 127.9 96.2 305.5 97.8 403.4 74.3 120.6 83.3 278.2

Normalized IFO* 101.8 137.4 104.2 88.6 432.0 81.4 132.1 97.4 311.0 98.1 409.1 81.3 138.2 83.5 302.9

IFO margin 19.1% 23.1% 19.0% 16.8% 19.6% 17.3% 22.7% 19.6% 20.1% 19.4% 19.9% 15.8% 20.3% 17.9% 18.2%

Normalized IFO margin* 19.9% 22.0% 19.0% 15.8% 19.3% 17.3% 23.5% 19.9% 20.4% 19.5% 20.2% 17.3% 23.3% 17.9% 19.8%

Net Income Group Share 77.2 99.3 76.3 72.1 325.1 51.0 89.1 73.6 213.7 36.0 249.7 49.7 79.9 57.8 187.3

EPS Group Share 1.64 2.10 1.62 1.53 6.89 1.08 1.89 1.57 4.55 0.77 5.32 1.06 1.71 1.24 4.02

*See glossary 106 GROUP QUARTERLY FIGURES BY GEOGRAPHY

In million euros Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17 Europe 126.6 170.0 131.4 428.0 116.8 544.8 129.5 177.5 135.3 442.4 Net Sales YoY actual changes +7.6% +6.3% +0.0% +4.7% -1.7% +3.2% +2.3% +4.4% +2.9% +3.4% YoY changes on a comparative basis* +9.2% +8.6% +2.5% +6.8% -0.1% +5.3% +2.3% +4.8% +6.4% +4.5%

North America 188.0 236.4 201.9 626.3 185.7 812.0 177.5 242.1 184.0 603.6 Net Sales YoY actual changes +5.6% +0.3% -1.7% 1.2% +7.5% +2.5% -5.6% +2.4% -8.9% -3.6%

YoY changes on a comparative basis* +4.1% +2.8% -1.3% 1.8% +5.8% +2.7% -9.2% +0.7% -4.5% -3.9%

Developing markets 154.8 155.7 157.2 467.7 201.3 668.9 162.1 174.0 146.5 482.7 Net Sales YoY actual changes -10.2% -9.8% +6.0% -5.2% +11.5% -0.7% +4.7% +11.7% -6.7% +3.2%

YoY changes on a comparative basis* +7.6% +3.3% +9.2% +6.6% +8.6% +7.1% -3.2% +7.9% -2.2% +0.8%

*See glossary 107 STATIONERY

Excluding BIC Graphic North America and Asia sourcing (IFRS 5)

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 157.1 233.2 184.3 152.4 727.0 167.1 241.1 193.9 602.1 178.2 780.3 163.4 264.7 191.3 619.4

YoY actual changes +9.1% +10.0% +8.9% +0.5% +7.4% -0.4% -1.2% -0.2% -0.7% +7.0% +1.0% -2.2% +9.8% -1.3% +2.9%

YoY changes on a constant currencies basis* -0.2% +1.1% +4.0% +2.9% +1.9% +8.0% +4.0% +2.2% +4.5% +6.3% +4.9% -5.1% +8.3% +1.2% +2.3%

YoY changes on a comparative basis* +9.1% +2.6% +3.1%

IFO 19.8 40.7 19.2 4.0 83.7 8.6 41.6 7.6 57.8 10.1 67.9 0.4 36.2 6.9 43.5

Normalized IFO* 21.3 39.9 19.2 3.1 83.4 8.6 43.4 7.7 59.7 10.4 70.1 5.9 42.3 6.9 55.1

IFO margin 12.6% 17.5% 10.4% 2.6% 11.5% 5.2% 17.3% 3.9% 9.6% 5.7% 8.7% 0.3% 13.7% 3.6% 7.0%

Normalized IFO margin* 13.6% 17.1% 10.4% 2.0% 11.5% 5.2% 18.0% 4.0% 9.9% 5.8% 9.0% 3.6% 16.0% 3.6% 8.9%

*See glossary 108 LIGHTERS

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 163.5 178.4 158.8 175.0 675.7 163.6 177.2 167.6 508.5 187.9 696.4 171.3 185.5 157.9 514.8

YoY actual changes +22.3% +22.4% +10.6% +10.3% +16.2% +0.1% -0.7% +5.6% +1.5% +7.4% +3.1% +4.7% +4.7% -5.8% +1.2%

YoY changes on a constant currency basis* +9.7% +9.3% +5.2% +8.9% +8.3% +5.4% +5.4% +6.5% +5.7% +5.2% +5.6% -0.5% +2.0% -2.3% -0.2%

YoY changes on a comparative basis* -1.7% 0.0%

IFO 61.0 75.6 63.2 61.1 260.9 62.1 70.6 68.9 201.6 73.7 275.3 63.9 77.3 64.5 205.7

Normalized IFO* 61.4 74.2 63.2 59.0 257.9 62.1 71.7 70.0 203.8 73.5 277.3 64.1 77.3 64.6 206.0

IFO margin 37.3% 42.3% 39.8% 34.9% 38.6% 38.0% 39.8% 41.1% 39.6% 39.2% 39.5% 37.3% 41.7% 40.8% 40.0%

Normalized IFO margin* 37.6% 41.6% 39.8% 33.7% 38.2% 38.0% 40.5% 41.7% 40.1% 39.1% 39.8% 37.4% 41.7% 40.9% 40.0%

*See glossary 109 SHAVERS

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 112.4 117.8 113.0 108.8 452.0 117.8 120.1 111.8 349.7 117.3 467.0 114.4 122.0 102.9 339.3

YoY actual changes +26.5% +20.0% +15.4% +14.5% +18.9% +4.8% +2.0% -1.1% +1.9% +7.8% +3.3% -2.9% +1.6% -7.9% -3.0%

YoY changes on a constant currency basis* +14.7% +9.5% +10.3% +13.3% +11.9% +10.9% +9.0% +1.4% +7.1% +6.6% +7.0% -7.7% -0.9% -5.1% -4.5%

IFO 21.4 23.4 19.2 19.4 83.3 12.6 15.4 22.2 50.2 18.4 68.6 14.3 17.2 14.1 45.6

Normalized IFO* 23.9 22.5 19.2 18.0 83.6 12.6 16.6 22.2 51.4 18.2 69.6 14.4 17.2 14.2 45.8

IFO margin 19.0% 19.8% 17.0% 17.8% 18.4% 10.7% 12.8% 19.8% 14.4% 15.7% 14.7% 12.5% 14.1% 13.7% 13.5%

Normalized IFO margin* 21.3% 19.1% 17.0% 16.5% 18.5% 10.7% 13.8% 19.8% 14.7% 15.5% 14.9% 12.6% 14.1% 13.8% 13.5%

*See glossary 110 OTHER PRODUCT

Excluding BIC Graphic North America and Asia sourcing (IFRS 5)

In million euros Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 9M 16 Q4 16 FY 16 Q1 17 Q2 17 Q3 17 9M 17

Net Sales 16.8 22.3 13.9 14.6 67.6 20.8 23.8 17.2 61.8 20.3 82.1 20.1 21.4 13.7 55.2

YoY actual changes +4.1% +16.8% -8.9% +0.2% +3.9% -14.0% -14.8% -9.5% -13.1% -6.8% -11.6% -3.2% -10.2% -20.4% -10.7%

YoY changes on a constant currency basis* +1.6% +8.5% -10.9% -0.1% -0.5% -13.0% -13.4% -8.9% -12.1% -6.8% -10.8% -4.2% -10.7% -19.8% -11.0%

YoY changes on a comparative basis* -10.0% -5.0% -6.7%

IFO* -0.5 4.9 -1.8 -3.8 -1.2 -1.9 0.3 -2.4 -4.1 -4.4 -8.4 -4.3 -10.1 -2.2 -16.6

Normalized IFO* -0.7 2.9 -1.8 -3.8 -3.4 -1.9 0.4 -2.4 -3.9 -3.9 -7.8 -3.0 1.3 -2.2 -4.0

*See glossary 111 MISCELLANEOUS

Capital evolution: As of September 30, 2017, the total number of issued shares of SOCIÉTÉ BIC was 47,595,062 shares, representing: • 69,044,905 voting rights, • 67,739,504 voting rights excluding shares without voting rights.

Total treasury shares at the end of September 2017: 1,305,401.

112 GLOSSARY - MISCELLANEOUS

Third quarter and First nine months 2016 and 2017 results are accounted for and presented in accordance with IFRS 5; BIC Graphic is no longer considered as a separate category or reporting segment. BIC Graphic Europe reports to European BIC Consumer Product management. In Developing Markets, BIC Graphic operations report to their respective country's Consumer Product management. On June 30, 2017, BIC Graphic North America and Asian Sourcing operations were sold to H.I.G. Capital.

On a constant currency basis • Constant currency figures are calculated by translating the current year figures at prior-year monthly average exchange rates Comparative basis • On a constant currency basis and constant perimeter Normalized IFO • Normalized means excluding non-recurring items Normalized IFO margin • Normalized IFO as a percentage of net sales Net cash from operating activities • Principal revenue-generating activities of the entity and other activities that are not investing or financing activities Net cash position • Cash and cash equivalents + Other current financial assets - Current borrowings - Non-current borrowings.

113 DISCLAIMER

This document contains forward-looking statements. Although BIC believes its estimates are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties.

A description of the risks borne by BIC appears in section “Risks Factors” of BIC “Registration Document” filed with the French financial markets authority (AMF) on March 22, 2017.

114 2018 AGENDA

Full Year 2017 results 14 February 2018 Meeting – BIC Headquarters

First Quarter 2017 results 25 April 2018 Conference call

2018 AGM 16 May 2018 Meeting – BIC Headquarters

First Half 2018 results 1st August 2018 Conference call

All dates to be confirmed 115