2019 UNIVERSAL REGISTRATION DOCUMENT

• BIC GROUP - 2018 REGISTRATION DOCUMENT •

subsidiary BIC Sport

BOAT

Jul 23 2020 numerous windsurf world championships BIC Sport expanded into other water sports; ... SUP-YAK hybrid that doubles as a kayak or the Wing.

BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

Mar 31 2020 310. ADDITIONAL INFORMATION. 311. Documents on display ... For Men: BIC® Easy/Hybrid

Sailing

May 5 2004 performance-minded construction found in BIC's windsurf boards ... A hybrid vee-shaped bow improves both glide and tracking despite the ...

2019 UNIVERSAL REGISTRATION DOCUMENT - BIC GROUP

310. ADDITIONAL INFORMATION. 311. Documents on display For Men: BIC® Easy/Hybrid BIC® Flex 5 and BIC® Flex 5. ?. Hybrid;.

of the American Mathematical Society

Jul 23 2009 gauge-invariant operators and the Dixmier-Douady ... hybrid models with stochastic interest rates. ... Telephone: 310 825 4755.

BOOKCOLLECTION 2017

HYBRID/KITE SURFBOARDS - p. 82 WINDSURF. The all-new 2017 5X Chameleon has totally changed its' personality ... High pressure pump w/ gauge.

The Reasonable Certainty Requirement in Lost Profits Litigation

15 See Marin Roger Scordato Post-Realist Blues: Formalism

BUYERS GUIDE

Dec 10 2014 We asked Benoit Treguilly from BIC Sports his view on that phenomenon. ... Raptor is a surfski-touring kayak hybrid for every paddler.

UNIVERSAL

REGISTRATION

DOCUMENT

2019

INCLUDING

THE ANNUAL

FINANCIAL

REPORT

AFR NFPS

Elements of the Annual Financial Report

are identified in the content using the symbol Elements linked to the Non-Financial Performance Statement are identified in the content using the symbol

Message from the CEOBIC at a glance

Extracts from the Integrated Report 5

GROUP PRESENTATION, PERSPECTIVES, AND

STRATEGY 21

History1.1. 22

Key figures1.2. 25

Strategy1.3. 31

2020 and long-term perspectives1.4. 32

AFR

Business presentation1.5. 34

AFR

RISKS MANAGEMENT43

Main risks and risk assessment2.1. 44

Description and mitigation ofmainrisk factors2.2. 45

Vigilance Plan2.3. 51

Risk Management and Internal Control procedures 2.4. implemented bythe Company and insurance 55 AFR

OUR ENVIRONMENTAL, SOCIAL,AND SOCIETAL

RESPONSIBILITY

63
NFPS

The BIC Sustainable Development Program and 3.1.

non-financial performance65 NFPS

Responsibility concerning ourproducts3.2. 77

NFPS

Environmental responsibility concerning our 3.3.

operations 88 NFPS Our social responsibility to our team members3.4. 96 NFPS Responsibilities related to our supply chain3.5. 108 Societal benefits related to BIC® products3.6. 113 NFPS

Milestones3.7. 117

AFR

CORPORATE GOVERNANCE125

Administrative and management bodies4.1. 126

Corporate Officers' compensation4.2. 150

AFR

COMMENTS ON THE YEAR169

Operations and consolidated results5.1. 170

Financial situation and cash5.2. 178

Dividends5.3. 179

Investments5.4. 180

FINANCIAL STATEMENTS 183

Consolidated financial statements6.1. 184

Statutory auditor's report on the consolidated 6.2. financial statements 242 Parent company financial statements of SOCIÉTÉ 6.3.

BIC (FrenchGAAP) 246

Statutory auditors' report onthefinancial 6.4.

statements 265 Statutory auditors' special report on regulated 6.5. agreements 269

INFORMATIONS ABOUTTHEISSUER 271

Information on the Company7.1. 272

AFR

Share capital7.2. 274

AFR

Shareholding7.3. 276

AFR

Treasury shares and share buyback7.4. 278

Investor relations7.5. 279

Share information7.6. 280

BOARD OF DIRECTORS' REPORT AND DRAFT

RESOLUTIONS OF THE SHAREHOLDERS'

MEETINGOFMAY20, 2020 281

Ordinary Shareholders' Meeting8.1. 283

Extraordinary Shareholders' Meeting8.2. 301

Ordinary and Extraordinary Shareholders' Meeting8.3. 310

ADDITIONAL INFORMATION 311

Documents on display9.1. 312

Main press releases9.2. 313

AFR Declaration by responsible person of the Universal 9.3.

Registration Document 314

AFR

Statutory Auditors and fees9.4. 315

Glossary9.5. 316

AFR

Cross Reference table for Universal Registration

Document 319

Cross reference table with theAnnual Financial Report 321 Cross reference table with themanagement report 322 Cross reference table for environmental and social indicators 324

Cross reference table of thecorporate governance

report 325

This Universal Registraঞ on Document has been led on 31 March 2020 with the Autorité des Marchés Financiers (AMF), as

competent authority under Regulaঞ on (UE) 2017/1129, without prior approval pursuant to Arঞ cle 9 of the said regulaঞ on.

The Universal Registraঞ on Document may be used for the purpose of an o er to the public of securiঞ es or admission of

securiঞ es to trading on a regulated market if completed by a securiঞ es note and, if applicable, a summary and any amendments

to the Universal Registraঞ on Document. The whole is approved by the AMF in accordance with Regulaঞ on (UE) 2017/1129.

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

Our journey began 75 years ago, comprised of many

activities to maintain customer service and meet

Gonzalve Bich

MESSAGE FROM BIC"S CHIEF EXECUTIVE OFFICER

1• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

BIC AT A GLANCE

BIC is listed on "Euronext Paris" , part of the SBF120 and CAC Mid 60 indexes, and also part of the following Socially Responsible

Investment indexes: CDP Climate 2019: Leadership Level A- and CDP Supplier Engagement Rating 2019: Leadership A-,

FTSE4Good indexes, Ethibel Pioneer and Ethibel Excellence Investment Registers, Ethibel Sustainability Index (ESI) Excellence

Europe, Stoxx Global ESG Leaders Index.

12,777 Team members26 Factories on 4 ঞ

(1) Normalized: excluding exceptional items. - (2) A?er acquisitions and disposals. - (3) 2018 Dividend paid in June 2019.

40% of Net Sales

35% of Net Sales

24% of Net Sales

NET SALES: €1,949.4 M

NORMALIZED

(1)

INCOME FROM OPERATIONS (NIFO): €331.8 M

NIFO MARGIN: 17.0%

EARNINGS PER SHARE (GROUP SHARE): €3.91

FREE CASH FLOW

(2) : €198.0 M

NET CASH POSITION: €146.9 M

ORDINARY DIVIDEND

(3) : €3.45 per share

2019 financial performance

NORTH

AMERICA

39%
of Net Sales

DEVELOPING

MARKETS

32%
of Net Sales

EUROPE

29%
of Net Sales

Worldwide manufacturing footprint

17 5

Lighters

Shavers

*including BIC Graphic (adve?ising and promotional products).

2• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

2018 2019Change as

reportedChange on a comparative basis NET SALES (in million euros) 1,949.81,949.40.0%-1.9% NORMALIZED INCOME FROM OPERATIONS (in million euros) 352.4331.8 NORMALIZED INCOME FROM OPERATIONS MARGIN (in %) 18.1%17.0% NET INCOME GROUP SHARE (in million euros) 173.4176.1 EARNINGS PER SHARE GROUP SHARE (in euros) 3.803.91

Key financial indicators

2018 2019

ENERGY CONSUMPTION (Gigajoules/tons)12.1412.59

WATER CONSUMPTION (M

3 /tons)5.324.87 GREENHOUSE GAS EMISSIONS NORMALIZED TO PRODUCTION (tCO 2 /ton) 1.0141.070

Key non-financial indicators

50%
50%
7 in 2019 94%

Board of Directors

Public

54%

Ѵ(Voting rights: 61%)

45% 1%

*In accordance with the AFEP-MEDEF Code, Directors who represent the employees are not taken into account when assessing the ratio of Independent Directors.

Fu?hermore, in accordance with the law, the Directors who represent the employees are not included when assessing the percentage of women on the Board-data

subject to the approval of the resolutions by the Annual General Meeting on May 20, 2020.As of December 31, 2019, the total number of issued shares of SOCIETE BIC was 45,532,240 shares, representing: 67,035,094 voting rights.

Shareholding structure

3• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

4• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

EXTRACTS FROM THE INTEGRATED REPORT

06 75 years of sustainable growth and value creation

08 Business model

10 Industrial expertise

11 Governance

14 Risk management

15 "BIC 2022 - Invent the future" transformation plan

17 Sustainable development: "Writing the Future, Together"

20 Value sharing

5• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

The Glorious 30

Beginning of the

Western Europe,

South America, North

America, Oceania,

Middle East and Africa1995

Expansion in Eastern

Europe, Central Europe

and South East Asia1965

Japan1973

Mexico

1943

IKEA furniture kit

1970

Boeing 7471979

Walkman

1990
1994

Amazon

1969

BIC launches

promotional writing instruments1973

BIC diversifies its

product portfolio and launches the BIC pocket lighter 1975

BIC pioneers the

"one-piece shaver" 1979

BIC acquires Conté

coloring and graphite brand 1992

BIC acquires the

American correction

brand Wite-Out

Products

Expansion

1950

BIC launches its own

ballpoint pen in France, the BIC

Cristal

Development

in France Oil crisis Beginning

ѴѴঞEnd of the Cold War,

Beginning of ecological

awareness

75 YEARS OF SUSTAINABLE GROWTH AND VALUE CREATION

1944

Marcel Bich acquires

a factory in Clichy,

France, and starts

a writing instrument business with his partner

Édouard Buffard

1972

BIC is listed on the

Paris Stock Exchange1994

Bruno Bich is appointed

Chairman and Chief

Executive Officer

Corporate life

Products and services that have significantly modified consumption pa?erns.

For 75 years, we have strived to reinforce BIC"s business model by constantly adapting and improving the way we access

and use the resources that are necessary to our operations.

1990 1980 1970 1945 1960

6• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT

2013

Opening of a lighter

factory in China2019

Acquisition of Haco

Industries Ltd. in Kenya

Acquisition of Lucky

Stationery in Nigeria2009

Entry in India with

the acquisition of 40% of Cello 1998

Google

2007
1997

BIC acquires the

European correction

brand Tipp-Ex 2000

BIC launches its first

Utility Lighter

2004

BIC launches Life

Cycle Assessment

for pens, lighters and shavers... A starting point for BIC eco-design expertise

BIC launches the

BIC

Soleil

Shaver

for women 2009

BIC is the first

European manufacturer

of writing instruments to earn the

French Ecolabel

"NF Environnement"