Bic : PRESENTATION DES RESULTATS DU TROISIEME TRIMESTRE ET 9 MOIS 2023 (ENGLISH ONLY)

OCTOBER 26, 2023

Third Quarter 2023 Results Presentation

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Third Quarter and Nine Months 2023

Gonzalve Bich

Chief Executive Officer

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Nine-months 2023 Key Takeaways

• Profitable growth across all divisions through enhanced execution of Horizon Plan
• Revenue Growth Management delivered 15% YTD increase in net sales per SKU ahead of plan
• Consumer-centricportfolio and product innovations drove growth and market share
• Solid 9-months gross profit margin driven by improved price, mix and manufacturing efficiencies

Human		Flame		Blade
Expression		for Life		Excellence

*at constant currencies	3

Full Year 2023 Net Sales are expected to grow between +5% and +7% at constant currencies driven by price and mix

2023 Outlook

Confirmed

We expect to

improve adjusted

EBIT and adjusted

EBIT margin in

Full Year 2023

Free Cash Flow is expected to be above €200 million in 2023, for the fifth year in a row

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Third Quarter and

Nine Months 2023

Operational and

Consolidated Results

Chad Spooner

Chief Financial Officer

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Nine Months 2023 Key Financial Figures

Net Sales	Adjusted EBIT	Adjusted EPS	Free Cash Flow*
€1,737.3m	€260.4m	€4.43	€142.2m

Change as reported

Change as reported

Net Cash Position

Change at Constant

Currencies

(3.0)%

(2.2)%

€308.3m

+7.1%

Change on a

aEBIT Margin

Comparative basis

15.0%

+3.8%

* Free Cash Flow: before acquisitions and disposals

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Nine Months 2023 Division Snapshot

Human Expression

Flame for Life

Blade Excellence

€675.0m Net Sales

+7.6%*

€60.6m aEBIT

9.0% margin

€634.4m Net Sales

+1.7%*

€221.4m aEBIT 34.9% margin

€407.4m Net Sales

+15.6%*

€46.5m aEBIT

11.4% margin

Double-digit net sales	Market share gains in all
growth in Latin	mature markets driven by
America, the Middle East	both added-value
and Africa	segments and core
Single-digit net sales	stationery products
growth in Europe

Double digit net sales growth in Latin America and Africa

High-single digit net sales growth in Europe

Market share gains in

the US and Brazil, where BIC is well positioned

Double-digitnet sales growth in key European countries, Latin America, the Middle East and Africa

Low single-digit growth

in North America

Market share gains in all geographies

Strong increase in aEBIT margin

driven by favorable pricing and mix, lower brand support

Decrease in aEBIT margin due to

unfavorable fixed cost absorption, raw materials, negative net sales operating leverage in the US and brand support

Decrease in aEBIT margin driven by input cost inflation, unfavorable forex and investments for the Easy Rinse launch in US partially offset by favorable price and mix

* at constant currency

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Third Quarter 2023 Net Sales Evolution

in million euros+3.2 pts -6.9pts +0.0 pts +0.3 pts*

580.1	18.3		0.4	1.5	560.3
	40.0

-3.4% as reported

Q3 2022 Net Sales	Change on a	FX impact	Perimeter impact	Argentina	Q3 2023 Net Sales
as reported	comparative basis				as reported

* Argentina increase at Constant Currency +4.0 pts and FX impact (ARS) -3.7 pts

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Nine Months 2023 Net Sales Evolution

in million euros

+3.8 pts

-2.6 pts

+0.1 pts

+0.5 pts*

1,707.2	64.0	3.4	8.4	1,737.3
		45.8

+1.8% as reported

9M 2022 Net Sales	Change on a	FX impact	Perimeter impact	Argentina	9M 2023 Net Sales
as reported	comparative basis				as reported

* Argentina increase at Constant Currency +3.2 pts and FX impact (ARS) -2.7 pts

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Third Quarter 2023:

Key Components of Change in Adjusted EBIT

	-0.7 pts	15.2%
	-0.8 pts
11.3%
	5.4 pts

Q3 2022 Adjusted EBIT	Change in Gross Profit	Increase in Brand Support	Increase in OPEX and Other	Q3 2023 Adjusted EBIT
			Expenses

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