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BiC Ⓡ BIC FIRST QUARTER 2021 RESULTS¹ Clichy , France , April 27th , 2021 • • • Robust results driven by the exceptional growth of U.S. Lighters in Q1 , propelled by a shift in market dynamics and trading environment in both Pocket and Utility lighters Challenging underlying market trends in core Writing Instruments , worsened by the pandemic in developing countries Solid performance of Rocketbook in Digital Writing Continued growth in e - commerce , driven by all channels of trade , and share gains in key markets • Improved manufacturing costs driven by procurement efficiencies Sustained Free Cash Flow and solid Net Cash Position in million euros Q1 2020 Q1 2021 Group Net Sales 357.0 411.0 Change as reported ( 14.1 ) % 15.1 % Change on a comparative basis ( 13.8 ) % 20.9 % Change on a constant currency basis ( 12.9 ) % 25.6 % EBIT Margin 6.4 % 55.3 % ² Adjusted EBIT Margin 7.1 % 14.7 % EPS ( in euros ) 0.56 3.59 Adjusted EPS ( in euros ) 0.60 0.96 Free Cash Flow before acquisitions and disposals 19.2 36.0 143.2 393.6 Net Cash Position " Our first - quarter performance was positively impacted by exceptional results in our U.S. Lighter business . Rocketbook , our digital writing business , doubled its sales vs the same period last year , with strong results across all online channels . In Shavers , we were able to grow in added - value products and in e - commerce amidst underlying weak market trends . While we continue to effectively navigate through a challenging trading environment , we remain cautious for the balance of the year due to uncertainties related to the pandemic , particularly in Latin America and India . With our Horizon plan serving as our North Star , I am encouraged by the direction that we are taking and the capabilities we are building throughout our organization that will drive accelerated profitable growth . " Gonzalve Bich , Chief Executive Officer 2021 Outlook ( based on current market assumptions ) ³ Despite a better - than - expected start of the year and an exceptional performance in Lighters , our Full - Year Net Sales outlook remains unchanged , although we now expect to be at the high end of our + 5 % to + 7 % growth objective at constant currencies . The trading environment remains volatile in Latin America , Africa and India , and the visibility of the upcoming Back - To - School is reduced due to evolving consumer shopping habits . The Group will provide an update on overall business trends alongside its half - year results in July . Full Year 2021 operating margins should improve thanks to tight management of input costs and further manufacturing efficiencies . The Full Year 2021 Free Cash Flow is expected to be above 200 million euros , driven by strict control of CAPEX and Working Capital . 1 Non audited figures Including Clichy headquarters capital gain 3 See page 8 for main market assumptions . BIC- Press Release - Page 1 of 11