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BiC BIC SECOND QUARTER & FIRST HALF 2021 RESULTS Clichy , France , July 28th , 2021 Solid results , driven by Net Sales growth in all divisions : Flame for Life performance boosted by an exceptional start to the year in US Pocket and Utility Lighters , which we don't expect to repeat in the second half , as well as robust growth in Latin America and the successful integration of Djeep in Europe Human Expression result driven by Digital Writing , while Core Writing Instruments markets remained challenging in Latin America and India Blade Excellence fueled by the success of BIC 5 - blade and Hybrid shavers despite a challenging competitive environment Strong growth in e - commerce in all regions , including Developing Markets Continued manufacturing efficiencies and further savings from the Invent the Future transformation plan Sustained Free Cash Flow generation driven by strong Cash From Operations in million euros Q2 2020 Q2 2021 H1 2020 H1 2021 Group Net Sales 418.9 505.7 775.8 916.7 Change as reported ( 23.1 ) % + 20.7 % ( 19.2 ) % + 18.2 % Change on a comparative basis ( 21.5 ) % + 23.9 % ( 18.2 ) % + 22.5 % Change on a constant currency basis ( 21.3 ) % + 26.8 % ( 17.7 ) % + 26.2 % EBIT Margin 0.2 % 20.8 % 3.1 % 36.3 % Adjusted EBIT Margin 16.1 % 20.9 % 12.0 % 18.1 % EPS ( in euros ) ( 0.07 ) 1.53 0.49 5.12 Adjusted EPS ( in euros ) 1.27 1.55 1.87 2.51 Free Cash Flow before acquisitions and 23.1 67.7 42.3 103.7 disposals Net Cash Position 41.5 366.7 41.5 366.7 " Robust top line growth drove our strong first half results , getting us back to pre - COVID levels on a comparative basis . A standout was the performance of our Flame for Life division , which grew across all key geographies , particularly in the U.S. I am also pleased with the growth we are seeing from our recent acquisitions , as well as our robust e - commerce results , and the launch of several innovative and sustainable products into the market . We expect the balance of the year to be more challenging as we continue to navigate through current worldwide supply chain disruptions and adverse input costs , but we remain focused on what we can control and the pursuit of our transformation journey , which I believe will drive our profitable growth trajectory and create value for all our stakeholders . " Update of 2021 Outlook ( based on current market assumptions¹ ) Gonzalve Bich , Chief Executive Officer Given H1 performance and current market assumptions and without any substantial market deterioration during the second half , we upgrade our Net Sales outlook and now expect to deliver + 9 % to + 11 % total Net Sales growth at constant currencies . The balance of the year will be affected by input cost inflation and the current disruption of supply chains worldwide , leading to higher than initially expected raw materials and freight & distribution costs . We anticipate an increase in working capital notably driven by the building of strategic inventories to protect supply and delivery for 2022. Full- Year 2021 Free Cash Flow target remains above 200 million euros . 1 See page 9 for main market assumptions . BIC- Press Release - Page 1 of 16