1

Shareholders’ Letterof Bic Group

No 152011 June

LADIES, GENTLEMEN, DEAR SHAREHOLDERS,

2010 was a good year for the bic group: we gained market shares in all consumer businesses (stationery, lighters and shavers) and we reinforced our position in developing markets. also, we had benefits from the first effects of the 2009 restructuring plan and began the integration of our acquisitions in the bic advertising and promotional products (bic app) business.

despite a challenging economic environment, particularly in developed countries, our 2010 net sales were up approximately 6% on a comparative basis, with 10% growth in developing markets. this good performance is a tribute to the strength of bic’s business model and values. beyond the net sales, the profitability is in progress, with a growth of more than 30% of the normalized income from operation.

as a result of the good performance of the group in 2010, the board proposed to pay a dividend of €1.90 per share, up 35.7% compared to last year and a 44% pay-out ratio.

the first quarter results were good, with continued strong performance in developing markets. in all geographies, our consumer business activities leveraged 2010 distribution and market share gains. the first quarter was challenging for bic app’s sales performance, but we are beginning to see benefits from the integration plan savings and are confident that sales growth will resume in 2012.

the 2011 fiscal year will benefit from the strong growth in developing countries, which represented 29% of the 2010 group net sales. this combined with distribution and market share gains in developed markets, should allow us to generate profitable growth, in particular in the consumer business. For bic app, the 2011 objective is to finalize the integration plan and return to sales growth in 2012.

For the full year, group performance could be influenced by currency volatility and raw material price increases; in this environment, we will continue to focus on protecting gross margin through improved manufacturing efficiency and targeted price adjustments and we will also continue our innovation strategy and brand support.

Mario Guevarachief executive officer

Available online at

bicworld.com

this year, it looks like a maga-zine, with columns as “company”, “trends”, “shopping”... an attractive document which will be very useful during the whole year.

2010 ANNUAL REPORt

+ TRENDS  HIGH TECH  BUZZ  THE COMPANY  SHOPPING  CULTURE

MAN ON THE STREET

“I TESTED THE BIC� COMFORT � SHAVER”

INTERVIEW WithBruno Bich and Mario Guevara

SUSTAINABLE DEVELOPMENT

BIC AND GREEN

CULTURECarine Brancowitz, an illustrator hooked on BIC® ballpoint pens

THE FIRST YEARLY MAGAZINE PUBLISHED BY BIC

N���//����

A LOOK BACK OVER THE “IT” PENS OF ����BIC FashionSPECIAL REPORTBIC� LIGHTERS: QUALITY AND SAFETY FIRST

FIND

INSIDE YOUR

FREE GIFT

A BAG HANGER

2

Bictoday

1 Comparative basis: at constant currencies and constant perimeter. Figures at constant perimeter exclude the impacts of acquisitions and/or disposals that occurred during the current year and/or during the previous year, until their anniversary date.

2 Normalized: excluding restructuring, BIC APP integration plan expenses and real estate gains.

First Quarter 2011 Results

Net sales (in million euros)

Q1 2010 Q1 2011

378.3409.9

ChaNge iN Net sales on a comparative basis1 by category (in %)

+9.4+10.3

+11.9

-8.8

NoRmalized iFo maRgiN 2 (in %)

Q1-10 Q1-10 Q1-10 Q1-10Q1-10

Q1-11 Q1-11 Q1-11 Q1-11Q1-11

Group

APP

14.2

20.3

7.4

17.3

38.040.8

15.720.3

-4.2 -4.9

Stationery StationeryLighters

Lighters

ShaversShavers

APP

+6.6% on a

comparative basis

the BiC® CRistal® is celebrating its 60th anniversary!our ballpoint pen bic® cristal® was 60 years old in 2010! happy birthday to bic® cristal®, sold in over 160 countries. it’s the best selling ballpoint pen in the world. it is still just as modern today.

as if we needed to remind anyone about it, this classic offers quality, quick-drying ink for smooth writing for 2 km. the tungsten carbide ball point is perfectly round and highly resistant.

the medium point measures 1.0 mm and the line width 0.4 mm. as a result, with a single bic® cristal® we can do 986 sudokus or write 506 postcards, i.e. twice more than with most of the competitive products.

the original , ingenious design means a hexagonal shape that won’t easily roll off your desk. the barrel is transparent so you can easily see the level of ink, and the cap and plug color match the ink color.

314.9millioN euRos

normalized iFo

17.2%normalized iFo margin

4.29 euRos

earnings per share

highlights oF perFormance

Net sales (in million euros)

2009 2010

1,562.71,831.5

+5.9% on a

comparative basis

2010

3

a NeW iNteRaCtive CampaigN For the launch oF bic® FleX 3 shaver For the launch of its new male shaver bic® Flex 3, bic and the agency buzzman created a viral campaign on youtube, inclu-ding a film that transforms into a video game with movement detectors.Freshly shaved with a bic® Flex 3, a cham-pion of human curling glides on his stomach to reach a target marked on the ice. at the end of the film, youtube becomes an interface for the new generation of video games: your webcam will detect your body’s movements allowing you to become a human curling sweeper. launched on april 11, 2011 in France, the campaign has been extended to the rest of europe and has been seen more than one million times (as of may 3rd, 2011).

the video is available on our website www.bicworld.com or on www.youtube.com (tape “Human curling”).

What’s NeW at bic?the 4-colortM family is getting bigger…With the 4-colortm grip pro and the 4-colortm grip Fashion.

… while new pens for women appear ! new products complete the “bic For her” range launched last year. We launched a collection of ballpoint and gel pens for women, including the famous ballpoint pen bic® cristal®, which was feminized with a tinted barrel (pink, purple, blue, green or orange) and made thinner to fit more comfortably in a women’s hand.

Shavers even more innovativein 2011, bic launched 7 new shavers,

including bic® comfort® 3 advance, bic® Flex 4 and bic® Flex 3 for men and also bic® simply soleil® and the new hybrid shaver for women. some of

these new products (comfort® 3 advance and bic® Flex 3 in europe) are made with movable

blade technology. bic® soleil® bellatm features spring-mounted blades that move independently, to evenly distribute pressure

and absorb shocks during shaving, providing optimum contact with the skin and a blade that follows

every curve on the face and body.

New designs for Lighters, always combining quality AND safety each year, the group offers a range of new lighter sleeve designs. in 2011, the fashion is graphics!

AcQUiSitiON OF SOLOGEAR, maKer oF FlamedisK®, a portable charcoal-alternative heat source For grilling

bic corp., the u.s. subsidiary of the bic group, announced in april 2011 the acquisition of sologear llc, a middleton, Wisconsin based company. sologear is the maker of Flamedisk®, a portable charcoal-alternative heat source for grilling. bic also acquired sologear’s unique technology for solidifying ethanol.

a start-up company, sologear had 2010 sales of less than one million euros.

Bic AND tERRAcYcLE launched the First program For collecting and recycling Writing instruments in France

in march 2011, bic partnered with terracycle, a pioneering upcycling and recycling company, to organize the voluntary collection of writing instruments in the very places where they are used (schools, companies, universities…) so they can be recycled. consu-mers can follow these easy steps:

we recycle2

1Collect

your used pens

2 Euros cents are returned

3

penholder

basket

watering can

Ce fichier est un DOCUMENT TECHNIQUE D’ÉXÉCUTION construit avec des tons pantone (ou composés) recommandés pour l’impression:

le choix des tons directs et leurs équivalences reste à l’appréciation du photograveur en fonction des contraintes techniques. La sortie

laser de ce document ne fait pas référence pour les couleurs. Les défonces, filets de recouvrement et surimpression ne sont pas

pris en compte. Les fichiers “images” sont à considérer pour placement. Il est indispensable d’effectuer un travail de

photogravure suivant les contraintes de l’imprimeur. Pour les couleurs des illustrations et images, se référer à la sortie

maquette jointe, (laser de la création validée) ou au document donner par le client. EN CONSÉQUENCE, CE FICHIER NE CONSTITUE PAS UN FICHIER PRÊT À FLASHER.

IL EST OBLIGATOIRE DE PASSER PAR L’ÉTAPE DE LA PHOTOGRAVUREet de demander une épreuve contractuelle (cromalin, iris ou essais).

TONS RECOMMANDÉS (4)

CYAN MAGENTA JAUNE NOIR

ÉCHELLE 1/1 - UNITÉS MM

IMPRESSION à 75%

1 2 3 4 5 6 7 8 9 10

CARRÉ NOIR - 24, rue Salomon de Rothschild - 92288 Suresnes - FRANCE / Tél. : +33 (0)1 57 32 87 00 / Fax : +33 (0)1 57 32 87 87 / Web : www.carrenoir.com

BIC TCBIC_11_4019_AfficheA3R3 - Date : 19/04/2011

A NOUS RETOURNER SIGNÉE AVEC VOTRE ACCORD OU VOS CORRECTIONS

GH

CRÉATION

PRODUCTION

CONSULTANT

CLIENT + QUALITÉ*

ACCORD DATE

*La responsabilité de la validation des textes marketing et qualité appartient au client

from now on,

C O L L E C T I N G

R E C Y C L I N GI S

In partnership with Terracycle®, BIC recycles your used writing instruments and gives them a second life as another useful item, perhaps as a watering can, basket, or pen holder

Two euro cents per each collected writing instrument is donated to a charity or a chosen school.

we recycle2

1Collect

your used pens

2 Euros cents are returned

3

penholder

basket

watering can

Ce fichier est un DOCUMENT TECHNIQUE D’ÉXÉCUTION construit avec des tons pantone (ou composés) recommandés pour l’impression:

le choix des tons directs et leurs équivalences reste à l’appréciation du photograveur en fonction des contraintes techniques. La sortie

laser de ce document ne fait pas référence pour les couleurs. Les défonces, filets de recouvrement et surimpression ne sont pas

pris en compte. Les fichiers “images” sont à considérer pour placement. Il est indispensable d’effectuer un travail de

photogravure suivant les contraintes de l’imprimeur. Pour les couleurs des illustrations et images, se référer à la sortie

maquette jointe, (laser de la création validée) ou au document donner par le client. EN CONSÉQUENCE, CE FICHIER NE CONSTITUE PAS UN FICHIER PRÊT À FLASHER.

IL EST OBLIGATOIRE DE PASSER PAR L’ÉTAPE DE LA PHOTOGRAVUREet de demander une épreuve contractuelle (cromalin, iris ou essais).

TONS RECOMMANDÉS (4)

CYAN MAGENTA JAUNE NOIR

ÉCHELLE 1/1 - UNITÉS MM

IMPRESSION à 75%

1 2 3 4 5 6 7 8 9 10

CARRÉ NOIR - 24, rue Salomon de Rothschild - 92288 Suresnes - FRANCE / Tél. : +33 (0)1 57 32 87 00 / Fax : +33 (0)1 57 32 87 87 / Web : www.carrenoir.com

BIC TCBIC_11_4019_AfficheA3R3 - Date : 19/04/2011

A NOUS RETOURNER SIGNÉE AVEC VOTRE ACCORD OU VOS CORRECTIONS

GH

CRÉATION

PRODUCTION

CONSULTANT

CLIENT + QUALITÉ*

ACCORD DATE

*La responsabilité de la validation des textes marketing et qualité appartient au client

from now on,

C O L L E C T I N G

R E C Y C L I N GI S

In partnership with Terracycle®, BIC recycles your used writing instruments and gives them a second life as another useful item, perhaps as a watering can, basket, or pen holder

Two euro cents per each collected writing instrument is donated to a charity or a chosen school.

we recycle2

1Collect

your used pens

2 Euros cents are returned

3

penholder

basket

watering can

TONS RECOMMANDÉS (4)

ÉCHELLE 1/1 - UNITÉS MM

IMPRESSION à 75%

BIC TCBIC_11_4019_AfficheA3R3 - Date : 19/04/2011

GH

CRÉATION

PRODUCTION

CONSULTANT

CLIENT + QUALITÉ*

ACCORD DATE

from now on,

C O L L E C T I N G

R E C Y C L I N GI S

In partnership with Terracycle , BIC recycles your used writing instruments and gives them a second life as another useful item, perhaps as a watering can, basket, or pen holder

Two euro cents per each collected writing instrument is donated to a charity or a chosen school.

do you want to join the writing instrument collection brigade? please visit www.terracycle.fr

we recycle2

1Collect

your used pens

2 Euros cents are returned

3

penholder

basket

watering can

Ce fichier est un DOCUMENT TECHNIQUE D’ÉXÉCUTION construit avec des tons pantone (ou composés) recommandés pour l’impression:

le choix des tons directs et leurs équivalences reste à l’appréciation du photograveur en fonction des contraintes techniques. La sortie

laser de ce document ne fait pas référence pour les couleurs. Les défonces, filets de recouvrement et surimpression ne sont pas

pris en compte. Les fichiers “images” sont à considérer pour placement. Il est indispensable d’effectuer un travail de

photogravure suivant les contraintes de l’imprimeur. Pour les couleurs des illustrations et images, se référer à la sortie

maquette jointe, (laser de la création validée) ou au document donner par le client. EN CONSÉQUENCE, CE FICHIER NE CONSTITUE PAS UN FICHIER PRÊT À FLASHER.

IL EST OBLIGATOIRE DE PASSER PAR L’ÉTAPE DE LA PHOTOGRAVUREet de demander une épreuve contractuelle (cromalin, iris ou essais).

TONS RECOMMANDÉS (4)

CYAN MAGENTA JAUNE NOIR

ÉCHELLE 1/1 - UNITÉS MM

IMPRESSION à 75%

1 2 3 4 5 6 7 8 9 10

CARRÉ NOIR - 24, rue Salomon de Rothschild - 92288 Suresnes - FRANCE / Tél. : +33 (0)1 57 32 87 00 / Fax : +33 (0)1 57 32 87 87 / Web : www.carrenoir.com

BIC TCBIC_11_4019_AfficheA3R3 - Date : 19/04/2011

A NOUS RETOURNER SIGNÉE AVEC VOTRE ACCORD OU VOS CORRECTIONS

GH

CRÉATION

PRODUCTION

CONSULTANT

CLIENT + QUALITÉ*

ACCORD DATE

*La responsabilité de la validation des textes marketing et qualité appartient au client

from now on,

C O L L E C T I N G

R E C Y C L I N GI S

In partnership with Terracycle®, BIC recycles your used writing instruments and gives them a second life as another useful item, perhaps as a watering can, basket, or pen holder

Two euro cents per each collected writing instrument is donated to a charity or a chosen school.

Bic

4

About Bicbic is a world leader in stationery, lighters and shavers. For more than 60 years, bic has honored the tradition of providing high-quality, affordable products to consumers everywhere. through this unwavering dedication, bic has become one of the most recognized brands in the world. bic products are sold in more than 160 countries around the world. in 2010, bic recorded net sales of 1,831.5 million euros. the company is listed on “euronext paris” and is part of the sbF120 and cac mid 60 indexes. bic is also part of the following sri indexes: Ftse4good europe, aspi eurozone, ethibel excellence europe and carbon disclosure French leadership index 2010 (cdli).

shaReholdeRs’ meetiNg held on may 11, 2011the sociÉtÉ bic Joint extraordinary and ordinary annual shareholders’ meeting was held on Wednesday, may 11, 2011 in clichy (hauts-de-seine) and was chaired by mr. bruno bich, chairman of the board.

it approved all of the resolutions tabled, among them:• the financial statements for the full year 2010;• the payment, from May 25, 2011, of an ordinary dividend amount of €1.90 per share, up 35.7% compared to last year’s ordinary dividend;• authorizations given to the Board of Directors to undertake operations with regards to shares of the Company (share buy backs and cancellations); • the reappointment of François Bich, Marie-Pauline Chandon-Moët and Frédéric Rostand as directors of the board;• the renewal of the mandates of the statutory auditors and of the alternate auditors;• the insertion, into the articles of incorporation, of an age limit of 70 years old to exercise the functions of Chairman, Chief Executive Officer  and executive vice-presidents.

Dividend evolution

divideNde peR shaRe(in euros)

capital ownership (as of december 31, 2010)

Financial agenda August 3, 2011:

2nd Quarter and 1st half 2011 results October 19, 2011:

3rd Quarter and 9 months 2011 results

company’s details limited company capital: €183,167,277.18divided into 47,949,549 shares of common stock, per value €3.82552.008.443 nanterre

listed on: euronext paris isin : Fr0000120966 mnemonic: bb continuous quotation

BiC & you

* a special dividend of €1.00 per share was paid for year 2009. (1) treasury shares temporally without voting right.

BIC SBF 120 Financial data as of May 25, 2011.

Bic share price vs. SBF 120Rebased 100 at December 30, 2005

40

50

60

70

80

90

100

110

120

130

140

JAN.06

JAN.07

JAN.08

JAN.09

JAN.10

JAN.11

Bic share priceIn euros

30

35

40

45

50

55

60

65

70

JAN.06

JAN.07

JAN.08

JAN.09

JAN.10

JAN.11

iSF Share price at december 31, 2010: $64.32 average of the 30 last 2010 market days: $64.57

SOciété Bic – investor Relations 14, rue Jeanne d’asnières - 92611 clichy cedex www.bicworld.com - e-mail : actionnaires@bicworld.com

20102006 2007 2008 2009

1.30 1.35 1.35 1.40 *1.90

SEI

TOS

EI

toll free from France

blackrock5%

public46% bich Family of

which mbd43%

treasury shares(1)

1%silchester

international investor

5%