Bath & Body Works, Inc. — Director's Dealing 2016

May 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: L Brands, Inc. (LB)
CIK: 0000701985
Period of Report: 2016-05-02

Reporting Person: MIRO JEFFREY H (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-02	Phantom Stock	$	A	423.0000	Acquired		Common Stock, $0.50 par value (423.0000)	Direct

Footnotes

F1: This award converts to common stock on a 1-for-1 basis.

F2: The shares of phantom stock become payable upon the reporting person's termination of service as a director.

F3: Total holdings include shares acquired in exempt dividend reinvestment transactions.