Bath & Body Works, Inc. — Director's Dealing 2021

May 29, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: L Brands, Inc. (LB)
CIK: 0000701985
Period of Report: 2021-05-27

Reporting Person: Bersani James L. (President - Real Estate)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-27	Common Stock, $0.50 par value	M	11638.0000	$41.8789	Acquired	198166.0000	Direct
2021-05-27	Common Stock, $0.50 par value	M	9260.0000	$54.2142	Acquired	207426.0000	Direct
2021-05-27	Common Stock, $0.50 par value	S	36458.0000	$69.2100	Disposed	170968.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-27	Stock Option - Right to Buy	$54.2142	M	9260.0000	Disposed	2024-03-31	Common Stock, $0.50 par value (9260.0000)	Direct
2021-05-27	Stock Option - Right to Buy	$41.8789	M	11638.0000	Disposed	2023-03-29	Common Stock, $0.50 par value (11638.0000)	Direct

Footnotes

F1: Price represents a weighted average of the sale price. Shares were sold at prices ranging from $68.61 to $69.55. Upon the request by the SEC staff, the Issuer, or a security holder of the Issuer, the reporting person will provide the full information about the number of shares sold at each separate price.

F2: Option vests 20% on each of the second and third anniversaries of the date of grant and 30% on each of the fourth and fifth anniversaries of the date of grant.