<SEC-DOCUMENT>0001140361-16-049229.txt : 20160129
<SEC-HEADER>0001140361-16-049229.hdr.sgml : 20160129
<ACCEPTANCE-DATETIME>20160129170024
ACCESSION NUMBER:		0001140361-16-049229
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160127
FILED AS OF DATE:		20160129
DATE AS OF CHANGE:		20160129

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			L Brands, Inc.
		CENTRAL INDEX KEY:			0000701985
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-WOMEN'S CLOTHING STORES [5621]
		IRS NUMBER:				311029810
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	BUSINESS ADDRESS:	
		STREET 1:		THREE LIMITED PKWY
		STREET 2:		P O BOX 16000
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43216
		BUSINESS PHONE:		6144157000

	MAIL ADDRESS:	
		STREET 1:		THREE LIMITED PARKWAY
		STREET 2:		P.O. BOX 16000
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIMITED BRANDS INC
		DATE OF NAME CHANGE:	20020613

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIMITED INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WEXNER ABIGAIL S
		CENTRAL INDEX KEY:			0001250041

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08344
		FILM NUMBER:		161374219

	MAIL ADDRESS:	
		STREET 1:		C/O L BRANDS, INC.
		STREET 2:		THREE LIMITED PARKWAY
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Wexner Leslie H.
		CENTRAL INDEX KEY:			0000901359

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08344
		FILM NUMBER:		161374220

	MAIL ADDRESS:	
		STREET 1:		C/O L BRANDS, INC.
		STREET 2:		THREE LIMITED PARKWAY
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43216

	FORMER NAME:	
		FORMER CONFORMED NAME:	WEXNER LESLIE H
		DATE OF NAME CHANGE:	19930420
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>FORM 4
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    <periodOfReport>2016-01-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000701985</issuerCik>
        <issuerName>L Brands, Inc.</issuerName>
        <issuerTradingSymbol>LB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000901359</rptOwnerCik>
            <rptOwnerName>Wexner Leslie H.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O L BRANDS, INC</rptOwnerStreet1>
            <rptOwnerStreet2>THREE LIMITED PARKWAY</rptOwnerStreet2>
            <rptOwnerCity>COLUMBUS</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>43216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman and CEO</officerTitle>
            <otherText></otherText>
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            <rptOwnerCik>0001250041</rptOwnerCik>
            <rptOwnerName>WEXNER ABIGAIL S</rptOwnerName>
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            <rptOwnerStreet1>LIMITED BRANDS INC</rptOwnerStreet1>
            <rptOwnerStreet2>THREE LIMITED PARKWAY</rptOwnerStreet2>
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            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2015-12-22</value>
            </transactionDate>
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                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <value>2016-01-27</value>
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            <expirationDate>
                <value>2026-01-27</value>
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                    <value>Common Stock</value>
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    <footnotes>
        <footnote id="F1">Not applicable.</footnote>
        <footnote id="F2">Owned by Leslie H. Wexner (&quot;Mr. Wexner&quot;) directly. Owned by Abigail S. Wexner (&quot;Mrs. Wexner&quot;) indirectly, through Mr. Wexner.</footnote>
        <footnote id="F3">See Exhibit 99.1 for a table of all non-derivative shares of the Issuer beneficially owned directly or indirectly by Mr. Wexner and Mrs. Wexner.</footnote>
        <footnote id="F4">Mr. Wexner and Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of their respective pecuniary interests therein.</footnote>
        <footnote id="F5">The performance condition of a performance-based restricted share unit (&quot;RSU&quot;) award previously granted to Mr. Wexner by the Issuer was satisfied on February 24, 2012, and then the RSUs vest generally based on his continued employment. The RSUs confer no voting rights and may not be sold until they automatically settle for an equivalent number of shares of common stock of the Issuer on the vesting date or dates.</footnote>
        <footnote id="F6">A portion of the RSUs vested on January 27, 2016.</footnote>
        <footnote id="F7">Reflects adjustments from antidilution etc. pursuant to the Issuer's stock plan.</footnote>
        <footnote id="F8">Vests in installments as follows, reflecting adjustments from antidilution etc. pursuant to the Issuer's incentive plan: 1/27/2013 - 57,241 shares; 1/27/2014 - 57,241 shares; 1/27/2015 - 87,443 shares; and 1/27/2016 - 89,365 shares, subject to earlier forfeiture or acceleration.</footnote>
        <footnote id="F9">Stock option granted to Mr. Wexner.</footnote>
        <footnote id="F10">The option vests in installments as follows: 1/27/2018 - 25,540 shares; 1/27/2019 - 25,540 shares; 1/27/2020 - 38,310 shares; and 1/27/2021 - 38,310 shares, subject to earlier forfeiture or acceleration.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Leslie H. Wexner</signatureName>
        <signatureDate>2016-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 216pt; TEXT-INDENT: -216pt"><u>Exhibit 99.1</u></div>

<div><br />
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<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name and Address of Reporting Person:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Leslie H. Wexner</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">c/o L Brands, Inc.</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Three Limited Parkway</div>
</td>
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<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Columbus, OH&#160; 43216</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Issuer Name and Ticker or Trading Symbol:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">L Brands, Inc. (LB)</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date of Earliest Transaction Required to be Reported (Month/Day/Year):</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1/27/2016</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Amount of</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Securities</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Beneficially</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Owned</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Following</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Reported</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>Transaction(s)</u></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Ownership</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Form:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Nature of Indirect</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>Beneficial Ownership</u></div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
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<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">15,954,371&#160; (6)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">D/I&#160; (2)</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2)</div>
</td>
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<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
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<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10,014,409</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">D/I&#160; (1)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(1)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
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<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1,257,255</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">I&#160; (4)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The Linden East Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8,992,886</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">I&#160; (3)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The Linden West Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4,892,608</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">I&#160; (3)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Wexner Personal Holdings Corporation</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">191,515</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">I&#160; (4)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The Beech Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1,851,959&#160; (5)(6)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.1pt">I&#160; (3)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Held in L Brands, Inc. Savings and Retirement Plan for Leslie H. Wexner&#8217;s account</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 18.3%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 25.36%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.93%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.72%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 28.26%">&#160;</td>
</tr>
</table>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">See Notes on next page.</div>

<div><br />
</div>

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<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div><br />
</div>

<table id="270ef1a907004a6bb1af50e53f80844c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name and Address of Reporting Person:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Leslie H. Wexner</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">c/o L Brands, Inc.</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Three Limited Parkway</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Columbus, OH&#160; 43216</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Issuer Name and Ticker or Trading Symbol:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">L Brands, Inc. (LB)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date of Earliest Transaction Required to be Reported (Month/Day/Year):</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 70%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1/27/2016</div>
</td>
</tr>
</table>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Notes</u></font>:</div>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="0e65a1a953d44ca0a0eec45aa2701b17" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Owned by Abigail S. Wexner (&#8220;Mrs. Wexner&#8221;) directly.&#160; Owned by Leslie H. Wexner (&#8220;Mr. Wexner&#8221;) indirectly, through Mrs. Wexner.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="ffcf8f6703994f19a9092c53389a6a68" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Owned by Mr. Wexner directly.&#160; Owned by Mrs. Wexner indirectly, through Mr. Wexner.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="fc576a1d0eb84a379591d0d33950a002" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Owned by Mr. Wexner indirectly.&#160; Owned by Mrs. Wexner indirectly, through Mr. Wexner.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="e9b45351254d4f29b547cdea32dcf199" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(4)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Owned by Mrs. Wexner indirectly.&#160; Owned by Mr. Wexner indirectly, through Mrs. Wexner.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="6b88e6d21b9c45cfa02231ac621b3271" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(5)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Based on account balance as of December 31, 2015.&#160; The Savings and Retirement Plan is a &#8220;qualified plan&#8221; within the meaning of Rule 16b-3.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="811f075c8c2d4a2c9ad2bf67d01fe3a9" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(6)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Reflects the transfer on October 8, 2015, of 55,058 shares from the Savings and Retirement Plan to Mr. Wexner (in a transaction exempt under Rule 16a-13).</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Mr. Wexner and Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of their respective pecuniary interests therein.</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">This Form does not report the shares of Common Stock owned by The Wexner Family Charitable Fund (for which each of Mr. and Mrs. Wexner serve as a director) because Mr. and Mrs. Wexner do not have a pecuniary interest in such shares, as the charitable fund is a tax exempt organization pursuant to IRC Section 501(c)(3).</div>

<div><br />
</div>

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</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>Joint Filer Information</u></div>

<div><br />
</div>

<table id="6eb2ce749ca84493b1a02de32f871324" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name of Joint Filer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Abigail S. Wexner</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Address of Joint Filer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">c/o L Brands, Inc.</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Three Limited Parkway</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Columbus, OH&#160; 43216</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Relationship of Joint Filer to Issuer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Director</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Issuer Name and Ticker or Trading Symbol:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">L Brands, Inc. (LB)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date of Earliest Transaction Required to be Reported (Month/Day/Year):</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1/27/2016</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Designated Filer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 60%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Leslie H. Wexner</div>
</td>
</tr>
</table>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Signature:</div>

<div><br />
</div>

<table id="a194449acf2643adbb4e53ac7f826eb7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; WIDTH: 25%">/s/ Abigail S. Wexner</td>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; WIDTH: 75%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 25%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Abigail S. Wexner</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 75%">&#160;</td>
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