<SEC-DOCUMENT>0001140361-17-021592.txt : 20170519
<SEC-HEADER>0001140361-17-021592.hdr.sgml : 20170519
<ACCEPTANCE-DATETIME>20170519170016
ACCESSION NUMBER:		0001140361-17-021592
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170517
FILED AS OF DATE:		20170519
DATE AS OF CHANGE:		20170519

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:			0128

	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:		17858649

	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:		17858650

	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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    <periodOfReport>2017-05-17</periodOfReport>

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        <issuerName>L Brands, Inc.</issuerName>
        <issuerTradingSymbol>LB</issuerTradingSymbol>
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            <rptOwnerName>Wexner Leslie H.</rptOwnerName>
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            <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>true</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <officerTitle>Chairman and CEO</officerTitle>
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            <rptOwnerCik>0001250041</rptOwnerCik>
            <rptOwnerName>WEXNER ABIGAIL S</rptOwnerName>
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            <rptOwnerStreet2>THREE LIMITED PARKWAY</rptOwnerStreet2>
            <rptOwnerCity>COLUMBUS</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>43216</rptOwnerZipCode>
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    <footnotes>
        <footnote id="F1">The performance condition for a portion of a performance-based restricted stock unit (&quot;RSU&quot;) award previously granted to Leslie H. Wexner (&quot;Mr. Wexner&quot;) was satisfied on May 17, 2017, and such portion was vested and automatically settled for an equivalent number of shares of common stock of the Issuer on such date.</footnote>
        <footnote id="F2">Reflects adjustments from antidilution etc. pursuant to the Issuer's incentive plan.</footnote>
        <footnote id="F3">Not applicable.</footnote>
        <footnote id="F4">Owned by Mr. Wexner directly. Owned by Abigail S. Wexner (&quot;Mrs. Wexner&quot;) indirectly, through Mr. Wexner.</footnote>
        <footnote id="F5">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="F6">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>
    </footnotes>

    <remarks>Exhibit 99.1:   Joint Filer Information, incorporated herein by reference.</remarks>

    <ownerSignature>
        <signatureName>/s/ Leslie H. Wexner</signatureName>
        <signatureDate>2017-05-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Abigail S. Wexner</signatureName>
        <signatureDate>2017-05-19</signatureDate>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Leslie H. Wexner</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">c/o L Brands, Inc.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Three Limited Parkway</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">L Brands, Inc. (LB)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
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</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">D/I&#160; (2)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">(2)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,148,401</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">D/I&#160; (1)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">(1)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">10,000,000</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">I&#160; (4)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Magnolia 2017 Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">127,567</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">I&#160; (4)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">The Linden East Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">8,992,886</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">I&#160; (3)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">The Linden West Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,892,608</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">I&#160; (3)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Wexner Personal Holdings Corporation</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">191,515</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">I&#160; (4)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">The Beech Trust</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">&#160;</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 19.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Common Stock</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 27.61%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,900,346&#160; (5)</div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: center; WIDTH: 21.7%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">I&#160; (3)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Held in L Brands, Inc. Savings and Retirement Plan for Leslie H. Wexner&#8217;s account</div>
</td>
</tr>
</table>

<div><br>
</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 9pt; CLEAR: both; MARGIN-TOP: 9pt">
<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>

<table id="zfc636668633342638c78f1eca35ff9a4" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Name and Address of Reporting Person:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Issuer Name and Ticker or Trading Symbol:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Date of Earliest Transaction Required to be Reported (Month/Day/Year):</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">5/17/2017</div>
</td>
</tr>
</table>

<div><br>
</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="zffd6767fba5c43cbbfe2062d6cae08ab" class="DSPFListTable" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(1)</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">Owned by Abigail S. Wexner (&#8220;Mrs. Wexner&#8221;) directly.&#160; Owned by Leslie H. Wexner (&#8220;Mr. Wexner&#8221;) indirectly, through Mrs. Wexner.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="z630bdb323f0b47f0916b53ea3fc7cbd0" class="DSPFListTable" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(2)</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">Owned by Mr. Wexner directly.&#160; Owned by Mrs. Wexner indirectly, through Mr. Wexner.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="z987e574a7e2c4521abc840af45e14acd" class="DSPFListTable" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(3)</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">Owned by Mr. Wexner indirectly.&#160; Owned by Mrs. Wexner indirectly, through Mr. Wexner.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="z5019041fa7614ab8a261a72c4646196e" class="DSPFListTable" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(4)</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">Owned by Mrs. Wexner indirectly.&#160; Owned by Mr. Wexner indirectly, through Mrs. Wexner.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="zef37f2d54aee4112b03fc5a6e1351f0d" class="DSPFListTable" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: 21.6pt; align: right">(5)</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">Based on account balance as of April 30, 2017.&#160; The Savings and Retirement Plan is a &#8220;qualified plan&#8221; within the meaning of Rule 16b-3.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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', 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>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 9pt; CLEAR: both; MARGIN-TOP: 9pt">
<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 style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center"><u>Joint Filer Information</u></div>

<div><br>
</div>

<table id="z33a19f5c347c4be996dc7deae5bbc773" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Name of Joint Filer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Abigail S. Wexner</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Address of Joint Filer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Relationship of Joint Filer to Issuer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Director</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Issuer Name and Ticker or Trading Symbol:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', 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: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Date of Earliest Transaction Required to be Reported (Month/Day/Year):</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">5/17/2017</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Designated Filer:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 5%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 65%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Leslie H. Wexner</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: left">/s/ Abigail S. Wexner</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Abigail S. Wexner</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left"><u>May 19, 2017</u></div>
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