<SEC-DOCUMENT>0001104659-22-067695.txt : 20220602
<SEC-HEADER>0001104659-22-067695.hdr.sgml : 20220602
<ACCEPTANCE-DATETIME>20220602165637
ACCESSION NUMBER:		0001104659-22-067695
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20220602
DATE AS OF CHANGE:		20220602
EFFECTIVENESS DATE:		20220602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bath & Body Works, 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

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-265379
		FILM NUMBER:		22991653

	BUSINESS ADDRESS:	
		STREET 1:		THREE LIMITED PKWY
		STREET 2:		P O BOX 16000
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43230
		BUSINESS PHONE:		6144157000

	MAIL ADDRESS:	
		STREET 1:		THREE LIMITED PARKWAY
		STREET 2:		P.O. BOX 16000
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43230

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	L Brands, Inc.
		DATE OF NAME CHANGE:	20130322

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm2217210d1_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>As filed with the Securities
and Exchange Commission on June 2, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Registration No. 333-________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>UNITED
STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>REGISTRATION STATEMENT UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>BATH &amp; BODY WORKS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(Exact Name of Registrant as
Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>31-1029810</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of <BR>
Incorporation or Organization)</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(I.R.S. Employer <BR>
Identification Number)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.75in; text-align: center; text-indent: 0.25in"><B>Three Limited Parkway</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0in -0.5in; text-align: center; text-indent: 0in"><B>Columbus, Ohio 43230</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: center; text-indent: 0in"><B>Telephone: (614) 415-7000</B></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant&#8217;s Principal Executive Offices)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: center; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>BATH &amp; BODY WORKS, INC.
    ASSOCIATE STOCK PURCHASE PLAN</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(Full Title of the Plan)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Michael C. Wu</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Chief Legal Officer &amp;
    Corporate Secretary</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Bath &amp; Body Works, Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Three Limited Parkway</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Columbus, Ohio 43230</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Telephone: (614) 415-7000</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(Telephone number, including
    area code, of agent for service)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><I>&nbsp;</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><I>With a copy to:</I></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="background-color: white"><B>Samuel
    S. Choy</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="background-color: white"><B>Kevin
    E. Manz</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>King &amp; Spalding LLP</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>1185 Avenue of the Americas,
    34<SUP>th</SUP> Floor</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>New York, NY 10036</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>(212) 556-2222</B></P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221;
and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Large accelerated filer <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Accelerated filer <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Non-accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT>
    </B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Smaller reporting company <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Emerging growth company <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.</B></FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><FONT STYLE="font-family: Wingdings">&#168;</FONT></B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 62%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD></TR>
  </TABLE>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">PART I.</P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The registrant is filing this
registration statement on Form S-8 to register 2,400,000 shares of its common stock which have been reserved for issuance under the Bath
 &amp; Body Works, Inc. Associate Stock Purchase Plan (the &#8220;Plan&#8221;). The Plan was adopted by the Board of Directors of the registrant
on March 10, 2022, subject to approval by the registrant&#8217;s stockholders. At the registrant&#8217;s Annual Meeting of Stockholders
held on May 12, 2022, its stockholders approved the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information specified
in Item 1 and Item 2 of Part I of this Registration Statement on Form S-8 (this &#8220;Registration Statement&#8221;) is omitted from
this filing in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;),
and the introductory note to Part I of the Registration Statement on Form S-8. The documents containing the information specified in Part
I will be delivered to the participants in the Plan covered by this Registration Statement as required by Rule 428(b)(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">PART II.<FONT STYLE="font-size: 10pt"><BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item </TD><TD STYLE="text-align: justify">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">INCORPORATION OF DOCUMENTS BY REFERENCE</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Bath &amp; Body Works, Inc.
(the &#8220;Registrant&#8221;) and the Plan hereby incorporate by reference into this Registration Statement the following documents filed
with the Securities and Exchange Commission (the &#8220;Commission&#8221;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/701985/000070198522000009/bbwi-20220129.htm" STYLE="-sec-extract: exhibit">The Registrant&#8217;s Annual Report on Form 10-K for the fiscal year ended January 29, 2022 (the &#8220;Registrant Annual Report&#8221;), filed with the Commission on March 18, 2022;</A></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/701985/000070198522000017/bbwi-20220430.htm" STYLE="-sec-extract: exhibit">The Registrant&#8217;s Quarterly Report on Form 10-Q for the fiscal quarter April 30, 2022, filed with the Commission on June 2, 2022;</A></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
as amended (the &#8220;Exchange Act&#8221;), since the end of the fiscal year covered by the Registrant Annual Report; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The description of common stock, par value $0.50 per share, of the Registrant contained in the Registrant&#8217;s
Form 8 Amendment to its Form 8-A, filed with the Commission on September 1, 1989 pursuant to the Exchange Act, including any amendment
thereto or report filed for the purpose of updating such description.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All documents filed by
the Registrant or the Plan pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration
Statement and prior to the filing of a post-effective amendment that indicates that all securities offered hereby have been sold or
which deregisters all securities then remaining unsold, are incorporated by reference in this Registration Statement and are a part
hereof from the date of filing of such documents; except as to any portion of any future annual or quarterly report to stockholders
or document or current report furnished under current Items 2.02 or 7.01 of Form 8-K that is not deemed filed under such provisions.
Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified
or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will provide to you at
no cost, upon your written or oral request, copies of any report, proxy statement or other communication distributed by us to our stockholders
generally as well as a copy of any or all of the documents incorporated by reference in this Registration Statement (other than exhibits,
unless such exhibits are specifically incorporated by reference into such documents) filed pursuant to Section 15(d) of the Exchange Act.
Requests for copies and questions about the Plan and its administration should be directed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Bath &amp; Body Works, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Three Limited Parkway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Columbus, Ohio 43230</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Attention: Legal Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(614) 415-6400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item</TD><TD STYLE="text-align: justify">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">DESCRIPTION OF SECURITIES</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item</TD><TD STYLE="text-align: justify">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">INTERESTS OF NAMED EXPERTS AND COUNSEL</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item</TD><TD STYLE="text-align: justify">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">INDEMNIFICATION OF DIRECTORS AND OFFICERS</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant is a Delaware
corporation. Section 102(b)(7) of the Delaware General Corporation Law (the &#8220;DGCL&#8221;) enables a corporation to eliminate or
limit the personal liability of a director to the corporation or its stockholders for monetary damages for breach of the director&#8217;s
fiduciary duty, except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">for any breach of the director&#8217;s duty of loyalty to the corporation or its stockholders;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">pursuant to Section 174 of the DGCL (providing for liability of directors for unlawful payment of dividends or unlawful stock purchases or redemptions); or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">for any transaction from which the director derived an improper personal benefit.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In accordance with Section
102(b)(7) of the DGCL, the Amended and Restated Certificate of Incorporation of the Registrant includes a provision eliminating, to the
fullest extent permitted by the DGCL, the liability of the Registrant&#8217;s directors to the Registrant or its stockholders for monetary
damages for breach of fiduciary duties as director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 145(a) of the
DGCL empowers a corporation to indemnify any present or former director, officer, employee or agent of the corporation, or any
individual serving at the corporation&#8217;s request as a director, officer, employee or agent of another organization, who was or
is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by or in the right of the corporation), against expenses (including
attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection
with such action, suit or proceeding provided that such person acted in good faith and in a manner he or she reasonably believed to
be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his or her conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The DGCL provides that the
indemnification described above shall not be deemed exclusive of any other indemnification that may be granted by a corporation pursuant
to any by-law, disinterested directors&#8217; vote, stockholders&#8217; vote, agreement or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The DGCL also provides corporations
with the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation in a similar capacity for another corporation, partnership, joint
venture, trust or other enterprise, against any liability asserted against him or her in any such capacity, or arising out of his or her
status as such, whether or not the corporation would have the power to indemnify him or her against such liability as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In accordance with Section
l45(a) of the DGCL, the Registrant&#8217;s Amended and Restated Bylaws provide that every person who was or is a party or is threatened
to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative,
by reason of the fact that such person, or such person&#8217;s testator or intestate, is or was serving as a director or officer of the
Registrant or is or was serving at the request of the Registrant as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, or as a member of any committee or similar body, shall be indemnified to the fullest extent
permitted under the laws of Delaware against all expenses (including attorney&#8217;s fees), judgments, penalties, fines and amounts paid
in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding (including appeals) or
the defense or settlement thereof or any claim, issue or matter therein. Expenses incurred by a director or officer in defending such
an action, suit or proceeding may be paid by the Registrant in advance of the final disposition of such action, suit or proceeding <FONT STYLE="background-color: white">if
such indemnification and/or payment is approved by the vote of the stockholders or of the disinterested directors, or is, in the opinion
of independent legal counsel selected by the Board of Directors of the Registrant, to be made on behalf of an indemnitee who acted in
good faith and in a manner such person reasonably believed to be in, or not opposed to, the best interests of the Registrant</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the Registrant&#8217;s
officers and directors are insured under an officers and directors liability insurance policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the Registrant
has entered into separate indemnification agreements with certain of its current and former executive officers and directors. These indemnification
agreements provide officers and directors with contractual rights to indemnification and advancement and reimbursement of expenses, to
the fullest extent permitted under Delaware law, subject to certain exceptions contained in those agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item</TD><TD STYLE="text-align: justify">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">EXEMPTION FROM REGISTRATION CLAIMED</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item</TD><TD STYLE="text-align: justify">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-size: 10pt">EXHIBITS</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: 3.25pt; padding-left: 3.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit<BR>
 Number</B></FONT></TD>
    <TD STYLE="width: 85%; padding-right: 3.25pt; padding-left: 3.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/701985/000095010320009937/dp128284_ex0301.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">3.1*</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/701985/000095010320009937/dp128284_ex0301.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K, dated May 20, 2020), as amended by the Certificate of Amendment of the Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K dated August 3, 2021).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/701985/000110465922009006/tm224430d1_ex3-1.htm"><FONT STYLE="font-size: 10pt">3.2*</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/701985/000110465922009006/tm224430d1_ex3-1.htm"><FONT STYLE="font-size: 10pt">Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K dated January 28, 2022).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/701985/000095010322008474/dp172990_ex1001.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.1*</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/701985/000095010322008474/dp172990_ex1001.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Bath &amp; Body Works, Inc. Associate Stock Purchase Plan, dated as of May 12, 2022 (incorporated by reference to Exhibit 10.1 to the Registrant&#8217;s Current Report on Form 8-K dated May 13, 2022).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex5-1.htm"><FONT STYLE="font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex5-1.htm"><FONT STYLE="font-size: 10pt">Opinion of King &amp; Spalding LLP (filed herewith).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex15-1.htm" STYLE="-sec-extract: exhibit">15.1</A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex15-1.htm" STYLE="-sec-extract: exhibit">Letter of Awareness from Ernst &amp; Young LLP (filed herewith).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of Ernst &amp; Young LLP (filed herewith).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex5-1.htm"><FONT STYLE="font-size: 10pt">23.2</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex5-1.htm"><FONT STYLE="font-size: 10pt">Consent of King &amp; Spalding LLP (included in Exhibit 5.1).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">24.1</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">Power of Attorney of the Registrant (included on the signature pages of this Registration Statement).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex-filingfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">107.1</FONT></A></TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><A HREF="tm2217210d1_ex-filingfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Filing Fee Table (filed herewith).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3.25pt; padding-left: 3.25pt; text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">*Incorporated herein by reference</FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.35in">Item</TD><TD STYLE="text-align: justify">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">UNDERTAKINGS</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
undersigned Registrant hereby undertakes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective amendment to
this Registration Statement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities
offered would </FONT>not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation
of Registration Fee&#8221; table in this Registration Statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">To include any material information with respect to the Plan not previously disclosed in this Registration
Statement or any material change to such information in this Registration Statement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><I>provided</I>, <I>however</I>, that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of
the Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
Registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of
an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised
that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered hereunder, the Registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Columbus, State of Ohio, on the 2<SUP>nd</SUP> day of June, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9pt"><B>BATH &amp; BODY WORKS,
    INC.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9pt"><B>&nbsp;</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;/s/ Wendy C. Arlin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; width: 6%; text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; width: 39%; text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">Wendy C. Arlin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A>POWER OF ATTORNEY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">KNOW ALL PERSONS BY THESE
PRESENTS, that each person whose signature appears below constitutes and appoints Sarah E. Nash, Wendy C. Arlin and Michael C. Wu and
each of them, our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, to do any and all
acts and things and execute, in the name of the undersigned, any and all instruments which said attorneys-in-fact and agents may deem
necessary or advisable in order to enable Bath &amp; Body Works, Inc. to comply with the Securities Act of 1933, as amended, and any requirements
of the Securities and Exchange Commission in respect thereof, in connection with the filing with the Securities and Exchange Commission
of one or more registration statements on Form S-8 under the Securities Act of 1933, as amended, including, specifically, but without
limitation, power and authority to sign the name of the undersigned to any such registration statement, and any amendments to any such
registration statement (including post-effective amendments), and to file the same with all exhibits thereto and other documents in connection
therewith, with the Securities and Exchange Commission, to sign any and all applications, registration statements, notices or other documents
necessary or advisable to comply with applicable state securities laws, and to file the same, together with other documents in connection
therewith with the appropriate state securities authorities, granting unto said attorneys-in-fact and agents, and each of them, full power
and authority to do and to perform each and every act and thing requisite or necessary to be done in and about the premises, as fully
and to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, and any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and
on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; border-bottom: black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 38%; border-bottom: black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 31%; border-bottom: black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Sarah E. Nash</FONT></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Executive Chair and Interim Chief Executive Officer<BR>
(principal executive officer)</FONT></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Sarah E. Nash</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Wendy C. Arlin</FONT></TD>
    <TD ROWSPAN="3" STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer<BR>
(principal financial and principal accounting officer)</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Wendy C. Arlin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Patricia S. Bellinger</FONT></TD>
    <TD STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Patricia S. Bellinger</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Alessandro Bogliolo</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Alessandro Bogliolo</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Francis A. Hondal</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Francis A. Hondal</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Danielle M. Lee</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Danielle M. Lee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Michael G. Morris</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Michael G. Morris</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Juan Rajlin</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Juan Rajlin</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Stephen D. Steinour</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Stephen D. Steinour</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ James K. Symancyk</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-top: 0.25in; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">June 2, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: center; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">James K. Symancyk</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>



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<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2217210d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>EXHIBIT 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="white-space: nowrap; width: 99%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><IMG SRC="tm2217210d1_ex5-1img001.jpg" ALT="" STYLE="height: 23px; width: 300px"></B></FONT></P></TD>
    <TD STYLE="white-space: nowrap; width: 1%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">King&nbsp;&amp; Spalding LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1l80 Peachtree Street N.E.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Atlanta</FONT>,
    Georgia 30309-3521</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">www.kslaw.com</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;2, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bath&nbsp;&amp; Body Works,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Three Limited Parkway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Columbus, Ohio 43230</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have acted as counsel for Bath&nbsp;&amp; Body
Works,&nbsp;Inc., a Delaware corporation (the&nbsp;&ldquo;Company&rdquo;), in connection with the preparation and filing of the Registration
Statement on Form&nbsp;S-8 to be filed by the Company with the Securities and Exchange Commission (the &ldquo;Registration Statement&rdquo;)
under the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;). The Registration Statement relates to 2,400,000 shares (the &ldquo;Shares&rdquo;)
of the Company&rsquo;s common stock, par value $0.50 per share, to be issued pursuant to the Bath&nbsp;&amp; Body Works,&nbsp;Inc. Associate
Stock Purchase Plan (the &ldquo;ASPP&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In our capacity as counsel to the Company, we have
examined and relied upon the accuracy of original, certified, conformed or photographic copies of such records, agreements, certificates
and other documents as we have deemed necessary or appropriate to enable us to render the opinions set forth below. In all such examinations,
we have assumed the genuineness of signatures on original documents and the conformity to such original documents of all documents submitted
to us as certified, conformed or photographic copies and, as to certificates of public officials, we have assumed the same to have been
properly given and to be accurate. As to matters of fact material to this opinion, we have relied, without independent verification, upon
statements and representations of representatives of the Company and public officials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based upon the foregoing, and subject to the assumptions,
qualifications and limitations set forth herein, we are of the opinion that the Shares are duly authorized and, when issued upon the exercise
of options to purchase Shares under the ASPP, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This opinion is limited in all respects to the
General Corporation Law of the State of Delaware, and no opinion is expressed with respect to the laws of any other jurisdiction or any
effect that such laws may have on the opinions expressed herein. This opinion is limited to the matters stated herein, and no opinion
is implied or may be inferred beyond the matters expressly stated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bath&nbsp;&amp; Body Works,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;2, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This opinion is given as of the date hereof, and
we assume no obligation to update this opinion to reflect any facts or circumstances that may hereafter come to our attention or any changes
in any laws or regulations which may hereafter occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We consent to the filing of this opinion as an
exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent
is required under Section&nbsp;7 of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ King&nbsp;&amp; Spalding LLP</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>3
<FILENAME>tm2217210d1_ex15-1.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 5in"><B>EXHIBIT 15.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Shareholders and Board of Directors of Bath &amp; Body Works,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are aware of the incorporation by reference
in the Registration Statement (Form S-8) of Bath &amp; Body Works, Inc. for the registration of 2,400,000 shares of its common stock of
our report dated June 2, 2022, relating to the unaudited condensed consolidated interim financial statements of Bath &amp; Body Works,
Inc. that are included in its Form 10-Q for the quarter ended April 30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Ernst &amp; Young LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Grandview Heights, Ohio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 2, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>tm2217210d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>EXHIBIT 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public Accounting
Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference in
the Registration Statement (Form&nbsp;S-8) pertaining to the Bath &amp; Body Works, Inc. Associate Stock Purchase Plan of our reports
dated March 18, 2022, with respect to the consolidated financial statements of Bath &amp; Body Works, Inc., and the effectiveness of internal
control over financial reporting of Bath &amp; Body Works, Inc., included in its Annual Report (Form 10-K) for the year ended January
29, 2022, filed with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 50%">&nbsp;</TD>
  <TD STYLE="padding-left: 10pt; text-indent: -10pt">/s/ Ernst &amp; Young LLP</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Grandview Heights, Ohio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">June 2, 2022</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
<FILENAME>tm2217210d1_ex-filingfees.htm
<DESCRIPTION>EX-FILING FEES
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 107.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF FILING FEE TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registration Statement Under the Securities
Act of 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BATH &amp; BODY WORKS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Table I: Newly Registered Securities</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; border-bottom: Black 1pt solid">Security Type</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; border-bottom: Black 1pt solid">Security<BR>
 Class Title</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center">Fee <BR>
Calculation <BR>
or Carry<BR>
 Forward<BR>
 Rule</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center">Amount Registered</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center">Proposed<BR>
 Maximum<BR>
 Offering<BR>
 Price Per<BR>
 Share</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt; color: #231F20; font-weight: bold">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center">Proposed<BR>
 Maximum<BR>
 Aggregate<BR>
 Offering<BR>
 Price</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center">Fee Rate</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt; color: #231F20; font-weight: bold">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt; color: #231F20; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; font-weight: bold; text-align: center">Amount of<BR> Registration Fee</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt; color: #231F20; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 12%; font-size: 10pt; color: #231F20; text-align: center; padding-bottom: 1pt; padding-left: 5.75pt">Equity</TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 12%; font-size: 10pt; color: #231F20; padding-bottom: 1pt; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt; color: #231F20">Common Stock, $0.50 par value per share<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 12%; font-size: 10pt; color: #231F20; text-align: center; padding-bottom: 1pt; padding-left: 5.75pt">Rule 457(c) and Rule 457(h)</TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 12%; font-size: 10pt; color: #231F20; text-align: center; padding-bottom: 1pt; padding-left: 5.75pt">2,400,000 shares</TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: #231F20; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: #231F20; text-align: right">41.51</TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; color: rgb(35,31,32); text-align: left"><SUP>(2)</SUP>&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 6%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">$</TD>
    <TD STYLE="text-align: right; width: 6%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">99,624,000</TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: #231F20; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: #231F20; text-align: right">0.0000927</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #231F20; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">$</FONT></TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; text-align: right">9,235.15</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #231F20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="7" STYLE="font-size: 10pt; color: #231F20; text-align: center; padding-bottom: 1pt; padding-left: 5.75pt">Total Offering Amounts</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #231F20; padding-bottom: 1pt">$</TD>
    <TD STYLE="text-align: right; font-size: 10pt; color: #231F20; padding-bottom: 1pt; padding-left: 5.75pt">99,624,000</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; text-align: right">9,235.15</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #231F20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="7" STYLE="font-size: 10pt; color: #231F20; text-align: center; padding-bottom: 1pt; padding-left: 5.75pt">Total Fee Offsets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt; padding-left: 5.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #231F20; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #231F20; text-align: right">0.00</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #231F20; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="7" STYLE="font-size: 10pt; color: #231F20; text-align: center; padding-bottom: 2.5pt; padding-left: 5.75pt">Net Fee Due</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; padding-bottom: 2.5pt; padding-left: 5.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #231F20; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: #231F20; text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: #231F20; text-align: right">9,235.15</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: #231F20; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, this registration statement also
covers any additional shares of the registrant&#8217;s common stock that may become issuable under the above-named plan by reason of any
stock split, stock dividend or other similar transaction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Pursuant to Rule 457(c) and 457(h)(1) under the Securities Act, the proposed maximum offering price per
share and the proposed maximum aggregate offering price for the shares have been calculated solely for the purpose of computing the registration
fee on the basis of the average high and low prices of the Registrant&#8217;s Common Stock as reported on the New York Stock Exchange
on May 31, 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>



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