Statement of Changes in Beneficial Ownership (4)

---

Exhibit 99.1

Name and Address of Reporting Person:	Leslie H. Wexner
	c/o L Brands, Inc.
	Three Limited Parkway
	Columbus, OH  43216
Issuer Name and Ticker or Trading Symbol:	L Brands, Inc. (LB)
Date of Earliest Transaction Required to be Reported (Month/Day/Year):	1/27/2016

Title of Security		Amount of Securities Beneficially Owned Following Reported Transaction(s)		Ownership Form: Direct (D) or Indirect (I)		Nature of Indirect Beneficial Ownership
Common Stock		15,954,371  (6)		D/I  (2)		(2)
Common Stock		10,014,409		D/I  (1)		(1)
Common Stock		1,257,255		I  (4)		The Linden East Trust
Common Stock		8,992,886		I  (3)		The Linden West Trust
Common Stock		4,892,608		I  (3)		Wexner Personal Holdings Corporation
Common Stock		191,515		I  (4)		The Beech Trust
Common Stock		1,851,959  (5)(6)		I  (3)		Held in L Brands, Inc. Savings and Retirement Plan for Leslie H. Wexner’s account

See Notes on next page.

---

Name and Address of Reporting Person:	Leslie H. Wexner
	c/o L Brands, Inc.
	Three Limited Parkway
	Columbus, OH  43216
Issuer Name and Ticker or Trading Symbol:	L Brands, Inc. (LB)
Date of Earliest Transaction Required to be Reported (Month/Day/Year):	1/27/2016

Notes:

(1)	Owned by Abigail S. Wexner (“Mrs. Wexner”) directly.  Owned by Leslie H. Wexner (“Mr. Wexner”) indirectly, through Mrs. Wexner.

(2)	Owned by Mr. Wexner directly.  Owned by Mrs. Wexner indirectly, through Mr. Wexner.

(3)	Owned by Mr. Wexner indirectly.  Owned by Mrs. Wexner indirectly, through Mr. Wexner.

(4)	Owned by Mrs. Wexner indirectly.  Owned by Mr. Wexner indirectly, through Mrs. Wexner.

(5)	Based on account balance as of December 31, 2015.  The Savings and Retirement Plan is a “qualified plan” within the meaning of Rule 16b-3.

(6)	Reflects the transfer on October 8, 2015, of 55,058 shares from the Savings and Retirement Plan to Mr. Wexner (in a transaction exempt under Rule 16a-13).

Mr. Wexner and Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of their respective pecuniary interests therein.

This Form does not report the shares of Common Stock owned by The Wexner Family Charitable Fund (for which each of Mr. and Mrs. Wexner serve as a director) because Mr. and Mrs. Wexner do not have a pecuniary interest in such shares, as the charitable fund is a tax exempt organization pursuant to IRC Section 501(c)(3).

---

Joint Filer Information

Name of Joint Filer:	Abigail S. Wexner
Address of Joint Filer:	c/o L Brands, Inc.
	Three Limited Parkway
	Columbus, OH  43216
Relationship of Joint Filer to Issuer:	Director
Issuer Name and Ticker or Trading Symbol:	L Brands, Inc. (LB)
Date of Earliest Transaction Required to be Reported (Month/Day/Year):	1/27/2016
Designated Filer:	Leslie H. Wexner

Signature:

/s/ Abigail S. Wexner
Abigail S. Wexner
January 29, 2016
Date

---