Inferra AI / Company / SNY / Slides
Sanofi — Q3 2026 Results Presentation
Sanofi (SNY) · 51 slides · Filed Oct 30, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All SNY deck slides
Slide 1 — Results
Results Q3 2026 October 30, 2026 Finance Pipeline Business Strategy update Appendices
Slide 2 — Forward-looking statements
Forward-looking statements Investor Relations 2 This document contains forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions, and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future events and economic performance. Words such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “plan,” “can,” “contemplate,” “could,” “is designed to,” “may,” “might,” “potential,” “objective,” "attempt," “target,” “project,” "strategy," "strive," "desire," “predict,” “forecast,” “ambition,” “guideline,” "seek," “should,” “will,” "goal,” or the negative of these, and similar expressions are intended to identify forward-looking statements. Although Sanofi’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the US Food and Drug Administration or the European Medicines Agency, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates; the fact that product candidates if approved may not be commercially successful; unexpected regulatory actions or delays, or government regulation generally; authorities’ decisions regarding whether and when to approve a product candidate; political pressure in the United States to mandate lower drug prices including “most favored nation” pricing for State Medicaid programs; the future approval and commercial success of therapeutic alternatives; Sanofi’s ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, including future clinical data and analysis of existing clinical data relating to the product, including post marketing, unexpected safety, quality or manufacturing issues, competition in general; risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation; trends in exchange rates and prevailing interest rates, volatile economic and market conditions, cost containment initiatives and subsequent changes thereto, and the impact that global crises may have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the French Markets Authority (AMF) made by Sanofi, including those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi’s annual report on Form 20-F for the year ended December 31, 2025, or contained in our periodic reports on Form 6-K. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements contained herein. Brand names appearing in this presentation are trademarks of Sanofi and/or its affiliates. Not all trademarks related to products under development have been approved as of the date of this presentation by the relevant health authorities. Abbreviations used in the presentation are defined in the list of abbreviations. Finance Pipeline Business Strategy update Appendices
Slide 3 — Agenda
Agenda Investor Relations 3 Strategy update and business Belén Garijo Finance François Roger Pipeline Paulo Fontoura Q&A Presenters and Jamie Haney, Manuela Buxo, Thomas Grenier, and Thomas Triomphe 01 03 02 04 Finance Pipeline Business Strategy update Appendices
Slide 4 — priorities and
Strategy update: priorities and progress Finance Pipeline Business Strategy update Appendices
Slide 5 — Progressing strategy and executing with rigour
Progressing strategy and executing with rigour 1. Includes Lovenox/Clexane (enoxaparin) and other medicines with 2025 combined annual sales of c.€1.2 billion. If the divestment proceeds as expected the commercial transfer will begin in Q1 2027. 2. Loss of exclusivity. Investor Relations 5 Key strategic priorities • Strong commercial delivery ✓ • Cost discipline and solid, profitable growth ✓ Maximise performance • Confirmed focus on Immunology, Rare diseases, and Vaccines; other focus areas under review ✓ • Strengthened R&D leadership and sharper decision-making ✓ • Further simplified the business (e.g. divestment of legacy medicines to Cheplapharm1) ✓ • Continued to drive greater accountability, rigour, and excellence in execution ✓ Accelerate transformation Address Dupixent LoE2 and beyond • Expanded Regeneron alliance, enhancing early-stage immunology pipeline ✓ • Replenish broader pipeline via balanced internal/external innovation • Increased appetite for late-stage/commercial BD/M&A to secure scale beyond 2030 Finance Pipeline Business Strategy update Appendices
Slide 6 — Securing growth through and beyond Dupixent
Strong commercial performance ✓ Value created through BD/M&A over the last decade ✓ Strong balance sheet and financial resources ✓ Securing growth through and beyond Dupixent Investor Relations 6 Today 2026-2030 2030+ ambition Sustain and extend the revenue base from Dupixent leadership, launches, and Vaccines resilience Strengthen the organisation and R&D with greater scientific rigour, and leaner governance Leverage BD/M&A to drive growth and offset earnings impact of Dupixent LoE • Late-stage/commercial medicines in focus areas • Disciplined bolt-on acquisitions of phase 1/2 projects R&D transformation leading to increased productivity Internal R&D to become a larger source of innovation and complement external growth opportunities Improved pipeline to propel growth trajectory Finance Pipeline Business Strategy update Appendices
Slide 7 — Expansion of the alliance with Regeneron is a first step
Expansion of the alliance with Regeneron is a first step in igniting Sanofi’s innovation engine 1. Based on market research for atopic dermatitis and advanced-therapy penetration. 2. Sanofi market research, summer 2025. Assumes efficacy is not decreased by extended dosing. Investor Relations 7 Leading in immunology through the alliance and beyond Legacy Dupixent capabilities allow for faster patient uptake of follow-on molecules Leverage of commercial infrastructure Driving greater collaboration and transparency Litigations settled Fully human, next-generation long-acting mAbs with VelocImmune® proven technology Early-stage pipeline renewal in immunology IL4Rα IL4 IL4×IL13 Investment made with milestone-linked payouts Disciplined value creation Benefits expected to extend into the next decade Growing market with c.20% penetration in the US1 Physician and patient preference for sustained efficacy/safety with less-frequent dosing2 Sustained leadership in atopic dermatitis IL13 Finance Pipeline Business Strategy update Appendices
Slide 8 — Preparing now for the next decade
Preparing now for the next decade Investor Relations 8 2026-2030 2030+ Focused strategy on core areas of focus Capitalise on pipeline opportunities to diversify growth Pursue profitable growth driven by strong commercial execution and cost discipline Expect moderate impact on total sales when Dupixent LoE materialises Generate strong cash flow to enable late-stage/commercial BD/M&A As a first step, protect earnings and cash flow through Dupixent LoE, and beyond Leverage internal R&D engine to enhance late-stage pipeline Transform R&D and complement pipeline with early-stage bolt-on BD/M&A Finance Pipeline Business Strategy update Appendices
Slide 9 — Business
Business Finance Pipeline Business Strategy update Appendices
Slide 10 — €14.4bn
Pharma launches1 Q3: double-digit sales growth All percentage changes at CER. 1. ALTUVIIIO, Anxu, Ayvakit, Cablivi, Myqorzo, Nexviazyme, Qfitlia, Rezurock, Redemplo, Sarclisa, Tzield, Wayrilz, and Xenpozyme. Investor Relations 10 • Pharma launches Driven by ALTUVIIIO, Ayvakit, and Rezurock • Vaccines Impacted by the anticipated phasing in respiratory immunisation • Other medicines Driven by insulins, partly offset by divestments and legacy medicines • Dupixent Global strong demand growth, and in the US also extended benefit of operational improvements/ favourable gross-to-net price adjustments Dupixent Vaccines Other medicines €14.4bn +14.3% 5.7 +34.8% +31.4% 1.4 4.1 +5.9% 3.2 -6.6% Finance Pipeline Business Strategy update Appendices
Slide 11 — Launches: strong growth and now 15% of sales
Launches: strong growth and now 15% of sales All percentage changes at CER. 1. Consolidated from July 17, 2025. On a market pro-forma basis, Q3 2026 sales were $234m, an increase of 14.4% from $204m in Q3 2025. 2. Consolidated from February 10, 2026. On a market pro-forma basis, Q3 2026 sales were $144m, an increase of 60% from $90m in Q3 2025. Investor Relations 11 Sales (€m) Q3 631 408 211 2031 196 165 1252 70 63 42 30 19 8 3 1 Anxu 1 €2,176m +19.2% NEW NEW NEW NEW NEW Finance Pipeline Business Strategy update Appendices
Slide 12 — Immunology: Dupixent on a >€20bn a year trajectory
504 588 579 723 3,073 4,376 Q3 2025 Q3 2026 Immunology: Dupixent on a >€20bn a year trajectory All percentage changes at CER. 1. Excludes Kevzara; Q3 2026 sales were €222m, an increase of 67.9% from €131m in Q3 2025. 2. IQVIA SMART patient insights edition H2 2025 weekly average NBRx through July 16, 2026. Investor Relations 12 US: primarily driven by strong demand, and by an extended benefit from operational improvements which resulted in favourable gross-to-net price adjustments #1 biologic medicine prescribed by dermatologists, pulmonologists, allergists, and ENTs2 >1.5 million patients globally Rest of World +22.6% 4,156 US +40.2% 5,687 +34.8% Europe +16.1% Sales (€m)1 Europe, Rest of World: growth across reimbursed indications and from larger markets in Europe, including Germany, France, and the UK. Rest of World growth mainly from Japan, Canada, Brazil, and China Finance Pipeline Business Strategy update Appendices
Slide 13 — Rare diseases: sustained growth from ALTUVIIIO and Ayvakit
Rare diseases: sustained growth from ALTUVIIIO and Ayvakit All percentage changes at CER. 1. Mast cell and other: Anxu, Ayvakit, Myqorzo, and Redemplo. 2. Rare blood: Alprolix, ALTUVIIIO, Cablivi, Eloctate, Qfitlia, and Wayrilz. 3. Lysosomal storage: Aldurazyme, Cerdelga, Cerezyme, Elaprase, Fabrazyme, Myozyme, Nexviazyme/Nexviadyme, and Xenpozyme. Investor Relations 13 Mast cell and other Strong demand for Ayvakit driven by number of patients treated and duration of treatment across indolent and advanced systemic mastocytosis Rare blood Growth primarily from launches, including ALTUVIIIO, Cablivi, Qfitlia, and Wayrilz Lysosomal storage Continued growth limited by short-term supply constraints 960 995 591 722 137 208 Q3 2025 Q3 2026 +12.6% Rare blood2 +21.0% Lysosomal storage3 +2.3% Mast cell and other1 +48.9% 1,688 1,925 Sales (€m) Finance Pipeline Business Strategy update Appendices
Slide 14 — Vaccines: impacted by flu phasing, maintaining FY expectation1
Vaccines: impacted by flu phasing, maintaining FY expectation1 All percentage changes at CER. 1. Low single-digit decline in sales anticipated for the full-year 2026. Investor Relations 14 Influenza, COVID-19 Phasing and continued influenza competitive pricing pressure Beyfortus Lower US CDC order versus last year, partly offset by US private market and Europe, Rest of World performance PPH primary and boosters, including Heplisav-B Strong performance driven by Heplisav-B and PPH benefiting from a low comparison basis 642 823 451 476 739 631 1,525 1,256 Q3 2025 Q3 2026 Beyfortus -15.4% Meningitis, travel, and endemic +4.2% PPH, Heplisav-B +24.9% Influenza, COVID-19 -18.8% -6.6% 3,357 3,185 Sales (€m) Finance Pipeline Business Strategy update Appendices
Slide 15 — Finance
Finance Finance Pipeline Business Strategy update Appendices
Slide 16 — Q3: strong quarter
Q3: strong quarter All percentage changes at CER. 1. At actual exchange rates. Investor Relations 16 Sales Double-digit growth led by Dupixent and launches, partly offset by vaccines phasing dynamics Underlying growth c.12% Business gross margin +2.1pp driven by product mix and pricing effects Operating expenses Stable, +6.6% YTD: in line with FY ambition Business operating income Increase due to strong sales growth and operating leverage, partially offset by profit sharing/end of development balance Effective tax rate Stable, in line with FY ambition of c.21% Business EPS +19.6%, ahead of sales growth (€m) Q3 2025 Q3 2026 Change Net sales 12,434 14,444 +14.3% Business gross profit 9,815 11,698 +17.2% Business gross margin 78.9%1 81.0%1 +2.1pp R&D -1,834 -1,849 -0.1% SG&A -2,291 -2,309 -0.9% Operating expenses -4,125 -4,158 -0.6% Percentage of net sales 33.2%1 28.8%1 -4.4pp Other operating income and expenses -1,303 -2,168 +64.4% Business operating income 4,445 5,430 +19.7% Business operating margin 35.7%1 37.6%1 +1.9pp Effective tax rate 19.3% 20.4% +1.1pp Total business net income 3,547 4,255 +17.6% Average number of shares, million 1,218.1 1,200.0 -1.5% Business EPS 2.91 3.55 +19.6% Finance Pipeline Business Strategy update Appendices
Slide 17 — Business dynamics to consider
Investor Relations 17 All percentage changes and guidance/ambitions at CER. Barring unforeseen events. For full-year 2026, and based on October 2026 average currency exchange rates, a currency impact of approximately -1% on sales and -1% on business EPS is anticipated. Subject to closing of the transactions. 1. Excludes any potential divestment of the Medley generics business in Brazil. Please see the Q2 2025 results press release, page 10, for details. 2. For additional details, please refer to the slide 33. 3. Based on Sanofi Vara consensus. 4. Before share buyback. 5. Please see the Q3 2026 results press release, page 2, for details. Business dynamics to consider Sales • Divestments of other medicines: c.€200m (sales impact)1 • Vaccines: low single-digit decline Business gross margin Increase Operating expense control • R&D: moderate increase • Sales and marketing: increase to support growth/launches • G&A: stable (before exceptional items) Other operating income/expenses • Capital gains (divestments): c.€250m • Profit sharing increasing faster than sales growth • REGN development balance2: decrease by c.€500m over 2025 • Amvuttra royalty2: increase by c.€500m3 over 2025 Effective tax rate c.21% 2026 P&L Early considerations • Continued demand-driven growth • Expect return to normal pattern of slightly negative pricing in 2027 • Divestments (incl. Cheplapharm5 and Medley): c.€1.3bn (sales impact) 2027 2026 Guidance upgraded (at CER) Sales growth Business EPS growth low-teens percentage mid-teens percentage4 Finance Pipeline Business Strategy update Appendices
Slide 18 — Drive strong cash-flow generation to enable disciplined capital
Drive strong cash-flow generation to enable disciplined capital allocation, including for BD/M&A 1. At constant exchange rates and as announced at Q2 2026 results. Industry-leading growth until 2030 Accelerate profitable growth Strong balance sheet 2030 expected sales 1 Low leverage as of today Intention to retain strong credit rating Intention to continue increasing dividend year-on-year Steady gross margin improvement Strong commercial execution Operational excellence and cost discipline Investor Relations 18 Dupixent Launches Vaccines Resilient base business c.€25bn c.€10bn c.€9bn Finance Pipeline Business Strategy update Appendices
Slide 19 — Pipeline
Pipeline Finance Pipeline Strategy update Appendices Business
Slide 20 — R&D: initial reflections from the first eight weeks
R&D: initial reflections from the first eight weeks Investor Relations 20 • Leverage research platforms; maintain strategic priorities • Accelerate deployment and integration of AI • Identify key constraints and opportunities to optimise discovery, including increased funding • Expand access to innovation, including in China • Place data and science first; expand use of adaptive clinical study designs • Greater customer/physician engagements to capture insights • Right-size internal capabilities and external expertise • Balanced-risk pipeline; a few high-risk/high-return opportunities and most at manageable risk Continue strategic portfolio assessment, prioritise focus areas while pursuing a few moonshots Research Development Implications for global R&D Strengthen decision-making with technical reviews to improve quality Increase talent density in focus areas Act decisively to build a sustainable pipeline + Finance Pipeline Business Strategy update Appendices
Slide 21 — R&D: future-oriented approach to the current pipeline
R&D: future-oriented approach to the current pipeline Investor Relations 21 Development projects across Pharma and Vaccines Immunology Rare diseases Oncology Neurology Vaccines Phase 3 6 6 3 3 2 20 Phase 1 3 1 3 0 6 13 Regulatory 0 1 1 0 2 4 AI to expand the breadth of innovation and accelerate science 61 projects 36 new molecules 9 4 4 5 14 Examples of current focus areas Accelerate discovery: identify targets, screen combinations, improve translational efficiency, generate AI-designed candidates Enable data-driven decisions: process information faster, iterate experimentations Improve success rates: automation to drive probability of success, predict efficacy, and reduce cycle timeline Fully integrated agent at scale: benefit internally, expand partnerships Chinese ecosystem to open doors to innovation Focus on translational efficiency: fast and streamlined translational approaches, quick proof of concept Upscale clinical data: enable rapid study recruitments and collection of health data Accelerate patients’ access: faster clinical timelines and lower costs Build strong, deep connections with local biotech: across commercial and clinical collaborations Phase 2 11 3 2 3 5 24 Finance Pipeline Business Strategy update Appendices
Slide 22 — Pipeline: Q3 highlights
Pipeline: Q3 highlights Investor Relations 22 Ayvakit indolent systemic mastocytosis, 50 mg (US) MenQuadfi meningococcal disease, six weeks+ (EU) Regulatory approvals Teizeild stage 2 T1D, one to seven years (EU) Regulatory acceptance Beyfortus RSV, 2nd season (CN priority review) SP0289 influenza H5 pandemic (EU PRIME) Regulatory designations Finance Pipeline Business Strategy update Appendices
Slide 23 — Pipeline: Regeneron agreement brings next-generation mAbs
Pipeline: Regeneron agreement brings next-generation mAbs Investor Relations 23 long-acting IL13 mAb (REGN20423) Phase 1 in atopic dermatitis Blocks ligand with longer half-life enabling potential Q3M-Q6M dosing intervals Registration-enabling studies expected in late 2027/early 2028 long-acting IL4xIL13 bispecific mAb Preclinical, across type-2 diseases Dual IL4/IL13 pathway blockade in a single long-acting molecule Phase 1 expected in 2027 long-acting IL4Rα mAb Preclinical, across type-2 diseases Dupixent successor through same target, potential for improved properties Phase 1 expected in 2027 long-acting IL4 mAb Preclinical, across type-2 diseases Dual IL4/IL13 pathway blockade, potential to be used in combination Phase 1 expected in 2027 lunsekimig IL13xTSLP Nanobody® VHH Ongoing phase 2/3 in COPD Demonstrated positive benefits on lung function in phase 2 asthma and CRSwNP Phase 2/3 readout in COPD expected in 2029 OPTION Finance Pipeline Business Strategy update Appendices
Slide 24 — Research: progress on replenishing early-stage innovation
Priorities Major sites Platforms Phase 1 starts Biologics • antibodies • Nanobody® • multi-specifics 1 3 4 5 1 1 2024 2025 2026 2027 2028 Pharma Vaccines 6 4 7 Ambition to start 12–15 programmes Synthetics • e.g. small molecules Genomics • viral delivery • non-viral delivery c.1,350 in Pharma c.350 in Vaccines of which c.60% in the EU c.40% in the US c.1% in China Colleagues Deliver sustainable, high-quality portfolio Strengthen pipeline in focus areas Continue some opportunistic work in white spaces (e.g. ophthalmology) Raise productivity to sustainably start 12-15 FIH programmes annually: • Balanced 50/50 internal/external mix • Balanced risk/opportunity mix Increase sourcing from China Secure upper quartile performance on speed and cost Research: progress on replenishing early-stage innovation Investor Relations 24 France (Lyon, Montpellier, Vitry) Germany (Frankfurt) US (Cambridge, Waltham, MA) China (Suzhou) Finance Pipeline Business Strategy update Appendices
Slide 25 — Development: robust decision-making based on data
AD programme Decision not to proceed with global regulatory submissions based on the overall benefit-risk profile COPD and CRS programmes Discontinuation of the clinical development based on clinical study results and the competitive landscape phase 2/3 studies COPD phase 2 high-risk asthma Continuation of ongoing studies, supported by phase 2 benefits in moderate-to-severe asthma, however differentiation unclear lifecycle management IBD programme Ongoing discussions on potential additional indications, efforts to ensure benefits, differentiation, and access to patients phase 3 studies RMS, SPMS Optimisation of studies, including longer treatment duration to ensure sufficient events are captured to enhance power and effect Germany limited launch under risk management plan Encouraging initial feedback but no plans to expand development programme at this stage Development: robust decision-making based on data Investor Relations 25 amlitelimab itepekimab lunsekimig duvakitug frexalimab Cenrifki Finance Pipeline Business Strategy update Appendices
Slide 26 — Pipeline: key mid- and late-stage development projects
Pipeline: key mid- and late-stage development projects As of September 30, 2026. A check mark indicates the availability of the first data for/achievement of the clinical development milestone mentioned in the box; green colour indicates primary endpoint(s) met; red cross indicates phase 3 primary endpoint not met. Investor Relations 26 Immunology Vaccines with partner wholly owned Neurology Rare diseases riliprubart frexalimab phase 3 CIDP (VITALIZE) phase 3 RMS, SPMS Fluzone HD under review flu 50 years+ (US, EU) SP0202 phase 3 pneumococcal disease children SP0218 phase 3 yellow fever SP0256 phase 2 RSV+HMPV older adults SP0289/SP0335 phase 2 flu H5 pandemic SP0087 phase 3 rabies phase 2 MC SAR444336 (non-beta IL2) phase 2 HS brivekimig phase 3 CD/UC ongoing duvakitug phase 2 asthma, CRSwNP LCM COPD lunsekimig SAR445399 (IL1R3 mAb) phase 2 inflammatory efdoralprin alfa Wayrilz approved ITP (US, EU, JP) LCM IgG4-RD, wAIHA under review GD3 (US priority, EU, JP) phase 2 AATD phase 3 SM venglustat elenestinib SP0268 phase 2 acne Finance Pipeline Business Strategy update Appendices
Slide 27 — Pipeline: upcoming news flow
Nexviazyme – IOPD (US) Dupixent – CSU children (JP) SP0087 – rabies (US) venglustat – GD3 (US) Fluzone HD – flu 50y+ (US) SP0087 – rabies (EU) Pipeline: upcoming news flow As of September 30, 2026. Key pipeline news flow only. Investor Relations 27 Q4 2026 2027 2028 Dupixent Q4W – asthma (US) riliprubart – CIDP (US, EU) Anxu – cGVHD, 3L (CN) Sarclisa – MM, TE (HD7) (US) Redemplo – severe HTG (CN) SP0218 – yellow fever (EU) Myqorzo – nHCM (CN) Dupixent – AFRS (JP) fitusiran – haem A/B (EU, JP) venglustat – GD3 (EU, JP) efdoralprin alfa – AATD (US) Sarclisa – SC (CN) Fluzone HD – flu 50y+ (EU) phase 3 data readout [ regulatory submission phase 2 data readout regulatory decision fitusiran – haemophilia A/B lunsekimig – asthma high-risk riliprubart – CIDP brivekimig – HS SP0202 – PCV Anxu – cGVHD, 3L SP0218 – yellow fever duvakitug – ulcerative colitis Wayrilz – IgG4-RD frexalimab – RMS, SPMS Wayrilz – wAIHA Sarclisa – smouldering MM Sarclisa – MM, TE (HD7) Wayrilz – IgG4-RD (US, EU) frexalimab – RMS, SPMS Wayrilz – wAIHA (US, EU) SP0202 – PCV (US, EU) Sarclisa – smouldering MM SP0218 – yellow fever (US) Finance Pipeline Business Strategy update Appendices
Slide 28 — Q&A session
To ask a question Click on the Raise hand icon Check your audio device is well connected By Zoom Raise and lower your hand: dial *9 Unmute and mute your microphone: dial *6 By phone Any problems? Email us: [email protected] Q&A session Finance Pipeline Business Strategy update Appendices
Slide 29 — Appendices
Appendices Strategy, Finance, and ESG Finance Strategy update Appendices Business Pipeline Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 30 — Sanofi: a biopharma company
Pipeline Ongoing R&D and pipeline expansion • internal research • external licensing, M&A Focus on Immunology, Rare diseases, and Vaccines. Selectively in Oncology, Neurology, and Ophthalmology Key platforms in Nanobody® molecules, antibodies, gene therapies, and vaccines, incl. mRNA Business Global presence and manufacturing footprint with commercial strength1 c.37% Immunology c.15% Rare diseases c.18% Vaccines c.30% Other Strategic and durable with an emphasis on biologics1 c.13%2 Launches c.51% US c.21% Europe c.28% RoW Continued 2026 sales and business EPS growth3 • sales: low-teens percentage • bEPS: mid-teens percentage Clear capital deployment priorities; 31 years of dividend increases Sustainability strategy focused on access, impact on environment, and resilience of healthcare systems Financials and ESG Sanofi: a biopharma company 1. Based on 2025 sales of €43,626m. 2. Included in Rare diseases, Vaccines, and Other. 3. At constant exchange rates. Investor Relations 30 Biopharmaceutical company committed to improving people’s lives Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 31 — Leverage existing
Dupixent: multiple options for continued value creation Investor Relations 31 Potential to extend Dupixent dosing interval (to Q4W) to improve patient convenience: • higher dose (asthma); development currently ongoing • co-formulation; clinical studies to start in H2 2026 Extend Innovate Potential to pursue additional molecules Defend Robust patent portfolio of issued patents and pending applications with expiration dates from 2031 to 2045 Vigorous defence planned with expectation to protect Dupixent innovations beyond the US compound patent expiration (March 2031) Leverage existing alliance infrastructure Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 32 — Pursuing what is possible for rare disease patients
Pursuing what is possible for rare disease patients Investor Relations 32 Three pillars creating one integrated approach, purpose-built for patient impact: to reach more patients, faster, across more communities Anxu Catalysts for the Rare Ecosystem 1 Innovators with Impact 2 Pioneers in Therapeutic Possibilities 3 Rare blood Lysosomal storage Mast cell and other • haemophilia A and B • immune thrombocytopenia • acquired thrombotic thrombocytopenic purpura • Gaucher disease • Fabry disease • Pompe disease (infantile- and late-onset) • mucopolysaccharidosis type I • acid sphingomyelinase deficiency • indolent/advanced systemic mastocytosis • obstructive hypertrophic cardiomyopathy • myelofibrosis • familial chylomicronaemia symptoms Further indications in the pipeline • IgG4-related disease • sickle cell disease • warm autoimmune haemolytic anaemia • Gaucher disease type 3 • non-obstructive hypertrophic cardiomyopathy • alpha-1 antitrypsin deficiency emphysema • myotonic dystrophy type 1 Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 33 — Other operating income and expenses
Other operating income and expenses 1. As of December 31, 2025, the “development balance” amounted to €0.5bn at closing rate. 2. Development balance was fully reimbursed from Q2 2026. Development balance reimbursement amount impacted by depreciation of USD vs. EUR and rounding effects. 3. Alnylam medicine. 4. Royalty details: 15% from $0-$150m; 17.5% from $150m-$300m; 20% from $300m-$500m; 25% from $500m-$1.5bn; and 30% above $1.5bn. Quarterly royalties are estimated using prior quarter actual sales and adjusted when final figures are received, with true-up adjustments recorded one quarter later. 5. Actuals for 2023, 2024 and 2025 at annual actual exchange rate and Sanofi Vara consensus for the 2026-2030 timeframe. Investor Relations 33 0.6 1.0 1.4 Regeneron development balance reimbursement (€bn) Amvuttra® royalty5 (€bn) 2023 2024 20251 20262 2027 0 -0.5 -0.6 2023 2024 2025 2026 2027 0.1 0.2 0.5 0.7 0.8 +0.4 +0.5 1.1 • Development balance fully reimbursed at the end of Q2 2026 • Approved for transthyretin amyloid cardiomyopathy (US, EU) • Royalty on global net sales in all indications (30% on sales above $1.5bn)4 Reimbursement of development balance by Regeneron Amvuttra® royalty3 2028 2029 2030 1.7 1.9 2.1 Indicative (Sanofi estimates) Indicative (Sanofi Vara consensus) BOI impact BOI impact Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 34 — Currency impact
Currency impact Investor Relations 34 Sales (€m) Business EPS (€) -578 -667 -733 -172 +228 -0.17 -0.13 Q3 Q4 Q1 2025 Q2 -0.16 Q3 2026 Q3 Q4 Q1 2025 Q2 Q3 2026 -0.03 +0.07 Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 35 — Acting for nature: Sanofi accelerates shift away from quality
Acting for nature: Sanofi accelerates shift away from quality testing based on the horseshoe crab Investor Relations 35 Assessment: key risks from dependencies Pig derivatives Palm oil derivatives Cattle derivatives Horseshoe crab blood specific exposure in quality testing Continued commitment Reduce dependence on natural resources Preserve biodiversity Horseshoe crab adaptation plan Transition to synthetic testing methods: key milestone by end-2030¹, with full roll-out extending beyond Strengthening resilience to nature-related disruptions 1. By end-2030, the synthetic methods will be in use for water and utilities testing, representing 70% of total tests at Sanofi sites, and 100% of new launches will be submitted with the synthetic methods. Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 36 — Appendix
Appendix Pipeline Finance Strategy update Appendices Business Pipeline Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 37 — Pipeline: registration and phase 3
Pipeline: registration and phase 3 As of September 30, 2026. For collaborations, please see slide 48. For abbreviations, please see slide 49. Children and adolescents’ indication extensions are not included. 1. Also known as SP0178. 2. Also known as SAR443765. 3. Also known as SAR441344. 4. Also known as SAR445088. Investor Relations 37 Phase 3 Registration venglustat oral GCS inhibitor Gaucher disease type 3 (US, EU, JP) Sarclisa CD38 mAb subcutaneous multiple myeloma (CN) Fluzone HD1 multivalent inactivated influenza 50 years+ (US, EU) SP0087 vero cell rabies (EU) Neurology frexalimab3 CD40L mAb relapsing multiple sclerosis non-relapsing secondary progressive multiple sclerosis riliprubart4 C1s mAb IVIg-treated chronic inflammatory demyelinating polyneuropathy Oncology Sarclisa CD38 mAb newly diagnosed multiple myeloma, transplant eligible (HD7) newly diagnosed multiple myeloma, transplant eligible (IsKia) smouldering multiple myeloma (ITHACA) Vaccines SP0202 21-valent conjugate pneumococcal disease (children) SP0218 vero cell yellow fever Immunology Dupixent IL4R mAb chronic pruritus of unknown origin duvakitug TL1A mAb Crohn’s disease ulcerative colitis lunsekimig2 IL13xTSLP Nanobody® VHH chronic obstructive pulmonary disease Rezurock ROCK2 inhibitor chronic lung allograft dysfunction frexalimab3 CD40L mAb kidney transplant rejection Rare diseases Nexviazyme enzyme replacement therapy infantile-onset Pompe disease (US) elenestinib D816V-mutated KIT inhibitor indolent/smouldering systemic mastocytosis fitusiran RNAi targeting antithrombin haemophilia A and B (EU, JP) Wayrilz BTK inhibitor sickle cell disease IgG4-related disease warm autoimmune haemolytic anaemia Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 38 — Pipeline: phase 2
Immunology brivekimig TNFaxOX40L Nanobody® VHH Crohn’s disease hidradenitis suppurativa stage 3 type 1 diabetes ulcerative colitis frexalimab2 CD40L mAb stage 3 type 1 diabetes lunsekimig3 IL13xTSLP Nanobody® VHH asthma asthma, high-risk chronic rhinosinusitis with nasal polyps SAR4490285 wild-type KIT inhibitor chronic urticaria SAR444336 non-beta IL2 SynthorinTM microscopic colitis SAR4453996 IL1R3 mAb hidradenitis suppurativa Pipeline: phase 2 As of September 30, 2026. For collaborations, please see slide 48. For abbreviations, please see slide 49. Children and adolescents’ indication extensions are not included. 1. Also known as SAR441566. 2. Also known as SAR441344. 3. Also known as SAR443765. 4. Also known as SAR445088. 5. Also known as BLU-808. 6. Also known as MAB212, in-licensed from MAB Discovery. 7. Also known as SAR447537, formerly known as INBRX-101. 8. Also known as KD050. 9. Formerly known as VG-3927. 10. Also known as VXB-251 Investor Relations 38 Rare diseases Wayrilz BTK inhibitor Graves’ disease efdoralprin alfa7 AAT fusion protein alpha-1 antitrypsin deficiency emphysema frexalimab rilzabrutinib brivekimig CD40L mAb BTK inhibitor TNFaxOX40L Nanobody® VHH focal segmental glomerulosclerosis/ minimal change disease Vaccines SP0256 mRNA respiratory syncytial virus+human metapneumovirus (older adults) SP0268 mRNA acne SP0289 mRNA influenza H5 pandemic SP0335 inactivated adjuvanted influenza H5 pandemic SP034010 subunit respiratory syncytial virus+human metapneumovirus (older adults) Oncology SAR4458778 PD1xIL15 fusion protein solid tumours Sarclisa CD38 mAb relapsed/refractory multiple myeloma in combination Neurology SAR402663 sFLT01 AAV gene therapy wet age-related macular degeneration SAR446597 Factor BbxC1s AAV gene therapy geographic atrophy in dry age-related macular degeneration SAR4488519 TREM2 agonist Alzheimer’s disease Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 39 — Pipeline: phase 1
Pipeline: phase 1 As of September 30, 2026. For collaborations, please see slide 48. For abbreviations, please see slide 49. Children and adolescents’ indication extensions are not included. 1. Also known as DR-0201. 2. Also known as KT-485. 3. Also known as BLU-924. 4. Also known as VXB-251. 5. Also known as Z-1018. Investor Relations 39 Immunology SAR446422 CD28xOX40 bispecific Ab inflammatory indication SAR4485011 CD20 bispecific mAb inflammatory indication SAR4479712 IRAK4 degrader hidradenitis suppurativa Oncology SAR445953 CEACAM5-Topo1 ADC colorectal cancer SAR4493363 pan KRAS inhibitor colorectal cancer SAR446523 GPRC5D mAb relapsed/refractory multiple myeloma Vaccines SP0269 mRNA chlamydia SP0287 Fluzone HD+Nuvaxovid influenza+COVID-19 SP0287 Flublok+Nuvaxovid influenza+COVID-19 SP0291 mRNA respiratory syncytial virus+human metapneumovirus+parainfluenza type 3 (older adults) SP03414 subunit respiratory syncytial virus+human metapneumovirus+parainfluenza type 3 (older adults) SP03425 subunit adjuvanted shingles Rare diseases SAR446268 DMPK AAV gene therapy myotonic dystrophy type 1 Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 40 — Pipeline: opportunities from licensing agreements
Pipeline: opportunities from licensing agreements As of September 30, 2026. For abbreviations, please see slide 49. Investor Relations 40 Partner Target Indication C4X oral IL17A inhibitor inflammatory indication Earendil Labs (Helixon) HXN-1002, TL1Axa4b7 mAb inflammatory indication HXN-1003, TL1AxIL23p19 mAb additional programmes Kali Therapeutics SAR449690/KT501, CD19xBCMAxCD3 T-cell engager immune-mediated diseases, phase 1 Nurix additional programmes inflammatory indication Recludix SAR448755/REX8756, STAT6 inhibitor inflammatory indication, phase 1 Recursion orally active small molecules inflammatory indication, oncology Regeneron REGN20423, long-acting IL13 mAb atopic dermatitis, phase 1 miRecule MC-DX4, antibody RNA conjugate facioscapulohumeral muscular dystrophy Scribe Tx RNA-guided CRISPR-associated programmes sickle cell disease Adel SAR449548/ADEL-Y01, acK280 tau mAb Alzheimer’s disease Innate Pharma IPH62, anti-B7H3 NK cell engager oncology SK bioscience next-generation conjugate vaccines (children, adults) pneumococcal disease Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 41 — Pipeline: China a source of innovation
Pipeline: China a source of innovation As of September 30, 2026. For abbreviations, please see slide 49. Investor Relations 41 Company Target Indication Expedition EXPD-101, DPP1 inhibitor inflammatory indication GluBio GLB-005, GLB-007, WIZ degraders sickle cell disease Quantx oral small molecules inflammatory indication Business development Company Target Indication Adagene masked anti-CTLA-4, bispecific SAFEbody programmes solid tumours BioMap protein-level artificial intelligence platform multiple Corxel/Cytokinetics Myqorzo, cardiac myosine inhibitor obstructive and non-obstructive hypertrophic cardiomyopathy Earendil Labs HXN-1002, TL1Axa4b7 mAb HXN-1003, TL1AxIL23p19 mAb additional targets inflammatory indication Insilico Medicine artificial intelligence discovery platform multiple CTTQ/Sino Biopharm Anxu/rovadicitinib, JAK/ROCK inhibitor myelofibrosis, cGVHD TJ Bio uliledlimab, CD73 mAb oncology VisiRNA/Arrowhead Redemplo, RNA interference familial chylomicronaemia syndrome, severe hyperglyceridaemia Equity investments Company Target Indication Beijing segatroxaban multiple Cstone Gavreto (pralsetinib), Ayvakit (avapritinib) multiple Out-licensing Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 42 — Pipeline: regulatory designations since 2020
Pipeline: regulatory designations since 2020 As of September 30, 2026. For abbreviations, please see slide 49. Investor Relations 42 Breakthrough therapy Dupixent – COPD (US), EoE (US) Redemplo – severe HTG (CN) ALTUVIIIO – haemophilia A (US, CN) Qfitlia – haemophilia A/B (US) Wayrilz – wAIHA (US) Ayvakit – ISM (US) Nexviazyme – Pompe (US) venglustat – GD3 (US) riliprubart – CIDP (CN) Beyfortus – RSV (CN) Fast track (US) ALTUVIIIO – haemophilia A Qfitlia – haemophilia A/B Wayrilz – IgG4-RD, ITP efdoralprin alfa – AATD venglustat – GD3 (JP) SAR446268 – DM1 SAR446597 – geographic atrophy SAR402663 – wet AMD Fluzone HD+Nuvaxovid – flu+COVID-19 Flublok+Nuvaxovid – flu+COVID-19 SP0087 – rabies SP0256 – RSV+HMPV (older adults) SP0269 – chlamydia SP0340 – RSV+HMPV (older adults) Priority review Dupixent – AD infants (US), children (US, CN), adolescent (CN), AFRS (US), BP (US, CN), COPD (US), CRSwNP adolescents (US), EoE (US) children (US), PN (US, CN) Tzield – stage 2 T1D (CN), children (US), stage 3 T1D (US) Soliqua – T2D (CN) Rezurock – cGVHD (US) ALTUVIIIO – haemophilia A (US) Ayvakit – GIST (US), advSM (US), ISM (US) Cablivi – aTTP (children US, EU, CN) Nexviazyme – Pompe (US, JP, CN) venglustat – Fabry disease (JP), GD3 (US, JP) Xenpozyme – ASMD (US) Aubagio – R/R MS children (US) Sarclisa – NDMM, 1L TI (US), R/R MM (EU) Fexinidazole – HAT (US) Beyfortus – RSV first, second season (CN) SP0289 – influenza H5 pandemic (EU PRIME) Accelerated assessment Xenpozyme – ASMD (EU) Beyfortus – RSV (EU) Orphan Dupixent – BP (JP) Wayrilz – IgG4-RD (US, EU, JP), ITP (EU, JP), SCD (US), wAIHA (US, EU, JP) Nexviazyme – Pompe (JP) Xenpozyme – ASMD (JP) venglustat – GD3 (JP) efdoralprin alfa – AATD (US, EU) SAR446268 – DM1 (US, EU) riliprubart – CIDP (US, EU, JP) SAR446523 – R/R MM (US) Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 43 — Pipeline: Q3 appendix changes
Pipeline: Q3 appendix changes As of September 30, 2026. For collaborations, please see slide 48. For abbreviations, please see slide 49. Investor Relations 43 New in Removed from Designations CN priority review Beyfortus – RSV, second season EU PRIME SP0289 – influenza H5 pandemic Phase 2 SAR446597 – geographic atrophy SAR448851 – Alzheimer’s disease SP0340 – RSV+HMPV (older adults) Phase 1 SAR446597 – geographic atrophy (to phase 2) SAR448851 – Alzheimer’s disease (to phase 2) SP0340 – RSV+HMPV (older adults) (to phase 2) Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 44 — What’s next: Immunology
What’s next: Immunology As of September 30, 2026. Paediatric and adolescents’ indication extensions are not included. Dashed lines represent future clinical study starts, barring unforeseen events. For abbreviations, please see slide 49. Illustrative; selected projects only. 1. Ongoing discussions with regulatory authorities and Regeneron before a decision on a potential third phase 3 study. Investor Relations 44 brivekimig phase 2 lunsekimig phase 2 high-risk lunsekimig phase 2/3 brivekimig phase 2 CD/UC brivekimig phase 2 frexalimab phase 2 frexalimab phase 3 kidney transplant Dupixent approved (US, EU, JP, CN) Dupixent approved (US, EU, JP, CN) Dupixent approved (US, EU, JP) Dupixent approved (US, JP, CN) Dupixent AFRS approved (US), CPUO phase 3 Dupixent approved (US, EU, JP, CN) Dupixent approved (US, EU, JP, CN) Dupixent approved CRSwNP (US, EU, JP) Dupixent approved (US, EU) duvakitug phase 3 CD/UC teplizumab approved stage 2 (US, EU, CN), approved stage 3 (US) Rezurock approved cGVHD (US, EU), phase 3 CLAD AD PN CSU HS BP others asthma COPD CRS EoE IBD T1D transplant dermatology respiratory gastroenterology endocrinology autoimmune Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 45 — What’s next: Vaccines
New fields pneumococcal disease 21-valent conjugate phase 3 acne mRNA phase 2 chlamydia mRNA phase 1 shingles subunit phase 1 PPH boosters hexa, penta, quadrivalent approved boosters approved Meningitis, travel and endemic yellow fever vero cell phase 3 rabies vero cell submitted US, EU yellow fever vero cell phase 3 rabies vero cell submitted US, EU yellow fever vero cell phase 3 rabies vero cell submitted US, EU MenQuadfi 4-valent (ACWY) approved yellow fever/rabies/typhoid/hepatitis A approved RSV Beyfortus RSV mAb approved RSV combinations (older adults) mRNA phase 1/2 RSV combinations (older adults) subunit phase 1/2 Flu COVID-19 flu H5 pandemic mRNA phase 2 flu H5 pandemic inactivated adjuvanted phase 2 Flublok+COVID-19, Fluzone HD+COVID-19 (50y+) phase 1/2 Nuvaxovid COVID-19 approved flu standard dose Fluzone, Vaxigrip approved flu standard dose Fluzone, Vaxigrip approved differentiated flu Flublok approved differentiated flu Flublok, Fluzone HD approved infant/toddler/paediatric adolescent/adult older adult What’s next: Vaccines As of September 30, 2026. Illustrative; selected projects only. For abbreviations, please see slide 49. Investor Relations 45 Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 46 — Pipeline: main clinical studies across focus areas
Pipeline: main clinical studies across focus areas As of September 30, 2026. For abbreviations, please see slide 49. Investor Relations 46 Immunology brivekimig (TNFaxOX40L Nanobody® VHH) - CD (CHROMA CD: NCT06958536) - HS (BRIGHTEN: NCT07170917) - stage 3 T1D (T1D OBTAIN: NCT06812988) - UC (COLOR UC: NCT06975722) Dupixent (IL4R mAb) - CPUO (NCT05263206) duvakitug (TL1A mAb) - CD (STARSCAPE-1: NCT07184931, STARSCAPE-2: NCT07184944) - UC (SUNSCAPE-1: NCT07184996, SUNSCAPE-2: NCT07185009) frexalimab (CD40L mAb) - kidney transplant rejection (FREXERA: NCT07412470) - stage 3 T1D (FABULINUS: NCT06111586) lunsekimig (IL13xTSLP Nanobody® VHH) - moderate to severe asthma (AIRCULES: NCT06102005) - high-risk asthma (AIRLYMPUS: NCT06676319) - COPD (PERSEPHONE: NCT07190209, THESEUS: NCT07190222), long-term extension (COLOSSUS: NCT07793409) - CRSwNP (NCT06454240) Rezurock (ROCK2 inhibitor) - CLAD (ROCKaspire: NCT06082037) SAR449028 (wild-type KIT inhibitor) - chronic urticaria (NCT06931405) SAR444336 (non-beta IL2 SynthorinTM) - microscopic colitis (NCT07156175) SAR445399 (IL1R3 mAb) - HS (CLAROS: NCT07225569) SAR446422 (CD28xOX40 bispecific Ab) - inflammatory indication SAR448501 (CD20 bispecific antibody) - inflammatory indication (NCT06647069) SAR447971 (IRAK4 degrader) - hidradenitis suppurativa (NCT07629336) Rare diseases Nexviazyme (enzyme replacement therapy) - IOPD (Mini-COMET: NCT03019406, Baby-COMET: NCT04910776) efdoralprin alfa (AAT fusion therapy) - AATD (ELEVAATE: NCT05856331, ELEVAATE OLE: NCT05897424) elenestinib (oral KIT D816V inhibitor) - indolent/smouldering SM (HARBOR: NCT04910685) fitusiran (RNAi targeting antithrombin) - haemophilia A and B (ATLAS-OLE: NCT03754790, ATLAS-PEDS: NCT03974113, ATLAS-NEO: NCT05662319) frexalimab/rilzabrutinib/brivekimig - FSGS/MCD (RESULT: NCT06500702) venglustat (oral GCS inhibitor) - GD3 (LEAP2MONO: NCT05222906) Wayrilz (BTK inhibitor) - Graves’ disease (NCT06984627) - IgG4-RD (RILIEF: NCT07190196) - ITP (LUNA 3: NCT04562766) - SCD (LIBRA: NCT06975865) - wAIHA (LUMINA 3: NCT07086976) SAR446268 (DMPK AAV gene therapy) - DM1 (BrAAVe: NCT06844214) Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 47 — Pipeline: main clinical studies across focus areas
Pipeline: main clinical studies across focus areas As of September 30, 2026. For abbreviations, please see slide 49. Investor Relations 47 Oncology Sarclisa (CD38 mAb) - MM, 1L TE (GMMG-HD7: NCT03617731) - MM, 1L TE (IsKia: NCT04483739) - smouldering MM (NCT04270409) - R/R MM (IRAKLIA: NCT05405166) - R/R MM (NCT04643002) SAR445877 (PD1xIL15 fusion protein) - solid tumours (NCT05584670) SAR445953 (CEACAM5-Topo1 ADC) - colorectal cancer (NCT06131840) SAR446523 (GPRC5D mAb) - R/R MM (NCT06630806) SAR449336 (pan KRAS) - colorectal cancer (NCT07629960) Neurology frexalimab (CD40L mAb) - RMS (FREXALT-1, FREXALT-2: NCT06141473) - SPMS (FREVIVA: NCT06141486) - MS (FREXCITE: NCT07325292) riliprubart (C1s inhibitor) - IVIg-treated CIDP (VITALIZE: NCT06290141) - long-term (NCT06859099) SAR402663 (sFLT01 AAV gene therapy) - wet AMD (NCT06660667) SAR446597 (Factor Bb/C1s AAV gene therapy) - dry AMD (NCT07215234) SAR448851 (TREM2 agonist) - Alzheimer’s disease (NCT06343636) Vaccines Fluzone HD (inactivated quadrivalent) - flu (50 years+) (NCT06641180) SP0087 (vero cell) - rabies (NCT04127786) SP0202 (21-valent conjugate) - pneumococcal disease (NCT06736041, NCT06975878) SP0218 (vero cell) - yellow fever (NCT07002060) SP0256 (mRNA) - RSV+HMPV (older adults) (NCT06134648, NCT06686654) SP0268 (mRNA) - acne (NCT06316297) SP0289 (mRNA) - flu (H5 pandemic) (NCT06727058) SP0335 (inactivated adjuvanted) - flu pandemic (NCT06560151, NCT07779408) SP0287 (Fluzone HD+Nuvaxovid) - flu+COVID-19 (NCT06695117) SP0287 (Flublok+Nuvaxovid) - flu+COVID-19 (NCT06695130) SP0291 (mRNA) - RSV+hMPV+PIV3 (older adults) (NCT06604767) SP0269 (mRNA) - chlamydia (NCT06891417) SP0340 (subunit) - RSV+HMPV (older adults) (NCT06556147, NCT07810010, NCT07734649) SP0341 (subunit) - RSV+HMPV+PIV3 (older adults) (NCT07295028) SP0342 (subunit adjuvanted) - shingles (NCT06569823) Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 48 — Collaborations
Collaborations Investor Relations 48 Ref Name Companies Alprolix ALTUVIIIO Eloctate Swedish Orphan Biovitrum (Sobi) Beyfortus AstraZeneca Dupixent Kevzara itepekimab Regeneron duvakitug Teva Pharmaceuticals frexalimab ImmuNext Redemplo Arrowhead Anxu Sino Biopharm Myqorzo Corxel (Cytokinetics) Nuvaxovid Novavax SAR445953 Pfizer SAR447971 Kymera SP0202 SK bioscience Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 49 — Abbreviations
Abbreviations Investor Relations 49 AAT(D) alpha-1-antitrypsine (deficiency) pdAAT plasma-derived alpha-1-antitrypsine AAV adeno-associated virus AD atopic dermatitis ADC antibody drug conjugate AFRS allergic fungal rhinosinusitis ASMD acid sphingomyelinase deficiency ATTR-CM transthyretin amyloid cardiomyopathy BCMA B-cell maturation antigen BP bullous pemphigoid BTK Bruton’s tyrosine kinase CD cluster of differentiation CD Crohn’s disease CDC centers for disease control and prevention CEACAM5 carcinoembryonic antigen cell adhesion molecule 5 CIDP chronic inflammatory demyelinating polyneuropathy CLAD chronic lung allograft dysfunction COPD chronic obstructive pulmonary disease CPUO chronic pruritus of unknown origin CRISPR clustered regularly interspaced short palindromic repeats CRSsNP chronic rhinosinusitis without nasal polyps CRSwNP chronic rhinosinusitis with nasal polyps CSU chronic spontaneous urticaria CTLA-4 cytotoxic T-lymphocyte-associated protein 4 C1s complement component 1s AMD age-related macular degeneration DPP1 dipeptidyl peptidase 1 DMPK dystrophia myotonic protein kinase DM1 myotonic dystrophy type 1 ENT Ear, nose, and throat EoE eosinophilic esophagitis FIH first-in-human FSGS focal segmental glomerulosclerosis GCS glucosylceramide synthase GD1/3 Gaucher disease type 1 or 3 cGVHD chronic graft-versus-host disease GIST gastrointestinal stromal tumour GPRC5D G-protein-coupled receptor class 5 member D HAT human African trypanosomiasis nHCM non-obstructive hypertrophic cardiomyopathy HD high-dose HMPV human metapneumovirus HS hidradenitis suppurativa HTG hypertriglyceridemia IBD inflammatory bowel disease IgG4-RD IgG4-related disease IL interleukin IOPD infantile-onset Pompe disease IRAK4 interleukin-1 receptor-associated kinase-4 ISM indolent systemic mastocytosis ITP immune thrombocytopenia IV(Ig) intravenous (immunoglobulin) JAK Janus kinase KRAS Kirsten rat sarcoma virus LCM lifecycle management LoE loss of exclusivity mAb monoclonal antibody MC microscopic colitis MCD minimal change disease MM multiple myeloma MS multiple sclerosis NBRx new-to-brand prescription NDMM newly diagnosed multiple myeloma NK natural killer OX40L OX40 ligand PCV pneumococcal conjugate vaccine PN prurigo nodularis PPH polio/pertussis/Haemophilus influenzae b QW/M every weeks/months RMS relapsing multiple sclerosis mRNA messenger ribonucleic acid RNAi ribonucleic acid interference ROCK rho associated coiled-coil containing protein kinase R/R relapsed/refractory RSV respiratory syncytial virus SC subcutaneous SCD Sickle cell disease SM systemic mastocytosis SOC standard of care SPMS secondary progressive multiple sclerosis STAT6 signal transducer and activator of transcription 6 TE/I transplant-eligible/ineligible TL1A TNF-like ligand 1a TNF tumour necrosis factor TREM2 triggering receptor expressed on myeloid cells 2 TSLP thymic stromal lymphopoietin aTTP acquired thrombotic thrombocytopenic purpura T1/2D type 1/2 diabetes UC ulcerative colitis wAIHA warm autoimmune haemolytic anaemia Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 50 — Investor relations team contacts
Investor relations team contacts Investor Relations 50 Thomas Kudsk Larsen Head of IR General medicines +44 7545 513 693 [email protected] Alizé Kaisserian IR Officer All pipeline, Immunology, and Oncology +33 6 47 04 12 11 [email protected] Keita Browne IR Officer Immunology marketed, and Finance +1 617 685 6662 [email protected] Nathalie Pham IR Officer Rare diseases +33 7 85 93 30 17 [email protected] Nina Goworek IR Vice President General medicines +1 908 569 8086 [email protected] Thibaud Châtelet IR Officer Vaccines, and Finance +33 6 80 80 89 90 [email protected] Yun Li IR Officer Diabetes, Neurology, Finance, and ESG +33 6 84 00 90 72 [email protected] Aline Communeau Private shareholders +33 6 98 90 45 15 [email protected] Marie Lang Corporate access +33 6 70 83 59 31 [email protected] Caroline Kuriata Corporate access, US +1 973 385 3184 [email protected] Finance Pipeline Business Strategy update Appendices Appendix Pipeline Appendices Strategy, Finance and ESG Collaborations Abbreviations Contacts
Slide 51 — Finance
Finance Pipeline Business Strategy update Appendices