Sanofi Q2 2025 Results: Financial Performance & Strategic Updates

Sanofi Q2 2025 Results: Financial Performance & Strategic Updates

• 1. Business Finance Pipeline Appendices

• 2. Results Q2 2025 July 31, 2025 Business Finance Pipeline Appendices

• 3. 3 Forward-looking statements Investor Relations This document contains forward-looking statements as defined in 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 performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. 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 FDA or the EMA, 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, 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, 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 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, 2024. With respect to any sustainability or environmental, social and governance (ESG)-related information contained herein, in light of the significant uncertainties inherent in such statements and other related information contained herein, investors should not regard these statements as a representation or warranty by Sanofi or any other person that Sanofi will achieve its goals, objectives, aspirations, metrics, plans or targets, which may be subject to evaluation and adjustment, in any specified time frame or at all, the achievement of which shall remain subject to other conditions and considerations both within and outside Sanofi’s control. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. 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 main presentation are defined in the list of abbreviations. In the appendices, abbreviations are written in full the first time used. Business Finance Pipeline Appendices

• 4. 4 Agenda Investor Relations Business Paul Hudson Finance François Roger Pipeline Houman Ashrafian Q&A Presenters and Olivier Charmeil, Brian Foard, Brendan O’Callaghan, Roy Papatheodorou, and Thomas Triomphe 01 03 02 04 Business Finance Pipeline Appendices

• 5. 5 Double-digit Q2 sales growth; 2025 sales guidance refined Investor Relations All percentage changes at CER. 1. ALTUVIIIO, Nexviazyme, Sarclisa, Rezurock, Cablivi, Xenpozyme, Tzield, Qfitlia. • Pharma launches ALTUVIIIO on track to blockbuster status • Vaccines Growth driven by Beyfortus • Dupixent Strong volume growth across all regions and indications • Other medicines Impact from some legacy medicines • 2025 sales guidance now high single-digit percentage growth, at upper end of range 0.9 Pharma launches1 +39.8% Vaccines Dupixent Other medicines 1.2 +10.3% 3.8 +21.1% 4.1 -2.9% €10.0bn +10.1% (€bn) Business Finance Pipeline Appendices

• 6. Sales (€m) Q2 291 192 140 132 72 69 54 18 1 €969m +47.3% 6 Launches contributed 10% of sales Investor Relations All percentage changes at CER. Business Finance Pipeline Appendices

• 7. 896 1,025 2,407 2,807 Q2 2024 Q2 2025 7 Dupixent: strong momentum continues to be driven by demand Investor Relations All changes at CER unless stated otherwise. 1. IQVIA data with internal projection for AD, AS, CRSwNP, EOE, PN, COPD. Performance New launches expand presence in type-2 inflammation Worldwide sales growth driven by strong volume across geographies • #1 NBRx and #1 TRx market share across all indications1 • >20% market growth across all indications1 • COPD launched in 13 countries, six more in H2 • CSU launch (US), with rapid payer coverage and >2k prescribers Outside US • BP approval in June (US), reinforcing leadership in dermatology +16.6% 3,303 US +22.7% 3,832 Sales (€m) +21.1% Business Finance Pipeline Appendices

• 8. All changes at CER unless stated otherwise. 1. Novavax is the license holder. Vicebio acquisition is subject to customary closing conditions, including receipt of regulatory approvals. 8 Investor Relations Continued pipeline progress 711 693 297 307 115 141 Q2 2024 Q2 2025 1,141 1,214 +10.3% Beyfortus Flu Meningitis - T&E PPH & Boosters Vaccines: steady progress, investing in respiratory Strategic fit • Early-stage respiratory vaccines • Fast-growing market addressing older adult immunization needs • Access to Molecular Clamp technology RSV-hMPV combination vaccines • Accelerated clinical development leveraging high protein stability • Targeting thermostable ready-to-use liquid formulation Beyfortus 6-month protection in label (EU) Nuvaxovid BLA approval (US)1 MenQuadfi Approval for 6 weeks+ (US) Travel vaccines SP0087 rabies – positive phase 3 SP0218 yellow fever – phase 3 start Sales (€m) Acquisition of Business Finance Pipeline Appendices

• 9. 0 50 100 150 200 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 +52.5% Blueprint: complementing rare diseases with a growth medicine All changes at CER unless stated otherwise. Blueprint acquisition was completed on July 17, 2025. Therefore, sales are not consolidated by Sanofi as the acquisition had not closed as of June 30, 2025. 9 Investor Relations Leading franchise in rare Further pipeline expansion immunology diseases Potentially a highly potent and selective wild-type KIT inhibitor Wild-type KIT plays a central role in mast cell activation, which is implicated in a broad range of inflammatory diseases Developed leveraging company expertise in mast cell biology First approved medicine in the US and EU to treat gastrointestinal stromal tumors, and advanced and indolent systemic mastocytosis • Potential next-generation KIT inhibitor currently in phase 2/3 • Potential for improved clinical benefit and safety elenestinib BLU-808 Sales ($m) Ayvakit on track to blockbuster status Business Finance Pipeline Appendices

• 10. Reducing environmental impact across the portfolio 10 New sustainability strategy in action Investor Relations For additional details, please refer to https://time.com/collection/worlds-most-sustainable-companies-2025/. Sources: based on an ISO-compliant life cycle assessment studies peer-reviewed by independent panels, ensuring transparent and accurate results. 1. Based on 2030 expectations. 2. Compared to the previous generation (manufacturing, packaging and device). -53% -27% -17% -62% -11% -19% -30% -18% -6% Dupixent Toujeo Hexaxim Eco-design moving forward carbon footprint water use resource depletion Reduction in environmental footprint through eco-design2 Sanofi ranked #10 globally across all industries position in Pharmaceuticals and Biotechnology 2025: all new medicines and vaccines 2030: top-20 medicines and vaccines1 World’s most sustainable companies in 2025 #1 and secured the Business Finance Pipeline Appendices

• 11. Finance Q2 2025 Business Finance Pipeline Appendices

• 12. 12 Q2: strong sales and underlying EPS performance Investor Relations All percentage changes at CER. 1. Margin at actual exchange rate. Sales Growth driven by Immunology, pharma launches, and Beyfortus Gross margin +1.5pp, driven by enhanced product mix Operating expenses R&D: Sobi reimbursement in Q2 2024 (~€200m) SG&A: continued support of launches Business operating income Higher gross profit partly offset by increased R&D expenses and Regeneron profit sharing Business EPS +8.3%, reflecting operating income growth and lower share count from buyback (€m) Q2 2024 Q2 2025 Change Net sales 9,427 9,994 +10.1% Other revenues 736 741 +4.6% Gross profit 7,169 7,742 +12.4% Gross margin 76.0%1 77.5%1 +1.5pp R&D (1,665) (1,909) +17.7% SG&A (2,192) (2,284) +7.8% Operating expenses (3,857) (4,193) +12.1% Percentage of net sales 40.9% 42.0% +1.1pp Other operating income and expenses (817) (1,116) +41.7% Business operating income 2,521 2,461 +3.3% Business operating margin 26.7%1 24.6%1 -2.1pp Effective tax rate 20.0% 19.5% -0.5pp Total business net income 1,951 1,940 +5.1% Average number of shares, million 1,250.1 1,217.1 Business EPS 1.56 1.59 +8.3% Business Finance Pipeline Appendices

• 13. early-stage pipeline 13 Actively redeploying capital 1. As of the end of July 2025. Sanofi completed the acquisition of Dren Bio’s DR-0201 on May 27, 2025, and Blueprint Medicines on July 17, 2025. Acquisition of Vigil Neuroscience is subject to customary closing conditions including the tender of at least a majority of the outstanding shares of common stock. Acquisition of Vicebio is subject to customary closing conditions, including receipt of regulatory approvals. Immunology March May Organic investment BD/M&A June 2 1 Retains capacity for further July licensing and acquisitions April divested controlling stake in consumer health business 3 Growing dividend €5bn share buyback program in 2025, 80.3%1 already repurchased 4 Share buyback early-stage pipeline Neurology commercial and mid/late-stage pipeline Rare diseases early-stage pipeline Vaccines Business Finance Pipeline Appendices

• 14. 14 Considerations for other operating income and expenses Investor Relations 1. Sanofi funds 100% upfront until first positive phase 3, then 80% thereafter. 2. Via a quarterly payment of 20% of Regeneron's profit share. 3. As of December 31, 2024, the “Development Balance” amounted to €1.6bn. 4. Alnylam medicine. 5. 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. 6. Evaluate Pharma on July 21, 2025. Actual FX 2022-2024, EUR/USD at 1.1 2025-2030. 2023 20243 2025 2026 2027 Reimbursement of development balance by Regeneron 2023 2024 2025 2026 2027 0.7 0.8 1.1 0.8 0 0.1 0.2 0.3 0.4 0.6 Indicative (Sanofi estimates) Indicative (Evaluate Pharma consensus) • Sanofi funds majority of development costs¹ • Regeneron reimburses up to 50% of cumulative costs² Regeneron development balance reimbursement (€bn) Amvuttra® royalty6 (€bn) Amvuttra® royalty4 -0.3 -0.8 • Recently approved in the US and EU for ATTR-CM • Royalty on global net sales in all indications (30% on sales above $1.5bn)5 Business Finance Pipeline Appendices

• 15. FY 2025: business dynamics to consider; sales guidance refined All percentage changes at CER. Barring unforeseen events. 1. Based on July 2025 average currency exchange rates. 2. Excludes any impact from hyperinflation. Guidance (at CER) Sales: Growth at a high single-digit percentage2 Business EPS: Growth at a low double-digit percentage (before share buyback) 15 Investor Relations Sales currency impact Business EPS currency impact around -6%1 around -4%1 Sales P&L Gross margin increase Capital gains (divestments) around €500m Effective tax rate broadly stable versus 2024 Other medicines divestments €200m to €250m sales impact Beyfortus • modest growth • Q3/Q4 split equally Operating expenses increase due to acquired businesses Flu • mid-teens percentage decline • Q3/Q4 split ~75%/~25% Business Finance Pipeline Appendices

• 16. Pipeline Business Finance Pipeline Appendices

• 17. 17 Pipeline: Q2 highlights Investor Relations Sanofi completed the acquisition of Blueprint Medicines on July 17, 2025. Acquisition of Vigil Neuroscience is subject to customary closing conditions including the tender of at least a majority of the outstanding shares of common stock. Dupixent BP (JP) Cerezyme GD3 (US) Dupixent BP (US) Sarclisa NDMM, TE (EU) MenQuadfi meningitis (6 weeks+) (US) itepekimab COPD (one met primary endpoint, one did not) SP0087 rabies (primary endpoint met) Nature Reviews Drug Discovery Regulatory approvals Regulatory submission acceptances Phase 3 readouts Major scientific publications riliprubart AMR (ODD US), CIDP (ODD JP) rilzabrutinib SCD (ODD US), IgG4-RD (FTD US, orphan EU) SAR446597 dAMD/GA (FTD US) SAR446523 R/R MM (ODD US) Regulatory designations Science The New England Journal of Medicine 3 1 3 Acquisition of Vigil VG-3927, oral TREM2 agonist, enhancing microglia neuroprotection function in Alzheimer’s disease Acquisition of Blueprint elenestinib, potential next-gen KIT inhibitor for systemic mastocytosis in phase 2/3 BLU-808, wild-type KIT inhibitor for potential use in inflammatory diseases in phase 2 Business Finance Pipeline Appendices

• 18. 18 Immunology: commitment to treat patients with COPD Investor Relations 1. Source: USPI. For additional details on Dupixent and lunsekimig, please refer to the American Thoracic Society 2025 and 2023 international conference, respectively. For additional details, please refer to the clinical study slide 37. Dupixent Significant reduction in the annualized rate of moderate or severe exacerbations, significant improvements in pre-bronchodilator FEV1, and improvement in quality of life1 Patient benefit being realized through ongoing launches AERIFY-1: significant reduction in moderate or severe exacerbations of 27.1% (p=0.0019) at week 52 with Q2W dosing AERIFY-2: did not meet the same primary endpoint. The data analysis is progressing and once finished, regulatory authority discussions will start. Data anticipated to be presented at a forthcoming medical meeting Rationale: potential benefit combining IL13 and TSLP inhibition Respiratory proof of concept: rapid and significant 40.9 ppb reduction in FeNO levels (90% CI -55.4 to -26.4) at day 29 in phase 1b study in mildto-moderate asthma patients COPD phase 2/3 expected to start in H2 2025 itepekimab lunsekimig Business Finance Pipeline Appendices

• 19. ITP • First global approval as Wayrilz in the UAE • Under review in the EU, CN, US (PDUFA date of August 29, 2025) • Orphan drug (US, EU, JP) IgG4-related disease • Orphan drug (US, EU ) • Fast track (US) wAIHA • Orphan drug (US) SCD • Orphan drug (US) 19 Rare diseases and Oncology: progress in broadening the scope Investor Relations For additional details on Sarclisa, please refer to the American Society of Clinical Oncology 2025 meeting. For additional details, please refer to the clinical study slide 37. rilzabrutinib AAT recombinant protein with a longer half-life Potential platform rare diseases Sarclisa Subcutaneous data at ASCO NEW NEW NEW NEW efdoralprin alfa Potential in AATD emphysema Potential for higher AAT serum levels with less frequent dosing Phase 2 data in H2 2025 Potential for US regulatory submission in H2 2026 NEW Regulatory submission acceptance expected in H2 2025 (US, EU) Sarclisa-Pd established non-inferiority in R/R MM in IRAKLIA phase 3 study Sarclisa-VRd met primary endpoint in NDMM, TI in IsaSocut phase 2 study Sarclisa-Kd met primary endpoint in R/R MM in IZALCO phase 2 study • Most patients preferred OBI over manual IV • Similar profile as Sarclisa IV, with no new safety concerns Approval in NDMM, TE front-line (EU) NEW Business Finance Pipeline Appendices

• 20. 78% sustained response SoC-refractory (n=9) non-evaluable 11% 11% relapsed 80% relapse-free SoC-treated (n=40) non-evaluable 13% 7% relapsed 86% sustained response SoC-naïve (n=7) 14% non-evaluable Efficacy sustained at week 76 across CIDP patient groups who achieved primary endpoint at week 24 Part B Strengthened previous findings across all subgroups. Patients remained relapse-free or with sustained response at week 76 Patients treated with riliprubart had 35% reduction in NfL levels at week 76, alongside strong and sustained reduction of complement activity from baseline 20 Neurology: riliprubart targeting high unmet need in CIDP Investor Relations For additional details, please refer to the Peripheral Nerve Society 2025 meeting (phase 2 clinical study identifier: NCT04658472). Open-label phase 2 study demonstrated encouraging efficacy and favorable safety Potential for efficacious, subcutaneous option Comprehensive phase 3 program MOBILIZE first study in patients who experienced failure/inadequate response to standard-of-care (no longer on IVIg) VITALIZE first head-to-head study in patients who are on IVIg compared to riliprubart Phase 3 readouts anticipated in H2 2026 Part A Primary and all secondary endpoints met across three subgroups at week 24, demonstrating that majority of patients improved or remained stable on riliprubart CIDP • Orphan drug (US, EU, JP ) • Breakthrough therapy (CN) AMR Orphan drug NEW (US) NEW Business Finance Pipeline Appendices

• 21. 21 Pipeline: upcoming news flow Investor Relations Key pipeline news flow only. 1. Subject to further analysis and regulatory discussions. For abbreviations, please see slide 40. Phase 2 data readout Phase 3 data readout [ Regulatory submission Regulatory decision H2 2025 H1 2026 H2 2026 riliprubart – CIDP frexalimab – SLE SP0218 – yellow fever Nexviazyme – IOPD (US, EU) rilzabrutinib – ITP (CN) efdoralprin alfa – AATD (US) Fluzone HD – flu (50y+) (EU) tolebrutinib – PPMS (US, EU) Dupixent – BP (EU, JP, CN) venglustat – GD3 tolebrutinib – nrSPMS (EU) venglustat – Fabry disease (US) Cerezyme – GD3 (US) Fluzone HD – flu (50y+) (US) itepekimab – COPD (JP, CN)1 rilzabrutinib – ITP (JP) Dupixent – CSU (EU) Sarclisa – SC formulation teplizumab – DO T1D (EU, CN) SP0087 – rabies (US, EU) teplizumab – EI T1D (EU) Rezurock – cGvHD, 3L (EU) itepekimab – COPD (US, EU)1 Qfitlia – hemophilia A/B (CN) rilzabrutinib – ITP (US, EU) tolebrutinib – nrSPMS (US) amlitelimab – AD (full data) Nexviazyme – IOPD venglustat – Fabry disease lunsekimig – asthma venglustat – GD3 eclitasertib – UC SP0125 – RSV (toddlers) balinatunfib – RA efdoralprin alfa – AATD SAR447873 – GEP NETs amlitelimab – AD (first data) SP0230 – meningitis tolebrutinib – PPMS SP0256 – RSV (older adults) Fluzone HD – flu (50y+) Business Finance Pipeline Appendices

• 22. 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: investor.relations@sanofi.com Business Finance Pipeline Appendices

• 23. Finance appendices Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 24. 24 Investor Relations All percentage changes at CER. Sales biopharma Q2 2025 (€m) change Dupixent 3,832 21.1% Polio/Pertussis/Hib vaccines & Boosters 693 1.3% Lantus 426 11.5% Toujeo 338 10.5% Meningitis, Travel and endemic vaccines 307 7.4% ALTUVIIIO 291 91.8% Fabrazyme 263 -0.4% Plavix 229 1.3% Lovenox 209 -15.6% Nexviazyme/Nexviadyme 192 17.3% Cerezyme 173 -7.8% Alprolix 145 7.8% Influenza vaccines 141 26.1% Myozyme 140 -19.4% Sarclisa 140 19.0% Praluent 137 10.3% Kevzara 134 35.3% Rezurock 132 21.1% Thymoglobulin 126 2.3% Aprovel 102 -1.9% Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 25. 25 Investor Relations Currency impact Sales (€m) Business EPS (€) -335 -116 +98 -384 -0.12 -0.06 +0.02 -0.10 Q3 Q4 Q1 2024 Q2 2025 Q3 Q4 Q1 2024 Q2 2025 Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 26. 26 Investor Relations Currency sensitivity and exposure Currency Variation Net sales sensitivity Business EPS sensitivity US Dollar +0.05 USD/EUR -€968m - €0.18 Japanese Yen +5 JPY/EUR -€55m - €0.02 Chinese Yuan +0.2 CNY/EUR -€69m - €0.02 Brazilian Real +0.4 BRL/EUR -€53m - €0.01 Currency average rates Q2 2024 Q2 2025 Change €/US Dollar 1.077 1.134 +5.3% €/Yen 167.783 163.807 -2.4% €/Yuan 7.813 8.198 +4.9% €/Real 5.619 6.425 +14.3% €/Ruble 97.409 91.674 -5.9% US Dollar 49.9% Euro 18.8% Chinese Yuan 6.6% Japanese Yen 3.7% Brazilian Real 1.7% Canadian Dollar 1.5% Mexican Peso 1.2% British Pound 1.2% Russian Ruble 1.0% Turkish Lira 1.0% Others 13.4% 2025 business EPS currency sensitivity Currency exposure on Q2 2025 sales Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 27. 27 Investor Relations Free cash flow definition in appendix 9 of the Q2 2025 results press release. 1. Other includes -€1m of factoring, -€5m of CAPEX net of depreciations, €59m of interests paid, €71m of tax paid, €98m of restructuring, -€52m of Forex impact and -€54m of other items excluding tax. Free cash flow 0.9 0.1 0.4 -0.1 0.1 1.4 (€bn) Free cash flow Q2 2025 Free cash flow Q2 2024 Business operating income at CER Change in working capital excluding tax Acquisition net of proceeds before tax Other1 Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 28. -10.7 28 Investor Relations Credit ratings reaffirmed: Moody’s A1/positive, S&P AA/stable, Scope AA/stable as of June 30, 2025. 1. Including derivatives used to manage net debt: €213m on December 31, 2024 and €-48m on June 30, 2025. 2. Effective January 1, 2019, net debt does not include lease liabilities following the first-time application of IFRS16. 3. Before restructuring, acquisitions and disposals. 4. Includes acquisitions of intangible assets, investments and other long-term financial assets and proceeds from disposals net of taxes not exceeding a cap of €500m per transaction (inclusive of all payments related to the transaction) of €986m and -€434m respectively and includes transactions that are above a cap of €500m per transaction (inclusive of all payments related to the transaction) of €563m. 5. Including €438m of restructuring costs and similar items paid; -€98m of Opella net debt reclassified to held for sale as of December 31, 2024; €460m of other items (o/w €475m payments of major litigations); -€29m of issuance of Sanofi shares; -€136m of net cash provided by/(used in) the discontinued Opella Business. Net debt evolution 8.8 1.1 4.0 4.8 0.6 5.1 -3.4 Net debt Dec 31, 20241,2 Net debt June 30, 20251,2 FCF3 M&A and BD activity4 Other5 (€bn) Acquisition of treasury shares Dividends paid to shareholders of Sanofi Net cash inflow from the Opella transaction Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 29. Pipeline appendices Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 30. 30 Investor Relations As of July 31, 2025. For collaborations (superscripted by capital letters), please see slide 39. For abbreviations, please see slide 40. Pediatric and adolescents’ indication extensions are not included. 1. Also known as fitusiran, currently in phase 3 in the EU. 2. Subject to further analysis and regulatory discussions. 3. Also known as SAR441344. 4. Also known as SAR445088. 5. Also known as SP0178. Pipeline: registration and phase 3 Immunology DupixentA IL4xIL13 mAb chronic pruritus of unknown origin lichen simplex chronicus itepekimabA,2 IL33 mAb chronic obstructive pulmonary disease chronic rhinosinusitis with nasal polyps amlitelimab OX40L mAb atopic dermatitis Rezurock ROCK2 inhibitor chronic lung allograft dysfunction teplizumab CD3 mAb type 1 diabetes Neurology tolebrutinib BTK inhibitor primary progressive multiple sclerosis frexalimabB,3 CD40L mAb relapsing multiple sclerosis non-relapsing secondary progressive multiple sclerosis riliprubart4 C1s mAb SOC-refractory chronic inflammatory demyelinating polyneuropathy IVIg-treated chronic inflammatory demyelinating polyneuropathy Rare diseases Nexviazyme enzyme replacement therapy infantile-onset Pompe disease venglustat oral GCS inhibitor Fabry disease Gaucher disease type 3 Oncology Sarclisa CD38 mAb newly diagnosed multiple myeloma, transplant eligible (HD7) (US) newly diagnosed multiple myeloma, transplant eligible (IsKia) smoldering multiple myeloma (ITHACA) CD38 mAb subcutaneous relapsed/refractory multiple myeloma (IRAKLIA) Phase 3 Registration DupixentA IL4xIL13 mAb bullous pemphigoid (EU, JP, CN) chronic spontaneous urticaria (EU) Qfitlia1 RNAi targeting anti-thrombin hemophilia A and B (CN) rilzabrutinib BTK inhibitor immune thrombocytopenia (US, EU, CN) Cerezyme enzyme replacement therapy Gaucher disease type 3 (US) tolebrutinib BTK inhibitor non-relapsing secondary progressive MS (US, EU) Vaccines Fluzone HD5 multivalent inactivated flu (50 years+) SP0087 vero cell rabies SP0125 live attenuated respiratory syncytial virus (toddlers) SP0202C 21-valent conjugate pneumococcal disease SP0218 vero cell yellow fever Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 31. 31 Investor Relations As of July 31, 2025. For collaborations (superscripted by capital letters), please see slide 39. For abbreviations, please see slide 40. Pediatric and adolescents’ indication extensions are not included. 1. Also known as SAR441344. 2. Also known as SAR441566. 3. Also known as SAR443765. 4. Also known as SAR443122/DNL758. 5. Also known as SAR442970. 6. Also known as SAR447189/TEV’574. 7. Also known as SAR445088. 8. Also known as SAR447537 and formerly known as INBRX-101. 9. 212Pb-dotamtate/AlphaMedix. 10. Also known as KD050. Pipeline: phase 2 Rare diseases rilzabrutinib BTK inhibitor warm autoimmune hemolytic anemia efdoralprin alfa8 AAT fusion protein alpha-1 antitrypsin deficiency emphysema frexalimab rilzabrutinib brivekimig CD40L mAb BTK inhibitor TNFaxOX40L Nanobody® VHH focal segmental glomerulosclerosis/ minimal change disease Oncology Sarclisa CD38 mAb relapsed/refractory multiple myeloma SAR447873F,9 SSTR targeting alpha-emitter therapy gastroenteropancreatic neuroendocrine tumors SAR44587710 PD1xIL15 fusion protein solid tumors Immunology DupixentA IL4xIL13 mAb ulcerative colitis itepekimabA IL33 mAb bronchiectasis chronic rhinosinusitis without nasal polyps amlitelimab OX40L mAb alopecia areata asthma celiac disease systemic sclerosis rilzabrutinib BTK inhibitor asthma chronic spontaneous urticaria IgG4-related disease frexalimabB,1 CD40L mAb systemic lupus erythematosus type 1 diabetes balinatunfib2 oral TNFR1 signaling inhibitor crohn’s disease rheumatoid arthritis ulcerative colitis lunsekimig3 IL13xTSLP Nanobody® VHH asthma asthma, high-risk atopic dermatitis chronic rhinosinusitis with nasal polyps eclitasertibD,4 RIPK1 inhibitor ulcerative colitis brivekimig5 TNFaxOX40L Nanobody® VHH hidradenitis suppurativa type 1 diabetes duvakitugE,6 TL1A mAb Crohn’s disease ulcerative colitis riliprubart7 C1s mAb antibody-mediated rejection Vaccines SP0230 5-valent (ACWY+B) meningitis SP0256 (1) mRNA respiratory syncytial virus (older adults) SP0268 mRNA acne SP0289 mRNA flu (H5 pandemic) SP0335 inactivated adjuvanted flu (H5 pandemic) Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 32. 32 Investor Relations As of July 31, 2025. For collaborations (superscripted by capital letters), please see slide 39. For abbreviations, please see slide 40. Pediatric and adolescents’ indication extensions are not included. 1. Also known as MAB212, in-licensed from MAB Discovery. 2. Also known as DR-0201. 3. Also known as ABL301. Pipeline: phase 1 Immunology SAR444336 non-beta IL2 SynthorinTM inflammatory indication SAR4453991 IL1R3 mAb inflammatory indication SAR445514G trifunctional anti-BCMA NK-cell engager inflammatory indication SAR446422 CD28xOX40 bispecific Ab inflammatory indication SAR446959 MMP13xADAMTS5xCAP Nanobody® VHH knee osteoarthritis SAR4485012 CD20 bispecific mAb inflammatory indication Vaccines SP0237 mRNA flu SP0287 Fluzone HD+Nuvaxovid flu+COVID-19 SP0287 Flublok+Nuvaxovid flu+COVID-19 SP0256 (2) mRNA respiratory syncytial virus+human metapneumovirus (older adults) SP0291 mRNA respiratory syncytial virus+human metapneumovirus+parainfluenza type 3 (older adults) SP0269 mRNA chlamydia Oncology SAR445953I CEACAM5-Topo1 ADC colorectal cancer SAR446523 GPRC5D mAb relapsed/refractory multiple myeloma Neurology SAR446159H,3 synucleinxIGF1R mAb Parkinson’s disease SAR402663 AAV2-sFLT01 gene therapy wet age-related macular degeneration Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 33. 33 Investor Relations As of July 31, 2025. For collaborations (superscripted by capital letters), please see slide 39. For abbreviations, please see slide 40. Pipeline: Q2 appendix changes Regulatory Submission Dupixent – BP (JP) Submission Cerezyme – GD3 (US) New in Regulatory Approval Dupixent – BP (US) Approval MenQuadfi – meningitis (six weeks+) (US) Approval Sarclisa – NDMM, Te (EU) Removed from Phase 3 Dupixent – eosinophilic gastritis Rezurock – chronic graft-versus-host disease, 1L Phase 3 SP0218 – yellow fever Phase 2 balinatunfib – UC SP0268 – acne SP0289 – flu (H5 pandemic) Phase 2 amlitelimab – HS balinatunfib – psoriasis SAR444656 – AD/HS SP0218 – yellow fever Phase 1 SAR448501 – inflammatory indication Phase 1 SP0268 – acne SP0289 – flu (H5 pandemic) Designations US ODD riliprubart – AMR US ODD rilzabrutinib – SCD EU orphan rilzabrutinib – IgG4-RD US FTD rilzabrutinib – IgG4-RD JP ODD riliprubart – CIDP US FTD SAR446597 – dAMD/GA US ODD SAR446523 – R/R MM CN priority review Soliqua – T2D Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 34. SAKIGAKE (JP) Xenpozyme – ASMD 34 Investor Relations As of July 31, 2025. For abbreviations, please see slide 40. Pipeline: regulatory designations since 2020 Breakthrough therapy Dupixent – AD (US) Dupixent – COPD (US) Dupixent – EoE (US) Rezurock – cGvHD (US) ALTUVIIIO – hemophilia A (US, CN) fitusiran – hemophilia A/B (US) Nexviazyme – Pompe (US) Xenpozyme – ASMD (US) tolebrutinib – nrSPMS (US) riliprubart – CIDP (CN) SAR447873 – GEP NETs (US) Beyfortus – RSV (US, CN) PRIME (EU) Xenpozyme – ASMD Beyfortus – RSV SP0125 – RSV (toddlers) Fast track (US) itepekimab – COPD ALTUVIIIO – hemophilia A Qfitlia – hemophilia A/B rilzabrutinib – ITP, IgG4-RD Nexviazyme – Pompe Xenpozyme – ASMD Venglustat – Fabry AAT recombinant Fc – AATD SAR446597 – GA CD123 NKCE – AML Beyfortus – RSV SP0125 – RSV (toddlers) SP0202 – pneumococcal disease SP0087 – rabies Fluzone HD+Nuvaxovid – flu+COVID-19 Flublok+Nuvaxovid – flu+COVID-19 SP0289 – flu (H5 pandemic) SP0256 – RSV+hMPV (older adults) SP0269 – chlamydia Priority review Dupixent – AD, PN (US, CN), EoE, COPD, CRSwNP adolescents (US) Kevzara – RA (US) TZIELD – T1D (CN) Soliqua – T2D (CN) Rezurock – cGvHD (US) ALTUVIIIO – hemophilia A (US) Nexviazyme – Pompe (US, JP, CN) Cablivi – aTTP (JP) Xenpozyme – ASMD (US) tolebrutinib – SPMS (US) Sarclisa – NDMM, 1L TI (US) Fexinidazole – HAT (US) Beyfortus – RSV (CN) Accelerated assessment Dupixent – PN (CN) Xenpozyme – ASMD (EU) Beyfortus – RSV (EU) Orphan Dupixent – BP, EoE (US) ALTUVIIIO – hemophilia A (US, EU) Qfitlia – hemophilia A/B (US, EU) rilzabrutinib – ITP (US, EU, JP), wAIHA (US), IgG4-RD (US, EU), SCD (US) Rezurock – cGvHD (US) Cerdelga – Gaucher (US) Nexviazyme – Pompe (US, JP) Xenpozyme – ASMD (US, EU, JP) venglustat – Fabry, Gaucher (US, EU, JP) SAR446268 – DM1 (US, EU) riliprubart – CIDP (US, EU, JP), AMR (US) Sarclisa – MM (US) SAR446523 – R/R MM (US) Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 35. 35 Investor Relations As of July 31, 2025. Dashed lines represent future clinical study starts, barring unforeseen events. 1. Subject to further analysis and regulatory discussions. For abbreviations, please see slide 40. Illustrative. What’s next: Immunology Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 36. New fields pneumococcal disease 21-valent conjugate phase 3 acne mRNA phase 2 chlamydia mRNA phase 1 PPH boosters hexa, penta, quadrivalent approved boosters approved Meningitis, travel and endemic meningitis 5-valent (ABCWY) phase 2 yellow fever vero cell phase 3 rabies vero cell phase 3 yellow fever vero cell phase 3 rabies vero cell phase 3 yellow fever vero cell phase 3 rabies vero cell phase 3 MenQuadfi 4-valent (ACWY) approved yellow fever/rabies/typhoid/hepatitis A approved RSV Beyfortus RSV mAb approved RSV (toddlers) live attenuated phase 3 RSV combination (older adults) mRNA phase 1/2 Flu COVID-19 flu mRNA phase 1 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/pediatric adolescent/adult older adult 36 Investor Relations As of July 31, 2025. For abbreviations, please see slide 40. Illustrative. What’s next: Vaccines Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 37. 37 Investor Relations As of July 31, 2025. For abbreviations, please see slide 40. Pipeline: main clinical studies across disease areas Immunology Dupixent (IL4xIL13 mAb) - BP (NCT04206553) - CPUO (NCT05263206) - CSU (Study B: NCT04180488) - UC (NCT05731128) - lichen simplex chronicus (STYLE 1: NCT06687967, STYLE 2: NCT06687980) itepekimab (IL33 mAb) - COPD (AERIFY-1:NCT04701983, AERIFY-2: NCT04751487, AERIFY-3: NCT0532641, AERIFY-4: NCT06208306) - CRSwNP (CEREN 1: NCT06834347, CEREN 2: NCT06834360) - bronchiectasis (NCT06280391) - CRSsNP (NCT06691113) amlitelimab (OX40L mAb) - AD(COAST 1: NCT06130566, COAST 2: NCT06181435, SHORE: NCT06224348, AQUA: NCT06241118, ESTUARY: NCT06407934) - asthma (TIDE-Asthma: NCT05421598) - alopecia areata (NCT06444451) - celiac disease (NCT06557772) - systematic sclerosis (CONQUEST: NCT06195072) Rezurock (ROCK2 inhibitor) - chronic lung allograft dysfunction (ROCKaspire: NCT06082037) teplizumab (CD3 mAb) - stage 2 T1D (PETITE-T1D: NCT05757713) - stage 3 T1D (PROTECT Extension: NCT04598893) rilzabrutinib (BTK inhibitor) - asthma (NCT05104892) - CSU (RILECSU: NCT05107115) - IgG4-RD(NCT04520451) frexalimab (CD40L mAb) - SLE (APATURA: NCT05039840) - T1D (FABULINUS: NCT06111586) balinatunfib (oral TNFR1si) - RA (SPECIFI-RA: NCT06073093) - CD (SPECIFIC-CD: NCT06637631) - UC (SPECIFIC-UC: NCT06867094) lunsekimig (IL13xTSLP Nanobody® VHH) - moderate to severe asthma (AIRCULES: NCT06102005) - high-risk asthma (AIRLYMPUS: NCT06676319) - CRSwNP (NCT06454240) - AD (NCT06790121) eclitasertib (RIPK1 inhibitor) - UC (NCT05588843) brivekimig (TNFaxOX40L Nanobody® VHH) - HS (HS OBTAIN NCT05849922) - T1D (NCT06812988) duvakitug (TL1A mAb) - CD/UC (RELIEVE UCCD: NCT05499130) riliprubart (C1s inhibitor) - AMR (NCT05156710) SAR444336 (non-beta IL2 SynthorinTM) - inflammatory indication (NCT05876767) SAR445399 (IL1R3 mAb) - inflammatory indication SAR445514 (trifunctional anti-BCMA NK-cell engager) - inflammatory indication SAR446422 (CD28xOX40 bispecific Ab) - inflammatory indication SAR446959 (MMP13xADAMTS5xCAP Nanobody® VHH) - knee osteoarthritis (NCT06704932) SAR448501 (CD20 bispecific antibody) - inflammatory indication (NCT06647069) Rare diseases fitusiran (RNAi targeting anti-thrombin) - hemophilia A and B (ATLAS-OLE: NCT03754790, ATLAS-PEDS: NCT03974113) rilzabrutinib (BTK inhibitor) - ITP (LUNA 3: NCT04562766) - wAIHA (NCT05002777) Nexviazyme (enzyme replacement therapy) - IOPD (Mini-COMET: NCT03019406) venglustat (oral GCS inhibitor) - Fabry disease (PERIDOT: NCT05206773, CARAT: NCT05280548) - GD3 (LEAP2MONO: NCT05222906) frexalimab/rilzabrutinib/brivekimig - focal segmental glomerulosclerosis/minimal change disease (RESULT: NCT06500702) efdoralprin alfa (AAT fusion therapy) - AATD (NCT05856331, ELEVAATE OLE: NCT05897424) Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 38. 38 Investor Relations As of July 31, 2025. For abbreviations, please see slide 40. Pipeline: main clinical studies across disease areas Oncology Sarclisa (CD38 mAb) - MM, 1L TE (GMMG-HD7: NCT03617731) - MM, 1L TE (IsKia: NCT04483739) - smoldering MM (NCT04270409) - R/R MM (IRAKLIA: NCT05405166) - R/R MM (NCT04643002) SAR447873 (SSTR targeting alpha-emitter therapy) - GEP NETs (ALPHAMEDIX02: NCT05153772) SAR445877 (PD1xIL15 fusion protein) - solid tumors (NCT05584670) SAR445953 (CEACAM5-Topop1 ADC) - colorectal cancer (NCT06131840) SAR446523 (GPRC5D mAb) - R/R MM (NCT06630806) Vaccines Fluzone HD (inactivated quadrivalent) - flu (50 years+) (NCT06641180) SP0087 (vero cell) - rabies (NCT04127786) SP0125 (live attenuated) - RSV (toddlers) (CORAL: NCT06397768, OPAL: NCT06705140) SP0202 (21-valent conjugate) - pneumococcal disease (NCT06736041, NCT06975878) SP0218 (vero cell) - Yellow fever (NCT07002060) SP0230 (5-valent (ACWY+B)) - meningitis (NCT06128733) SP0256 (mRNA) - RSV+hMPV (older adults) (NCT06134648, NCT06686654) SP0268 (mRNA) - acne (NCT06316297) SP0289 (mRNA) - flu (H5 pandemic) (NCT06727058) SP0335 (inactivated adjuvanted) - flu pandemic (NCT06560151) SP0237 (mRNA) - flu (NCT06744205) 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) Neurology tolebrutinib (BTK inhibitor) - nrSPMS (HERCULES: NCT04411641) - PPMS (PERSEUS: NCT04458051) frexalimab (CD40L mAb) - RMS (FREXALT: NCT06141473) - nrSPMS (FREVIVA: NCT06141486) riliprubart (C1s inhibitor) - SOC-refractory CIDP (MOBILIZE: NCT06290128) - IVIg-treated CIDP (VITALIZE: NCT06290141) - long-term study (NCT06859099) SAR446159 (synucleinxIGF1R mAb) - Parkinson’s disease (NCT05756920) SAR402663 (AAV2-sFLT01 gene therapy) - wet AMD (NCT06660667) Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 39. 39 Investor Relations Collaborations Ref Name Developed in collaboration with… A Dupixent itepekimab Kevzara Regeneron B frexalimab ImmuNext C SP0202 SK bioscience D eclitasertib Denali E duvakitug Teva Pharmaceuticals F SAR447873 RadioMedix, Orano Med G SAR445514 Innate Pharma H SAR446159 ABL Bio I SAR445953 Pfizer SAR444656 Kymera ALTUVIIIO Swedish Orphan Biovitrum (Sobi) Beyfortus AstraZeneca Nuvaxovid Novavax Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 40. 40 Investor Relations Abbreviations AAT alpha-1-antitrypsine AATD alpha-1-antitrypsine deficiency AAV2 adeno-associated virus 2 Ab antibody AD atopic dermatitis ADC antibody drug conjugate AML acute myeloid leukemia AMR antibody-mediated rejection ASMD acid sphingomyelinase deficiency aTTP acquired thrombotic thrombocytopenic purpura ATTR-CM transthyretin amyloid cardiomyopathy BCMA B-cell maturation antigen BLA biologic license application BP bullous pemphigoid BTK Bruton’s tyrosine kinase CD cluster of differentiation CEACAM5 carcinoembryonic antigen cell adhesion molecule 5 cGvHD chronic graft-versus-host disease CIDP chronic inflammatory demyelinating polyneuropathy COPD chronic obstructive pulmonary disease CSU chronic spontaneous urticaria dAMD dry age-related macular degeneration DM1 myotonic dystrophy type 1 DO delay onset EI early intervention EoE eosinophilic esophagitis FeNO fractional exhaled nitric oxide FEV1 forced expiratory volume in 1 second GA geographic atrophy GCS glucosylceramide synthase GD1/3 Gaucher disease type 1 or 3 GEP-NETs gastroenteropancreatic neuroendocrine tumors GPRC5D G-protein-coupled receptor class 5 member D HAT human african trypanosomiasis HD high dose hMPV human metapneumovirus IBD inflammatory bowel disease IGF1R insulin-like growth factor 1 receptor IgG4-RD IgG4-related disease IL interleukin IOPD infante-onset pompe disease ITP immune thrombocytopenia IV intravenous IVIg intravenous immunoglobulin mAb monoclonal antibody MM multiple myeloma mRNA messenger RNA NBRx new-to-brand prescription NDMM newly diagnosed multiple myeloma NfL neurofilament light chain NK natural killer nrSPMS non-relapsing secondary progressive multiple sclerosis OBI on-body injector OX40L OX40 ligand pJIA polyarticular juvenile idiopathic arthritis PMR polymyalgia rheumatica PN prurigo nodularis PPMS primary progressive multiple sclerosis Q2W every two weeks RA rheumatoid arthritis RIPK1 receptor-interacting serine/threonine-protein kinase 1 RNAi RNA interference ROCK2 rho associated coiled-coil containing protein kinase 2 R/R relapsed/refractory RSV respiratory syncytial virus SC subcutaneous SCD Sickle cell disease sJIA systemic juvenile idiopathic arthritis SLE systematic lupus erythematosus SSTR somatostatin receptor SOC standard of care TE transplant-eligible TI transplant-ilegible TL1A TNF-like ligand 1a TNF tumor necrosis factor TREM2 triggering receptor expressed on myeloid cells 2 TRx total prescriptions TSLP thymic stromal lymphopoietin T1/2D type 1/2 diabetes UC ulcerative colitis wAIHA warm autoimmune hemolytic anemia Business Finance Pipeline Appendices Finance appendices Pipeline appendices Collaborations Abbreviations

• 41. Business Finance Pipeline Appendices