Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 21

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 21
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The level of Compounded SOFR applicable to a particular interest period and, therefore, the amount of interest
payable with respect to such interest period will be determined on the floating rate interest payment date (as defined herein) for such floating rate notes interest period. Because each such date is near the end of such interest period, holders of
the floating rate notes will not know the amount of interest payable with respect to a particular interest period until shortly prior to the related floating rate interest payment date, and it may be difficult for holders of the floating rate notes
to reliably estimate the amount of interest that will be payable on each such floating rate interest payment date. In addition, some holders of the floating rate notes may be unwilling or unable to trade the floating rate notes without changes to
their information technology systems, both of which could adversely impact the liquidity and trading price of the floating rate notes.

The SOFR Index may be modified or discontinued and the floating rate notes may bear interest by reference to a rate other than Compounded SOFR, which could adversely affect the value of the floating rate notes.

The SOFR Index is published by the Federal
Reserve Bank of New York based on data received by it from sources other than us, and we have no control over its methods of calculation, publication schedule, rate revision practices or availability of the SOFR Index at any time. There can be no
guarantee, particularly given its relatively limited history, that the SOFR Index will not be discontinued or fundamentally altered in a manner that is materially adverse to the interests of holders of the floating rate notes. If the manner in which
the SOFR Index is calculated, including the manner in which SOFR is calculated, is changed, that change may result in a reduction in the amount of interest payable on the floating rate notes and the trading prices of the floating rate notes. In
addition, the Federal Reserve Bank of New York may withdraw, modify or amend the published SOFR Index or SOFR data in its sole discretion and without notice. The interest rate for any interest period will not be adjusted for any modifications or
amendments to the SOFR Index or SOFR data that the Federal Reserve Bank of New York may publish after the interest rate for that interest period has been determined.

If we or our designee determines that a Benchmark Transition Event (as defined herein) and its related Benchmark Replacement Date (as defined
herein) have occurred in respect of the SOFR Index, then the interest rate on the floating rate notes will