Company: SNY
Filing Date: 2025-10-27
Form Type: 424B5
Source: 0001193125-25-250786
Chunk: 26

Company: Sanofi
Filing Date: 2025-10-27
Form: 424B5
Chunk 26
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 with the consent of the holders of the notes voting together with the holders of other of our notes as a single class for this purpose.

Subject to certain exceptions, the indenture governing the notes may be amended by us and the trustee with the consent of the holders of notes
issued under the indenture. With respect to the notes, the required consent can be obtained, at our option, from either (i) the holders of a majority in principal amount of a series of the notes issued under the indenture, or (ii) the
holders of a majority in principal amount of the notes and all other series of debt securities, issued under the indenture or any other indenture of the Issuer providing for such aggregated voting and identified by us as affected by that amendment,
with all of such holders treated as a single class for this purpose. In addition, subject to certain exceptions, with respect to the notes issued under the indenture, our compliance with certain restrictive provisions of the indenture or any past
default under the indenture may be waived, at our option, by (x) the holders of a majority in principal amount of the notes, or (y) the holders of a majority in principal amount of the notes and all other series of debt securities, whether
issued under the indenture or any other indenture of the Issuer providing for such aggregated voting and identified by the Company as affected by the waiver, with all of such holders treated as a single class for this purpose. Any such amendment or
modification shall be conclusive and binding upon all holders and upon all future holders of such debt securities, whether or not notation of such consent is made upon such debt securities. As a result, it is possible in certain circumstances for
the indenture to be amended and for compliance with certain covenants and for certain defaults thereunder to be waived with the consent of holders of less than a majority of the notes.

French insolvency law may supersede certain provisions of the indenture and the commencement of insolvency proceedings would have a material adverse effect on the notes.

As a French company, Sanofi S.A. could be subject to French insolvency law, including
court-assisted pre-insolvency proceedings (ad hoc mandate (mandat ad hoc) or conciliation proceedings (procédure de conciliation)), court-administered insolvency proceedings under French
law (such as safeguard proceedings (procédure de sauvegarde), accelerated safeguard proceedings (procédure de sauvegarde accélérée) and