Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 295

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 295
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 — A.1.8 Impact of Exchange Rates.”

| SANOFIFORM 20-F2024 | 175 |

| PART I                                                              |
| ITEM 11. Quantitative and Qualitative Disclosures about Market Risk |

The table below shows operating currency hedging instruments in place as of December 31, 2024 , with the notional amount translated into euros at the relevant closing exchange rate (see Note D.20. to the consolidated financial statements for the accounting classification of those instruments as of December 31, 2024 ). Operating foreign exchange derivatives as of December 31, 2024

| (€ million)                    | Notional amount | Fair value |
| Forward currency sales         |           7,521 |        -67 |
| of which US dollar             |           3,974 |        -59 |
| of which Chinese yuan renminbi |             703 |         -5 |
| of which Pound sterling        |             368 |         -1 |
| of which Japanese yen          |             241 |          2 |
| of which Turkish lira          |             216 |        -23 |
| Forward currency purchases     |           4,796 |         37 |
| of which US dollar             |           2,660 |         24 |
| of which Singapore dollar      |             484 |          3 |
| of which Chinese yuan renminbi |             451 |          2 |
| of which Turkish lira          |             203 |         19 |
| of which Canadian dollar       |             126 |          — |
| Total                          |          12,317 |        -30 |

The above positions mainly hedge future material foreign-currency cash flows arising after the end of the reporting period in relation to transactions carried out during the year ended December 31, 2024 and recognized in the balance sheet at that date. Gains and losses on hedging instruments (forward contracts) are calculated and recognized in parallel with the recognition of gains and losses on the hedged items. Due to this hedging relationship, the commercial foreign exchange profit or loss on these items (hedging instruments and hedged transactions) was immaterial in 2024 . B. Financial foreign exchange risk The cash pooling arrangements for foreign subsidiaries outside the euro zone, and some of Sanofi’s financing activities, expose certain Sanofi entities to financial foreign exchange risk (i.e. the risk of changes in the value of borrowings and loans denominated in a currency