Company: SNY
Filing Date: 2025-10-27
Form Type: 424B5
Source: 0001193125-25-250786
Chunk: 62

Company: Sanofi
Filing Date: 2025-10-27
Form: 424B5
Chunk 62
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 which consist of either the purchase of credit default swaps or the creation of short positions in our securities, including potentially the
notes offered hereby. Any such short positions could adversely affect future trading prices of the notes offered hereby. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research
views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.

S-45

Selling Restrictions European Economic Area In relation to each Member State, the underwriters have each represented, warranted and agreed that they and each of their affiliates and any other person acting on their behalf have not made and will not make an offer to the public of any notes in that Member State, except that they may make an offer to the public in that Member State: (i) at any time to any legal entity which is a qualified investor as defined in Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”); (ii) at any time to fewer than 150 natural or legal persons (other than qualified investors as defined in the Prospectus Regulation) subject to obtaining the prior consent of the representatives for any such offer; or (iii) at any time in any other circumstances falling within Article 1(4) of the Prospectus Regulation, provided that no such offer of notes referred to in (i) to (iii) above shall require us or the underwriters to publish a prospectus pursuant to article 3 of the Prospectus Regulation or supplement a prospectus pursuant to article 23 of the Prospectus Regulation. Each underwriter has represented, warranted and agreed that it has not offered, sold or otherwise made available and will not offer, sell or otherwise make available any notes to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of the following: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “EU MiFID II”); or (ii) a customer within the meaning of Directive (EU) 2016/97, as amended, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of EU MiFID II. Consequently, no key information document required by Regulation (EU) 1286/2014 (as