Company: SNY
Filing Date: 2025-10-27
Form Type: 424B5
Source: 0001193125-25-250786
Chunk: 3

Company: Sanofi
Filing Date: 2025-10-27
Form: 424B5
Chunk 3
---
 read this prospectus supplement, the attached prospectus and the documents that we reference in this prospectus supplement carefully before you invest and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these statements. S-1

EU MIFID II PRODUCT GOVERNANCE

Solely for the purposes of each manufacturer’s product approval process, the target market assessment in respect of the notes, taking
into account the five categories referred to in item 19 of the Guidelines published by ESMA on August 3, 2023, has led to the conclusion that: (i) the target market for the notes is eligible counterparties and professional clients only,
each as defined in Directive 2014/65/EU (as amended, “EU MiFID II”); and (ii) all channels for distribution of the notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling
or recommending the notes (a “distributor”) should take into consideration the manufacturers’ target market assessment; however, a distributor subject to EU MiFID II is responsible for undertaking its own target market assessment
in respect of the notes (by either adopting or refining the manufacturer’s target market assessment) and determining appropriate distribution channels. The Company is not a manufacturer for the purposes of the EU MiFID product governance rules
under EU Delegated Directive 2017/593 (as amended, the “EU MiFID Product Governance Rules”).

PROHIBITION OF SALES TO EEA RETAIL INVESTORS

The notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or
otherwise made available to any retail investor in the European Economic Area (the “EEA”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article
4(1) of EU MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point
(10) of Article 4(1) of EU MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”). Consequently, no key information