Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 66

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 66
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 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-44

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 amended the “EU PRIIPs Regulation”) for offering or selling the notes or otherwise making them available to retail investors (as defined above) in the EEA has been prepared and therefore offering or selling the notes or otherwise making them available to any such retail investor in the EEA may be unlawful under the EU PRIIPs Regulation