Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 123

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 123
---
 election applies. The election may not be revoked without the consent of the U.S. Internal Revenue
Service. Any accrued market discount on a foreign currency debt security that is currently includible in income will be translated into U.S. dollars at the average spot exchange rate for the accrual period (or portion thereof within the
holder’s taxable year).

Indexed Debt Securities and Other Debt Securities Providing for Contingent Payments

Special rules govern the tax treatment of debt obligations that provide for contingent payments (“contingent debt obligations”).
These rules generally require accrual of interest income on a constant yield basis in respect of contingent debt obligations at a yield determined at the time of issuance of the obligation, and may require adjustments to these accruals when any
contingent payments are made. We will provide a detailed description of the material tax considerations relevant to U.S. holders of any contingent debt obligations in the applicable prospectus supplement.

Impact of Consolidation, Merger and Sale of Assets

If we engage in the activities described under “Description of Debt Securities—Special Situations— Consolidation, Merger and
Sale of Assets,” a U.S. holder could be treated for U.S. federal income tax purposes

36

as having constructively exchanged its debt securities for new debt securities in a taxable transaction, resulting in realization of gain or loss. You should consult your tax adviser with regard
to whether our engaging in such activities results in a constructive exchange and, if so, the U.S. federal income tax consequences of such constructive exchange and of holding the new debt securities you would be deemed to receive.

Medicare Tax

Certain
U.S. holders who are individuals, estates or trusts are required to pay a Medicare tax of 3.8% (in addition to taxes they would otherwise be subject to) on their “net investment income,” which include, among other things, interest on and
capital gains from the sale or other disposition of notes.

Foreign Asset Reporting

If you are an individual (and, to the extent provided in future regulations, an entity), you may be subject to reporting obligations with
respect to your debt securities if the aggregate value of these and certain other “specified foreign financial assets” exceeds a certain threshold. If required, this disclosure is made by filing Form 8938 with the U.S. Internal Revenue
Service. Significant penalties can apply if you are required to make this disclosure and fail to do so. In addition, you should consider your possible obligation to file online a FinCEN Form 114