Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063669
Chunk: 1

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 1
---
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Participants and the Administrator

Sanofi U.S. Group Savings Plan

Morristown, New Jersey

Opinion on the Financial Statements

We have audited the accompanying
statements of net assets available for benefits of the Sanofi U.S. Group Savings Plan (the “Plan”) as of December 31, 2024
and 2023, and the related statements of changes in net assets available for benefits for the years then ended, and the related notes (collectively
referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets
available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the years
then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are
the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements
based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)
and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules
and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing
procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management,
as well as evaluating the overall presentation of the financial statements. We believe that our audits provide