Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063672
Chunk: 11

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 11
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| Net investment income                        |     |                                  |   996,949,441 |   |     |   | 1,160,567,837 |   |     |                                  |  3,521,874 |   |     |   |  4,447,014 |   |
| Net transfers                                |     |                                  |  (305,936,717 | ) |     |   |  (188,581,953 | ) |     |                                  | (2,874,623 | ) |     |   | (2,914,814 | ) |
| Increase in Net Assets                       |     |                                  |   691,012,724 |   |     |   |   971,985,884 |   |     |                                  |    647,251 |   |     |   |  1,532,200 |   |
| Net Assets:                                  |     |                                  |               |   |     |   |               |   |     |                                  |            |   |     |   |            |   |
| Beginning of Year                            |     |                                  | 7,767,905,017 |   |     |   | 6,795,919,133 |   |     |                                  | 29,869,948 |   |     |   | 28,337,748 |   |
| End of Year                                  |     | $                                | 8,458,917,741 |   |     | $ | 7,767,905,017 |   |     | $                                | 30,517,199 |   |     | $ | 29,869,948 |   |

<div align='center'>10</div>

Sanofi Puerto Rico Group Savings Plan

Notes to the Financial Statements

December 31, 2024 and 2023

InvestmentValuation and Income Recognition– The investments of the Master Trust are reported at fair value, except for the Stable Value Fund, which is a FBRIC and is required to be reported at contract value. Purchases and sales of investments within the Master Trust are recorded on the trade-date basis (the day the order to buy or sell is executed). Interest income is recorded on the accrual basis, and dividend income is recorded on the ex-dividend date.

FairValue Measurements–The accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at