Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 241

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 241
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 criteria. The objectives applicable to annual variable compensation in respect of 2024 were: • 60% based on financial indicators: sales growth, FCF and business earnings per share Business EPS, each accounting for 20%; and • 40% based on specific individual objectives. For 2024, the individual objectives set by the Board were: – business transformation (15%) – quantitative and qualitative objective, – development pipeline (15%) – quantitative objective, – CSR (10%) – quantitative and qualitative objective. In the interests of transparency, Sanofi is now disclosing, for each financial criterion, information about the thresholds (floor, target and maximum attainment level) used by the Board of Directors to determine the overall attainment level and payout.

| Objective                                 | Measured against                   | Payout                   |      |                          |
| Threshold (floor)Payout = 0%              | Target (X, in %)Payout = 100%      | Maximumpayout = 166.67%  |      |                          |
|                                           |                                    | Attainment level         |      |                          |
| Sales growth                              | Growth compared to the 2024 budget | X -4% percentage points  | 100% | X +4% percentage points  |
| Business earnings per share(Business EPS) | Attainment level vs 2024 budget    | X -5% percentage points  | 100% | X +5% percentage points  |
| Free cash flow                            | Growth compared to the 2024 budget | X -15% percentage points | 100% | X +50% percentage points |

Likewise, at the start of each year, the Board of Directors establishes a precise matrix for determining each of the individual objectives. Sanofi discloses the content of the qualitative criteria, accompanied by narrative for each sub-criterion explaining the level of attainment reached. Those criteria are always assessed by reference to the performances of the leading global pharmaceutical companies.

| SANOFIFORM 20-F2024 | 139 |

| PART I                                             |
| ITEM 6. Directors, Senior Management and Employees |

Acting on a recom mendation from the Compensation Committee, the Board meeting of February 12, 2025 reviewed the attainment level of each criterion and sub-criterion. The Board’s conclusions are summarized in the table below.

| Criterion                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     | Type                     | Weight | Target/Maximum(as % of fixedcompensation) | 2024Attainmentlevel | 2023reference | Comments