Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 26

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 26
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, as described in “Description of Debt Securities We May Offer — Special Situations —
Mergers and Similar Events” of the attached prospectus, those assets will no longer be available to support our notes.

Our credit ratings may not reflect all risks of an investment in the notes.

The credit ratings ascribed to us and the notes are
intended to reflect our ability to meet our payment obligations generally, and in respect of the notes. They may not reflect the potential impact of all risks related to structure and other factors on the value of the notes. In addition, actual or
anticipated changes in our credit ratings may be expected to affect the market value of the notes. U.S. federal regulations applicable to ratings agencies may change and lead to changes in the manner in which the ratings agencies conduct their
business.

In certain instances, it may be possible for the indenture governing the notes to be amended and for the compliance with certain covenants and for certain defaults thereunder to be waived with the consent of the holders of the notes voting together with the holders of other of our notes as a single class for this purpose.

Subject to certain exceptions, the indenture governing the notes may be amended by us and the trustee with the consent of the holders of notes
issued under the indenture. With respect to the notes, the required consent can be obtained, at our option, from either (i) the holders of a majority in principal amount of a series of the notes issued under the indenture, or (ii) the
holders of a majority in principal amount of the notes and all other series of debt securities, issued under the indenture or any other indenture of the Issuer providing for such aggregated voting and identified by us as affected by that amendment,
with all of such holders treated as a single class for this purpose. In addition, subject to certain exceptions, with respect to the notes issued under the indenture, our compliance with certain restrictive provisions of the indenture or any past
default under the indenture may be waived, at our option, by (x) the holders of a majority in principal amount of the notes, or (y) the holders of a majority in principal amount of the notes and all other series of debt securities, whether
issued under the indenture or any other indenture of the Issuer providing for such aggregated voting and identified by the Company as affected by the waiver, with all of such holders treated as a single class for this purpose. Any such amendment or
modification shall be conclusive and