Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 38

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 38
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 Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Floating Rate Notes in respect of all determinations on such date and for all determinations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, we or our designee will have the right to make Benchmark Replacement Conforming Changes from time to time. Any determination, decision or election that may be made by us or our designee pursuant to this section, including a determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrenceof an event, circumstance or date and any decision to take or refrain from taking any action or any selection:

| (i) | will be conclusive and binding absent manifest error; |

| (ii) | if made by us, will be made in our sole discretion; |

| (iii) | if made by our designee, will be made after consultation with us, and such designee will not make any such 
 determination, decision or election to which we object; and                                                |

| (iv) | notwithstanding anything to the contrary in the documentation relating to the Floating Rate Notes, shall become 
 effective without consent from the holders of the Floating Rate Notes or any other party.                       |

As used herein, the following terms have the meanings assigned to them: “Benchmark” means, initially, Compounded SOFR, as such term is defined above; provided that if we or our designee determine on or prior to the Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published daily SOFR Index used in the calculation thereof) or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. “Benchmark Replacement” means the first alternative set forth in the order below that can be determined by us our designee as of the Benchmark Replacement Date:

| (i) | the sum of (a) the alternate rate of interest that has been selected or recommended by the Relevant               
 Governmental Body as the replacement for the then-current Benchmark and (b) the Benchmark Replacement Adjustment; |

| (ii) | the sum of (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; or |

| (iii) | the sum of (a) the alternate rate of interest that has been selected by us or our designee as the                                                                                                                                               
 replacement for the then