Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 23

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 23
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 a very limited history and the future performance of the Benchmark Replacement may not be predicted based on historical performance, (iv) the secondary trading market for floating rate notes linked to the Benchmark
Replacement may be limited and (v) the administrator of the Benchmark Replacement may make changes that could change the value of the Benchmark Replacement or discontinue the Benchmark Replacement and has no obligation to consider your
interests in doing so.

The interest rate on the floating rate notes may be determined by reference to a Benchmark Replacement even if the then-current Benchmark continues to be published.

A Benchmark Transition Event includes, among other things, a public
statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing that the Benchmark is no longer representative. The interest rate on the floating rate notes may therefore cease to be determined
by reference to the Benchmark and instead be determined by reference to the Benchmark Replacement, even if the then-current Benchmark continues to be published. Such rate may be lower than the Benchmark for so long as the Benchmark continues to be
published, and the value of and return on the floating rate notes may be adversely affected.

We or our designee will make certain determinations, decisions and elections that could affect the return on, value of and market for the floating rate notes.

We or
our designee will make certain determinations with respect to the floating rate notes as further described under “Description of the Notes — Principal, Interest and Maturity — Floating Rate Notes.” For example, if a Benchmark
Transition Event and its related Benchmark Replacement Date have occurred, we or our designee will make certain determinations with respect to the floating rate notes in our or our designee’s sole discretion as further described under
“Description of the Notes — Principal, Interest and Maturity — Floating Rate Notes.” Any determination, decision or election pursuant to the benchmark replacement provisions not made by our designee will be made by us. Any of
these determinations may adversely affect the value of the floating rate notes, the return on the floating rate notes and the price at which holders can sell such floating rate notes. Moreover, certain determinations may require the exercise of
discretion and the making of subjective judgments, such as with respect to the occurrence or nonoccurrence of a Benchmark Transition Event and any Benchmark Replacement Conforming Changes.

When performing such functions, potential conflicts of interest may exist between us or our designee and you. All determinations, decisions
and elections by us or our designee will be conclusive for all purposes and binding on us and