Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063672
Chunk: 15

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 15
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,682,737 |
| Total investments measured at fair value      |     |         |             |     |         |   |     |         |   |     | $     | 7,213,440,426 |

| (a) | In accordance with ASC Subtopic                                                                                                            
 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value 
 hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line    
 items presented in the net assets available for benefits of the Master Trust.                                                              |

Investments Measured at NAV
– The following tables summarize investments for which fair value is measured using the net asset value per share practical expedient
as of December 31, 2024 and 2023. There are no participating redemption restrictions for these investments; the redemption notice
period is applicable only to the Master Trust.

| December 31, 2024                   |     | Net Asset Value |               |     | Unfunded    
 Commitments |   |     | Redemption 
 Frequency  |     | Redemption    
 Notice Period |
|:------------------------------------|:----|:----------------|--------------:|:----|:------------|:--|:----|:-----------|:----|:--------------|
| US Treasury Money Market Ttrust(b)  |     | $               |     7,293,457 |     |             | – |     | Daily      |     | None          |
| Sanofi U.S. Active Bond Fund (a)    |     |                 |   106,924,857 |     |             | – |     | Daily      |     | None          |
| Sanofi U.S. Bond Fund Index (b)     |     |                 |    96,804,003 |     |             | – |     | Daily      |     | None          |
| Sanofi International Stock Index(b) |     |                 |   100,882,780 |     |             | – |     | Daily      |     | None          |
| Sanofi U.S. Active Stock Fund (a)   |     |                 |   304,891,943 |     |             | – |     | Daily      |     | None          |
| Sanofi U.S. Stock Index (b)         |     |                 |   955,182,554 |     |             | – |     | Daily