Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 429

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 429
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.1% |  15.6% |
| Hedge funds                           |     —% |     —% |     —% |
| Insurance policies                    |  36.9% |  15.1% |  15.6% |
| Total                                 | 100.0% | 100.0% | 100.0% |

Sanofi has a long-term objective of maintaining or increasing the extent to which its pension obligations are covered by assets. To this end, Sanofi uses an asset-liability management strategy, matching plan assets to its pension obligations. This policy aims to ensure the best fit between the assets held on the one hand, and the associated liabilities and expected future payments to plan members on the other. To meet this aim, Sanofi operates a risk monitoring and management strategy (mainly focused on interest rate risk and inflation risk), while investing a growing proportion of assets in high-quality bonds with comparable maturities to those of the underlying obligations and in contracts entered into with leading insurance companies to fund certain post-employment benefit obligations.

| F-70 | SANOFIFORM 20-F2024 |

| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |

The tables below show the service cost for Sanofi’s pension and other post-employment benefit plans, by geographical region:

| (€ million)                                                                                                  | Pensions and other post-employment benefits by geographical region |         |     |     |       |       |
| Service cost for 2024                                                                                        |                                                             France | Germany |  US |  UK | Other | Total |
| Current service cost                                                                                         |                                                                 48 |      30 |  22 |   — |    38 |   138 |
| (Gains)/losses related to plan amendments, curtailmentsor settlements not specified in the terms of the plan |                                                                -82 |       — | -20 |   — |    -8 |  -110 |
| Net interest cost/(income) including administration costsand taxes paid during the period                    |                                                                 13 |      20 |  36 |  -1 |     9 |    77 |
| Contributions from plan members                                                                              |                                                                  — |       — |   — |   — |    -5 |    -5 |
| Expense/(gain) recognized directly in profit or loss                                                         |                                                                -21 |      50 |  38 |  -1 |    34 |   100 |
| Remeasurement of