Company: SNY
Filing Date: 2025-10-29
Form Type: 424B5
Source: 0001193125-25-255563
Chunk: 107

Company: Sanofi
Filing Date: 2025-10-29
Form: 424B5
Chunk 107
---
 the business day following the DTC settlement date. Such credits
or any transactions in such securities settled during such processing will be reported to the relevant Clearstream participants or Euroclear participants on such business day. Cash received in Clearstream or Euroclear as a result of sales of
securities by or through a Clearstream or Euroclear participant to a DTC participant will be received with value on the DTC settlement date but will be generally available to the relevant Clearstream or Euroclear cash account only as of the business
day following settlement in DTC.

Although DTC, Clearstream and Euroclear have agreed to the foregoing procedures in order to facilitate
transfers of securities among their respective participants, they are under no obligation to perform or continue to perform such procedures and such procedures may be changed or discontinued at any time.

27

TAXATION OF DEBT SECURITIES

French Taxation

The following generally
summarizes the material French tax consequences of purchasing, owning and disposing of the debt securities described in this prospectus. The statements related to French tax laws set forth below are based on the laws in force as of the date hereof,
and are subject to any changes in applicable laws and tax treaties after such date.

This discussion applies to debt securities that are
in the form of “obligations”under French law. If we offer other forms of debt securities, any material tax consequences will be described in the prospectus supplement.

This discussion is intended only as a descriptive summary and does not purport to be a complete analysis or listing of all potential effects
of the purchase, ownership or disposition of the debt securities described in this prospectus.

The following summary does not address the
treatment of debt securities that are held by a holder who: (i) is a resident of France for the purposes of French taxation, (ii) is a shareholder of the issuer, or (iii) carries on business or performs personal services in France, in
connection with a permanent establishment or fixed base.

Investors should consult their own tax advisers regarding the tax consequences
of the purchase, ownership and disposition of debt securities in the light of their particular circumstances.

The following discussion
does not address the French tax consequences applicable to debt securities held in trusts, which may be subject to specific rules.

Taxation of Income

Interest and Other Revenues (including reimbursement premium) from the Debt Securities

French Taxation.Payments of interest and other revenues made by the Issuer with respect to debt securities will not be subject to the