Exhibit 99.1



|3.2. | REPORT OF THE CHAIRMAN OF THE BOARD OF DIRECTORS AS PRESENTED IN THE FRENCH-LANGUAGEDOCUMENT DE REFERENCE(ARTICLE L. 225-37 OF THE FRENCH COMMERCIAL
CODE)
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3.2.1. Chairmans Report

In preparing this
report in accordance with Article L. 225-37 of the French Commercial Code, the Chairman consulted the departments involved in the monitoring of internal control and risk management. This report has been
submitted to the Audit Committee, to the statutory auditors and to the Board of Directors, which (acting on the recommendation of the Audit Committee) approved it at the Board meeting of February 7, 2017.

1/ Corporate Governance

Corporate governance is discussed in Item 16G.
Corporate Governance of the Annual Report on Form 20-F.

2/ Internal Control and Risk Management

2.A. General Organization of Internal Control

2.A.a. Internal Control
Objectives and Framework

Because Sanofi has a U.S. stock market listing and is subject to the requirements of the Sarbanes-Oxley Act, it applies the
Internal Control  Integrated Framework issued in 2013 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This framework is regarded as equivalent to the reference framework of the Autorité des
Marchés Financiers (AMF), the French financial markets regulator. In this report, the description of the system of internal control is aligned on the five COSO components:



| |  |  | control environment;
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| |  |  | risk identification, assessment and management;
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| |  |  | control activities;
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| |  |  | information and communication;
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| |  |  | monitoring of internal control and risk management procedures.
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COSO defines internal control as a process effected by a
companys Board of Directors, management and staff, designed to provide reasonable assurance regarding the achievement of objectives relating to:



| |  |  | the effectiveness and efficiency of operations;
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| |  |  | reliability of reporting, especially of accounting and financial information;
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| |  |  | adherence to the applicable laws and regulations.
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Sanofi senior management has a clear ongoing commitment to
maintaining and enhancing its systems of internal control and risk management. In furtherance of this objective, in 2014 senior management launched the Group Processes and Standards (GPS) program, which combines the existing elements of internal
control into a unified approach. GPS was approved by the Executive Committee and presented to the Audit Committee.

GPS comprises:



| |  |  | a harmonized framework of operational and support processes, broken down into sub-processes;
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| |  |  | an internal control manual, updated and published at the start of every year, which includes mandatory controls applicable to all activities and to all fully consolidated entities, and references to the company policies
underpinning those controls;
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| |  |  | a financial controls framework designed to assess the effectiveness of the system of internal control relating to the production of financial information, as required for compliance with Section 404 of the
Sarbanes-Oxley Act (SOA 404);
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| |  |  | a selective annual self-assessment and three-year evaluation process covering the mandatory controls in the internal control manual, with the extent of implementation at activity and country level dependent on how
critical each activity and country is to our operations, and how material they are to our consolidated financial statements.
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2.A.b. Scope of
Internal Control

The system of internal control covers all fully consolidated companies and activities, and is systematically deployed in all new entities
when they are acquired.

To meet the requirements of SOA 404, the system of internal control incorporates procedures to assess the effectiveness of internal
controls over financial information. In accordance with the recommendations published by the U.S. Securities and Exchange Commission (SEC), those procedures adopt a risk-based approach which is defined centrally and implemented locally. That
approach is based on:



| |  |  | the financial controls framework and control assessment methodology developed by the Internal Controls and Processes (IC&P) Department;
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| |  |  | an analysis of the adequacy of coverage of risks relating to financial information, consistent with the reasonable assurance principle;
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| |  |  | a definition of the scope of application, and IC&P support for the teams involved via communication, leadership and backup;
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| |  |  | coordination of these tasks with the procedures conducted by the statutory auditors.
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The Report of Management on
Internal Control Over Financial Reporting pursuant to SOA 404 is presented in Item 15. Controls and Procedures of the Annual Report on Form 20-F for the year ended December 31,
2016.

2.A.c. Main departments contributing to the system of internal control

Finance Department

Our Finance Department plays an important role in risk
management and control, working not only with global support functions (Insurance, Group Accounting, IC&P, Financial Planning & Control, Financing & Treasury, Tax, Financial Investments & Legal
Restructuring, Investor Relations, Financial Services France) but also at regional and local level, insofar as the Chief Financial Officers at region, zone and country level are responsible for the implementation of internal control.

In particular, the IC&P Department manages the implementation of the system of internal control within Sanofi, including:



| |  |  | coordinating the preparation, updating and distribution of the Sanofi internal control manual;
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| |  |  | supervising the local implementation of policies, processes and controls developed centrally;
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| |  |  | supervising the implementation of the GPS program and reporting back to the Executive Committee;
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| |  |  | assisting operational divisions and support functions in their efforts to improve internal control and to remedy internal control weaknesses;
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| |  |  | coordinating and preparing the assessment of the effectiveness of the system of internal control relating to financial information (SOA 404).
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The IC&P Department relies on a network of internal control correspondents at region, country and activity level, whose
primary roles include documenting and updating local procedures and ensuring they are consistent with company policies; documenting and updating internal delegations of authority; ensuring the principle of segregation of duties is applied;
implementing the mandatory controls contained in the Sanofi internal control manual; and supervising remedial action on internal control weaknesses and the implementation of internal audit recommendations.

Ethics & Business Integrity Department

The core mission of the
Ethics & Business Integrity Department is to promote a culture of integrity within Sanofi so that operational objectives can be attained in compliance with our ethics, values and policies. The department fulfils that role by providing
operational units with the support needed to identify, assess and mitigate risks potentially associated with Sanofis activities.

The Ethics &
Business Integrity Department develops and implements a compliance program that covers all Sanofi entities and is built on:



| |  |  | a dedicated organizational structure including a regional and local network of compliance officers whose primary role is to implement the compliance program regionally and locally;
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| |  |  | policies and procedures;
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| |  |  | the preparation and distribution of an education and training program;
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| |  |  | monitoring activities;
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| |  |  | the handling of compliance breaches;
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| |  |  | implementing a framework for corrective action and/or disciplinary sanctions.
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In addition, the Ethics &
Business Integrity Department (under the auspices of the Compliance Executive Committee) manages a system for collating and managing alerts, the primary purpose of which is to deal with any alerts warning of potential or actual breaches of the Code
of Ethics and/or of any applicable law, regulation or procedure.

Internal Audit

Internal Audit is independent and objective, reporting to the Chief Executive Officer and with free and unrestricted access to the chairman of the Audit Committee.

The role of Internal Audit is to provide the Executive Committee, and the Board of Directors via the Audit Committee, with reasonable assurance as to Sanofis
ability to exercise control over the risks associated with its operations, in compliance with the international standards defined by the Institute of Internal Audit (IIA). In fulfilling that remit, Internal Audit obtains assurance that:



| |  |  | risks are appropriately identified and managed, especially those that impact on Sanofis strategic, financial and operational objectives;
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| |  |  | projects, processes and the actions of Sanofi employees are consistent with internal policies, standards and rules and with laws and regulations;
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| |  |  | risks of fraud are identified, reported and dealt with diligently;
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| |  |  | assets are acquired at a fair price, used efficiently, and adequately protected;
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| |  |  | significant financial, managerial and operating information is relevant and reliable.
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Internal Audit also checks that
action plans to remedy internal control deficiencies identified during their assignments are actually implemented within the specified time-frames.



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Internal Audit is organized into three regional hubs (France, United States, Singapore), located close to frontline
activities and to the environments in which Sanofi operates. The hubs are backed up by two centers of excellence (Information Systems and Fraud) that carry out targeted assignments and provide know-how and
technical expertise to the regional hubs.

Sanofis internal audit function is subject to regular independent assessment in order to confirm its compliance
with international professional standards.

Other Participants in Internal Control

Operational divisions and support functions play a key role in the system of internal control, contributing to the preparation and updating of the Sanofi processes
framework and internal control manual.

The managerial committees (described in section 2.F.b of this report) also play an active role in managing our risk
management and internal control systems.

2.B. Control Environment

The
control environment refers to the policies, processes and structures that are collectively essential to the performance of internal controls within Sanofi.

Code
of Ethics

The Sanofi Code of Ethics defines the ethical principles and rules that must be followed when conducting Sanofi business. It helps each employee
determine the attitude he or she should adopt in relationships within and outside Sanofi. It is provided to all employees, and addresses issues such as:



| |  |  | prevention of conflicts of interest;
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| |  |  | prevention of insider dealing;
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| |  |  | fighting bribery and corruption;
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| |  |  | good promotional practices;
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| |  |  | the compliance helpline.
| | - |  | ------------------------

Deployment of the Code of Ethics is coordinated centrally by the Ethics & Business
Integrity Department through its network of compliance officers, including in newly-acquired entities. The department has developed a program designed to give employees a better understanding of the rules and principles contained in the Code of
Ethics, which it delivers through various training media.

Financial Code of Ethics

In accordance with U.S. securities law, Sanofi has adopted a Financial Code of Ethics that applies to the Chief Executive Officer, the Executive Vice-President Chief
Financial Officer and the Head of Finance Operations & Group Controlling  Deputy to the CFO. This Code stresses the fundamental importance of irreproachable ethical conduct on the part of key executives with responsibility for
financial information and financial reporting. The Chief Financial Officers of Sanofi entities are also required to attest each year that they adhere to and will abide by the Codes principles.

Policy on Prevention of Insider Dealing

As a result of the dual listing of
Sanofi in France and in the United States, both French and U.S. rules apply. Other countries rules may also apply given that Sanofi shares are owned by persons located in different countries. The policy provides background
information and familiarizes employees with insider dealing rules under French and U.S. laws, in particular rules relating to confidential information obtained in the course of their employment.



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Charters

Support functions may,
if they see fit, prepare a charter describing their mission, roles and responsibilities, which is made available to all Sanofi employees.

The IC&P, Internal
Audit and Risk Management departments each have their own charter.

Reference Documentation

Sanofi provides its employees with policies and standards designed to help organize and implement the requirements of the global support functions, and to ensure that
operations are conducted in an orderly and consistent manner.

These documents are centralized in GeodePlus, a dedicated documentation platform. Two main GeodePlus
interfaces are available:



| |  |  | Global Policies, collating policies and documents associated with operational divisions and support functions;
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| |  |  | Global Quality Documents, containing all directives and documents associated with the global quality department, which enable us to ensure that actions performed in all phases of our operations comply with
regulatory requirements specific to the pharmaceutical industry.
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In discharging their responsibilities, each department must ensure that the rules
are up to date and have been distributed, check that they are being properly applied, and inform the Executive Committee of any difficulties in implementation.

GPS Program

The control environment also relies on the GPS program described
in section 2.A.a. of this report. Deployment of the GPS program began in 2014 and is now complete:



| |  |  | the harmonized framework of processes and sub-processes is now also applied by Internal Audit in conducting its audit assignments;
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| |  |  | the internal control manual, including mandatory controls to be applied by all subsidiaries, was widely distributed from April 2015 onward. These controls were defined in active collaboration with the relevant
operational divisions and support functions, and with those regions and countries whose input was sought. The financial controls framework required to assess the effectiveness of internal control relating to the production of financial information
under SOA 404 has been combined with the mandatory controls framework so as to capitalize on the internal control manual and allow for the implementation of standardized evaluation programs.
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In addition, the Chief Executive Officer and the Executive Vice President Chief Financial Officer are required under Section 302 of the Sarbanes-Oxley Act to carry
out an evaluation of the effectiveness of our control procedures in respect of published financial information and fraud. To meet this objective, they push down the certification process to local level, requiring representation letters to be signed
off at year-end by the legal representatives and Chief Financial Officers of Sanofi entities as evidence of certification.

2.C. Risk Identification, Assessment and Management

For a description of the
main operational and financial risks to which we are exposed, refer to Item 3. Key Information  D. Risk Factors of the Annual Report on Form-20F, and also to section 3.B  Climate
Change of Chapter 4 of our French-language Document de référence; an English translation of that chapter will be posted under the title Corporate, Environmental and Social Responsibility Report Chapter 4 of the Registration
document 2016 (Grenelle II French law) on our corporate website, www.sanofi.com.

We have not identified any material financial risks associated with the
effects of climate change in the near term. As regards the medium to long term effects of climate change, our Planet Mobilization program will help us develop our understanding of those effects and any associated financial risks.



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A number of systems for identifying, assessing and managing risks coexist within Sanofi.

2.C.a. Identifying, Assessing and Managing Strategic Risks

The remit
of the Risk Committee is to assist the Executive Committee in fulfilling its risk management responsibilities. This Committee meets quarterly, and its members are managers drawn from operations and support functions. The heads of our Internal Audit,
Risk Management and IC&P departments are permanent members of the Committee. The Committee applies a structured methodology to identify, assess and manage transverse risks with a potentially material impact on our strategic objectives. More
generally, the Committee helps promote a responsible risk management culture within Sanofi.

The Risk Committee is backed by the Risk Management Department, which
works closely with all of our businesses and assists the Committee by:



| |  |  | ensuring that the risk management approach is implemented and deployed in operational units and global support functions;
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| |  |  | collating and assessing on a regular basis the actions taken to enhance the management of risks, especially those identified as inter-dependent risks (i.e. common to several operational divisions or support functions)
or emerging risks;
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| |  |  | identifying emerging risks and assessing their potential impact.
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Risk Management, which since November 1, 2016 has
been part of an extended Internal Audit and Risk Management department, is backed by a network of designated risk coordinators in each operational division and global support function whose role (within their sphere of responsibility) is to assist
management in managing major risks, to ensure that a system of risk management is properly deployed in line with the approach developed centrally, and to be an active member of the risk coordinator network.

2.C.b. Identifying, Assessing and Managing Operational and Financial Risks

In compliance with SOA 404 and with French legal requirements, a company-wide approach to identifying, assessing and managing operational and financial risks has been
implemented; it provides assurance as to the reliability of the system of internal control (GPS program), especially internal controls relating to the production of the financial statements.

As part of the process of enhancing internal control and launching the GPS program that took place in 2014, Internal Audit, Risk Management and IC&P updated the
catalogue of operational and financial risks to reflect changes in identified risks.

The Ethics & Business Integrity Department periodically updates its
fraud risk assessment, supported by an evaluation of the principal fraud risks inherent in Sanofis environment and sector and by a practical analysis of actual fraud cases investigated. As part of the deployment of the GPS program, various
fraud prevention controls were implemented during 2015 to address identified risks.

The IC&P Department has also developed operational and financial risk
indicators, and reports every month to the Executive Vice-President Chief Financial Officer on trends in those indicators and on any action taken to assess and/or mitigate those risks.

A Certification Committee conducts an annual evaluation of the system of internal control and risk management relating to the production and processing of accounting
and financial information, based on the findings established by IC&P. The results are reported to the Audit Committee, as are any internal control deficiencies that might result in material undetected error in the financial statements.

The Risk Management and IC&P departments were involved in preparing the description of risk factors presented in Item 3. Key Information  D. Risk
Factors of the Annual Report on Form-20F.



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2.C.c. Identifying, Assessing and Managing Risks Relating to the Safety of Products Under Development and Marketed
Products

The Pharmacovigilance and Epidemiology Department reports to the Chief Medical Officer, and develops structures and tools for assessing the safety
profile of products under development and of licensed or marketed drugs, medical devices, neutraceuticals, cosmetics and vaccines. Pharmacovigilance is responsible for developing and updating tools and procedures to satisfy all regulatory
requirements within its sphere of action. Operating procedures define the roles and responsibilities of those involved in the management of pharmacovigilance data, and in the reporting of such data (immediately or periodically) to the healthcare
authorities and/or to investigators.

In addition to assessing the safety profile of products under development and marketed products, Pharmacovigilance is
responsible for detecting and analyzing warning signals so that it can, if necessary, issue recommendations to limit the occurrence of side-effects, ensure the product is used properly, and provide healthcare professionals and patients with up-to-date medical information.

Pharmacovigilance helps assess the risk/benefit profile
of products, whether in clinical development or already on the market. For a definition of the risk/benefit profile, refer to Item 4. Information on the Company  B. Business Overview  Global Research &
Development of the Annual Report on Form 20-F.

Working with the clinical development and regulatory affairs
teams and the epidemiology unit, Pharmacovigilance coordinates the development of risk management plans and monitors their application. These plans summarize the safety profile of the products as established during the development phase, describe
the measures in place to monitor identified or potential risks, and propose guidelines to ensure the drug or vaccine is properly used.

In monitoring tolerance
through the clinical trials phase and gathering unsolicited information about products already on the market, Pharmacovigilance relies on the network of pharmacovigilance units based in Sanofi subsidiaries, and on contractual ties with development
and marketing alliance partners. These units also act as an interface between the local healthcare authorities and other departments within Sanofi entities.

Pharmacovigilance handles the pharmaceuticals and vaccines businesses using a single platform and standardized processes. All information collected about side-effects
for those businesses is centralized by Pharmacovigilance in a single global database.

An early warning system is in place to detect any risk liable to trigger the
crisis management procedure, and to notify the Chief Executive Officer without delay.

As regards the Animal Health business, Merial has a Global Pharmacovigilance
Department reporting to the head of Global Regulatory Affairs within Merials R&D function. Merial Pharmacovigilance systematically applies policies, procedures, and practices for assessing, controlling, communicating and reporting risks in
the Animal Health sector. A comprehensive set of procedures ensures quality and consistency for all pharmacovigilance-related activities, including adverse event data collection and reporting across the different Merial subsidiaries as well as by
third parties with whom Merial works.

2.C.d. Crisis Management

Sanofi has a crisis management policy, a key objective of which is to anticipate potential crises as far as possible, relying upon organizational and management
principles and early warning systems covering all our operations.



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2.D. Control Activities

Conducted at all hierarchical and functional levels of the organization, control activities address the risks described in section 2.C. of this report (Risk
Identification, Assessment and Management). Control activities are based on codes, policies, information systems, operating methods, and tools and practices.

The internal control manual contains mandatory controls for all processes and sub-processes. Mandatory controls address the
operational, financial and strategic risks to which Sanofi is exposed; they contribute to the system of permanent internal control and are within the responsibility of the operating divisions and support functions. In 2016, we launched a selective
annual self-assessment and three-year evaluation process covering the mandatory controls, with the extent of implementation at activity and country level dependent on how critical each activity and country is to our operations, and how material they
are to our consolidated financial statements

Mandatory controls included in the system of internal control relating to financial information are identified as such
in the financial controls framework, which is subject to evaluation using standard work programs in entities selected using a risk-based approach pursuant to SOA 404.

Those mandatory controls that address the risk of fraud are identified as participating in Sanofis anti-fraud program.

Our Finance Department organizes half-yearly meetings of Accounts Committees, which play a role in preparing the first-half and
year-end accounting closes at consolidated and individual entity level. Their remit includes reviewing the status of Sanofi entities in terms of accounting, tax, legal, treasury/financing and internal control
processes, and validating the application of Sanofi accounting policies.

2.E. Information and Communication

Information and communication refers to the flow of information supporting systems of internal control and risk management, from guidelines laid down by management
through to action plans. It contributes to establishing the control environment and to disseminating and promoting a culture of internal control, and enables relevant control activities to be performed in order to manage risks.

Within Sanofi, information and communication relies upon:



| |  |  | an organizational structure built around the Executive Committee so as to ensure clear and timely communication of senior management objectives to the operational divisions, support functions and regions;
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| |  |  | tools such as GeodePlus (a Sanofi-wide platform documenting all company policies), MyRVR (a tool for documenting internal controls relating to financial information, and for reporting deficiencies in those controls),
INTERACT (tool for reporting deficiencies identified in evaluations of mandatory controls), Magnitude (accounting consolidation) and HFM (budget reporting);
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| |  |  | internal control training sessions provided by IC&P to new members of the internal control correspondents network;
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| |  |  | initiatives to inform operational divisions and support functions about implementation of the GPS program.
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2.F.
Monitoring of Internal Control and Risk Management Procedures

2.F.a. The Board of Directors and its Specialist Committees

The Board of Directors, through its specialist committees and particularly the Audit Committee, obtains assurance that Sanofi has reliable procedures for monitoring the
system of internal control and for identifying, assessing and managing risks.



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The composition of the Board of Directors and its specialist committees, the way their work is organized, and their
contribution to the effective and transparent conduct of the companys affairs, are described in Item 6. Directors, Senior Management and Employees of the Annual Report on Form 20-F.

The Board Charter requires a discussion of the operating procedures of the Board to be included on the agenda of one Board meeting a year, with a formal evaluation
performed every three years.

In accordance with the publications and recommendations issued by the AMF:



| |  |  | the roles, responsibilities, composition and operation of the Audit Committee are defined in the Board Charter, and are consistent with the AMF report on audit committees published in 2010;
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| |  |  | the Board Charter, as updated and approved by the Board on a regular basis, specifies that the Audit Committee is responsible for monitoring:
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| |  |  | the process of preparing financial information;
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| |  |  | the effectiveness of internal control and risk management systems;
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| |  |  | the audit of the individual and consolidated financial statements by the statutory auditors; and
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| |  |  | the independence of the statutory auditors.
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The Audit Committee is informed periodically, and on request, about the
process used to identify, assess and manage the principal risks to which Sanofi is exposed.

2.F.b. Managerial Committees

Executive Committee

The Executive Committee, chaired by the Chief Executive
Officer, sets guidelines for internal control and risk management, allocates resources, and monitors actions that are implemented within Sanofi and supervised by local management committees in each operational unit.

The Committee meets as often as required by the need for rapid decision-making. It draws on the experience and competencies of its members to anticipate and monitor
risks and opportunities associated with developments affecting Sanofi itself and the pharmaceutical sector generally.

For details of the composition of the
Executive Committee, refer to Item 6. Directors, Senior Management and Employees  A. Directors and Senior Management of the Annual Report on Form 20-F.

Risk Committee

For details of how the Risk Committee participates in the
system of risk management, refer to section 2.C.a. of this report.

Compliance Executive Committee

Senior management has also set up a Compliance Executive Committee (CEC). The role of the CEC is to facilitate and oversee the effectiveness of all aspects of the Sanofi
compliance program. It sets overall guidelines, and also has an operational role in proposing and implementing actions to reinforce the effectiveness of the program and foster a continuing commitment to Sanofi values. The Committee is chaired by the
Chief Executive Officer.

Published Information Review Committee

The
Published Information Review Committee is responsible for reviewing and validating key documents intended for shareholders and the public, and for assessing the procedures and controls used in preparing such documents. The Committee has implemented
a process of reporting information to the Committees secretary to ensure that the Committee is kept informed of any significant event liable to impact the share price. The secretary then consults Committee members to determine what approach to
adopt as far as informing the public is concerned.



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2.F.c. Audits

Various
types of audit, covering all Sanofi entities, are conducted by Internal Audit and by expert audit teams from the Global Quality Department and the Health, Safety and Environment (HSE) Department.