#1Innovation to drive sustainable growth in Vaccines Part 1 Vaccines Investor Event June 29, 2023 sanofi#2sanofi Forward-looking statements This document contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. 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The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in Sanofi's annual report on Form 20-F for the year ended December 31, 2022. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. Brand names appearing in this presentation are trademarks of Sanofi and/or its affiliates. Not all trademarks related to products under development have been approved as of the date of this presentation by the relevant health authorities. 2 Vaccines Investor Event#3Agenda Vaccines Investor Event, June 29, 2023 2:00-2:10 Introduction 2:10-3:00 Expand leadership - Deliver Best-in-Class RSV franchise Win in Influenza 3:00-3:20 Q&A 3:20-3:40 Break 3 Vaccines Investor Event 3:40-4:30 sanofi New growth areas in vaccines - Enter multi-billion PCV market - Establish Best-in-Class meningitis portfolio - Leverage leading-edge mRNA platform New frontiers 4:30-4:40 Concluding remarks 4:40-5:00 Q&A#4sanofi Introduction Paul Hudson Chief Executive Officer#5Driving growth with strategic choices. sanofi DupixentⓇ Maximize patient benefits with ambition to achieve > €13bn peak sales across type 2 inflammatory diseases [COPD not included] €8.3bn sales in 2022, +43.8% 5 years after launch Vaccines Expected mid-to-high single-digit growth¹, through differentiated products, market expansion, launches Pipeline Prioritize and accelerate portfolio of potentially transformative therapies 6.3% growth in 2022 84 projects in clinical development DupixentⓇ® is a product in collaboration with Regeneron 1. Sales CAGR from 2018 base to 2025 5 Vaccines Investor Event#6sanofi Strategic transformation delivered first set of guidance targets 2020-2022 10 consecutive quarters of growth 540bps BOI margin improvement from 2019 to 20221 €2.7bn cost savings re-invested in growth drivers >25 value-creating BD and M&A deals Accelerating digitalization: use of AI and data science at scale BOI margin 30% EPS growth ~16% growth at CER Strong cash flow Ahead of guidance 1. 2018 proforma BOI margin of 24.6% without equity investment in Regeneron sold in May 2020, excluding IFRS16 impacts. 6 Vaccines Investor Event#7Powerful business and pipeline momentum in 2023 sanofi Launches ALTUVIIIO™ Beyfortus (nirsevimab) Tzield™ (teplizumab-mzwv) Pivotal readouts DUPIXENT (dupilumab) Expansion into COPD tolebrutinib (BTKI) Relapsing MS fitusiran Hemophilia A/B Early to mid-stage pipeline 27 readouts in immunology, vaccines, neurology, rare diseases, and oncology Baring unforeseen events. 7 Vaccines Investor Event#8Strong positive pipeline news flow in H1 2023 Submissions DupixentⓇ CSU US Read-outs DupixentⓇ COPD Phase 3 300,000 people with CSU inadequately controlled by antihistamines Around 900,000 patients in G7 itepekimab (IL-33) COPD Phase 3 IA Around 1.8m patients in G7 amlitelimab (OX40L) AD Phase 2b Moving in phase 3 frexalimab (CD40L) MS Phase 2b Moving in phase 3 SAR'765 Asthma Phase 1b (IL-13/TSLP) Moving in phase 2b SAR'566 (oral TNFi) Psoriasis Phase 1b Moving in phase 2b Dupixent is not yet approved neither in CSU nor COPD by any regulatory authority; itepekimab, amlitelimab, frexalimab, SAR'765 and SAR'566 are still under investigation and not yet approved. Barring unforeseen events. 8 Vaccines Investor Event sanofi#9sanofi Play to Win: Leverage innovation to drive next growth chapter 2020-2022 Refocus with decisive actions Growth through winning assets Margin expansion 2023-2025 Transformative launches Agile and efficient resource deployment Leading R&D productivity Barring unforeseen events. 1. Sales from 2018. 9 Vaccines Investor Event Guidance of BOI margin of >32% by 2025 2026-2030 Industry leader in immunology with >€22bn sales by 2030 Doubling vaccines sales by 20301 No meaningful LOE Ambition to launch 3-5 new products with €2-5bn peak sales potential each#10sanofi Expand leadership in vaccines Thomas Triomphe Head of Vaccines GBU Jean-François Toussaint Head of Vaccines R&D#11Our ambition in Vaccines ០០០ Continued strong growth driven by four core franchises: Influenza, Meningitis, PPH & Boosters, RSV Unlock the potential of mRNA in Vaccines with Next-Generation platform. Build an industry leading pipeline to address unmet needs More than double Vaccine sales by 2030¹ 1. Vs. 2018, risk adjusted, internal estimate 11 Vaccines Investor Event sanofi#12Execution of Play To Win strategy in Vaccines sanofi Focus on growth Lead with innovation +8% Sales growth 32 2018-2022 CAGR Countries with Beyfortus licenses Vaccines profitability +6pts from 2018 to 2022 2 Vaccines reached blockbuster status - - Fluzone HD Penta/Hexaxim New phase 1/2 programs over 2022-2023 1 Accelerate efficiency Merged Pharma & Vaccines manufacturing & supply, 2 Evolutive Facilities on track for 2025 operation Reinvent how we work +90% TBio experts retained across mRNA Center of Excellence 2 years post-acquisition 45% Female senior leaders 12 Vaccines Investor Event#13R&D transformation has started to deliver strong results State-of-the-art immunology & antigen design Innovative antigens designed, including mRNA-encoded bacterial vaccine approach High throughput translational science & proprietary MIMIC® technology introduced sanofi Selecting the best technology platform for each target 9 vaccine technologies employed across the pipeline Leading-edge mRNA platform added Expanding into new infectious diseases Chlamydia final antigens selected Acne mechanism of action validated Additional new research programs initiated * Compared to Dec 2021 13 Vaccines Investor Event#14sanofi At least 5 new FiC / BiC programs expected to enter phase 3 by 2025 2022-2023 progress Pipeline moving at pace 3 new products registered 6 new phase 1/2 programs Phase 3 & Registration mRNA Flu QIV Beyfortus ✓ RSV Older Adult ✓ RSV OA/PIV/hMPV 凡尔佳 Phase 1/2 ✓ MenPenta VaxigripTetra® 四价流感病毒裂解疫苗 く Acne ✓ NextGen Flu VidPrevtyn™) COVID-19 vaccine (recombinant, adjuvanted) Beta 14 Vaccines Investor Event 2021 2023e 2025e Pre-clinical#15Recent highlights from our leading-edge mRNA platform AI/ML augmented mRNA Workforce Next generation mRNA products sanofi Rapid deployment across the pipeline >600 experts and more than 30 collaborations across all aspects of the platform Proprietary generative modeling for mRNA and lipid design As many as 5 distinct LNPS clinically tested by 2023 4 mRNA enhancement features for next clinical candidate Pivot to modified mRNA and clinical validation in 9 months 7 phase 1/2 launched since 2022 15 Vaccines Investor Event#16Sanofi Vaccines is built on strong foundations sanofi R&D toolbox 9 vaccine technologies employed across the pipeline Extensive medical expertise Innovative approaches to generate impactful real-world evidence Industrial powerhouse Ability to deliver at scale Commercial strength Engagement of strong stakeholder networks We have what it takes to win in protection against preventable diseases 16 Vaccines Investor Event#17Sanofi societal commitments embedded in our business sanofi Affordable access R&D for unmet needs Planet care In and beyond the workplace Ensuring access to medicines for the poorest countries Acting for the most vulnerable communities Yellow Fever vaccine 17 Vaccines Investor Event Building sustainability for a healthy planet Blister-free vaccine Building an inclusive workplace#18Yellow Fever program with thorough Global Access Plan South & Central America: 13 countries Africa: 29 countries/regions 109,000 severe infections and 51,000 deaths in 2018 worldwide 18 Vaccines Investor Event >500 million doses distributed worldwide since 1953 Major partner and supplier of UNICEF, committed to stay ready to respond to outbreaks sanofi unicef✪ Positive phase 2 results of our next generation vaccine#19sanofi Ambition to manufacture 100% blister-free packaging by 2027 > Saving ~330 tons of plastic per year Reducing the amount of microplastics in the environment > Up to 50% reduction of transported pallets Reducing the need for cold chain space and transport by ~1/3rd > 30% reduction in distribution costs > 40% of blister-free syringes by end of 2023, 100% by 2027 19 Vaccines Investor Event Before Zero blister Now#20sanofi New data from 12 assets featured today Deepen our leadership in existing franchises Influenza Fluzone HD Influenza QIV mRNA Next-gen mRNA Flu vaccine Fluzone HD pediatric Pandemic Influenza Meningitis Travel & Endemic RSV New growth areas Pneumo MenQuadfi Beyfortus PCV21 MenB RSV toddler MenPenta Next-gen Yellow fever Next-gen rabies RSV older adult (OA) RSV OA respiratory combo New frontiers Chlamydia Acne 20 Vaccines Investor Event Data to be shared today#21sanofi Deliver Best-in-Class RSV franchise Kimberly Tutwiler Head of RSV Franchise Jean-François Toussaint Head of Vaccines R&D#22Ambition to lead in RSV across all target populations sanofi Older Adult 60% RSV Market ~€8bn 2030 Infant 30% Toddler 10% Beyfortus Best-in-Class immunization for All Infant Protection in first season RSV Toddler SPO125: First-in-Class vaccine for protection from second season onwards RSV Older Adult SPO256: First-in-Class RSV-hMPV-PIV combination Source: Sanofi internal forecast 22 Vaccines Investor Event#23sanofi U.S. Advisory committee votes 21-0 in favor of nirsevimab FDA Unanimously voted in favor for 1st season Favorable benefit/risk profile for prevention of RSV LRTD in newborns & infants born during or entering 1st season Voted 19-2 in favor for 2nd season Favorable benefit/risk profile for prevention of RSV LRTD in children up to 24 months of age who remain vulnerable ACIP meeting anticipated before the RSV season 23 Vaccines Investor Event#24HARMONIE STUDY HARMONIE study confirms pivotal trial data in real world setting Days 1 181 1st visit: randomization Monthly follow up Primary completion Participants: 8,000+ infants ≥29 weeks gestational age¹ Beyfortus N = 4,037 No intervention N=4,021 366 1 year follow-up SB Drysdale, (2023, May 8-12). A Phase 3 randomized open-label study of nirsevimab (versus no intervention) in preventing hospitalizations due to respiratory syncytial virus (RSV) in infants (HARMONIE) [Oral presentation]. ESPID 2023: Lisbon, Portugal. 1. Not eligible for palivizumab 24 Vaccines Investor Event sanofi Primary endpoint > Reduction of hospitalization due to RSV Lower- Respiratory-Tract-Infection (LRTI) Study objectives > Showcase seamless implementation in real world setting > Enrich hospitalization data in France, Germany and UK > Confirm safety profile in large population#25HARMONIE STUDY Excellent safety and tolerability profile confirmed sanofi Adverse Events Category Adverse Events type Any treatment emergent adverse event (TEAE) Leading to discontinuation of study Leading to death Grade 1 severity Nirsevimab (N=4,016) N, (%) 1,479 (36.8) 1 (< 0.1) 0 (0.0) 1,171 (29.2) No Intervention (N=4,020) N, (%) 1,326 (33.0) 1 (< 0.1) 0 (0.0) 1,014 (25.2) 436 (10.8) 46 (1.1) Grade 2 severity Grade 3 severity Unknown Any study treatment related TEAE Leading to discontinuation of study Leading to death Grade 1 severity Grade 2 severity Grade 3 severity Unknown Any serious TEAE Leading to discontinuation of study Leading to death 462 (11.5) 48 (1.2) 56 (1.4) 67 (1.7) 0 (0.0) 86 (2.1) 0 (0.0) 0 (0.0) 0 (0.0) 0 (0.0) 0 (0.0) 68 (1.7) 21 (0.5) 0 (0.0) 0 (0.0) 1 (< 0.1) 1 (< 0.1) 0 (0.0) 67 (1.7) 89 (2.2) 1 (< 0.1) 0 (0.0) 0 (0.0) 0 (0.0) SB Drysdale, (2023, May 8-12). A Phase 3 randomized open-label study of nirsevimab (versus no intervention) in preventing hospitalizations due to respiratory syncytial virus (RSV) in infants (HARMONIE) [Oral presentation]. ESPID 2023: Lisbon, Portugal. 25 Vaccines Investor Event#26HARMONIE STUDY Impressive 83% reduction of RSV-LRTI hospitalizations confirmed in real world setting Incidence of RSV-LRTI hospitalization 1.5% No intervention n=4,021 83.2% Relative Risk Reduction (95% CI: 67.8-92.0; p<0.001) 0.3% Beyfortus n=4,037 sanofi > RSV is the leading cause of hospitalization in infants. > Efficacy of Beyfortus has been consistent across all studies, and is maintained for 5 months to cover the duration of the RSV season 1. SB Drysdale, (2023, May 8-12). A Phase 3 randomized open-label study of nirsevimab (versus no intervention) in preventing hospitalizations due to respiratory syncytial virus (RSV) in infants (HARMONIE) [Oral presentation]. ESPID 2023: Lisbon, Portugal. 26 Vaccines Investor Event#27sanofi Nirsevimab expected to prevent 3x more RSV events than maternal vaccine Modeled impact of nirsevimab and maternal immunization in a U.S. birth cohort for first RSV season Key input Prevented RSV-related Events: Hospitalizations, Office and Emergency Room Visits nirsevimab Maternal Vaccine [Modelled with clinical data & assumptions from CDC comparison; not from head-to-head studies] 350,000 Efficacy RSV MA-LRTI 79.5% 51.3% 300,000 (success criteria not met) Reduction of RSV MA-LRTI hospitalization 83.2% 69.4% 250,000 % reduction of RSV-related events in babies born before season 50.5% 12.7% 200,000 % reduction of RSV-related events in babies born preterm 150,000 60.6% 4.1% 100,000 Immunization coverage rate 80% 50% NEW 50,000 Efficacy all-cause LRTI hospitalizations 58% 0 291,320 3х 90,173 2.5%¹ for MA-LRTI all-cause (success criteria not met) nirsevimab RSV maternal PreF vaccine Source Notes: Model- Kieffer A, Beuvelet M, Sardesai A, et al. Expected Impact of Universal Immunization With Nirsevimab Against RSV-Related Outcomes and Costs Among All US Infants in Their First RSV Season: A Static Model. J Infect Dis. 2022;226(Supplement 2):S282-s292. Inputs: Hospitalizations: CDC New Vaccine Surveillance Network (NVSN) hospitalization rates for children under 2 years of age from December 2016 to September 2020. Primary care & ER visits: Lively JY, Curns AT, Weinberg GA, et al. Respiratory Syncytial Virus-Associated Outpatient Visits Among Children Younger Than 24 Months. J Pediatric Infect Dis Soc. 2019;8(3):284-286. RSV season: National Respiratory and Enteric Virus Surveillance System (NREVSS) (2015-2019). Immunization rates pediatric CDC National Center for Health Statistics, DTaP https://www.cdc.gov/nchs/fastats/immunize.htm Immunization Rates Maternal: CDC FluVaxView Flu, Tdap, Covid Vaccination coverage among pregnant women April 2022 https://www.cdc.gov/flu/fluvaxview/pregnant-women-apr2022.htm. Efficacy nirsevimab: Simões EAF, Lancet Child Adolesc Health. 2023 Mar;7(3):180-189. Drysdale S, 41st Annual Meeting of the European Society for Paediatric Infectious Diseases (Lisbon). Griffin MP, et al. N Engl J Med. 2020;383(5):415-425. Hammitt LL, et al. N Engl J Med. 2022;386(9):837-846. Beyfortus. EU Summary of Product Characteristics (SmPC). Efficacy Maternal RSV preF vaccine: Kampmann B, Bivalent Prefusion F Vaccine in Pregnancy to Prevent RSV Illness in Infants. N Engl J Med 2023;388:1451-64 1. Included RSV MA LRTI all cause (2.5%) in the absence of data for all cause LRTI hospitalization to compare 27 Vaccines Investor Event#28sanofi Ready to launch Beyfortus in the 2023 season Production is already underway Stakeholders fully engaged > Licensed in EU, Great Britain, Canada Broad population programs expected in Spain and France License, ACIP recommendation and VFC inclusion expected soon > Contracting and reimbursement underway Priority review granted 28 Vaccines Investor Event Beyforbus C#29sanofi RSV in toddlers: significant burden in 2nd season and beyond Incidence Rates per 1000 200 RSV Burden in Toddlers 150 100 50 50 0 6-11 months 12-23 months Hospitalization visits Pediatric office visits Emergency room visits High rate of GP consultations due to diseases caused by RSV (0 to 5 years of age) Bronchiolitis 16.1 Antibiotic 6.9 prescription Respiratory 4.4 disease Acute respiratory disease 3.7 0.6 Pneumonia Influenza RSV 1. Hall CB, et al. Pediatrics. 2013;132(2):e341-e348. 2. Hall CB, et al. N Engl J Med. 2009;360(6):588-598. 2. Taylor S, 2016 Modelling estimates of the burden of respiratory syncytial virus infection in children in the UK | BMJ Open 29 Vaccines Investor Event#30sanofi SP0125 is the first RSV vaccine designed to protect all toddlers Intranasal delivery design for complete toddler protection URTD - RSV inhibition at its point of entry LRTD - Broad protection against both upper and lower respiratory tract disease Live attenuated vaccine uniquely designed to ensure safety and maximize immunogenicity 30 Vaccines Investor Event#31sanofi Beyfortus and RSV Toddler vaccine provide continuous protection First RSV Season (October-March) - April September 40 Second RSV Season (October-March) Beyfortus administered ahead or during first season Protected for first RSV season 1st dose of RSV Toddler vaccine 2nd dose of RSV Toddler vaccine To be given during existing routine visits Protected from second RSV season onwards 31 Vaccines Investor Event#32Live attenuated vaccine (SP0125) Phase 1/2 design Days 1 DT 56 84 > Safety I I RSVt - Low dose n=61 Toddlers 6-18 mo RSVt High dose n=57 32 Vaccines Investor Event Placebo n=61 sanofi Adverse events following vaccination > Immunogenicity Neutralizing antibody responses > Vaccine response rate Composite endpoint factoring immunogenicity and vaccine virus replication#33SP0125 demonstrated safety profile similar to placebo sanofi First administration Participants experiencing at least one unsolicited AE within 28 days after vaccination RSVt LD (n=61) RSVt HD (n=57) Placebo (n=61) RSVt LD (n=48) Second administration RSVt HD (n=48) Placebo (n=54) n (%) n (%) Not related to vaccination 37 (60.7) 30 (52.6) n (%) 38 (62.3) n (%) 22 (45.8) n (%) 17 (35.4) Related to vaccination 5 (8.2) 6 (10.5) 4 (6.6) 4 (8.3) 3 (6.3) n (%) 23 (42.6) 2 (3.7) AE of special interest* 15 (24.6) 8 (14.0) 15 (24.6) 7 (14.6) 5 (10.4) 6 (11.1) Medically attended AE 28 (45.9) 23 (40.4) 26 (42.6) 19 (39.6) 14 (29.2) 17 (31.5) AE leading to study discontinuation 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 1 (1.6) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Serious AE Death 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) * Based on investigator assessment. AE of special interest: acute otitis media, upper and lower respiratory infections. 33 Vaccines Investor Event#34Strong vaccine response observed with SP0125 First administration 100 80 60 60 vaccine response rate (%) in subjects never exposed to RSV* 40 40 20 20 0 RSVt LD RSVt Placebo HD Two dose regimen * Absence of prior exposure to RSV was determined by measuring serum IgA before vaccination 34 Vaccines Investor Event RSVt LD RSVt HD Placebo sanofi > Strong (93%) vaccine response after two administrations of the High dose formulation > Marginal difference between the Low and High dose formulations#35Both formulations induced a robust immune response Serum neutralizing antibody levels % volunteers 100 80 60 40 40 20 20 0 1 10 1000 10000 100 Neutralizing Titre (1/dil) RSV low dose at DO RSV high dose at DO Placebo at DO RSV low dose at D84 RSV high dose at D84 Placebo at D84 1. Absence of prior exposure to RSV was determined by measuring serum IgA before vaccination 2. Karron et.al. Am J Respir Crit Care Med Vol 203:5, 2021 35 Vaccines Investor Event sanofi Robust neutralizing antibody response in toddlers not previously exposed to RSV1 Similar immune response observed for the Low and High dose formulations > Immune response in line with prior studies that showed reduction of RSV-medically attended disease² Move to phase 3 in H1 2024#36sanofi RSV Older Adult: addressing important unmet need with the most compelling respiratory combination vaccine > Disease burden from RSV-hMPV-PIV similar to Influenza Estimated burden in US >65 population: 1-6 > Limited antigenic drift of RSV, hMPV and PIV removes need for annual vaccination8 RSV hMPV PIV Combo Influenza Hospitalisations 177K 100K 90K 367K 280K (proportion of vaccinated flu burden) Deaths 14K 8K 7K 29K 30K (proportion of vaccinated flu burden) 1. Widmer et al., 2012; 2. Russell et al., 2019 (62% of RSV); 3. Colosia et al., 2017; 4. Using RSV rate from Colosia 2017 as proxi. 5. https://www.cdc.gov/rsv/research/us-surveillance.html 6.Compilated data from CDC, 9 seasons from 2010-2011 to 2018-2019 https://www.cdc.gov/flu/about/burden/index.html 7. Burden in already vaccinated pop 8. Assuming vaccine durability >1 year 36 Vaccines Investor Event#37sanofi SP0256 Phase 1/2 trial design of mono vaccine in older adults Days 29 mRNA Dose 1 ; LNP #1 mRNA Dose 1 ; LNP #2 n= 10 & 100 > Safety n= 10 & 100 Adults 18-49 mRNA Dose 2 ; LNP #1 n= 10 & 100 mRNA Dose 2 ; LNP #2 n= 10 & 100 & ≥60 yo mRNA Dose 3 ; LNP #1 n= 10 & 100 Adverse events following vaccination > Immunogenicity Serum neutralizing antibody response measured by plaque reduction neutralization assay mRNA Dose 3 ; LNP #2 n= 10 & 100 Placebo n= 10 & 100 37 Vaccines Investor Event#38sanofi Positive phase 1/2 results support SP0256 as the backbone for the combo respiratory vaccine % participants with solicited reactions D7 100 80 60 60 40 20 20 Reactogenicity (selected formulation) Neut Ab GMTR (D29/D1)* 25 Boosted RSV-A Neutralizing Antibodies (selected formulation) 25 20 20 15 10 11.5 5 5.4 I 1.0 - MRNA RSV OA vaccine was well tolerated mRNA RSV OA vaccine significantly boosted RSV neutralizing antibody responses Vaccine Younger Vaccine Older Saline Older Adults 18-49 Adults >60 Adults >60 Grade 1 Grade 2 Grade 3 *RSV-A neutralizing antibodies Geometric Mean Titer ratio (D29 vs baseline D1 38 Vaccines Investor Event 0 Vaccine Younger Vaccine Older Saline Older Adults 18-49 Adults >60 Adults >60#39sanofi Only Sanofi has the potential to offer Best-in-Class protection for all targeted ages Beyfortus Best-in-Class for All Infant Protection in first season SPO125 PROFILE First-in-Class vaccine for second season onwards SPO256 First-in-Class with RSV-hMPV- PIV mRNA combination Ready for launch 39 Vaccines Investor Event NEXT STEPS Phase 3 start in H1 2024 Target submission in 2026 Phase 2b RSV & Phase 1/2 combo start in 2023 Target submission for combo in 2026+#40Wild sanofi Win in Influenza Bill Averbeck Head of Influenza Franchise Saranya Sridhar Head of Translational Medicine#41Sanofi is the global leader in Influenza vaccines Pioneered the transition to quadrivalent flu vaccines Worldwide market leader with €3bn sales in 2022 41 Vaccines Investor Event sanofi Established Protection Beyond Flu as the new standard of care Pursuing the next chapter in flu with mRNA technology Leading with innovation rooted in Protection Beyond Flu#42Three attributes imperative for winning in seasonal flu میرا 42 Vaccines Investor Event Protection Beyond Flu sanofi Demonstrated efficacy in hospitalization and infection reduction through high quality / consistent data - not just immunogenicity Safety & tolerability Excellent tolerability profile Administration Fully liquid formulation, pre-filled syringe Shelf life covering duration of flu season at refrigerator temperature (2-8 C)#43PBF It takes Protection Beyond Flu to win Fluzone HD share of U.S. 65+ years old flu market value, $bn Immunogenicity Superior Efficacy Fluzone HD and Flublok in CDC preferential recommendation for 65+ Protection Beyond Flu 1.7 1.6 1.4 1.0 1.1 0.8 0.7 0.6 0.4 0.5 0.3 0.3 0.3 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Other Fluzone HD Source: Sanofi internal analysis 43 Vaccines Investor Event sanofi#44PBF Fluzone High-Dose/Efluelda set the bar high in 60/65+ Outstanding results confirmed in most recent randomized real-world studies Driving global expansion Objective Design DANFLU-11 Impact of QIV HD vs SD on pneumonia and influenza (P&I) and other hospitalizations Randomized real-world study 12k subjects 65-79 DANFLU-22 Impact of QIV HD vs SD on P&I and other hospitalizations Randomized real-world study Target 208k subjects 65+ Recommendations or preferential reimbursement in 10+ key markets Outcome / next steps 64.4% reduction in P&I 19k randomized to date hospitalization Presented at ESC 2022, accepted in NEJM Evidence Started in 22/23 season 1. Johansen ND, et al. NEJM Evidence. 2023. 2. Clinicaltrials.gov: NCT05517174. 44 Vaccines Investor Event sanofi#45Tolerability HCPs and consumers are unlikely to use vaccines with 3x severe side effect burden compared to Standard Dose HCPs % Preference Share -69% SoC mRNA vaccine with 2x Grade 2 side effects vs. SoC mRNA vaccine with 3x Grade 3 side effects vs. SoC Increasing reactogenicity Consumers % Preference Share -69% SoC mRNA vaccine with 2x Grade 2 side effects vs. SoC mRNA vaccine with 3x Grade 3 side effects vs. SoC Increasing reactogenicity Source: Based on quantitative and qualitative conjoint analysis market research. Q4 2022. US, UK, DE, & AU. Quantitative: 2180 consumers, 501 HCPs. Qualitative: 72 consumers, 94 HCPs. 45 Vaccines Investor Event sanofi#46Administration HCPs do not accept administration hurdles for flu vaccines Workplace Doctor's office Pharmacy Flu vaccination networks set up to maximize access; unfit to manage ultra-cold chains and short shelf life Drive- through III School Lack of refrigerator-stable, full-season product could decrease HCP uptake/use by -37% Source: Based on quantitative and qualitative conjoint analysis market research. Q4 2022. U.S., UK, Germany and Australia. Quantitative: 2180 consumers, 501 HCPs. Qualitative: 72 consumers, 94 HCPs. 46 Vaccines Investor Event sanofi#47Comprehensive mRNA flu vaccine program SP0273 mRNA Flu QIV Days 29 I sanofi n=65 & 65 Phase 1/2 study Flu QIV (modified mRNA) Safety and immunogenicity with 3 different LNPs mRNA Flu QIV Dose 1 MRNA Flu QIV Dose 2 n=65 & 65 Adults Adults MRNA Flu QIV Dose 3 n=65 & 65 & 18-64 yo ≥65 yo Fluzone Standard Dose n=60 & 60 Flublok n=60 & 60 Fluzone High-Dose n = 0 & 60 mRNA neuraminidase (NA) Days 29 mRNA NA Dose 1 n=30 & 30 Adults 18-64 yo Adults mRNA NA Dose 2 n=30 & 30 & ≥65 yo mRNA NA Dose 3 n=30 & 30 Fluzone High-Dose n=30 & 30 47 Vaccines Investor Event Neuraminidase (unmodified mRNA and LNP#1) - Pilot study to test neuraminidase immunogenicity#48Strong immune responses against A strains. GMTR D29/D01 32 16 8 + 2 sanofi Hemagglutination inhibition titers in 18-64 years old H % Seroconversion 100 80 80 60 60 40 40 20 SPO273 results - Immune response for A strains comparable to SoC - Immune responses for B strains trend lower than SoC 1 0 A/H3N2 A/H1N1 B/YAM B/VIC A/H3N2 A/H1N1 B/YAM B/VIC SP0273 mRNA Flu QIV 48 Vaccines Investor Event Fluzone SD Flublok#49sanofi Immune response in line with other mRNA flu vaccine program mRNA flu QIV results Hemagglutination inhibition titers Sanofi 18-64 years Competitor data¹ >18years 32 In both mRNA trials: % Seroconversion GMTR D29/D01 100 80 60 40 20 16 A/H3N2 A/H1N1 B/YAM B/VIC 0 A/H3N2 A/H1N1 B/YAM B/VIC SP0273 mRNA Flu QIV Fluzone SD 49 Vaccines Investor Event % Seroconversion 1- H1N1 H3N2 135 90- 80- 70- 60- 50- 40- 30- 20- 10- 0. 5 Afluria- 25 50 B/Yamagata B/Victoria T Afluria- H 1. Moderna Third Annual Vaccines Day March 24th, 2022. Phase 2, Age group 18 y and older. DISCLAIMER: data from separate studies should be interpreted with care. H1N1 H3N2 B/Yamagata B/Victoria - A strain results similar to comparator - Low B response is a class effect across mRNA platforms#50sanofi SP0273 reactogenicity compares favorably to other mRNA trial 20 20 15 10 10 % Any Grade 3 solicited injection site reactions 5 8 Reactogenicity in 18-64 years 3 0 0 SP0273 Fluzone Flublok mRNA Flu QIV Standard Dose 7 20 20 S 10 % Any Grade 3 solicited systemic reactions mRNA-1010 Moderna¹ 5 15.8 SP0273 results Reactogenicity higher compared to current licensed flu vaccines - Systemic reactions lower than in a comparator mRNA vaccine in a different trial¹ 0 0 0 SP0273 Fluzone Flublok mRNA Standard Flu QIV Dose mRNA-1010 Moderna¹ 1. Data collected by Moderna in 18-49 years volunteers in a separate phase 2 trial. Moderna Third Annual Vaccines Day March 24th, 2022. DISCLAIMER: data from separate studies should be interpreted with care. 50 Vaccines Investor Event#51sanofi Ambition to match our Standard of Care in influenza with Sanofi's next-generation mRNA vaccine Machine learning Utilize advanced computational techniques to optimize strain selection Y Antigen composition Focus on neuraminidase to improve vaccine effectiveness 51 Vaccines Investor Event Protection Beyond Flu is the centerpiece of clinical efforts#52Potential to improve coverage with Machine Learning Proof of concept achieved for H3 & H1 strains ML model robustly selects strains with greater breadth¹ ML-strains cover broader H1 Seasonal Influenza Space vs WHO strain² Antigenic space 2 Antigenic space 1 WHO strain ML Selection Breadth of coverage 52 Vaccines Investor Event sanofi 6B.1A.5a.2 8.00 6B.1A.5a.2 6B.1 4.00 0.00 WHO strain -4.00 6B.1A.5a.1 ML1 strain 6B.1A.1 -8.00 ML2 strain 6B.1A.5b 6B.1A 6B.1A.5a.1 6B.1A.5a.1 ML offers meaningful advances in strain selection process as demonstrated now also for H1 strains 1. Theoretical representation for illustrative purposes 2. Log2 fold change of mNT titers compared to WHO strain. Color boxes represent different H1 sequence clades from Nexstrain#53Comprehensive mRNA flu vaccine program SP0273 Days 29 mRNA Flu QIV mRNA Flu QIV Dose 1 mRNA Flu QIV Dose 2 n=65 & 65 n=65 & 65 Adults Adults mRNA Flu QIV Dose 3 n=65 & 65 & 18-64 yo ≥65 yo Fluzone Standard Dose Flublok n=60 & 60 n=60 & 60 Fluzone High-Dose n = 0 & 60 mRNA neuraminidase (NA) Days 29 mRNA NA Dose 1 n=30 & 30 Adults 18-64 yo Adults mRNA NA Dose 2 n=30 & 30 & ≥65 yo mRNA NA Dose 3 n=30 & 30 Fluzone High-Dose n=30 & 30 53 Vaccines Investor Event sanofi Phase 1/2 study Flu QIV (modified mRNA) - Safety and immunogenicity with 3 different LNPs Neuraminidase (unmodified mRNA and LNP #1) - Pilot study to test neuraminidase immunogenicity#54sanofi mRNA neuraminidase immunogenicity as strong as Fluzone HD GMTR D29/D01 8 N 1 Neuraminidase inhibition titers (N2) % Seroconversion 100 80 60 40 20 mRNA neuraminidase results - Immune responses comparable to Fluzone HD - NB: Fluzone HD has 2.5 to 3 times higher NA concentrations than SD vaccines and sets the bar for future vaccines¹ - Good tolerability and safety, comparable to Fluzone HD2 0 18-64 years ≥ 65 years 18-64 years ≥ 65 years MRNA NA Fluzone HD 1. Gao Z, Robinson K, Skowronski DM, De Serres G, Withers SG. Vaccine. 2020 Jan 22;38(4):715-718. doi: 10.1016/j.vaccine.2019.11.041 2. Data on file 54 Vaccines Investor Event#55Offering superior flu protection for key age groups at risk 55 Vaccines Investor Event Vaxigrip Tetra / Fluzone SD Flublok / Supemtek sanofi Fluzone HD / Efluelda PBF SOC SP0273 Next-generation mRNA flu Enhance B strain immune response, improve immunogenicity, upgrade antigen design & optimize strain selection via machine learning Acceptable tolerability and thermostability#56Q&A session Part 1 Thomas Triomphe Head of Vaccines GBU Jean-François Toussaint Head of Vaccines R&D Kimberly Tutwiler Head of RSV Franchise Bill Averbeck Saranya Sridhar Head of Influenza Franchise Head of Translational Medicine#57Innovation to drive sustainable growth in Vaccines Part 2 Vaccines Investor Event June 29, 2023 sanofi#58Agenda Vaccines Investor Event, June 29, 2023 2:00-2:10 Introduction 2:10-3:00 Expand leadership - Deliver Best-in-Class RSV franchise Win in Influenza 3:00-3:20 Q&A 3:20-3:40 Break 58 Vaccines Investor Event 3:40-4:30 sanofi New growth areas in vaccines - Enter multi-billion PCV market - Establish Best-in-Class meningitis portfolio - Leverage leading-edge mRNA platform New frontiers 4:30-4:40 Concluding remarks 4:40-5:00 Q&A#59sanofi Enter multi-billion PCV market Thomas Grenier Head of Franchise & Product Strategy Jean-François Toussaint Head of Vaccines R&D#60sanofi Drive growth with PCV21 in attractive pediatric market Large pneumococcal vaccine market ~80% €6.8bn (Global, 2022) PCV21: growth driver with strong portfolio fit > Focus on pediatric development > First-in-Class PCV20+ in pediatric population > Synergy with Sanofi pediatric vaccine portfolio > Strong collaboration with SK Bioscience Pediatric Adult / Elderly Source: Pfizer, GSK, Merck 2022 Annual Reports; Sanofi estimates 60 Vaccines Investor Event ~20%#61sanofi First PCV21 pediatric vaccine extends protection against disease Serotype composition per vaccine IPD incremental coverage rate in all ages¹ 1 3 4 5 6A 6B 7F 9V 14 18C 19A 19F 23F 22F 33F 8 10A 11A 12F 15B 9N 2 17F 20 33F 8 10A1 Sanofi PCV21 Pfizer PCV20 Merck PCV15 Pfizer PCV13 27% NVT/Others 37% 5% PCV21 non PCV20 6% 31% PCV20 non PCV15 17% 14% 9% PCV15 non PCV13 26% 29% PCV13 non PCV10 US 2019+2020 EU 2019+2020 NVT: Non-vaccine type NT: Non-typable IPD: Invasive pneumococcal disease 1. All age groups - US ABC data and ECDC Surveillance Atlas 2. Internal model 3. Tiley KS, J Infect Dis 2022; Plainvert C, Infect Dis Now 2022; Ekinci E, Front in Pediatr 2021. 61 Vaccines Investor Event Significant residual burden in U.S. pediatrics < 5 years² ~1,500 cases IPD 1.5m Acute Otitis Media cases - 270k cases of pneumonia 9N serotype provides ~5-7% pts gain in IPD coverage across all ages1,3#62sanofi PCV21 (SP0202) Phase 2 designed to enable pivotal program Study design 4-dose regimen Months > Safety 2 4 6 7 12 15 13-16 PCV21 Formulation #1 n= 175 PCV21 Formulation #2 Infants 2 Months n= 175 PCV21 Formulation #3 n = 175 62 Vaccines Investor Event PCV13 n = 175 > Immunogenicity - Post-dose 3 IgG geometric mean concentration and seroresponse Post-dose 4 IgG geometric mean concentration => Standard evaluation criteria for pivotal trials and registration > Select formulation for pivotal program#63PCV21 (SP0202) well-tolerated in pediatric population Safety profile comparable with PCV13 across all 4 doses. % of participants reporting Solicited injection site reactions 100 80 60 40 20 0 Dose 1 Dose 2 Dose 3 Dose 4 PCV21 PCV13 PCV21 selected formulation for next phase PCV21 Phase II [NCT04398706] 63 Vaccines Investor Event % of participants reporting Solicited systemic reactions 100 80 60 40 20 0 Dose 1 Dose 2 Dose 3 Dose 4 sanofi#64sanofi Favorable PCV21 immune responses when compared to PCV20 Serotypes shared by PCV13, PCV20 and PCV21 IgG GMC ratio and difference % seroresponse vs PCV13 Post Dose 3: IgG GMC ratio Post Dose 3: Difference seroresponse Post Dose 4: IgG GMC ratio 1 3 4 5 HOH 6A 6B 7F 9V 14 18C 19A 19F 23F 0,25 HH 0,5 1 2 4 1 3 4 5 6A 6B 7F 9V 14 18C 19A 19F 23F -30 -10 10 134 5 6A 6B 7F 9V 14 18C 19A 19F 23F 30 0,25 0,5 PCV21 Phase II [NCT04398706] Seroresponse: IgG concentration ≥0.35 μg/mL for all serotypes PCV20 Phase III [NCT04382326] Seroresponse: IgG concentration ≥0.35 μg/mL for all serotypes except ≥ 0.23 µg/mL, 20.10 μg/mL and ≥ 0.12 µg/mL for serotypes 5, 6B and 19A respectively PCV21 selected formulation for next phase DISCLAIMER: data from separate studies should be interpreted with care. 64 Vaccines Investor Event 1 2 4 PCV21 Phase 2 PCV20 Phase 3 Registration criteria based on PCV13#65sanofi Favorable PCV21 immune responses when compared to PCV20 Serotypes shared with PCV20 or unique to PCV21 IgG GMC ratio and difference % seroresponse vs lowest in PCV13 group Post Dose 3: IgG GMC ratio Post Dose 3: Difference seroresponse Post Dose 4: IgG GMC ratio 8 NG 9N 10A 11A 12F 15B 22F HHH K 33F HH 0,25 0.5 1 4 8 9N 10A 11A 12F 15B 22F 33F 16 -30 -10 10 8 9N N 10A 11A 12F 15B 22F 33F 30 0,25 0.5 1 4 16 PCV21 Phase II [NCT04398706] Seroresponse: IgG concentration ≥0.35 μg/mL for all serotypes PCV20 Phase III [NCT04382326] Seroresponse: IgG concentration ≥0.35 μg/mL for all serotypes except ≥ 0.23 µg/mL, 20.10 µg/mL and ≥ 0.12 µg/mL for serotypes 5, 6B and 19A respectively Note: difference (% and GMC ratio) vs lowest serotype in PCV 13 PCV21 selected formulation for next phase DISCLAIMER: data from separate studies should be interpreted with care. 65 Vaccines Investor Event PCV21 Phase 2 PCV20 Phase 3 Registration criteria based on PCV13#66Innovative carrier to break serotype composition ceiling Introducing new carrier for 4 serotypes to improve performance Robust performance of the 4 serotypes conjugated to TT Post Dose 4: IgG GMC ratio 1 3 4 5 6A 6B 7F 9V 14 18C 19A 19F 23F 8 9N 10A 11A 12F 15B 22F 33F PCV13 PCV21 Carrier protein TT Carrier protein CRM 197 GMC ratio vs Prevnar 13 16 0,25 1 5 PCV21 Phase 2 PCV21 Phase II [NCT04398706] Seroresponse: IgG concentration 20.35 µg/mL for all serotypes PCV20 Phase III [NCT04382326] Seroresponse: IgG concentration ≥0.35 μg/mL for all serotypes except ≥ 0.23 μg/mL, ≥0.10 μg/mL and ≥ 0.12 µg/mL for serotypes 5, 6B and 19A respectively Note: for serotypes 15B and 22F, difference (% and GMC ratio) vs lowest serotype in Prevnar 13 DISCLAIMER: data from separate studies should be interpreted with care. 66 Vaccines Investor Event 15B PCV20 Phase 3 22F sanofi#67Phase 2 interchangeability data support PCV21 as booster Single booster dose 0 Days 30 Toddlers 12-15 Mo 100 PCV21 Formulation #1 n = 35 PCV21 Formulation #2 n = 35 PCV21 Formulation #3 n = 35 primed with 3 doses of PCV13 at 2, 4, 6 months 67 Vaccines Investor Event GMC μg/mL 1 Boosting effect is comparable to PCV13 for common serotypes GMC μg/mL 1 100 10 sanofi Robust immune response for the additional serotypes PCV13 n = 35 H 0,1 0,1 1 3 4 5 6A 6B 7F 9V 14 18C 19A 19F 23F 8 9N 10A 11A 12F 15B 22F 33F PCV21 PCV13#68sanofi Ambitious program with first pediatric PCV20+ vaccine; clear blockbuster potential Phase 3 starts in H1 2024 Expected submission in 2027 Initiating development of next generation PCV21+ vaccines 68 Vaccines Investor Event#69sanofi Establish Best-in-Class meningitis portfolio Thomas Grenier Head of Franchise & Product Strategy Saranya Sridhar Head of Translational Medicine#70Consolidate MenQuadfi market leadership sanofi International roll-out ongoing MenQuadfi registered in 53 countries and expanding WHO pre-qualified > Best-in-Class MenACWY profile Novel serogroup-specific design, unique chemical and structural features - Higher serogroup C responses Fully-liquid presentation O Broad age-indication - Up to 7 years persistence in different age groups > Leadership in the U.S. with >60% MS source: Sanofi DDD CDC & others 70 Vaccines Investor Event#71hSBA GMTS sanofi New clinical evidence reinforces MenQuadfi's Best-in-Class profile Immune response vs. competition Adolescents (10-17 years) Higher or comparable immune response vs. Pfizer's ACWY in adolescents Comparison of hSBA GMT responses 30 days after vaccination¹ GMTS 200 Infants & Toddlers (2-12 months) Higher immune response with 3 doses of MenQuadfi vs. 4 doses of GSK's ACWY Comparison of hSBA GMT responses 30 days after vaccination² Primary vaccination GMTS GMTs 3000 1024 Booster 150 100 50 0 0 A W Y C MenQuadfi (N=159) Pfizer's ACWY (N=161) 1. Sanofi data on file (MEQ71) 71 Vaccines Investor Event 256 2000 64 16 1000 4 1 A C MenQuadfi® (N=176) W Y A C W (2, 6 months old) GSK's ACWY (N=81) (2, 4, 6 months old) MenQuadfi® (N=126) (12 months old) 2: Sanofi data on file (MET33) Y GSK's ACWY (N=60) (12 months old).#72MenQuadfi first and only ready-to-use syringe Source: Sanofi data on file 72 Vaccines Investor Event > ~80% preference by U.S. HCPs¹ when ready-to-use syringe option is available > Unique presentation competitive advantage: no other ACWY syringe available > U.S. FDA submission in July 2023, available early 2024 sanofi#73sanofi MenQuadfi addresses current recommendation for quadrivalent MenACWY immunization in most markets Complex and various routine recommendations¹ due to different IMD incidence by serogroup, age, geography Infants Toddlers Adolescents MenACWY (11&16 yrs) U.S. France MenB (3 mo) MenC+B (5 mo) Germany Italy MenB (3,4,6 mo) MenC+B (12 mo) MenC (12/23 mo) MenACWY (13-15mo) Spain MenC (4 mo) MenB (2,4 mo) Saudi Arabia MenACWY (9 mo) MenC (12 mo) MenC+B (12 mo) MenACWY (12 mo) MenACWY (12 mo) MenACWY (12 yrs) MenACWY (13/15 yrs) MenACWY (14-16 yo) MenACWY (18 yrs) UK Australia MenACWY (12/18 yrs) MenQuadfi currently has the most complete product profile > Immunization programs expected to evolve over time, including serogroup B adoption Many countries still transitioning from C to ACWY - Pace of ACWY switch to pentavalent highly dependent on schedule compatibility, cost effectiveness and impact on public budget 1. Published routine vaccination policies 2. In the U.S., MenB vaccination for 16- to 23-year-old people is a shared clinical decision 73 Vaccines Investor Event#74sanofi Novel MenB formulation (SP0230) to provide optimal protection MenB antigen formulation Phase 1/2 clinical study design Days 31 61 Non-Lipidated Non-Lipidated MenB Formulation #1 n=72 fHBP A fHBP B MenB Formulation #2 n=72 NadA Outer Membrane Vesicle MenB Formulation #3 n=72 Adolescents MenB Formulation #4 n=72 10-17 yo Adults MenB Formulation #5 n=72 4 major antigens used to cover broad diversity and variable strain expression 18-55 yo MenB Formulation #6 n=72 Bexsero (MenB GSK) n=72 Trumenba (MenB Pfizer) n=72 fHBP A: factor-H binding protein subfamily A; fHBP B: factor-H binding protein subfamily B; NadA: Neisserial adhesin A 74 Vaccines Investor Event#75sanofi MenB strong phase 1/2 results demonstrate competitiveness and support move to next phase hSBA seroresponse rate¹ - Sanofi MenB vs Bexsero² Vaccine strains² Cross-protection against strains not in the vaccine³ MenB Formulation 1 MenB Formulation 3 hSBA seroresponse rate¹ - Sanofi MenB vs Trumenba Vaccine strains² MenB Formulation 1 MenB Formulation 3 Higher point estimates (>+15%) similar (+/- 15%) Cross-protection against strains not in the vacine³ Lower (<15%) > Sanofi formulations were well tolerated > All antigens are immunogenic Breadth of protection reaching expected level 1. hSBA seroresponse - % of participants with ≥ 4-fold rise of antibody titer from baseline 2. Tested strains exhibiting one of the Sanofi vaccine antigen 3. Tested strains exhibiting different antigens from the Sanofi vaccine 75 Vaccines Investor Event#76sanofi Strong preclinical data support advancement of MenPenta program in ready-to-use syringe to phase 1/2 in H2 2023 20 10 Liquid MenPenta stability data give high confidence in PFS formulation % of Free Polysaccharide ACWY of MenPenta 0 0 2 4 6 8 10 Months Antigen Contents of MenPenta by RP-LC 200 150 100 50 0 0 2 4 6 8 10 Months No immune interference between MenPenta components (rabbit model) % of responders demonstrating a 4-fold increase between DO and D42 in a serum bactericidal assay Vaccines MenB MenPenta MenQuadfi 1 100 85 0 2 100 100 0 B Vaccine strains 3 100 100 0 4 100 100 0 fHBP A A 100 100 85 fHBP B NadA A, C, W, Y C 85 100 100 vaccine doMV strains W 0 100 100 Y 0 100 100 No immune interference between MenB and MenQuadfi antigens Good stability of the fully-liquid formulation > Advancing MenPenta liquid formulation to phase 1/2 in H2 2023 Source: Sanofi data on file 76 Vaccines Investor Event#77Comprehensive and competitive meningococcal portfolio provides new source of growth 77 Vaccines Investor Event MenQuadfi Best-in-Class MenACWY vaccine MenB formulation demonstrates strong potential for cross-protection across B strains Advancing MenPenta development in ready-to-use syringe with expected U.S. submission in 2027 sanofi#78OLYMPUS OP50 sanofi Leverage leading-edge mRNA platform Jean-François Toussaint Head of Vaccines R&D Frank DeRosa Head of Research for mRNA CoE#79sanofi Built a leading-edge mRNA platform in just 18 months 898 Execution 7 mRNA Phase 1/2 clinical trials: Flu, RSV, platform, 3 LNPs screened - >600 dedicated employees, of which >250 new recruits Extensive external network of academia, industry and government partnerships Innovation Innovative antigen, mRNA and LNP designs across viral and bacterial targets - Highly competitive LNP selected for improved immunogenicity and better tolerability - Developed high-throughput translational science model with proprietary MIMIC® system to predict clinical outcomes 79 Vaccines Investor Event#80Accelerated learnings from holistic data integration leveraging AI/ML models Antigen design Rationally designed for high immunogenicity and stability & mRNA design mRNA design space (Coding and non-coding Sequences) 5 generative and active learning ML models Multi features optimization LNP Optimization Predictive and generative models developed sanofi Adverse events Immunogenicity Clinical profile deep understanding & durability Inflammatory profiling Translational models I& 1st version of predictive modeling for reactogenic signatures 80 Vaccines Investor Event AI/ML models Platform evolution preclinical prediction טיני M Mechanism of action#81Platform now includes both viral and bacterial protein targets Robust preclinical antibodies titers across many target antigens (viral & bacterial) Viral Bacterial Neutralizing titer (log2) ** RSV rProt mRNA Neutralizing titer (log2) Source: Data on file. rProt = recombinant Protein 81 Vaccines Investor Event hMPV :: rProt mRNA Neutralizing titer (log2) 215- PIV3 OPK titers 107 106 Acne 1 Seroneutralization titers 100 10- 10³ rProt mRNA rProt mRNA Negative control rProt Acne 2 mRNA Negative control ELISA titer (log10EU) Chlamydia rProt mRNA Negative control sanofi#82sanofi Leverage leading-edge mRNA platform for Best-in-Class / First-in-Class mRNA vaccines and therapeutics D Potency Reactogenicity Thermostability Viral Targets Bacterial Targets Target balanced efficacy and tolerability Generate enhanced HCP and patient experience Utilize broad spectrum of applications 82 Vaccines Investor Event#83Expression relative to benchmark 10 20 30 Antigen (HA) GOD Potency Our new platform enables improved mRNA performance mRNA Sequence Optimization Process Increased Translation Efficiency (Polysome Profiling) 5' cap 5' UTR Coding Region 3' UTR Poly (A) Tail 15 Control sequence - Codon optimized Start Codon Stop Codon Codon 1 Codon 2 Codon 3 Codon 4 Codon 5 Codon 6 AUG GAG CUU CGG AGC UAG ~ 500 000 sequences generated in-silico ~ 1000 Sequences tested in-vitro 30+ Sequences tested in-vivo Source: Data on file 83 Vaccines Investor Event Optimized Construct # mRNA Translationally Active Proportion (%) mRNA copies (%) :༔;:: mRNA Translation ** Control Codon Sequence Optimized ** p < 0.01 Increased Protein Expression (Immunofluorescence) Control Sequence Target Protein Expression 40000- 30000- 20000- 10000- 0 Codon Optimized *** Control Codon Sequence Optimized *** p < 0.001 sanofi#84GOD Potency sanofi All four LNP components leave significant room for optimization 84 Vaccines Investor Event Ionizable lipid Helper lipid Cholesterol The ionizable lipid wraps around the mRNA and helps transport and release it to the targeted cell The helper lipid helps create the lipid membrane of the LNP, and it allows for the LNP to easily fuse to the mRNA's target cell and endosomal membrane Cholesterol enhances the stability of the LNP and ensures it is sturdy and rigid. This assists with the introduction of the mRNA into the cells PEGylated lipid Polyethylene glycol, or a PEG lipid, is what helps maintain the overall physical nanostructure of the LNP and protects the mRNA nanoparticles from the body's natural clearance mechanisms#85sanofi GOD Potency Sanofi novel science supports improved LNP and better potency +lonizable Lipid 100- (1) Helper Lipid (1) Sterol Protein (ng/ml) 80- 60 Intramuscular 40- 20- SM-102 MC3 Extensive ionizable libraries developed for improved potency for multiple routes of administration 85 Vaccines Investor Event HA Neutralizing Titers 10000 1000- 100- 10- (1) LNP1 LNP2 LNP3 1.1 LNP1 Control LNP1 Novel Helper LNP2 Control LNP2 Novel Helper LNP3 LNP3 Control Novel Helper Novel helper lipids demonstrating significant improvements in potency (~2-3x) PEGylated Lipid 00 0 Alt. PEG1 Alt. PEG2 Alt. PEG3 Alt. PEG4 PEG Control Buffer -LLOQ Protein (ng/ml) 100 80- 60- 40- 20- 0 6 h 24 h Protein (ng/mL) 150 (1) 100- 50- (3) (1) LNP1 LNP1 Control Sterol LNP21 LNP2a LNP2b Control Sterol Sterol Novel sterols demonstrating significant improvements in potency (~3-4x) Novel 5th Excipient (2) (3) Novel PEG alternatives maintaining performance in vivo Significant potency boost with excipient (~4x) LNP Control Excip #11 Excip #2 Excip #3 Excip #41 Excip #5 Excip #61 Excip #7 Excip #81 323 (1) p < 0.0001 (2) P < 0.001 (3) P < 0.01#86Reactogenicity sanofi Fast learnings from diverse clinical trials with mRNA and LNP Clinical trials Unmodified vs modified Mono- vs multi-valent Multiple targets Multiple LNPs (4+) Immunogenicity LNP3 (RSV) Multiple Sanofi LNP candidates LNP2 (RSV) LNP3 LNP1 (Flu) (Flu) LNP2 (Flu) LNP1 (Flu) Reactogenicity LNP2 (Flu) LNP with unmodified mRNA LNP with modified mRNA 86 Vaccines Investor Event#87Reactogenicity sanofi Sanofi's proprietary MIMIC® system to increase efficiency of mRNA screening Preclinical MIMIC Prediction Clinical Outcomes log2 fold-change in cytokines 50 40 40 30 20 20 10 0 2021 LNP 2 (Unmodified RNA) 87 Vaccines Investor Event LNP 2 (Modified RNA) 2023 LNP 3 (Modified RNA) Solicited Systemic Reactions (%) Solicited Systemic Reactions (%) comparator 100 ■Grade 1-2 80 ■Grade 3 60 40 20 0 rHA 40 20 ■Grade 1 ■Grade 2 ■Grade 3 Unmodified Dose Dose Dose Level 1 Level 2 Level 3 Modified IIV4 Modified Dose Dose Dose Dose Dose Level 1 Level 2 Level 3 Level 4 Level 5 0 LNP LNP LNP LNP 2 3 2 3 LNP LNP 2 3 LNP LNP LNP LNP LNP LNP 2 3 2 3 2 3 Fever Headache Chills Malaise Arthralgia Myalgia#88Thermostability Significant progress toward improved thermostability шипишит шиппишит шитиши ушитиши шипишит Monovalent LNP Multivalent LNP Prototype LNP demonstrating 12-months+ stability as 2-8°C liquid Change in % mRNA Integrity 100- 75- 50- 25- Prototype LNP 0 0 3 6 9 12 Months 88 Vaccines Investor Event sanofi Scale-up Industrial environment Increasing complexity QIV LNP demonstrating ~9 months stability as 2-8°C liquid 100 75- 50- Liquid LNP (Control) QIV LNP candidate + Excipient Next step: Achieve large scale batches Change in % mRNA Integrity 25 0 6 9 Months#89sanofi Our leading-edge mRNA platform is poised to break grounds in vaccine innovation 吧 Potency Reactogenicity Thermostability Competitive platform in just 18 months with 7 clinical trials... Viral Targets Bacterial Targets ...to cross new frontiers 89 Vaccines Investor Event mRNA Optimization LNP Optimization Novel Antigen Design ...innovating across technology... and biology#90sanofi New frontiers Dr William Geisler, MD, MPH Professor of Medicine and Epidemiology, University of Alabama at Birmingham Sally Mossman Head of Vaccine Research Portfolio Strategy#91Innovation to address unmet needs in infectious diseases Chlamydia Dr William Geisler on the burden of chlamydia disease Positive data enable selection of final vaccine candidate 91 Vaccines Investor Event sanofi Acne - Key preclinical data support clinical evaluation of therapeutic vaccine candidate GMP production to enable clinical evaluation ongoing#92sanofi Chlamydia#93sanofi Dr William Geisler, MD, MPH Professor of Medicine and Epidemiology, University of Alabama at Birmingham#9494 Chlamydia Burden and Need for a Vaccine#95Chlamydia is the most common bacterial STI worldwide (~129 million new cases annually) These numbers represent incident cases of chlamydia, gonorrhea, trichomoniasis and syphilis in 2016. 75 million 86 million Van Gerwen, et al. Nat Microbiol. 2022 95 23 million 34 million 51 million • 108 million • 2020: WHO estimated 377 million new cases of four STIs • Chlamydia: 129 million new cases Gonorrhea: 82 million new cases • Syphilis: 7.1 million new cases Trichomoniasis: 156 million new cases WHO region of the Americas WHO African region WHO Europe region WHO Eastern Mediterranean region WHO South East Asia region WHO Western Pacific region#96Chlamydia is a chronic infection and most infected persons do not have symptoms or signs of infection <25% Women Farley et al. Prev Med. 2003 96 Men <50% >50% >75% Asymptomatic Symptomatic Proportion of persistence 1.0 0.8 Natural Course of Chlamydia in 83 Asymptomatic Colombian Women Distribution of persistence Lower 95% CI Upper 95% CI 0.6 ~50% of infections persist at 1 year 0.4 0.2 0.0 0 Molano et al. J Infect Dis. 2005 3 2 Years#97Chlamydia has important health consequences, and the burden of morbidity is greater in women Causes upper genital tract inflammation in 10%-15% of women (PID), 1,2 which may be complicated by: • . Infertility (up to 18%)1 Chronic pelvic pain (up to 33%)³ • Ectopic pregnancy (3-fold risk)4 Associated with adverse pregnancy outcomes4 • Miscarriage, stillbirth, premature birth, and low birth weight (1.5-5-fold risk) • Infection in newborns (eye and lung infection) Increases risk for HIV acquisition (1.5-2-fold) 5-6 1. Haggerty, et al. J Infect Dis. 2010 2. Oakeshott, et al. BMJ. 2010 3. Ness, et al. Am J Obstet Gynecol. 2002 4. Tang, et al. Sex Transm Infect. 2020 5. Barker, et al. Sex Transm Dis. 2022 6. Malekinejad, et al. Sex Transm Dis. 2022 97#98Chlamydia control programs provide a comprehensive approach to preventing and treating chlamydia Abstinence Chlamydia Prevention Measures • • Sexual health education • Barrier methods (e.g., condoms) • NO VACCINE AVAILABLE GYT GET YOURSELF TESTED #GYT DO IT FOR: CONFIDENCE, PEACE OF MIND & YOU Chlamydia Testing (with highly accurate NAAT) . Routine screening in young women, MSM, and other women and men at risk • Diagnostic testing with symptoms/signs Chlamydia Treatment • Treatment of patient and partner(s) • Doxycycline x 7d or azithromycin x 1 effective • No antibiotic resistance concerns 2021 CDC STIS Treatment Guidelines 98 R#99Control programs have been ineffective in decreasing chlamydia rates, justifying need for a preventative vaccine Rate* 600- 500- 400- 300- 200- Rates of Reported Chlamydia Cases, U.S., 1984–2021* (* Per 100,000) Added to the Nationally Notifiable Conditions List CDC STD Surveillance, 2021 - 1,644,416 cases reported Estimated ~4 million new cases³ • Many chlamydia cases go undetected and untreated Natural infection does not elicit long-lived protective immunity in most - Reinfection occurs in up to 20% within one year¹ Treatment early in course of infection may impair immunity² 100- 0 1984 1994 2004 Year 2014 2021 1. Hosenfeld, et al. Sex Transm Dis. 2009 2. Brunham and Rekart. Sex Transm Dis. 2008 3. Kreisel, et al. Sex Transm Dis. 2021 99#100100 Thank you [email protected]#101sanofi Significant direct medical costs in STI attributed to chlamydia Chlamydia next to HPV in terms of costs in STIs HBV $46 M HSV-2 $91 M Trichomoniasis $144 M Syphilis $174 M Gonorrhea Chlamydia HPV $271 M $691 M $775 M HIV $13.7 B Direct medical costs by infection in U.S. Griffith UNIVERSITY Queensland government in Australia fully recognizes the burden of disease in chlamydia Supporting our vaccine development through the Translational Science Hub in Queensland Queensland Government THE UNIVERSITY OF QUEENSLAND AUSTRALIA Source: CDC's Sexually Transmitted Disease Surveillance, 2021, sexually Transmitted Disease Surveillance, 2021, accessed May 10 101 Vaccines Investor Event#102Chlamydia biology requires sophisticated vaccine design Chlamydia trachomatis (CT) is a bacterium that lives inside human cells Targeted immune profile 0 ° EB (elementary body) Y Antibodies may contribute to protection sanofi IFNY CD4 T cells Anti- bodies RB (reticulate body) Inclusion IFN-y producing CD4+ T cells are the primary mediators of protection Antibodies and CD4 T cell responses Recognition of multiple chlamydia serovars (serotypes) Broad population coverage (HLA: Human Lymphocyte Antigen) 102 Vaccines Investor Event#103IFNy spots/ 106 splenocytes 10000 1000 100 10 sanofi Innovative multi-antigen vaccine candidate achieves targeted immune profile, moving to phase 1/2 in 2024 Broad cross-serovar T cell responses Serovar D Serovar E Serovar F Serovar G Antigen A LNP only Spleen cells secreting Interferon-gamma in mice immunized with mRNA encoding Antigen A, or empty LNP control Serovar equates to serotype terminology in chlamydia field 103 Vaccines Investor Event ELISA titer anti-EB (log10EU) w Antigen B Cross-serovar antibodies recognizing native elementary bodies LNP only Serovar D Serovar E Serovar G ELISA titer anti-EB (log10EU) Antigen C Serovar D Serovar E Serovar G T Antigen D LNP only Elementary body (EB) binding antibodies in sera from mice immunized with mRNA encoding Antigen B, C, D or empty LNP control#104sanofi Acne#105sanofi Acne is chronic inflammatory skin disease and the 8th most common medical condition globally Mild acne 12/12/2001 Moderate acne Severe acne High burden of disease - Chronic nature of condition - Psycho-social impact on patients Contribution to antimicrobial resistance Economic impact of treatment Unmet needs with current treatments Incidence and prevalence significant and increasing - 8.6 million prevalent cases in U.S. 18.3 million prevalent cases in EU Source: IHME/GBD 2019 estimates. Available at https://vizhub.healthdata.org/qbd-compare/ Chen H. et al. Magnitude and temporal trend of acne vulgaris burden in 204 countries and territories from 1990 to 2019: an analysis from the Global Burden of Disease Study 2019 Layton A. M. et al. Reviewing the global burden of acne: how could we improve care to reduce the burden? 105 Vaccines Investor Event#106sanofi Recent market research points to gaps in treatment landscape driving a significant need for novel approaches "Isotretinoin has the efficacy, but it's complicated - and has risks none of the options we have give us everything we need in one treatment" - Dermatologist, Germany "Acne is very hard on patients because it is a disease that everyone can see;...I don't take it lightly because I know it can have psychological and social ramifications" Sanofi internal HCP market research, 1Q23 106 Vaccines Investor Event · Dermatologist, US Reliable efficacy No skin sensitivity Desired Acne Treatment Attributes Suitable for long-term use Easy administration and monitoring No serious side effects Need for improvement vs standard of care on all dimensions#107sanofi Our ambitious approach in the acne immunotherapeutic space > Targeted intervention designed to restore a healthy skin microbiome > Leveraging antigens from Origimm acquisition, enhanced with additional antigen > Critical functional assays developed and running > Synergy between Sanofi Vaccines and Pharma Immunology Franchise > Full speed development of mRNA-based candidate Recombinant protein antigens obtained through Origimm acquisition validated with strong proof of mechanism data OPK titers 106 105 104 103 107 Vaccines Investor Event 10² Antigen 1 Antigen 2 Negative control OPK: opsonophagocytic killing of C. acnes bacteria#108sanofi Therapeutic vaccine addressing multiple pathogenic mechanisms Acne vulgarum: skin dysbiosis driven by outgrowth of pathogenic Cutibacterium acnes Corneocyte Sebum C.acnes C. acnes - Bacterial Virulence Factors Origimm Antigens Expressed on surface of pathogenic C. acnes strains - Induce opsonophagocytic killing antibodies to reduce bacterial burden Essential adhesin and iron uptake functionality Additional Vaccine Antigen - Based on key bacterial virulence factor Keratinocytes Immune Cells Sebocytes - Induces antibodies that neutralize the virulence factor, interrupting the inflammatory cascade that drives disease Inflammatory cascade Pharmaceutics 2019, 11(10), 490; https://doi.org/10.3390/pharmaceutics11100490 Targeted Topical Delivery of Retinoids in the Management of Acne Vulgaris: Current Formulations and Novel Delivery Systems by Gemma Latter 108 Vaccines Investor Event#109OPK titers Positive pre-clinical data support move to phase 1/2 in 2023 sanofi mRNA expression of bacterial antigens induces functional immune responses at least equivalent to recombinant proteins No interference in induced responses with combination of all three mRNAs Antigen 1 Antigen 2 107 107 106 105 104 103 OPK titers 106 105 104 Seroneutralization titers 103 1 rProt mRNA Negative rProt mRNA Negative control control OPK: opsonophagocytic killing 109 Vaccines Investor Event Antigen 3 100 107 10 rProt mRNA Negative control Neutralization of inflammatory factor OPK titers 106 105 104 Seroneutralization titers 100 10 10 103 1 1 2 mRNA mRNA mRNA Negative Antigen Antigen Antigens control 1+2+3 mRNA mRNA Negative Antigen Antigens control 3 OPK: opsonophagocytic killing 1+2+3 Neutralization of inflammatory factor#110sanofi Moving at pace to unlock new areas in infectious disease Expanding to new disease areas 110 Vaccines Investor Event Addressing unmet needs MIX يرلا Leveraging the right technological solutions Therapeutic or prophylactic Association of infectious agents with chronic diseases Microbiome#111sanofi Conclusion Thomas Triomphe Head of Vaccines GBU#112sanofi Sanofi drives innovation with BiC/FIC vaccines pipeline. New products approved since Vaccines Investor Event in December 2021 3 mRNA 6 Leading-edge mRNA platform to lift our influenza standard of care and deliver innovation to address unmet needs At least 5 New vaccine candidates expected in phase 1/2 trial in 2022/23 First-in-Class / Best-in-Class vaccine candidates expected in phase 3 by 2025 across diverse preventative and therapeutic areas 112 Vaccines Investor Event#113On a clear path to generate >€10bn sales by 2030 > Launch Beyfortus blockbuster and build BiC RSV franchise Continue to win in Influenza > Enter Pneumococcal market with PCV blockbuster candidate > Sustain growth of established business > Introduce our new mRNA vaccines to market Sanofi Vaccines sales >€10bn by 2030¹ 1. At 2023 rate 113 Vaccines Investor Event sanofi#114Q&A session Part 2 Thomas Triomphe Head of Vaccines GBU Thomas Grenier Head of Vaccines F&PS Jean-François Toussaint Head of Vaccines R&D Saranya Sridhar Head of Translational Medicine Frank DeRosa Head of Research for mRNA COE Dr William Geisler, MD, MPH Professor of Medicine & Epidemiology University of Alabama at Birmingham Sally Mossman Head of Vaccine Research Portfolio Strategy#115sanofi Appendices#116Collaborations Name BeyfortusⓇ DupixentⓇ itepekimab (IL-33) frexalimab VidPrevtynⓇ Beta SPO202 Developed in collaboration with... AstraZeneca Regeneron ImmuNext GSK and with funding from Biomedical Advanced Research and Development Authority (BARDA) SK Bioscience 116 Vaccines Investor Event sanofi#117Abbreviations sanofi ACIP AE Advisory Committee on Immunization Practices HLA Human Lymphocyte Antigen NVT Adverse Event hMPV Human Metapneumovirus OA AI Artificial Intelligence HPV Human Papillomavirus OPK Non-vaccine type Older Adults Opsonophagocytic killing. BTK Bruton's Tyrosine Kinase HSBA Human Serum Bactericidal Activity P&I CD Cluster of Differentiation HSV-2 Herpes Simplex virus type 2 PBF Pneumonia and Influenza Protection Beyond Flu CDC Centers for Disease Control and Prevention IFN Interferon PCV Pneumococcal Conjugate Vaccine COPD Chronic Obstructive Pulmonary Disease IgA Immunoglobulin A PEG PEGylated PFS CT Chlamydia Trachomatis IgG Immunoglobulin G Pre-filled Syringe PIV DOMV detoxified Outer Membrane Vesicles IL-13 Interleukin 13 EB Elementary Body QIV IMD Invasive Meningococcal Disease RP-LC ELISA Enzyme-Linked Immunosorbent Assay IPD Invasive Pneumococcal Disease rProt Parainfluenza Virus Quadrivalent Influenza Vaccine Reversed Phase Liquid Chromatography recombinant Protein ESPID European Society for Paediatric Infectious Diseases LNP Lipid Nanoparticle RSV Respiratory Syncytial virus FDA Food and Drug Administration LRTD Lower Respiratory Tract Disease SD Standard Dose fHBP factor-H Binding Protein LRTI Lower Respiratory Tract Infection SoC Standard of Care GMC Geometric Mean Concentration MA-LRTI Medically Attended LRTI STI Sexually Transmitted Infection GMP Good Manufacturing Practice ML Machine Learning TEAE Treatment Emergent Adverse Event GMT Geometric Mean Titers mNT micro Neutralization Test TNFI Tumor Necrosis Factor Inhibitor GP General Practitioner or Glycoprotein MoA Mode of Action TSLP HA Hemagglutinin mRNA messenger RNA TT Thymic stromal Lymphopoietin Tetanus Toxoid HBV Hepatitis B Virus MS Multiple Sclerosis URTD Upper Respiratory Tract Disease HCP Healthcare Professionals NA Neuraminidase UTR Untranslated Region HD High Dose NadA Neisserial adhesin A VFC Vaccines for Children HIV Human Immunodeficiency Virus NT Non-typable WHO World Health Organization 117 Vaccines Investor Event#118sanofi