Slide 1: Transforming to deliver Business update Financial performance
Transforming to deliver Business update Financial performance Outlook Appendices
Slide 2: Q4 and Full Year 2021 Results
Transforming to deliver Business update Financial performance Outlook Appendices Q4 and Full Year 2021 Results Play to Win February 4th, 2022
Slide 3: Forward-looking statements
Transforming to deliver Business update Financial performance Outlook Appendices 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 histor
Slide 4: Agenda
Transforming to deliver Business update Financial performance Outlook Appendices Agenda 01 Transforming to deliver Paul Hudson 02 Business update Bill Sibold, Thomas Triomphe, Olivier Charmeil & Julie van Ongevalle 03 Financial performance Jean-Baptiste de Chatillon 04 Outlook 2022 Paul Hudson 4 Inv
Slide 5: Transforming to deliver
Transforming to deliver Business update Financial performance Outlook Appendices Transforming to deliver 2021
Slide 6: Strategy execution delivered strong growth
Transforming to deliver Business update Financial performance Outlook Appendices Strategy execution delivered strong growth FY 2021 Specialty Care Vaccines GenMed Company sales growth €12.7bn €6.3bn €14.2bn €37.7bn +19.7% +6.8% -1.4% +7.1% Core assets 2019 2020 2021 €5.8bn Business EPS growth Consum
Slide 7: Transforming Sanofi to be focused and agile
Transforming to deliver Business update Financial performance Outlook Appendices Transforming Sanofi to be focused and agile Corporate transactions in 2021 Jan 2021 Jan 2021 Mar 2021 Mar 2021 Apr 2021 Jun 2021 Kymab BIOND Divestiture of anti- Collaboration with Tidal Portfolio divestiture of acquisi
Slide 8: Pipeline 2021 highlights
Transforming to deliver Business update Financial performance Outlook Appendices Pipeline 7 positive 8 major 2021 highlights pivotal approvals 10 new molecules read-outs in US/EU for entering the clinical Nirsevimab one year Dupixent, Libtayo, pipeline from in-house earlier than planned Sarclisa, Ne
Slide 9: Early pipeline strengthened with 36 projects added in phase I and II
Transforming to deliver Business update Financial performance Outlook Appendices Early pipeline strengthened with 36 projects added in phase I and II Phase I Phase II SAR441566 SAR44488 amlitelimab SAR444245 – Skin cancers Oral TNF inhibitor Anti-ILT2 mAb Anti-OX40L mAb Non-alpha IL-2 + cemiplimab S
Slide 10: Q4 2021 performance
Transforming to deliver Business update Financial performance Outlook Appendices Q4 2021 performance Specialty Care Vaccines GenMed Specialty Care #1 €3.5bn €2.0bn €3.4bn For the first time largest +21.3% -6.5% -3.8% business unit by sales Core assets 87 pipeline projects €1.4bn 61 in oncology, immu
Slide 11: Business update Q4 2021
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Business update Q4 2021
Slide 12: Specialty Care €3.5bn Q4 sales
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Specialty Care €3.5bn Q4 sales +21.3% Q4 2021 Dupixent® Oncology Dupixent® +53% in Q4 due to significant growth across €240m €1,549m all regions driven by demand +10.3%
Slide 13: Dupixent
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Dupixent ® €1.7bn of sales added in one year Global Dupixent® sales (€m) Outstanding performance in 2021 #1 biologic with Now annualizing Ex-US US €5.2bn dermatologists
Slide 14: Dupixent - Positive Phase 3 results in Prurigo Nodularis
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Dupixent - Positive Phase 3 results in Prurigo Nodularis ® PRIME and PRIME 21 trials data confirm significant improvements for patients with PN ≥4-point reduction in Wo
Slide 15: Planned upcoming launches
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Planned upcoming launches Sutimlimab Olipudase alfa CAD ASMD Rare, chronic autoimmune hemolytic anemia that causes Rare, progressive and potentially life-threatening th
Slide 16: Transforming to deliver Business update Financial performance
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare
Slide 17: Vaccines Q4 performance €2bn Q4 sales
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Vaccines Q4 performance €2bn Q4 sales -6.5% Early flu shipments during NH season leading to Travel & Endemic Polio | Pertussis | Hib sales weighted towards Q3 vs. Q4 (5
Slide 18: Flu sales reaching record levels in 2021
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Flu sales reaching record levels in 2021 U.S. Influenza sales evolution 2018-2021 € millions -13.6% 2,628 Europe +6% +64.4% 2,472 28% 52% 1,891 1,262 1,708 1,260 +0% 93
Slide 19: GenMed Q4 performance €3.4bn Q4 sales
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare GenMed Q4 performance €3.4bn Q4 sales -3.8% Core Core assets assets Growth driven by Plavix, Multaq and Praluent +2.1% (excluding US) Rezurock™: consolidated Q4 sales o
Slide 20: GenMed: 2021 core asset performance
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare GenMed: 2021 core asset performance € millions +12.0% +6.4% +2.4% 1,486 1,351 +15.7% 933 969 913 929 +8.3% 530 603 +38.6%1 +24.2% 312 329 153 213 161 195 Lovenox Toujeo
Slide 21: Rezurock U.S. launch performance
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare Rezurock™ U.S. launch performance US cGVHD prevalence 96% ≈14,0001 patients of top 80 transplant centers have ordered/prescribed Rezurock™ ≈5,0002 to 7,000 >500 patient
Slide 22: CHC Now at par with market
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare CHC Now at par with market Cut & embrace complexity Portfolio simplification - 111 non-core brands divested/pruned +5.4% +5.5% - Trademarks reduced by 50%, domain names
Slide 23: CHC Q4 performance €1.1bn Q4 sales
Transforming to deliver Business update Financial performance Outlook Appendices Specialty Care Vaccines GenMed Consumer Healthcare CHC Q4 performance €1.1bn Q4 sales +5.6% Digestive Wellness Pain Care +5.5% +7.1% Q4 Organic Growth +7.0% 25% 25% 3 drivers - Execution of our strategic priorities - Pa
Slide 24: Financial performance
Transforming to deliver Business update Financial performance Outlook Appendices Financial performance 2021
Slide 25: Transforming into a more agile organization
Transforming to deliver Business update Financial performance Outlook Appendices Transforming into a more agile organization Gross margin OPEX Headcount 71.3% -1.0pt 96k +1.2%pt to sales to sales -5% vs. 2020 +3.9% 25 Investor Relations
Slide 26: Q4 P&L
Transforming to deliver Business update Financial performance Outlook Appendices Q4 P&L €m Q4 2021 Q4 2020 % Change (CER) Net Sales 9,994 9,382 +4.1% Other revenues 421 354 +15.5% Gross profit 6,944 6,297 +7.5% Gross margin % 69.5% 67.1% R&D (1,585) (1,516) +2.8% SG&A (2,758) (2,602) +3.9% Operating
Slide 27: Reinvesting €2bn in growth
Transforming to deliver Business update Financial performance Outlook Appendices Reinvesting €2bn in growth -€0.1bn 0.2 -0.7 1.1 30.8 -0.5 30.7 -0.5 0.7 -0.4 Cumulative R&D R&D efficiencies R&D priority S&M S&M S&M G&A Cumulative OPEX 2019 prioritization assets & Specialty Care Vaccines GenMed OPEX
Slide 28: Free cash flow
Transforming to deliver Business update Financial performance Outlook Appendices Free cash flow Doubling since 2018 Free cash flow growth drivers € millions 533 Change in 400 -109 Business -150 working performance capital 737 1,302 -1,201 8,096 -398 €1.2bn €0.4bn increase impact 6,982 in asset from
Slide 29: Proposed dividend of €3.33
Transforming to deliver Business update Financial performance Outlook Appendices Proposed dividend of €3.33 1993 2021 Subject to AGM’s approval on May 3rd , 2022. 29 Investor Relations
Slide 30: 2022 business outlook
Transforming to deliver Business update Financial performance Outlook Appendices 2022 business outlook Sales Specialty Care Vaccines Growth driven by Dupixent®, Record flu season P&L N&I slightly down, all other franchises growing Further gross margin improvement due to product mix and efficiencies
Slide 31: 2022 FY guidance
Transforming to deliver Business update Financial performance Outlook Appendices 2022 FY guidance BOI margin EPS growth 30% Low double-digit growth at CER Approximately +2% to 3% currency impact1 Barring unforseen events. 1. Based on January 2022 average rates. 31 Investor Relations
Slide 32: Outlook
Transforming to deliver Business update Financial performance Outlook Appendices Outlook 2022
Slide 33: Major R&D milestones in 2022
Transforming to deliver Business update Financial performance Outlook Appendices Major R&D milestones in 2022 H1 2022 H2 2022 Dupixent® EoE U.S./EU regulatory submissions PN U.S./EU regulatory submissions CSU Pivotal trial read-out (Study B) CINDU Pivotal trial read-out Oncology amcenestrant 2/3L mB
Slide 34: Sanofi ESG accomplishments in FY 2021
Transforming to deliver Business update Financial performance Outlook Appendices Sanofi ESG accomplishments in FY 2021 Affordable R&D for Efficiency & People access unmet needs Sustainability Global Health Unit Eradicate Polio Blister-free vaccines Diverse 50.5 million IPV doses 29% of vaccines Seni
Slide 35: ESG roadmap for the next 12 months
Transforming to deliver Business update Financial performance Outlook Appendices ESG roadmap for the next 12 months Affordable Q4 Access and R&D Q1 Efficiency & Q2 People Q3 access for unmet needs Sustainability Sanofi Global Health and Medtronic Labs to collaborate - Multi-country, multi-year partn
Slide 36: Planned events
Transforming to deliver Business update Financial performance Outlook Appendices Planned events ACTRIMS call Immunology update ESG event February 25 March 29 June / July 36 Investor Relations
Slide 37: Q&A session
Transforming to deliver Business update Financial performance Outlook Appendices Q&A session Paul Hudson Jean-Baptiste de Chatillon John Reed Roy Papatheodorou CEO CFO R&D General Counsel Olivier Charmeil Julie van Ongevalle Bill Sibold Thomas Triomphe General Medicines Consumer Healthcare Specialty
Slide 38: R&D appendices
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D appendices
Slide 39: R&D Pipeline Phase III & Registration
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D Pipeline Phase III & Registration Phase III Registration Name Description Indication Name Description Indication Dupixent®A Anti-IL-4/I
Slide 40: R&D Pipeline – Phase II
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D Pipeline – Phase II Phase II Name Description Indication Name Description Indication Dupixent®A Anti-IL-4/IL-13 mAb Peanut allergy SAR4
Slide 41: R&D Pipeline – Phase I
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D Pipeline – Phase I Phase I Name Description Indication SAR441566 Oral TNF inhibitor Inflammatory indications SAR444656I,1 IRAK4 degrade
Slide 42: Expected submission timelines
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Expected submission timelines 2022 2023 2024 2025 and beyond tusamitamab Kevzara®A Dupixent®A amcenestrant Dupixent®A Dupixent ®A tolebruti
Slide 43: COVID-19 recombinant vaccine program
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations COVID-19 recombinant vaccine program 1 Phase 3 Safety & Efficacy Trial – primary vaccine (event-driven) Monovalent Final Stage 1: 10µg pare
Slide 44: Financial appendices
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Financial appendices
Slide 45: Full Year P&L
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Full Year P&L €m FY 2021 FY 2020 % Change (CER) Net Sales 37,761 36,041 +7.1% Other revenues 1,414 1,328 +10.1% Gross profit 26,924 25,263
Slide 46: Q4 sales and EPS
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Q4 sales and EPS Currency impact Company sales Business EPS +0.04 €225m -0.15 -0.12 -0.15 -0.11 0 0 -480 -0.12 -0.15 -0.11 -628 -595 2020 2
Slide 47: Net debt evolution in FY 2021
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Net debt evolution in FY 20211 €9 983 € 8,790 -€ 17 € 4,008 € 1,060 -€ 9 977 € 6 786 -€ 667 Net Debt FCF before Proceeds Asset Restructurin
Slide 48: 2022 currency sensitivity and Q4 2021 currency exposure
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations 2022 currency sensitivity and Q4 2021 currency exposure 2022 Business EPS currency sensitivity Currency exposure on Q4 2021 sales Currency
Slide 49: Main product sales
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Main product sales 2021 sales (€m) Growth Dupixent 5,249 52.7% Influenza Vaccines 2,628 5.9% Lantus 2,494 -3.8% Aubagio 1,955 -1.8% Lovenox
Slide 50: Sanofi accounting of Antibody License and Collaboration Agreement with Regeneron
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi accounting of Antibody License and Collaboration Agreement with Regeneron 1 Last updated September 2021 U.S. Ex-U.S. Net sales Sanof
Slide 51: Sanofi Libtayo accounting pursuant to Regeneron collaboration
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi Libtayo® accounting pursuant to immuno-oncology License and Collaboration Agreement with Regeneron 1,2 Last updated September 2021 U
Slide 52: ESG appendices
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations ESG appendices
Slide 53: Sanofi ESG ratings improving
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi ESG ratings improving Rating agencies SCORE 62 22.9 86 A Climate Change: A Rated B 4.2 3.47 92% 70 out of 100 Medium risk out of 100
Slide 54: Collaborations
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Collaborations Ref Name Developed in collaboration with… A Dupixent® Regeneron itepekimab Libtayo® Kevzara® B efanesoctocog alfa Sobi C nir
Slide 55: Abbreviations
Transforming to deliver Business update Financial performance Outlook Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Abbreviations AD Atopic Dermatitis HER2 Human Epidermal growth factor Receptor 2 PPMS Primary Progressive Multiple Sclerosis ALL Acute Lymp