Slide 1: Growth drivers R&D update Business update
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices
Slide 2: Q2 2023 Results - Play to Win
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Q2 2023 Results Play to Win July 28, 2023
Slide 3: Forward-looking statements
Growth drivers R&D update Business update Financial performance Outlook 2023 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
Slide 4: Agenda
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Agenda 01 Growth drivers keep delivering Paul Hudson 02 R&D update Dietmar Berger 03 Business update Bill Sibold, Thomas Triomphe, Olivier Charmeil & Julie Van Ongevalle 04 Financial performance and outlook 2023
Slide 5: Growth drivers keep delivering
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Growth drivers keep delivering
Slide 6: Q2 2023: Sales growth driven by Specialty Care and Vaccines
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Q2 2023: Sales growth driven by Specialty Care and Vaccines Specialty Care Vaccines GenMed • Q2 sales up 3.3% €4.4bn €1.2bn €3.1bn • Double-digit growth of +11.8% +9.1% -7.3% Speciality Care driven by Dupixent mo
Slide 7: Double-digit sales increase of key growth drivers in H1 2023
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Double-digit sales increase of key growth drivers in H1 2023 a proof point of successful portfolio transformation Dupixent €4.9bn +36.7% Specialty Care excl Dupixent & Aubagio €3.2bn +6.8% +15.3% Core assets GenM
Slide 8: Targeted acquisition to accelerate CHC strategy execution
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Targeted acquisition to accelerate CHC strategy execution +8% Execution of strategic priorities since 2021 Organic growth • Portfolio simplification annually • Growing in key categories €5.2bn • E-commerce and di
Slide 9: Significant blockbuster potential with key launches
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Significant blockbuster potential with key launches Potential new standard Protect all infants against First and only therapy in protection with RSV in their first season to delay onset of weekly dosing T1 diabet
Slide 10: Strong momentum for expected future growth drivers
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Strong momentum for expected future growth drivers Pipeline news flow in H1 2023 Filed Dupixent CSU U.S. 300k people with CSU inadequately controlled by antihistamines Readouts Dupixent COPD Phase 3 ~900k biologi
Slide 11: R&D update
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D update
Slide 12: Frexalimab demonstrates significantly reduced disease activity in relapsing MS
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Frexalimab demonstrates significantly reduced disease activity in relapsing Multiple Sclerosis First randomized clinical data for Key Phase 2 findings a CD40L inhibitor in MS Primary endpoint met At Week 24, 96%
Slide 13: Amlitelimab with potentially transformational target profile in Atopic Dermatitis
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Amlitelimab with potentially transformational target profile in Atopic Dermatitis Anti-OX40L that rebalances inflammation Key Phase 2b findings without immunosuppressive cell depletion Statistically significant B
Slide 14: IL-13/TSLP bispecific (SAR443765) shows potential in Type 2 inflammation
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices IL-13/TSLP bispecific (SAR443765) shows potential to break efficacy ceilings in Type 2 inflammation and beyond Results of SAR443765 on FeNO suggest a synergistic Combining anti-TSLP and anti-IL-13 therapies effec
Slide 15: Major R&D milestones in 2023
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Major R&D milestones in 2023 H1 2023 H2 2023 Positive pivotal trial readout COPD (BOREAS) Dupixent CIndU Efficacy criteria not met Sarclisa (1L MM, IMROZ) Pivotal trial readout (IMROZ) Oncology tusamitamab ravtan
Slide 16: Inclusivity at the forefront of our clinical trials
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Inclusivity at the forefront of our clinical trials Sanofi strives to make our clinical trials inclusive by design and partner with historically underrepresented communities to identify and address their unique n
Slide 17: Business update
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Business update Q2 2023
Slide 18: Specialty Care performance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Specialty Care performance €4.4bn sales +11.8% Q2 2023 Dupixent Dupixent Demand-driven growth across €2,562m 5 approved indications +34.2% Rare Diseases • Near d
Slide 19: Dupixent on track to cross the €10bn mark in 2023
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Dupixent on track to cross the €10bn mark in 2023 Global Dupixent sales (€m) Performance highlights in Q2 Ex-U.S. U.S. Worldwide growth Ex-U.S. growth 2,562 Ex-U
Slide 20: Dupixent maintaining #1 NBRx in competitive markets
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Dupixent maintaining #1 NBRx in competitive markets Leading with Leading with Leading with Atopic Dermatitis Dermatologists Allergists Pulmonologists Weekly NBRx
Slide 21: ALTUVIIIO: Positive early launch indicators
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare ALTUVIIIO: Positive early launch indicators driven by Best-In-Disease efficacy profile Emerging as the leading factor Strong execution driving adoption Significa
Slide 22: Vaccines performance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Vaccines performance €1.2bn sales +9.1% Q2 2023 PPH performance driven by Pentaxim China, Influenza Polio Hexaxim new public market introductions €99m Pertussis/
Slide 23: Continue to win in Influenza
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Continue to win in Influenza Efluelda expansion in EU key markets Full switch from TIV to 2023 flu Key drivers of QIV in rest of world sales expected 2023 flu sa
Slide 24: Vaccines pipeline delivers and Beyfortus approved in the U.S.
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Vaccines pipeline delivers and Beyfortus approved in the U.S. SP0202 (PCV21) SP0125 (RSV toddler) Beyfortus licensed in the U.S. First-in-class PCV20+ First-in-c
Slide 25: GenMed performance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare GenMed performance €3.1bn sales -7.3% Q2 2023 Core assets continue to grow Core assets Robust growth of Toujeo (+15.4%) €1,565m and Rezurock (+76.7%) +2.4% Non-c
Slide 26: Tzield: Building the foundation of a new growth driver
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Tzield: Building the foundation of a new growth driver November 2022 FDA approves Tzield First-in-class life changing therapy January 2023 Gradual expansion in s
Slide 27: CHC performance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare CHC performance €1.2bn sales +0.7% Q2 2023 Q2 organic growth +1.9% H1 organic growth +7.5% Digestive Wellness Allergy €389m €170m +15.2% -11.1% 9th consecutive g
Slide 28: Qunol acquisition: CHC to add a leading brand
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Qunol acquisition: CHC to add a leading brand in one of the fastest growing categories in the world’s largest market Strengthen stand-alone Leading brand in grow
Slide 29: Engaging our consumers on our sustainable journey
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Specialty Care Vaccines GenMed Consumer Healthcare Engaging our consumers on our sustainable journey Nearly 70% of U.S. Reinforcing our Sanofi Consumer Healthcare consumers are looking to brand-led impact for Nor
Slide 30: Financial performance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Financial performance Q2 2023
Slide 31: Sales performance in H1 2023
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Sales performance in H1 2023 In € millions 4.4% +865 8.9% +1,693 20,655 262 66 315 -262 19,790 1,312 -180 18,962 -389 -259 A22 @PR Divestment Aubagio Others including A22 excluding Dupixent Launches Vaccines Insu
Slide 32: Q2 Group P&L
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Q2 Group P&L €m Q2 2023 Q2 2022 % Change Net Sales 9,965 10,116 +3.3% Sales growth Other revenues 717 626 +23.2% +3.3% Gross profit 7,419 7,493 +3.7% Gross margin % 74.5%1 74.1%1 Gross margin +0.4ppt improvement
Slide 33: Q2 CHC P&L
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Q2 CHC P&L €m Q2 2023 Q2 2022 % Change Net Sales 1,298 1,289 0.7% Sales growth Other revenues 13 16 -18.8% +0.7% due to Q1 inventory build Gross profit 843 846 -0.4% Gross margin % 65.0%1 65.6%1 SG&A R&D (59) (49
Slide 34: H1 Group P&L
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices H1 Group P&L €m H1 2023 H1 2022 % Change Net Sales 20,187 19,790 +4.4% Sales growth Other revenues 1,358 1,005 +37.7% +4.4% Gross profit 15,203 14,668 +5.9% Gross margin % 75.3% 1 74.1% 1 Gross margin +1.2ppt imp
Slide 35: Outlook 2023
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Outlook 2023
Slide 36: H2 2023 business outlook
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices H2 2023 business outlook • Dupixent strong performance to continue • High rate of Aubagio generic erosion coupled with entry of generics in Europe Sales • Flu sales broadly in line with prior year • GenMed sales
Slide 37: Upgraded FY 2023 guidance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Upgraded FY 2023 guidance Currency EPS growth impact 1 Mid single-digit approximately growth at CER -6.5% to -7.5% Barring unforeseen events. 1. Based on July 2023 average rates. 37 Investor Relations
Slide 38: Q&A session
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices Q&A session
Slide 39: R&D appendices
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D appendices
Slide 40: R&D Pipeline Phase III & Registration
Growth drivers R&D update Business update Financial performance Outlook 2023 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 DupixentA Anti-
Slide 41: R&D Pipeline – Phase II
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D Pipeline – Phase II Phase II Name Description Indication Name Description Indication DupixentA Anti-IL-4/IL-13 mAb Ulcerative Co
Slide 42: R&D Pipeline – Phase I
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations R&D Pipeline – Phase I Phase I Name Description Indication SAR441566 Oral TNF inhibitor Psoriasis SAR444656F,1 IRAK4 degrader Atopic
Slide 43: Expected submission timelines
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Expected submission timelines 2023 2024 2025 and beyond KevzaraA DupixentA tolebrutinib DupixentA frexalimab Polyarticular juvenile
Slide 44: Tzield PROTECT study demonstrates beta cell function preservation
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Tzield (teplizumab) PROTECT study demonstrates beta cell function preservation in newly diagnosed Stage 3 T1D patients Phase 3 desig
Slide 45: Financial appendices
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Financial appendices
Slide 46: GenMed Q2 2023 core assets performance
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations GenMed Q2 2023 core assets performance Core asset sales (in € million) -11.3% +15.4% +29.7% 337 +6.5% 284 291 267 277 247 240 222 -2
Slide 47: H1 CHC P&L
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations H1 CHC P&L €m H1 2023 H1 2022 % Change Net Sales 2,720 2,643 6.1% Sales growth Other revenues 27 30 -10.0% +6.1% Gross profit 1,798
Slide 48: Main product sales
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Main product sales Q2 2023 sales (€m) Growth Dupixent 2,562 34.2% Polio/Pertussis/Hib vaccines 617 12.4% Lantus 353 -36.5% Toujeo 29
Slide 49: 2023 FY business outlook
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sales P&L 2023 FY • Dupixent expected to • Improvement of gross margin due to cross the €10bn mark Specialty Care growth and COVID b
Slide 50: nirsevimab/Beyfortus Initial agreement Sanofi-AstraZeneca
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations nirsevimab/Beyfortus Initial agreement Sanofi-AstraZeneca (March 2017) Major markets (U.S., FR, DE, ES, IT, UK, JP) Rest of world ma
Slide 51: Sanofi accounting of nirsevimab/Beyfortus updated agreements
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi accounting of nirsevimab/Beyfortus Updated and new agreements Sanofi-AstraZeneca and Sanofi-Sobi (April 2023) Updated agreeme
Slide 52: Q2 sales and EPS
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Q2 sales and EPS Currency impact Company sales Business EPS €1,108m +0.31 €661m €475m €341m +0.12 +0.07 +0.09 €16m -0.01 -0.13 €-484
Slide 53: Net debt evolution in 2023
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Net debt evolution in 2023 € millions 11,183 841 2,580 6,437 4,454 -3,652 595 -556 484 Net Debt FCF before Proceeds Asset Restructur
Slide 54: 2023 currency sensitivity and Q2 2023 currency exposure
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations 2023 currency sensitivity and Q2 2023 currency exposure 2023 Business EPS currency sensitivity Currency exposure on Q2 2023 sales Cu
Slide 55: ESG appendices
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations ESG appendices
Slide 56: Sanofi ESG Q2 achievements
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi ESG Q2 achievements Affordable access R&D for unmet needs Sanofi Global Health Unit Rare disease vials donation Polio eradica
Slide 57: Sanofi ESG Q2 achievements
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi ESG Q2 achievements Planet care In and beyond the workplace Blister-free syringe vaccines Scope 1 & 2 Diverse Senior Engageme
Slide 58: Sanofi ESG ratings
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Sanofi ESG ratings Rating agencies SCORE Climate 21.5 86/100 71/100 A Change: A B 4.5/5 3.47/5 65/100 Medium risk Water: A- New rati
Slide 59: Collaborations
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Collaborations Ref Name Developed in collaboration with… A Dupixent Regeneron itepekimab Kevzara B Beyfortus AstraZeneca C eclitaser
Slide 60: Abbreviations
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices R&D appendices Financial appendices ESG appendices Collaborations Abbreviations Abbreviations Ab Antibody HER2 Human Epidermal growth factor Receptor 2 PD-1 Programmed Death protein 1 AD Atopic Dermatitis IA Inte
Slide 61: Growth drivers R&D update Business update
Growth drivers R&D update Business update Financial performance Outlook 2023 Appendices