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Discover who we areCreating aCommunityWe have more than 95,000 employees with over 140 nationalities. That’s why wework constantly to ensure our workplace is inclusive, where everyone can be theirbest and authentic selves, comfortable to speak up and brave enough to speak out.Building such an environment also directly influences how we engage with patientsand customers, as well as the communities where we live and work.Our new All In strategyWe co-created our new global diversity and inclusion strategy, All In, with insights frompeople across the business and around the world. None of it was built in isolation. Thestrategy weaves inclusion into our Play to Win business strategy and aims to develop anenvironment that shapes and drives our approach to each other and our communities.This includes:building a leadership team representative of societycreating a diverse and inclusive work environmentcreating a ripple effect of our behaviors in the communities where we work, includingunderstanding patient needs in clinical trials; insisting on supplier diversity; andinvolving local leadership teams in community projects“Our diversity and inclusion strategy isabout impact. Impact on our workforce,our workplace, and our marketplace tomake the most of our collective differences,all together.”Raj VermaChief Diversity and Experience OfficerGuillaume Wetzel, Global Head of Change Communications,and trainee Benjamin Regnier, France15

Discover who we areBuildingrepresentativeleadership Gender balanceambitions to reflect the diversity of the communities we live and work in, and to fullyunderstand our patient and customer needs.Achieve gender balance insenior leaders by 2025To achieve this, we are:40.1%ensuring our under-represented employees have an equal chance tosucceed by focusing on access to opportunities and addressing theirspecific needswomen in 202138.8% in 2020working to achieve gender balance in all leadership positions- At least 50% of people in every succession plan will be women, whoare either ready now or will be ready within two years- By 2025, 50% of our senior leaders and 40% of our executives willbe womenWe are also working to ensure that other strands of diversity-age,race, ethnicity, faith, disability, and the LGBTQIA community-are wellrepresented across Sanofi.Wherever possible, we have put in place targets within countries:Achieve 40% women in ourexecutive population by 2025in the US, people of color to represent 37% of employees by 2025in the UK, people from a minority and/or ethnic background torepresent 25% of final-stage interviewees for a senior postin France and other countries: targets set to increase representation ofpeople with a disability34.2%women in 202131.3% in 202016

Discover who we areCreating a diverseand inclusive workenvironmentOur new parental leave policyis for every new parent,everywhereDiversity means nothing unless it goes hand in handwith inclusive behavior and a culture that allows ouremployees to thrive. We’re tackling this in three ways:embracing different ways of working by offeringflexibility and full access to wellness programs for allour employeesnurturing a culture where everyone feels they belong.The first step is to ensure managers have the tools tobuild and sustain an inclusive culture while providingemployees with the support they need to guaranteetheir voices are heardevolving our workplace to meet our employees’visible and invisible needsEduardo Terciotti, Strategic Planning Managerin Brazil, with son, Miguel, and wife Paula Reis,Quality Systems SpecialistFrom January 1, 2022, every Sanofi employee will geta minimum of 14 weeks paid parental leave no matterwhich country they’re working in. This includes birth,adoptive and surrogate parents. We believe thatparental leave should be equal for all parents and notjust new mothers. Since pioneering this policy in LatinAmerica in 2020, we have seen firsthand the concreteand positive impact it can have for employeesbecoming parents. It will give our employees thefreedom to determine the childcare arrangementsthat work best for them as a family and provide qualitytime to better bond together.Supporting employees affected by cancerIn France, Cancer & Travail-Agir ensemble (Cancer &Work-Let’s Act Together) supports and improves thelives of employees directly and indirectly affected bycancer, and their teams, in all sites across France. It’sdelivered through a network of 30 support centerswhere people can talk freely about cancer-relatedissues with professionals from occupational health,social care and human resources. The network has over150 volunteers, who have helped over 250 employees.Watch the videoHélène Bonnet, CSR Project Manager and founder of Cancer& Work-Let’s Act Together17

Discover who we areEngaging with our localcommunitiesTo build positive social impact that strengthens economicengagement with the communities we live and work in,our procurement team has created a Solidarity Sourcingprogram to ensure the suppliers we work with reflect ourvalues.This complements our existing Global Supplier Diversityprogram that increases the inclusion of historicallydisadvantaged or under-represented groups in oursourcing processes, and our partnership with WeConnectInternational to build stronger collaboration with womenowned businesses.In July, we announced that Sanofi would become aPremium Partner of Paris 2024 for the Olympic andParalympic Games. This is a unique opportunity tomobilize our 100,000 employees and our sites in Parisand throughout France in one of the largest sportingevents in the world.OLYMPIC AND PARALYMPICPARTNERIt highlights our societal impact strategy and supportsour actions on inclusivity, diversity, as well as ourenvironmental ambition. We have already seen howsport is a vector of hope and perseverance through ourwork with the Sport dans la Ville association, whereour teams work to integrate young people socially andprofessionally into their communities, society, and theworkplace.“Sanofi is proud tocontribute to the successof the Olympic andParalympic Games Paris2024. It represents a greatopportunity to unite ouremployees around valuesshared with the Olympicsand Paralympics, such asinclusion and diversity,openness to the world,courage, determinationand excellence.”Paul HudsonChief Executive Officer18

Chasing the Miracles of ScienceChasing the Miraclesof ScienceStrands of DNA19

Chasing the Miracles of ScienceBeyondExtraordinaryWe chase the miracles of science to improve people’s lives. To do that, we take smart risks, learn from ourmistakes, and master new techniques to overcome barriers and accelerate progress. We never settle. Ourdeep expertise in disease pathways helps us select the most promising tool for each target, while our uniquetechnology platforms empower us to develop drugs, biologics, and genomic medicines with the greatestpotential to change lives for the better.Industry trendsImmunoscienceDisruptive advances in immunology have made it possibleto address severe inflammatory conditions withoutsuppressing the body’s normal protective immuneresponse. A deeper understanding of inflammatorypathways has revealed an array of targets, vastlyincreasing the potential for new drugs to keep severeinflammatory reactions in check.OncologyFor some cancers, the focus has shifted to therapeuticswith more precisely directed firepower. This is enabledby synthetic biology, which is making previouslyundruggable targets druggable such as antibodydrug conjugates, and multi-target immunotherapies.Cell-based therapies have changed expectations fortreatment outcomes, but challenges persist in providingthese highly individualized treatments on a large scale.Decentralized clinical trialsThe COVID-19 pandemic changed the way patientsexpect to participate in healthcare. The enduring shift totelemedicine heralds progress for decentralized clinicaltrials, which aim to boost participation by people fromunder-represented communities.AI and smart devicesInnovations in wearable and internet-enabled medicaldevices, combined with advances in artificial intelligence(AI) methods, support continuous-monitoring studiesthat give real world insights into patient experiences. Thispresents opportunities to surface digital biomarkers*that can act as an early warning system for diseaseprogression and reveal potential new drug targets.Natural killer cells*Digital biomarker/ ‘baɪ oʊˌmɑr kər / n.An objective, quantifiable measure that canindicate disease progression, or response toexposure to, for example a virus, medicine,allergen. Can be assessed in real-life settings usingwearables, smartphones, or connected devices.20

Chasing the Miracles of ScienceResearch-enablingtechnologies“Our approach to thediscovery and developmentof medicines starts witha deep understanding ofdisease pathways informedby patient insights, andleverages an expandingrepertoire of unique,game-changing researchplatforms.”John ReedExecutive Vice President and GlobalHead of Research & DevelopmentThe demonstrated success of mRNA-based vaccines,together with new clinical applications of mRNA in drugand cell therapy design, mark a turning point for genomicmedicines. Single-cell genomics is redrawing the map ofhuman biology, while cryo-electron microscopy is givingscience a fresh pair of eyes, and sophisticated algorithmsto predict protein structures are spotlighting potentialnew drug targets.SimplificationThe COVID-19 pandemic has pushed the pharma andregulatory sectors to work together more efficientlyand reduce clinical cycle times. Cloud-based platformsfacilitate data sharing with health authorities, reducingregulatory review time frames. Open science is motivatingindustry to streamline their data culture, enabling largescale collaboration and accelerating target discovery.Imaging and data scienceCombining data and information from multiple sourcescan give scientists essential insights into the likelihoodof success in the clinic. AI and other machine-learningtechniques help power the engine behind studiesthat can clarify disease drivers, help match patients totreatments, and reveal opportunities for new treatmentoptions such as combination therapies.21

Chasing the Miracles of ScienceR&D Strategy,Our Long-Term VisionFrom scalable gene therapies and mRNA to flexible, multi-target biologics, our teams have what it takes to battlecomplex diseases on many fronts. And thanks to the many people who volunteer to participate in research–over87,000 in 2021–our scientists continue to make advances toward new vaccines and medicines with the potential tomake life better for patients, families, and communities.Our future strategy in immunologyOur long-term commitment to advancing immunologyis unique, built on a strong foundation of scientific andpatient understanding that crosses the full value chain,from early research through delivery to patients. In 2021we continued to explore the potential of our marketleading therapeutic to treat more type-2 inflammatorydiseases, and gained approval for its use in youngerpatients with asthma.Looking to the future, we’re cultivating our expertiseand investigating several new molecules that targetthis pathway, shoring up our robust pipeline. Thisincludes our acquisition of Kymab and its expertisein human monoclonal antibodies. And we started anew collaboration with Stanford University scientiststo advance knowledge about autoimmune andinflammatory conditions.1 By constantly innovating, we’reaccelerating our ambitious immunoscience programsand building a rich pipeline of potential first- and bestin-class medicines.Insights: Emerging leadership in Immunoscience1 Sanofi announcement (2021) Sanofi establishes three-year collaborationwith Stanford Medicine to accelerate immunology research. Posted 6 May.Behind the science: Sanofi scientist Raolat Abdulai (left)and Emerald Innovations CEO Dina Katabi (right) explainhow artificial intelligence and wireless technology canmake it easier to participate in clinical trials from home“For us, innovation is aboutmore than improving asingle product. It’s aboutgaining new insights intothe biology of diseases sothat patients’ unmet needsare resolved. It’s aboutreducing waste and the costof goods, which is good forthe environment and forthe company. And it’s aboutfinding new ways to solveproblems so we can generatevalue for people, families,and society.”Bill SiboldExecutive Vice President, Specialty CareWatch the video22

Chasing the Miracles of ScienceDisruptive technologies to turnthe impossible into possibleOur immuno-oncology and molecular oncology teamsare focused on cancers that are notoriously difficultto treat, such as those that attack the breast, lung andblood. To do that, we’re pursuing a new generation ofcancer therapies built on disruptive technologies.“Our ambition is to pursueoutstanding science sowe can raise the bar fortreating breast, lung,and blood cancers. Newapproaches in chemistry,cell biology, syntheticbiology, and antibodydesign are empowering ourresearch teams to identifythe next wave of therapeuticcandidates with greaterprecision than ever before.And continuing to work withpatient communities keepsus focused on what mattersmost to people living withthese diseases.”Valeria FantinHead of Oncology ResearchOur oncology R&D engine is powered by novel smallmolecule protein degraders; mRNA-reprogrammedT cells; genetically modified, donated natural killer cells;reduced-toxicity IL-2 treatments based on syntheticbiology; powerful drugs attached to tumor-findingantibodies; and multi-targeting NANOBODY molecules.The result: a vibrant pipeline of investigational therapiesthat aim to reduce the toxic effects of cancer treatment.Digital innovation is the lynchpin in any R&D program.In 2021 we launched a strategic partnership with AIcompany Owkin to optimize clinical trial designs, predicttreatment responses, and detect early-warning signs ofseveral cancers, while maintaining patient privacy.Behind the science: Scientist Nizar El-Murr explains howhis team is trying to jump-start the body’s defensesagainst cancerWatch the videoTaming theautoimmuneresponse in rareblood disordersWe continued to pursue our goal of blocking autoimmuneresponses that drive many rare blood disorders. In 2021we saw how smart monoclonal antibody design couldhelp us combat diseases like cold agglutinin disease andwarm autoimmune hemolytic anemia, while TAILOREDCOVALENCY(TM) chemistry drove progress in our fight.Opening a newchapter in vaccinesThanks to our unique legacy in vaccines and expanding suiteof technologies, we’re well placed to bring ten new vaccinecandidates into the clinic by 2025, six of which will usemRNA technologies through our new Center of Excellence.We’re intensifying our work in influenza, meningitis, andrespiratory syncytial virus (RSV), and progressing in newareas including pneumococcal disease, chlamydia, andacne. We’ve also laid the groundwork for a new, flexibletype of manufacturing facility that will transform the waywe produce vaccines and medicines, enabling us to be evenmore responsive to public health needs.23

Chasing the Miracles of SciencePatient centricityWe never lose sight of the patient experience and haveworked closely with patient communities for decadesto make sure we have the right priorities. In breastcancer, our determination to help people with metastaticdisease led us to explore an oral investigational medicine.And in 2021 we partnered with academic cooperativegroups to investigate how we could prevent or delaydisease progression in patients with early-stage breastcancer. In hemophilia, we advanced our mission toreduce the burden of treatment on families, pursuingtwo investigational medicines designed to address theirspecific need: sustained protection against bleeds. Oneof these was granted fast-track designation for thetreatment of hemophilia A.Jane Smith, Head of Rare Blood Disorders Public Affairsand Patient AdvocacyMetastatic breast cancer(MBC)New science,new answersIn 2021 we launched MBC Unfiltered, wherepeople living with metastatic disease, likeShonte (pictured), share the realities of lifewith MBC.Our understanding of type 2 inflammationhas changed. Now we know how it can explaincertain symptoms and experiences, and how itcan uncover new connections.Find out moreFind out moreHemophilia heroesInspired by personal stories, Sanofi scientistsand patient advocates share how they areworking to change the lives of those livingwith hemophilia.Find out more24

Chasing the Miracles of ScienceR&D facts and figures1 5.7bninvested in R&D, representing 15.1% of company sales598clinical studies underway: 87,175 patientsparticipating on 1,500 partner sitesin 29 countries91 projects in clinical development234 of these projects in phase 3 or submitted to regulatory authorities for approval112731778VaccinesNeurologyImmunology andinflammationRare blood disordersOncologyRare diseases1 All figures as of December 2021, unless otherwise indicated.2 Clinical development figures include pharmaceutical, medical, and vaccine studies. Study participants are considered “active”from first treatment to last visit. “Treated” refers to a person having a first treatment in 2021.25

Chasing the Miracles of Science2021 key R&D pipeline highlightsDisclaimer: This section is intended for investors and media7 positive pivotalread-outsNirsevimab one year earlier thanplanned8 major approvalsin US/EU for Dupixent ️, Libtayo ️,Sarclisa ️, Nexviazyme 10 new moleculesImmunologyentered the clinical pipeline fromin-house researchAmlitelimab (OX40L)Rilzabrutinib broad phase 2 programOncologyNeurologyAMEERA-5 fully recruited5 basket studies ongoing for SAR’245Tolebrutinib entered phase 3 in MGRIPK1i FTD for ALS26

Chasing the Miracles of Science“We continue to berelentless in expandingour innovative pipeline.In the final quarter of 2021,we moved seven moleculesinto phase 1 and sevenpipeline programs intophase 2 trials, showcasingour success in rapidlya

We chase the miracles of science to improve people's lives and to transform the practice of medicine Discover who we are Where We Work Our Culture is Key to Driving Our Strategy Creating a Community 7 13 15 Improving People's Lives Our Contribution to Society Ensuring Affordable Access to Healthcare Our Value Creation Sanofi's Contribution to the UN Sustainable Development Goals