Q2 2013 RESULTS August 1, 2013

2

Forward Looking Statements

This presentation 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. Although Sanofi's

management believes that the expectations reflected in such forward-looking statements are reasonable, investors are

cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which

are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to

differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

These risks and uncertainties include among other things, the uncertainties inherent in research and development,

future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the

EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such

product candidates as well as their decisions regarding labeling and other matters that could affect the availability or

commercial potential of such product candidates, the absence of guarantee that the product candidates if approved will

be commercially successful, the future approval and commercial success of therapeutic alternatives, the Group's ability

to benefit from external growth opportunities, trends in exchange rates and prevailing interest rates, the impact of cost

containment policies and subsequent changes thereto, the average number of shares outstanding, as well as those

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, 2012. Other than as required by applicable law, Sanofi does not undertake any

obligation to update or revise any forward-looking information or statements.

3 3

Agenda

Business Performance

● Christopher A. Viehbacher, Chief Executive Officer

● Peter Guenter, Executive Vice President, Global Commercial Operations

● Pascale Witz, Executive Vice President, Global Divisions & Strategic Commercial Development

● Olivier Charmeil, Executive Vice President, Vaccines

Financial Performance

● Jérôme Contamine, Executive Vice President, Chief Financial Officer

Conclusion

● Christopher A. Viehbacher, Chief Executive Officer

Q&A

BUSINESS PERFORMANCE

4

Q2 2013 Was a Difficult Quarter

Tough comparison to last year due to the residual impact

of the patent cliff

Charge related to Brazil

Commercial underperformance in certain business areas

Continue to expect to return to growth in H2 2013(1)

Strong progress made in R&D

1

2

3

5

4

5

(1) At constant exchange rates

Q2 2013 FX Impact

- €223m

Key

Genericized Products

- €305m

Growth

Platforms

+ €354m

Brazil

generics

- €212m

Others

- €481m

Q2 2012

€8,870m

Q2 2013 Sales Were Adversely Affected by Patent Losses, Brazil and Currency

6

(1) “Others” includes - €97m from EU tail products (Other Rx Drugs), - €58m on three genericized brands in Japan (Allegra®, Myslee® and Amaryl®)

(2) Reported sales of Brazil generics w ere €75m in Q2 2012 and -€123m in Q2 2013 (of w hich -€122m w as an adjustment)

(3) Currency impact on sales in Q2 2013: Japanese Yen (-€145.6m); US Dollar (-€51.7m); Venezuelan Bolivar (-€35.6m); South African Rand (-€13.4m)

(4) On a reported basis, sales in Q2 2013 w ere down -9.8%

Q2 2013 Sales (€m)

(2)

€8,003m

excluding

Brazil generics

-6.3%

at CER(4)

(1)

(3)

Q2 2013 Was the Final Quarter with Significant Negative Sales Impact Expected from the Patent Cliff

2013 2012 2013 2012 2013 2012 2013 2012

7

Key Genericized Products(1)

- Quarterly Sales (€m)

(1) Key genericized products include Lovenox® U.S., Plavix® Western EU, Taxotere® Western EU & U.S., Eloxatin® U.S., Ambien® family U.S.,

Allegra® U.S., Aprovel® Western EU, Xyzal® U.S., Xatral® U.S., Nasacort® U.S. and BMS Alliance (active ingredients of Plavix® and Avapro® sold to BMS)

- €553m at CER - €481m

at CER

ILLUSTRATIVE

ILLUSTRATIVE

€813m

€259m

€752m

€267m

€399m

€257m

Q1 Q2 Q3 Q4

8

"Other Revenues" "Income from Associates"

(1) Avapro® on March 30, 2012 and Plavix® on May 17, 2012

(2) At constant exchange rates. Impact on Business Net Income from the loss of U.S. exclusivity of Plavix® and Avapro® w as €562m in Q1 2013

and €233m in Q2 2013

Loss of Exclusivity of Plavix® & Avapro® in the U.S.(1)

Impact on

H1 2013 Business Net

Income:

€795m(2)

Q2 2013 Also Marked the End of Significant EPS Impact from the Loss of U.S. Exclusivity of Plavix® and Avapro®

2013 2012 2013 2012 2013 2012 2013 2012

€426m

€98m

€247m

€83m

€297m

€122m

Q1 Q2 Q1 Q2

€18m €3m

A Charge Relating to Brazil Was Taken in Q2 2013

9

● Trade channel inventory of generic products at June 30, 2013 was significantly and

inappropriately in excess of volumes needed to satisfy sell out demand

● Q2 2013 results reflect the following:

(1) When including the net sales adjustment of €122m booked in Q2 2013, Brazil generics had negative sales of - €123m

An adjustment reducing quarterly net sales by €122m(1) for product returns,

customer discounts and rebates

An additional provision of €79m mainly for inventory write-offs

Brazil

Vaccines

Growth Platforms Grew by +6.2% Reaching 71.9% of Sales

in Q2 2013(1)

10

(1) Excluding Brazil generics. When including Brazil generics , Grow th Platforms grew by +2.5% at CER and reached 71.4% of sales in Q2 2013

(2) Excluding Brazil generics . When including Brazil generics , Emerging Markets sales w ere down -2.3% at CER in Q2 2013 and up +1.9% in H1 2013

(3) Genzyme perimeter includes Rare Diseases and Multiple Sclerosis franchises

(4) Includes new product launches which do not belong to the other Grow th Platforms listed above: Multaq®, Jevtana®, Mozobil®, Zaltrap® and Auvi-Q™

+16.2%

+0.4%

+1.8%

-5.7%

+25.6%

Other Innovative Products(4) €171m +14.5%

+5.3%(2)

Consumer Healthcare

€760m

Diabetes Solutions €1,621m

€729m

Animal Health €529m

Emerging Markets €2,669m

Genzyme(3) €525m

Q2 2013 Growth at CER

H1 2013 Growth at CER

+17.8%

+7.2%

+2.5%

-4.4%

+25.5%

+14.1%

+6.6%(2)

(1) World excluding U.S., Canada, Western Europe (France, Germany, UK, Italy, Spain, Greece, Cyprus, Malta, Belgium, Luxembourg, Portugal, Holland,

Austria, Sw itzerland, Sweden, Ireland, Finland, Norw ay, Iceland, Denmark), Japan, Australia and New Zealand

(2) When including Brazil generics, Emerging Markets sales w ere down -2.3% at CER

(3) Reported Group sales In Latin America w ere €642m in Q2 2013. When including Brazil generics, Latin America sales w ere down -22.1% at CER

Emerging Markets Sales Highlight Various Dynamics

● Q2 2013 Emerging Markets sales of €2,669m(1)

● Up +5.3% at CER when excluding Brazil generics(2)

● Double-digit growth in Diabetes, Vaccines, Genzyme and Animal Health

● Weaker sales of Generics and lower sales of Oncology products

33.3%

30.8%

24.5%

11.4%

11

(1)

+9.6% +2.0% +1.3% +9.6% Growth

at CER

Q2 2013 Sales (€m)

excluding

Brazil generics

(3)

12

USA: €903m +20.9%

Emerging Markets: €230m +20.2%

Western EU: €203m +5.2%

RoW: €73m +10.5%

Growth

at CER

● Q2 2013 Diabetes sales of €1,621m, up +16.2% at CER

● Double-digit growth for ten consecutive quarters

● Strong performance of Lantus®, up +17.7% at CER

● SoloSTAR® accounted for 56.4% of U.S. sales (vs. 51.9% in Q2 2012)

● Recovery of Apidra® continues, up +25.0% at CER

Quarterly Sales (€m)

€969m

€1,228m

Q2 2013 Was Another Strong Quarter for Diabetes

€1,409m

(1) Source: Insight Health, Weekly Data in Units, MS w ithin GLP-1 market 13

● First sales recorded in Germany

and the UK

● >10% share in 18 weeks in Germany(1)

● EU launch rollout to continue throughout 2013

● Regulatory approval granted

in Japan in late June 2013

● Regulatory reviews continue worldwide

● FDA review ongoing including

interim ELIXA data

● ELIXA CV outcome trial expected to

complete enrolment by end 2013

Encouraging Lyxumia® Launch in Germany and the UK

0%

10%

20%

30%

40%

50%

60%

70%

Byetta Victoza Bydureon Lyxumia® ® ® ®

10.3%

GLP-1 Weekly Market Share (Volume %)

14

Consumer Healthcare Sales Driven by Top 4 Brands in Q2 2013

Q2 2013 Sales (€m) ● Q2 2013 sales of €729m, up +1.8%

at CER

● Solid growth of 4 largest brands:

Doliprane®, Allegra®, Essentiale® and Enterogermina®

● Favorable sequential trend in China following Q1 2013 changes implemented in distribution network

and reduced inventory levels

● Launch of Rolaids® in the U.S.

expected in Q3 2013

● Positive FDA AdCom Rx-to-OTC

switch of Nasacort® AQ in the U.S.

on July 31, 2013

Emerging Markets

€352m

USA €151m

Western EU €162m

RoW €64m

(1) H1 2013 sales w ere €1,457m, up +7.2% at CER

(2) PPH: Polio Pertussis Hib

Q2 2013 Vaccines Growth Mostly Affected by Phasing of Flu Vaccines and Menactra®

15 15

● Q2 2013 sales of €760m, up +0.4% at CER (1)

● PPH(2) sales of €293m, +12.5% at CER driven by Pentaxim® in Emerging Markets

● Progressive U.S. supply recovery of Pentacel® foreseen starting in Q3 2013

● Menactra® sales of €100m, -6.3% at CER reflecting U.S. public orders phasing

● A new record flu season in H1 2013 in the Southern Hemisphere (+3.0% at CER)

● Lower flu vaccine sales of €53m in Q2 2013 following solid Q1 2013 sales

● Early shipments of Fluzone® in the U.S. occurred in July 2013

Differentiated Vaccines Allow for the “Right Dose, Right Patient” Approach

16

Merial Performance Reflects Continuous Pressure on Frontline® in the U.S. and Europe in Q2 2013

Quarterly Sales (€m) ● Q2 2013 sales of €529m, down

-5.7% at CER

● Companion Animals sales of €323m,

down -14.0% at CER impacted by

lower demand for Frontline®

● Weak season for fleas and ticks given

unfavorable weather conditions

● Competition from Rx-only products in veterinary channels

● High promotional spend from fipronil branded generics

● Production Animals sales of €206m,

up +11.1% at CER

€529m

2011 2012 2013

€74m

€113m

€150m

€91m

€126m

€171m

17

Genzyme Rare Diseases Products Delivered Double-Digit Growth in Q2 2013

&

Q2 2013

Q2 2012

Q2 2013

Q2 2012

Q2 2013

Q2 2012

● Q2 2013 Rare Disease sales of

€492m, up +17.7% at CER

● Cerezyme® grew +18.0% at CER

driven by restored supply and new

patients

● Solid sales in Emerging Markets

● Myozyme® up +15.0% at CER

driven by new patient accruals in EU

● Fabrazyme® sales were up +28.4%

at CER driven by new patients

accruals and Replagal® switches(1)

● Strong performance in Western EU and the U.S.

Quarterly Sales (€m)

(1) Replagal® (agalsidase alfa) is a product of Shire

18 18

(1) NAS: New Active Substance

(2) IMS Weekly Total Prescriptions

(3) RRMS: Relapsing Remitting Multiple Sclerosis

Lemtrada™ is developed in collaboration w ith Bayer HealthCare

Genzyme Is Well Positioned to Enter the €10bn Global MS Market with a Franchise Approach

● U.S. sales of €33m in Q2 2013

● Positive CHMP opinion granted

in March 2013

● NAS(1) status granted in June 2013

● EU launch rollout to start in Q4 2013

● CHMP recommendation for approval obtained in June 2013

● Broad approved indication by CHMP: treatment of adult patients with RRMS(3) with active disease defined by clinical or imaging features

● EU launch rollout to start in Q4 2013 and FDA action expected in late 2013

U.S. Weekly TRx(2)

,

,

,

,

,

,

,

Multiple Regulatory Approvals and Positive Phase III Readouts Achieved in the Last 3 Months

5 2

Key Achievements in Last 3 Months

Regulatory

Approvals

Positive Phase III

Readouts

● Fedratinib (JAK2) - JAKARTA

Phase III in Myelofibrosis

● U300 - EDITION I & II Phase III in

Type 2 Diabetes(4)

● Aubagio® - NAS(1) status in EU

● Lemtrada™ - positive CHMP

opinion in EU(2)

● Fluzone® Quadrivalent IM - FDA

approval

● Lyxumia® - approval in Japan(3)

● Nasacort® Rx-to-OTC switch -

positive FDA AdCom

19

(1) NAS: New Active Substance

(2) Lemtrada™ is developed in collaboration w ith Bayer HealthCare

(3) Lyxumia® is in-licensed from Zealand Pharma

(4) U300 is an investigational new formulation of insulin glargine

Investigational New Insulin U300: Striving to Further Enhance the Value of Current Gold Standard Basal Insulin

20

Product Characteristics 1

U300

PK/PD Profile(1) 2 Clinical Benefits(2) 3

Flatter PK Profile

Serum Insulin Glargine Concentration

More Prolonged PD Profile Glucose Infusion Rate

EDITION I

EDITION II

• Equivalent glycemic control

• Fewer nocturnal hypoglycemic events

• Topline results confirm EDITION I

- 21%

U300 Lantus®

● Topline results of EDITION III & IV expected in H2 2013

● Expected regulatory submission in H1 2014 in U.S. and EU Next Steps

(1) Dahmen R et al, ADA 2013, abstract no. 113-OR. Euglycemic clamp study in T1D in steady state

(2) Riddle MC et al, ADA 2013, Late Breaking Poster 43-LB - Primary endpoint: Change in A1c from baseline to Month 6. First main secondary endpoint:

Number (%) percentage of patients reporting at least one severe or confirmed (plasma glucose ≤70 mg/dL) nocturnal [00:00 – 05:59 hrs] hypoglycemic

event from month 3 to 6 (RR: Relative risk)

Slower Insulin Glargine Release

After Subcutaneous Injection

U300

Lantus®

U300

Lantus®

Steady Flow of Clinical and Regulatory Milestones Expected before Year End

21

2013

Regulatory Milestones Q3 Q4

● Aubagio® final EC decision in Multiple Sclerosis in EU

● Lemtrada™ final EC decision in Multiple Sclerosis in EU

● Eliglustat regulatory submission in the U.S. and EU in Gaucher disease

● Fedratinib (JAK2) regulatory submission in the U.S. and EU in Myelofibrosis

● Lemtrada™ FDA decision in Multiple Sclerosis in the U.S.

Headline Phase III Data Releases Q3 Q4

● U300 in Diabetes (EDITION III & IV)

● Alirocumab (Anti-PCSK9) in Hypercholesterolemia (ODYSSEY Mono)

Start of Late Clinical Development Stage Q3 Q4

● Dupilumab (Anti-IL-4Rα) Phase IIb start in Asthma and in Atopic Dermatitis

● C. Difficile Toxoid Vaccine Phase III start

FINANCIAL PERFORMANCE

Jérôme Contamine

Executive Vice President, Chief Financial Officer

22

Q2 Q1 Q4 Q3 Q2 Q1

23

Q2 2013 Performance Impacted by Unfavorable FX, Notably the Continued Yen Depreciation

Currency impact on sales in Q2 2013: Japanese Yen (-€145.6m); US Dollar (-€51.7m); Venezuelan Bolivar (-€35.6m); South African Rand (-€13.4m)

Quarterly Currency Impact (in €m)

Q2 Q1 Q4 Q3 Q2 Q1

+2.4%

+5.8%

+4.0%

+8.0%

€486m

€187m

€235m

€120m

+6.4%

€561m

+8.2%

€277m

Sales Business Operating Income

+1.9%

€166m

+2.1%

€61m

-2.5%

-€212m

-4.5%

-€154m

-3.5%

-€305m

2012 2013

-€125m

-5.9%

2012 2013

(1) With the retroactive application of IAS19R

(2) Business operating income w as down -12.2% at CER in Q2 2013 excluding Brazil generics 24

Q2 2013 Was a Challenging Quarter

€m Q2 2013 Q2 2012 % Change (reported €)

% Change (CER)

Net sales 8,003 8,870 -9.8% -6.3%

Other revenues 83 247 -66.4% -66.0%

Cost of sales (2,672) (2,725) -1.9% +0.7%

Gross profit 5,414 6,392 -15.3% -11.7%

R&D (1,186) (1,235) -4.0% -2.4%

SG&A (2,309) (2,285) +1.1% +4.3%

Other current operating income & expenses 140 (141) - -

Share of Profit/Loss of associates 3 122 - -

Minority interests (45) (50) - -

Business operating income(2) 2,017 2,803 -28.0% -23.6%

Business operating margin 25.2% 31.6% - -

CER: Constant Exchange Rates

(1)

Q2 2013

- €0.17

Q2 2012

€1.46

Q1 2013

€1.22

Q1 2012

€1.83

Q2 2013 Business EPS Was Down, Primarily due to the Patent Cliff, FX and Brazil

Business EPS

25

-18.5% at CER(2)

(1) (1)

€1.11

(4,5)

(3) (3)

Brazil generics

(1) With the retroactive application of IAS19R

(2) On a reported basis, Q2 2013 EPS w as down -24.0%

(3) Average number of shares outstanding w as 1,325.7 million in Q2 2013 versus 1,317.4 million in Q2 2012

(4) This reflects the total negative impact of Brazil generics on Q2 2013 Business EPS, reflecting a negative sales variation

of €212m (including an adjustment reducing quarterly sales by €122m) as w ell as additional provisions of €79m (5) At CER, Brazil generics impacted business EPS by €0.19 in Q2 2013

Multiple Factors Adversely Impacted Q2 2013 CoS Ratio

● Stable Cost of Sales (CoS) in Q2

2013: €2,672m, up +0.7% at CER

● CoS ratio of 33.4% in Q2 2013

vs. Q2 2012 reflecting:

● Improvement in CoS for Lantus® and Genzyme

● Loss of sales from Key Genericized Products with relatively high margin

● Unfavourable currency impact

● Sales adjustment in Brazil

● Mix effects from higher vaccines

sales in EM and from VaxServe(2)

and lower Frontline® sales

26

Cost of Sales (%)

2012 2013

30.7%

(1) Including Brazil generics, cost of sales ratio w as 33.4% in Q2 2013

(2) VaxServe, a Sanofi Pasteur company, is a U.S. healthcare supplier serving primary care physician

offices, community immunization providers, immunizing pharmacies, travel clinics and corporations

excluding Brazil generics

(1)

32.1%

Investing in Late Stage Programs While Keeping

a Tight Control of R&D Expenses

27

● Q2 2013 R&D expenses of

€1,186m, down -2.4% at CER

reflecting:

● Ongoing multiple Phase IIb/III trials (e.g. alirocumab, U300, sarilumab,

dupilumab)

● Continued reduction of internal fixed

costs

● Quarterly R&D spend in line with

guidance

27

R&D Expenses (€m)

€1,186m €1,235m

2012 2013

As Expected, SG&A Increased in Q2 2013 Driven by Launch Costs and Investment in Growth Platforms

28

● Q2 2013 SG&A expenses of

€2,309m, up +4.3% at CER

reflecting:

● Cost savings reallocated to Sales &

Marketing investment in launch and pre-marketing activities

e.g. Aubagio®, Lemtrada™, Lyxumia®, Auvi-Q™(1), Zaltrap®

(2)

● Continued investment in Growth Platforms, in particular in Diabetes

● Flat G&A expenses

28

SG&A Expenses (€m)

€2,309m €2,285m

2012 2013

(1) Sanofi U.S. licensed the North American commercialization rights to Auvi-Q™ from Intelliject Inc.

(2) Collaboration w ith Regeneron

Net Debt

Jun 30, 2013

Other

-312

Acquisitions,

Licensing &

Disposals

-149

CapEx

- 586

Dividend

Payment

-3,638

Share

Repurchase

-890

Proceeds

from Issuance

of Shares

+741

Net Cash from

Operating

Activities

Net Debt

Dec 31, 2012

Cash Flow Reflects Dividend Payment of €3.6bn and

Share Repurchase of €890m in H1 2013

29

(1)

(2)

-7,719

-10,172

+2,381

(1)

H1 2013 (€m)

(1) Including derivatives related to the f inancial debt +€431m at Dec. 31, 2012 and +€307m at June 30, 2013

(2) Excluding Restructuring costs

(3) Other including Restructuring costs

(3)

Q3 2013 Will See a Significantly Reduced Impact from the Cliff

Q3 2013

Patent

Cliff

Impact

30

● Eloxatin® in the U.S.(1)

● Sales of €72m in Q3 2012

● Aprovel® and Co-Aprovel® in EU(2,3)

● Sales of €155m in Q3 2012

● One-time payment by BMS following alliance restructuring

● $80m in Q3 2012

(1) Loss of exclusivity for Eloxatin® in the U.S. w as August 9, 2012

(2) Aprovel® compound patent expired in August 15, 2012 in most EU countries

(3) Co-Aprovel® compound patent w ill expire in October 15, 2013 in EU.

In France, Co-Aprovel® has been facing generic competition since September 2012

Guidance for FY 2013

Outlook for 2013 Adjusted

31 (1) FY 2012 Business EPS of €6.14 w ith the retroactive application of IAS19R

31

● Given the impact of Brazil and the year-to-date performance, 2013

business EPS is expected to be 7% to 10% lower than 2012 at

CER(1), barring major unforeseen adverse events

CONCLUSION

Christopher A. Viehbacher

Chief Executive Officer

32

The Executive Leadership Team Has Been Strengthened

33

Roberto Pucci

Executive VP

Human Resources

Pascale Witz

Executive VP

Global Divisions &

Strategic Commercial

Development

Carsten Hellman

Executive VP

Merial

David-Alexandre Gros

Executive VP

Chief Strategy Officer

Elias Zerhouni

President

Global R&D

Jérôme Contamine

Executive VP

Chief Financial Officer

Olivier Charmeil

Executive VP

Sanofi Pasteur

Karen Linehan

Executive VP

Legal Affairs &

General Counsel

Philippe Luscan

Executive VP

Global Industrial Affairs

Peter Guenter

Executive VP

Global Commercial

Operations

Christopher A. Viehbacher

Chief Executive Officer

David Meeker

Executive VP

Genzyme

Composition of the Executive Committee as of September 1st, 2013

Sanofi’s Growth Profile Poised to Emerge despite Operational Challenges in Q2 2013

Q2 2013 was the final quarter with significant negative impact from

the patent cliff and was also impacted by Brazil and commercial

underperformance in certain business areas

H1 2013 sales growth of +7.7% from Growth Platforms(1) (71.4% of sales)

continues to demonstrate the value of Sanofi’s integrated business model

Sanofi expects to return to growth in H2 2013

Sanofi continues to make strong progress in delivering a growing portfolio

of high potential R&D assets

The executive leadership team has been strengthened and

new management has been appointed in areas of underperformance

1

2

3

4

34

5

(1) Excluding Brazil generics. When including Brazil generics, Grow th Platforms grew +5.4%

and represented 71.2% of sales in H1 2013

APPENDICES

R&D Pipeline

35

36

Late Stage Pipeline – Pharma & Vaccines

eliglustat tartrate

Glucosylceramide synthetase inhibitor

Gaucher disease

U300 Insulin glargine

Type 1+2 diabetes

Quadracel® Diphtheria, tetanus, pertussis

& polio vaccine; 4-6 y of age

Aubagio® (teriflunomide)

Relapsing forms of Multiple sclerosis

(RMS) – Monotherapy, EU

fedratinib JAK2 inhibitor

Myelofibrosis (1L)

Kynamro™ (mipomersen)

Apolipoprotein B-100 antisense

Severe HeFH, U.S.

Dengue Mild-to-severe

dengue fever vaccine

Lemtrada™ (alemtuzumab)

Anti-CD52 mAb

Multiple sclerosis, EU, U.S.

Jevtana® (cabazitaxel)

Metastatic prostate cancer (1L)

alirocumab Anti-PCSK-9 mAb

Hypercholesterolemia

DTP-HepB-Polio-Hib (PR5I)

Pediatric hexavalent vaccine

Lyxumia® (lixisenatide)

GLP-1 agonist

Type 2 diabetes, U.S.

SYNVISC-ONE®

Medical device

Pain in hip OA

sarilumab Anti-IL-6R mAb

Rheumatoid arthritis

Fluzone® QIV ID Quadrivalent inactivated

inf luenza vaccine intradermal

VaxiGrip® QIV IM

Quadrivalent inactivated

inf luenza vaccine

MACI®

Cell-based treatment

Femoral chondyle cartilage defects, U.S.

SAR399063 DHA-GLP + vit D

Pre-sarcopenia

Clostridium difficile Toxoid vaccine

Registration Phase III N

36

N

N

N New Molecular Entity

Immune Mediated Diseases

Rare Diseases

Oncology

Diabetes Solutions

Vaccines

Infectious Diseases

Cardiovascular Diseases

Age Related Degenerative

Diseases

Ophthalmology

Biosurgery

N

N

N

N

Early Stage Pipeline – Pharma & Vaccines

LixiLan lixisenatide+ insulin glargine

Fixed-Ratio / Type 2 diabetes

FOV1101 FDC prednisolone/cyclosporine

Allergic conjunctivitis

SAR279356 (F598)

Anti-PNAG mAb

Serious infections

SAR3419 Maytansin-loaded anti-CD19 mAb

B-cell malignancies refractory/relapsed (NHL, ALL)

sarilumab Anti-IL-6R mAb

Uveitis

ferroquine Antimalarial

Malaria

SAR256212 (MM121)

anti-ErbB3 mAb

Breast cancer (2L, 3L)

SAR292833 (GRC15300)

TRPV3 antagonist

Chronic disabling pain

SAR97276 Antimalarial

Malaria

SAR245409 (XL765)

Oral dual inhibitor of PI3K & mTOR

Non-Hodgkin lymphoma

SAR110894 H3 antagonist

Alzheimer's disease

fresolimumab TGFβ antagonist

Focal segmental glomerulosclerosis

fedratinib JAK-2 inhibitor

Polycythemia vera (2L) Ruxolitinib resistant/intolerant MF

SAR113945 IKK-β inhibitor

Osteoarthritis

dupilumab Anti-IL4Rα mAb

Asthma; Atopic dermatitis

Jevtana® (cabazitaxel)

Small cell lung cancer (2L)

Meninge ACYW conj. 2nd generation meningococcal

conjugate infant vaccine

SAR339658 VLA 2 antagonist

Inflammatory bow el disease

GENZ438027 (ALN-TTR02)

mRNA inhibitor

Familial amyloid polyneuropathy

Rabies VRVg Purif ied vero rabies vaccine

SAR156597 IL4/IL13 Bi-specif ic mAb

Idiopathic pulmonary f ibrosis

Rotavirus Live attenuated tetravalent

Rotavirus oral vaccine

SAR100842 LPA-1/LPA-3

Systemic sclerosis

Phase II

N

N

N

N

N

N N

N

N

N

37

N

N

N

37

N New Molecular Entity

Immune Mediated Diseases

Rare Diseases

Oncology

Diabetes Solutions

Vaccines

Infectious Diseases

Cardiovascular Diseases

Age Related Degenerative

Diseases

Ophthalmology

Biosurgery

N

N

N

Early Stage Pipeline – Pharma & Vaccines

SAR153192 Anti-DLL4 mAb

Solid tumors

SAR260301 PI3K β selective

PTEN – Deficient tumors

SAR252067 Anti-LIGHT mAb

Crohn’s disease

Streptococcus pneumonia Meningitis & pneumonia vaccine

SAR405838 (MI-773)

HDM2 / p53 antagonist

Solid tumors

SAR245408 (XL147)

Oral PI3K inhibitor

Solid tumors

SAR113244 Anti-CXCRS mAb

Systemic lupus erythematosus

Pseudomonas aeruginosa Antibody fragment product

Prev ention of v entilator-associated pneumonia

SAR650984 Anti-CD38 naked mAb

Hematological malignancies

GZ404477 (AAV-hAADC)

Gene therapy Parkinson's disease

SAR127963 P75 receptor antagonist

Trauma brain injury

Tuberculosis Recombinant subunit vaccine

SAR566658

Maytansin-loaded anti-CA6 mAb

Solid tumors

SAR391786 GDF8 mAb

Sarcopenia

SAR126119 TAFIa inhibitor

Acute ischemic stroke

RetinoStat®

Gene therapy Wet age-related macular degeneration (AMD)

SAR307746 Anti-ANG2 mAb

Solid tumors

SAR228810 Anti-protofibrillar AB mAb

Alzheimer’s disease

SAR407899 Rho kinase inhibitor

Pulmonary hypertension

StarGen® Gene therapy

Stargardt disease

SAR125844 C-MET kinase inhibitor

Solid tumors

SAR404460 DHA-GPL + Vit D

Sarcopenia

GZ402665 (rhASM)

Niemann-Pick type B

GZ402663 (sFLT-01)

Gene therapy

Age-related macular degeneration (AMD)

Combination SAR245409 / MSC1936369B

Solid tumors

Insulin Biosimilar Program Diabetes

GZ402671 GCS Inhibitor

Fabry Disease

UshStat® Gene therapy

Usher syndrome 1B

SAR438151 undisclosed target

Phase I

N

N

N

N

N

N

N N

N

N

N N

N

N

N

N

N

N

N

N

N

38 38

N New Molecular Entity

Immune Mediated Diseases

Rare Diseases

Oncology

Diabetes Solutions

Vaccines

Infectious Diseases

Cardiovascular Diseases

Age Related Degenerative

Diseases

Ophthalmology

Biosurgery

N

N

N

39

Phase I Phase II Phase III Registration TOTAL

Oncology 8 3 1 0 12

Diabetes Solutions 0 0 1 1 2

Cardiovascular Diseases 3 1 1 0 5

Immune Mediated

Diseases 2 4 1 1 8

Infectious Diseases 0 3 0 0 3

Ophthalmology 4 1 0 0 5

Rare Diseases 2 1 1 0 4

Age Related

Degenerative Diseases 4 3 1 0 8

Vaccines 3 3 5 1 12

TOTAL 27(2) 19 11 3

R&D Pipeline Summary Table(1)

46 14 NMEs & Vaccines

60

39

48(2)

(1) Excluding life cycle management programs

(2) Includes one Phase I project addressing an undisclosed target

40

Expected R&D Milestones

40

Product Event Timing

Dupilumab (anti IL-4Rα mAb) Start of Phase IIb studies in Asthma and Atopic Dermatitis Mid-year

C. difficile Toxoid Vaccine First Patients in Phase III Program Expected Q3 2013

Aubagio® (teriflunomide) Expected EC decision in RMS in EU Q3 2013

Lemtrada™ (alemtuzumab) Expected EC decision in RMS in EU Q3 2013

Alirocumab (anti PCSK9 mAb) First Phase III headline results in Hypercholesterolemia Q3 2013

Eliglustat Expected U.S. and EU regulatory submissions in Gaucher disease Q4 2013

Fedratinib (JAK2 inhibitor) Expected U.S. and EU regulatory submissions in Myelofibrosis Q4 2013

Lemtrada™ (alemtuzumab) Expected FDA decision in RMS in the U.S. Q4 2013

MACI® Expected U.S. regulatory submission in Cartilage Defects Q4 2013

Investigational new insulin U300 Expected EDITION III & IV Phase III results in Diabetes H2 2013

Lyxumia® (lixisenatide) Expected FDA decision in Type 2 Diabetes in the U.S. Q4 2013/Q1 2014

Investigational new insulin U300 Expected U.S. and EU regulatory submissions in Diabetes H1 2014

LixiLan (lixisenatide + insulin glargine) Expected start of Phase III program in Diabetes H1 2014

APPENDICES

FINANCE

41

42

Business Net Income Statement

Second quarter 2013 Group Total Pharmaceuticals Vaccines Animal Health Others

€ million Q2 2013 Q2 2012(1)

Change Q2 2013 Q2 2012(1)

Change Q2 2013 Q2 2012(1)

Change Q2 2013 Q2 2012(1)

Change Q2 2013 Q2 2012(1)

Net sales 8,003 8,870 (9.8%) 6,714 7,511 (10.6%) 760 783 (2.9%) 529 576 (8.2%)

Other revenues 83 247 (66.4%) 72 233 (69.1%) 5 5 6 9 (33.3%)

Cost of sales (2,672) (2,725) (1.9%) (2,142) (2,246) (4.6%) (350) (301) 16.3% (180) (178) 1.1%

As % of net sales (33.4%) (30.7%) (31.9%) (29.9%) (46.1%) (38.4%) (34.0%) (30.9%)

Gross profit 5,414 6,392 (15.3%) 4,644 5,498 (15.5%) 415 487 (14.8%) 355 407 (12.8%)

As % of net sales 67.6% 72.1% 69.2% 73.2% 54.6% 62.2% 67.1% 70.7%

Research and development expenses

(1,186) (1,235) (4.0%) (1,019) (1,054) (3.3%) (121) (142) (14.8%) (46) (39) 17.9%

As % of net sales (14.8%) (13.9%) (15.2%) (14.0%) (15.9%) (18.1%) (8.7%) (6.8%)

Selling and general expenses

(2,309) (2,285) 1.1% (1,968) (1,936) 1.7% (160) (157) 1.9% (181) (191) (5.2%) (1)

As % of net sales (28.9%) (25.8%) (29.3%) (25.8%) (21.1%) (20.1%) (34.2%) (33.1%)

Other current operating income/expenses

140 (141) 100 (153) 5 (2) (1) 36 14

Share of profit/loss of associates

(2) and joint

ventures 3 122 8 123 (3) (1) (2)

Net income attributable to non-controlling interests

(45) (50) (45) (49) (1)

Business operating income 2,017 2,803 (28.0%) 1,720 2,429 (29.2%) 136 185 (26.5%) 125 176 (29.0%) 36 13

As % of net sales 25.2% 31.6% 25.6% 32.3% 17.9% 23.6% 23.6% 30.6%

Financial income and expenses

(137) (156)

Income tax expense (405) (721)

Tax rate(3)

21.1% 28.0%

Business net income 1,475 1,926 (23.4%)

As % of net sales 18.4% 21.7%

Business earnings per share

(4) (in euros)

1.11 1.46 (24.0%)

(1) Including impact of transition to IAS19R (2) Net of tax (3) Determined on the basis of Business income before tax, associates, and non-controlling interests (4) Based on an average number of shares outstanding of 1,325.7 million in the second quarter of 2013 and 1,317.4 million in the second quarter of 2012

Business Net Income Statement

43

(1) Including impact of transition to IAS19R (2) Net of tax (3) Determined on the basis of Business income before tax, associates, and non-controlling interests (4) Based on an average number of shares outstanding of 1,323.9 million in the first semester of 2013 and 1,319.3 million in the first semester of 2012

First-half 2013 Group Total Pharmaceuticals Vaccines Animal Health Others

€ million H1 2013 H1 2012(1)

Change H1 2013 H1 2012(1)

Change H1 2013 H1 2012(1)

Change H1 2013 H1 2012(1)

Change H1 2013 H1 2012(1)

Net sales 16,062 17,381 (7.6%) 13,522 14,827 (8.8%) 1,457 1,400 4.1% 1,083 1,154 (6.2%)

Other revenues 181 673 (73.1%) 155 645 (76.0%) 12 10 20.0% 14 18 (22.2%)

Cost of sales (5,208) (5,333) (2.3%) (4,167) (4,424) (5.8%) (695) (563) 23.4% (346) (346)

As % of net sales (32.4%) (30.7%) (30.8%) (29.8%) (47.7%) (40.2%) (32.0%) (30.0%)

Gross profit 11,035 12,721 (13.3%) 9,510 11,048 (13.9%) 774 847 (8.6%) 751 826 (9.1%)

As % of net sales 68.7% 73.2% 70.3% 74.5% 53.1% 60.5% 69.3% 71.6%

Research and development expenses

(2,341) (2,407) (2.7%) (2,007) (2,044) (1.8%) (249) (283) (12.0%) (85) (80) 6.3%

As % of net sales (14.6%) (13.8%) (14.8%) (13.8%) (17.1%) (20.2%) (7.8%) (6.9%)

Selling and general expenses

(4,438) (4,401) 0.8% (3,796) (3,755) 1.1% (299) (287) 4.2% (343) (358) (4.2%) (1)

As % of net sales (27.6%) (25.3%) (28.1%) (25.3%) (20.5%) (20.5%) (31.7%) (31.1%)

Other current operating income/expenses

170 16 131 (1) 7 (2) (2) 1 34 18

Share of profit/loss of associates

(2) and joint

ventures 21 419 27 425 (4) (6) (2)

Net income attributable to non-controlling interests

(86) (104) (86) (104)

Business operating income 4,361 6,244 (30.2%) 3,779 5,569 (32.1%) 229 269 (14.9%) 319 389 (18.0%) 34 17

As % of net sales 27.2% 35.9% 27.9% 37.6% 15.7% 19.2% 29.5% 33.7%

Financial income and expenses

(277) (325)

Income tax expense (996) (1,569)

Tax rate(3)

24.0% 28.0%

Business net income 3,088 4,350 (29.0%)

As % of net sales 19.2% 25.0%

Business earnings per share

(4) (in euros)

2.33 3.30 (29.4%)

Reconciliation of Business Net Income to Consolidated Net Income Attributable to Equity Holders of Sanofi

44

Second-Quarter

€ million Q2 2013 Q2 2012(4)

Change

Business net income 1,475 1,926 (23.4%)

Amortization of intangible assets(1)

(768) (842)

Impairment of intangible assets (430) (39)

Fair value remeasurement of contingent consideration liabilities

(76) (73)

Expenses arising from the impact of acquisitions on inventories (3) (3)

Restructuring costs (105) (163)

Other gains and losses, and litigation

Tax effect of items listed above: 469 354

Amortization of intangible assets 231 283

Impairment of intangible assets 180 14

Fair value remeasurement of contingent consideration liabilities 16 1

Expenses arising from the impact of acquisitions on inventories 1 1

Restructuring costs 41 55

Other tax items(2)

(109)

Share of items listed above attributable to non-controlling interests 1

Restructuring costs of associates and joint ventures, and expenses arising from the impact of acquisitions on associates and joint ventures

(10) (7)

Net income attributable to equity holders of Sanofi 444 1,153 (61.5%)

Consolidated earnings per share(3)

(in euros) 0.33 0.88

(1) Of which related to amortization expense generated by the remeasurement of intangible assets as part of business combinations: €740 million in the

second quarter of 2013 and €814 million in the second quarter of 2012. (2) Tax (3%) on dividends paid to shareholders of Sanofi. (3) Based on an average number of shares outstanding of 1,325.7 million in the second quarter of 2013 and 1,317.4 in the second quarter of 2012. (4) Impact of transition to IAS19R.

Reconciliation of Business Net Income to Consolidated Net Income Attributable to Equity Holders of Sanofi

45

First-Half

€ million H1 2013 H1 2012(4)

Change

Business net income 3,088 4,350 (29.0%)

Amortization of intangible assets(1)

(1,543) (1,675)

Impairment of intangible assets (440) (40)

Fair value remeasurement of contingent consideration liabilities

(117) (106)

Expenses arising from the impact of acquisitions on inventories (6) (17)

Restructuring costs (159) (250)

Other gains and losses, and litigation

Tax effect of items listed above: 749 714

Amortization of intangible assets 490 615

Impairment of intangible assets 180 14

Fair value remeasurement of contingent consideration liabilities 20 3

Expenses arising from the impact of acquisitions on inventories 2 5

Restructuring costs 57 77

Other tax items(2)

(109)

Share of items listed above attributable to non-controlling interests

2 1

Restructuring costs of associates and joint ventures, and expenses arising from the impact of acquisitions on associates and joint ventures

(17) (15)

Net income attributable to equity holders of Sanofi 1,448 2,962 (51.1%)

Consolidated earnings per share(3)

(in euros) 1.09 2.25

(1) Of which related to amortization expense generated by the remeasurement of intangible assets as part of business combinations: €1,489 million in the first semester of 2013 and €1,602 million in the first semester of 2012.

(2) Tax (3%) on dividends paid to shareholders of Sanofi. (3) Based on an average number of shares outstanding of 1,323.9 million in the first semester of 2013 and 1,319.3 in the first semester of 2012. (4) Including impact of transition to IAS19R.

Consolidated Income Statement

46

€ million Q2 2013 Q2 2012

(1) H1 2013 H1 2012

(1)

Net sales 8,003 8,870 16,062 17,381

Other revenues 83 247 181 673

Cost of sales (2,675) (2,728) (5,214) (5,350)

Gross profit 5,411 6,389 11,029 12,704

Research and development expenses (1,186) (1,235) (2,341) (2,407)

Selling and general expenses (2,309) (2,285) (4,438) (4,401)

Other operating income 276 113 347 319

Other operating expenses (136) (254) (177) (303)

Amortization of intangible assets (768) (842) (1,543) (1,675)

Impairment of intangible assets (430) (39) (440) (40)

Fair value remeasurement of contingent consideration liabilities (76) (73) (117) (106)

Restructuring costs (105) (163) (159) (250)

Other gains and losses, and litigation

Operating income 677 1,611 2,161 3,841

Financial expense (154) (181) (311) (370)

Financial income 17 25 34 45

Income before tax and associates and joint ventures 540 1,455 1,884 3,516

Income tax expense(2)

(45) (367) (356) (855)

Share of profit/loss of associates and joint ventures (7) 115 4 404

Net income 488 1,203 1,532 3,065

Net income attributable to non-controlling interests 44 50 84 103

Net income attributable to equity holders of Sanofi 444 1,153 1,448 2,962

Average number of shares outstanding (million) 1,325.7 1,317.4 1,323.9 1,319.3

Consolidated earnings per share (in euros) 0.33 0.88 1.09 2.25

(1) Including impact of transition to IAS19R. (2) In 2013, including a tax on dividends paid to shareholders of Sanofi: €109 million.

Cash Flow Statement

47

€ million H1 2013 H1 2012(1)

Business net income 3,088 4,350

Depreciation, amortization and impairment of property, plant and equipment and software 594 627

Net gains and losses on disposals of non-current assets, net of tax (154) (40)

Other non cash items (277) 396

Operating cash flow before changes in working capital(2)

3,251 5,333

Changes in working capital(2)

(870) (684)

Acquisitions of property, plant and equipment and software (586) (711)

Free cash flow(2)

1,795 3,938

Acquisitions of intangibles, excluding software (142) (75)

Acquisitions of investments, including assumed debt(2)

(273) (179)

Restructuring costs paid (325) (504)

Proceeds from disposals of property, plant and equipment, intangibles, and other non-current assets, net of tax

266 71

Issuance of Sanofi shares 741 74

Dividends paid to shareholders of Sanofi (3,638) (3,487)

Acquisition of treasury shares

(890)

(454)

Disposals of treasury shares, net of tax 2

Other items(3)

11 128

Change in net debt (2,453) (488)

(1) Including impact of transition to IAS19R. (2)

Excluding restructuring costs.

(3) Of which foreign exchange effect on net debt €17 million in 2013 and -€68 million in 2012.

Balance Sheet

48

ASSETS

€ million June 30, 2013 Dec 31, 2012

(1)

LIABILITIES & EQUITY

€ million June 30, 2013 Dec 31, 2012

(1)

Property, plant and equipment 10,409 10,578 Equity attributable to equity-holders of Sanofi

56,066 57,332

Intangible assets (including goodwill) 56,410 58,265 Equity attributable to non-controlling interests

129 134

Non-current financial assets, investments in associates, and deferred tax assets

9,309 8,665 Total equity 56,195 57,466

Long-term debt 10,689 10,719

Non-current liabilities related to business combinations and to non-controlling interests

1,347 1,350

Non-current assets 76,128 77,508 Provisions and other non-current liabilities 9,565 11,043

Deferred tax liabilities 5,547 5,932

Inventories, accounts receivable and other current assets

16,626 16,419 Non-current liabilities 27,148 29,044

Cash and cash equivalents 4,181 6,381 Accounts payable and other current liabilities 9,549 9,948

Current liabilities related to business combinations and to non-controlling interests

109 100

Short-term debt and current portion of long-term debt

3,971 3,812

Current assets 20,807 22,800 Current liabilities 13,629 13,860

Assets held for sale or exchange 52 101 Liabilities related to assets held for sale or exchange

15 39

Total ASSETS 96,987 100,409 Total LIABILITIES & EQUITY 96,987 100,409

(1) Including impact of transition to IAS19R.