HALF-YEAR FINANCIAL REPORT CONTENTS CONDENSED HALF-YEAR CONSOLIDATED FINANCIAL STATEMENTS 2 CONSOLIDATED BALANCE SHEETS LIABILITIES AND EQUITY 3 CONSOLIDATED INCOME STATEMENTS 4 CONSOLIDATED STATEMENTS OF COMPREHENSIVE I

The condensed half-year consolidated financial statements are unaudited but have been subject to a review

by the statutory auditors in accordance with professional standards applicable in France.

CONSOLIDATED BALANCE SHEETS ASSETS

(1) Includes the impact of applying the amended IAS 19 (see Note A.1.2.)

The accompanying notes on pages 8 to 35 are an integral part of the condensed half-year consolidated financial statements.

2 | 2013 Half-Year Financial Report Sanofi

CONSOLIDATED BALANCE SHEETS LIABILITIES AND EQUITY

(1) Includes the impact of applying the amended IAS 19 (see Note A.1.2.)

The accompanying notes on pages 8 to 35 are an integral part of the condensed half-year consolidated financial statements.

Sanofi 2013 Half-Year Financial Report | 3

CONSOLIDATED INCOME STATEMENTS

(1) Includes the impact of applying the amended IAS 19 (see Note A.1.2.)

The accompanying notes on pages 8 to 35 are an integral part of the condensed half-year consolidated financial statements.

4 | 2013 Half-year financial report Sanofi

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(1) Includes the impact of applying the amended IAS 19 (see Note A.1.2.)

The accompanying notes on pages 8 to 35 are an integral part of the condensed half-year consolidated financial statements.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(1) Includes the impact of applying the amended IAS 19 (see Note A.1.2.)

(3) See Notes B.8.2. and B.8.3.

The accompanying notes on pages 8 to 35 are an integral part of the condensed half-year consolidated financial statements.

6 | 2013 Half-year financial report Sanofi

CONSOLIDATED STATEMENTS OF CASH FLOWS

(1) Includes impact of applying the amended IAS 19: ( 36 million) for the first half of 2012 and ( 78 million) for 2012 as a whole (see Note A.1.2.).

(2) See Note C.1. to the financial statements for the year ended December 31, 2012.

(3) This line includes the impact of the 384 million net loss taken against the intangible assets of BiPar (see Note B.4.).

(4) Includes available-for-sale financial assets.

(5) Includes impact of applying the amended IAS 19: ( 14 million) for the first half of 2012 and ( 25 million) for 2012 as a whole (see Note A.1.2.).

(6) Includes impact of applying the amended IAS 19: 50 million for the first half of 2012 and 103 million for 2012 as a whole (see Note A.1.2.).

(7) This line includes contributions paid to pension funds (see Note B.12.).

(9) This line also contains payments of contingent consideration, which are included in the liability measured and booked in connection with business combinations.

(10) Property, plant and equipment, intangible assets, investments in consolidated entities and other non-current financial assets.

The accompanying notes on pages 8 to 35 are an integral part of the condensed half-year consolidated financial statements.

NOTES TO THE CONDENSED HALF-YEAR CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2013

Sanofi, together with its subsidiaries (collectively Sanofi or the Group ), is a diversified global healthcare leader engaged in the research, development and marketing of therapeutic solutions focused on patient needs. Sanofi has fundamental strengths in the healthcare field, operating via seven growth platforms: Emerging Markets, Diabetes Solutions, Human Vaccines, Consumer Health Care, Animal Health, New Genzyme, and Other Innovative Products. Sanofi, the parent company of the Group, is a soci t anonyme (a form of limited liability company) incorporated under the laws of France. The registered office is at 54, rue La Bo tie, 75008 Paris.

Sanofi is listed in Paris (Euronext: SAN) and New York (NYSE: SNY).

The condensed consolidated financial statements for the six months ended June 30, 2013 were reviewed by the Sanofi Board of Directors at the Board meeting on July 31, 2013.

A/ Basis of preparation of the half-year financial statements and accounting policies

A.1. INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)

The half-year consolidated financial statements have been prepared and presented in condensed format in accordance with IAS 34 (Interim Financial Reporting). The accompanying notes therefore relate to significant events and transactions of the period, and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2012.

The accounting policies used in the preparation of the consolidated financial statements as of June 30, 2013 comply with international financial reporting standards (IFRS) as endorsed by the European Union and as issued by the International Accounting Standards Board (IASB). Except for the change described in Note A.1.2., the accounting policies applied as of June 30, 2013 are identical to those described in the notes to the published consolidated financial statements as of December 31, 2012.

IFRSs endorsed by the European Union as of June 30, 2013 can be accessed under the heading IAS/IFRS Standards and Interpretations at:

A.1.1. New standards and amendments applicable in 2013

The new standards, amendments to standards, and interpretations issued by the IASB and mandatorily applicable with effect from the 2013 financial year are:

IAS 19 (Employee Benefits): The impacts of applying the amended IAS 19 are presented in Note A.1.2.

IFRS 13 (Fair Value Measurement), issued jointly by the IASB and the U.S. Federal Accounting Standards Board (FASB), proposes a common definition of fair value and application guidance. This new standard requires counterparty risk to be taken into account when measuring the fair value of financial instruments. The measurement of counterparty risk performed on first-time application of IFRS 13 indicated that this risk was not material to the Group. IFRS 13 also specifies the disclosures required for users of the financial statements to assess the techniques used to measure fair value. In accordance with IAS 34 the disclosures about the valuation techniques used to measure the fair value of financial instruments are provided in the table in Note A.4. and disclosures about the sensitivity of fair values of level 3 financial instruments are provided in Note B.11.

8 | 2013 Half-Year Financial Report Sanofi

In addition, the IASB issued five standards in May 2011 intended to improve the principles applied in the preparation of consolidated financial statements and the disclosure requirements for joint arrangements and for any type of entity in which an interest is held. All of these standards were endorsed by the European Union in December 2012, and the Group has early adopted them with effect from January 1, 2013.

IFRS 10 (Consolidated Financial Statements) supersedes the parts of IAS 27 (Consolidated and Separate Financial Statements) relating to consolidated financial statements, and SIC-12 (Consolidation Special Purpose Entities). The new standard redefines the concept of control. In accordance with IFRS 10, the Group s consolidated financial statements include all types of entity that the Group controls directly or indirectly, regardless of the level of its interest in the equity of the entity. The Sanofi Group controls an entity when it has power over that entity, is exposed to or has rights to variable returns from its involvement with that entity, and has the ability to use its power over that entity to affect the amount of those returns.

Entities consolidated by the Group are referred to as subsidiaries or, in the case of certain entities which the Group controls by means other than voting rights, as consolidated structured entities . IFRS 10 has had no material impact on the scope of consolidation of the Group.

IFRS 11 (Joint Arrangements) supersedes IAS 31 (Interests in Joint Ventures) and SIC-13 (Jointly Controlled Entities Non-Monetary Contributions by Venturers). The new standard establishes principles that are applicable to the accounting for arrangements under which two or more parties exercise joint control. Depending on the rights and obligations of the parties, a joint arrangement is classified either as a joint operation (in which the Group recognizes its assets and liabilities in proportion to its rights to those assets and obligations for those liabilities) or as a joint venture (accounted for by the equity method). Sanofi exercises joint control if decisions relating to the relevant activities of the entity require the unanimous consent of Sanofi and of the other parties who share control. Under IFRS 11, proportionate consolidation is no longer a permitted option; the Group had not made use of this option. The Group has completed its assessment of IFRS 11, which has had no material impact on the scope of consolidation.

IFRS 12 (Disclosures of Interests in Other Entities) covers all the disclosures required when an entity holds interests in subsidiaries, associates or unconsolidated structured entities, regardless of the level of control or influence over the entity. IFRS 12 does not apply to interim financial reporting, unless significant events have occurred during the interim period. An assessment of the impact of IFRS 12 on the notes to the financial statements is ongoing. No significant event occurred during the first half of 2013 that would require any change to Sanofi s financial information.

Two further standards IAS 27 (Consolidated and Separate Financial Statements) and IAS 28 (Investments in Associates) have been amended, to bring them into line with the changes introduced by the publication of IFRS 10, IFRS 11 and IFRS 12.

Various other standards and amendments to standards are applicable from 2013 onwards. However, these pronouncements have no impact on the Group s annual or half-year financial statements.

Sanofi 2013 Half-Year Financial Report | 9

A.1.2. Change in accounting policy due to the amended IAS 19

As indicated in Note A.1.1., Sanofi is applying the amended IAS 19 (Employee Benefits) this year for the first time. The amended IAS 19 has been applied retrospectively, and the principal changes are as follows:

- Interest income on defined-benefit pension plan assets are now measured by multiplying the fair value of the plan assets by the discount rate, instead of using assumptions about the expected rate of return on plan assets.

- The corridor option, which allowed actuarial gains and losses to be deferred, is no longer permitted. However, this change has no impact because the Group already recognized all actuarial gains and losses directly in equity, in Other comprehensive income.

- Past service cost arising during the period must now be recognized directly in profit or loss, because the amended standard now prohibits the deferral of unvested past service cost.

Also during 2013, Sanofi made a voluntary change in accounting policy by electing to report interest expense on the net defined-benefit liability as a financial expense; previously, this had been reported as a component of operating profit. The change is justified by the financial nature of this item, and brings the presentation into line with that used for the expense arising from the unwinding of discount on other long-term provisions. This reclassification has been applied retrospectively.

The impacts on the consolidated balance sheet as of January 1, 2012 are set forth below:

The impacts on the consolidated balance sheet as of December 31, 2012 are set forth below:

10 | 2013 Half-Year Financial Report Sanofi

The impacts on the 2012 full-year consolidated income statement are set forth below:

(1) Includes the reclassification of the interest expense on the net defined-benefit liability from operating profit to financial expenses.

The impacts on the 2012 first-half consolidated income statement are set forth below:

(1) Includes the reclassification of the interest expense on the net defined-benefit liability from operating profit to financial expenses.

Sanofi 2013 Half-Year Financial Report | 11

The impacts on the 2012 full-year statement of comprehensive income are set forth below:

The impacts on the 2012 first-half statement of comprehensive income are set forth below:

Finally, the impacts on the statement of cash flows do not represent cash inflows or outflows, and hence operating cash flow before changes in working capital for the 6 months ended June 30, 2012 and for the year ended December 31, 2012 is unaffected. These impacts are reported on the lines Net income attributable to equity holders of Sanofi, Net change in deferred taxes and Net change in provisions in the consolidated statement of cash flows.

A.1.3. New standards, interpretations and amendments issued in the first half of 2013

In May 2013, the IASB issued IFRIC 21 (Levies), which is applicable retrospectively from January 1, 2014 but has yet to be endorsed by the European Union. This interpretation clarifies that the obligating event that results in recognition of a liability for government levies (i.e. any taxes, duties or other levies that do not fall within the scope of IAS 12) depends on the terms of the underlying legislation, regardless of the period used as the calculation basis for the levy.

An assessment of the impact of this interpretation is ongoing.

12 | 2013 Half-Year Financial Report Sanofi

A.2. USE OF ESTIMATES

The preparation of financial statements requires management to make reasonable estimates and assumptions based on information available at the date of the finalization of the financial statements. These estimates and assumptions may affect the reported amounts of assets, liabilities, revenues and expenses in the financial statements, and disclosures of contingent assets and contingent liabilities as at the date of the review of the financial statements. Examples of estimates and assumptions include:

For half-year financial reporting purposes, and as allowed under IAS 34, Sanofi has determined income tax expense on the basis of an estimate of the effective tax rate for the full financial year. This rate is applied to Income before tax and associates and joint ventures. The estimated effective tax rate is based on the tax rates that will be applicable to projected pre-tax profits or losses arising in the various tax jurisdictions in which Sanofi operates.

Actual results could vary from these estimates.

A.3. SEASONAL TRENDS

Sanofi s activities are not subject to significant seasonal fluctuations.

A.4. FAIR VALUE OF FINANCIAL INSTRUMENTS