2012 - IR - LatAm

IR Thematic Seminar in LatAm

São Paulo - November 29th - 30th, 2012

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 includeprojections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions andexpectations with respect to future financial results, events, operations, services, product development and potential, andstatements 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 believesthat 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 andgenerally beyond the control of Sanofi, that could cause actual results and developments to differ materially from thoseexpressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertaintiesinclude 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 toapprove any drug, device or biological application that may be filed for any such product candidates as well as theirdecisions regarding labeling and other matters that could affect the availability or commercial potential of such productcandidates, the absence of guarantee that the product candidates if approved will be commercially successful, the futureapproval and commercial success of therapeutic alternatives, the Group's ability to benefit from external growthopportunities, trends in exchange rates and prevailing interest rates, the impact of cost containment policies andsubsequent changes thereto, the average number of shares outstanding as well as those discussed or identified in thepublic filings with the SEC and the AMF made by Sanofi, including those listed under "Risk Factors" and "CautionaryStatement Regarding Forward-Looking Statements" in Sanofi's annual report on Form 20-F for the year ended December31, 2011. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise anyforward-looking information or statements.

33

LatAm Highlights

● Hanspeter Spek, President, Global Operations

Brazil Overview

● Heraldo Marchezini, SVP, Latin America and General Manager, Brazil

Genzyme

● Rogerio Vivaldi, MD, SVP, Head of Rare Diseases - Genzyme

Consumer Healthcare


Q&A

Break

AgendaNovember 29, 2012

44

Diabetes

● Fernando Sampaio, General Manager, Sanofi Pharma, Brazil

Generics


Animal Health

● José Barella, SVP, Animal Health - Merial

Vaccines

● Patrice Lebrun, VP, Latin America - Sanofi Pasteur

Q&A


55

The Interfarma Perspective on Brazil(1)

● Antônio Britto, Executive President of Interfarma

LatAm Industrial Affairs

● François Blanot, VP Industrial Affairs, Latam

Q&A

Suzano Plant Visit

The Brazilian Pharmaceutical Market

● Herbert Gonçalves, Partner at Primeira Consulta

Q&A


(1) Interfarma: Brazil Research-based Pharmaceutical Manufacturers Association

LatAm Highlights

6

Hanspeter Spek

President, Global Operations

A Strong and Experienced Group of Managers Presenting at the IR Thematic Seminar on LatAm

Patrice LebrunVP, Latin America Sanofi Pasteur

Fernando SampaioGeneral Manager, Sanofi Pharma, Brazil

Rogerio Vivaldi, MDSVP, Head of Rare DiseasesGenzyme

Heraldo MarcheziniSVP, Latin America and General Manager, Brazil

José BarellaSVP, Animal HealthMerial

7

François BlanotVP Industrial AffairsLatin America

Latin America - A Fast Growing Region

Agenda

88

Sanofi - The Market Leader in LatAm

Latin America Is a Region of Diversity

9

CAMAC(2)

GDP: $305bnPopulation: 70m

VenezuelaGDP $338bn

Population: 30m

ColombiaGDP: $365bnPopulation: 47m

ChileGDP: $268bnPopulation: 17m

BoliviaGDP: $27bnPopulation: 11m

MexicoGDP: $ 1,163bnPopulation: 115m

BrazilGDP $ 2,425bn

Population: 197m

ArgentinaGDP $475bn

Population: 41m

UruguayGDP: $50bn

Population: 3m

ParaguayGDP: $26bn

Population: 7m

PeruGDP: $200bnPopulation: 30m

EcuadorGDP: $71bnPopulation: 15m

(1) IMF World Economic Outlook Database, October 2012 (2) CAMAC: Central America & Caribbean Countries

● A large population● ~600m people or 8% of the world‘s

population

● Diverse political systems and unequal distribution of wealth ● LatAm per capita income only 30%

of the U.S.

● Regional development gaps● >30 distinct Emerging Markets

● Disparities in affordability● Public funding vs out-of-pocket

expenditures for Healthcare

Market Characteristics(1)

The Economic Outlook for LatAm Remains Positive

10

LatAm GDP Growth(1)

GDP in %Inflation rate in %

● Economic indicators show resilience● Fairly stable GDP growth projected ● Recent slowdown in larger economies

(Argentina, Brazil) balanced by faster growth in smaller economies (Colombia, Peru, etc...)

● Appreciation of most currencies (except Brazilian Real in 2012)

● Unemployment rate at historic low level: 6.8% for LatAm in 2011(2)

● Mix of external economic factors ● Weaker prospects in advanced

economies (Eurozone, U.S.)● Commodities and food prices boom● Capital inflow surge

(1) IMF World Economic Outlook 2012(2) International Labour Organization 2012

ProjectionsActuals

The Unequal Evolution of Healthcare Expenditures Reflects a Diverse Socio-Economic Environment

11

Evolution of Health Expenditures(1)

(% of GDP per country)

Venezuela

EcuadorMexico

Brazil

Colombia

Argentina

● LatAm healthcare expenditures growing faster than GDP● 8% of GDP in 2010(1)

● Continued strong growth expected in healthcare expenditures as a percent of GDP in key markets ● Brazil, Mexico, Colombia

● Disparities in the development of healthcare infrastructure across LatAm countries● Tailored approach to local markets

required

(1) World Bank

LatAm Markets Are Largely Out-Of-Pocket but Public Funding Is a Growing Percent of Healthcare Expenditures

● Large portion of out-of-pocket healthcare expenditures typical of Emerging Markets ● High percent of out-of-pocket spend

on Pharmaceuticals (>80% in Brazil)

● Significant public sector funding through healthcare programs in key countries● Government purchases by "Sistema

único de saúde" (SUS) in Brazil● "Seguro popular" in Mexico

● Private health insurance gaining traction among the middle-class

12

Split of PharmaceuticalExpenditures (%)(1)

(1) IMS World Review Q1 2012 and Sanofi internal analysis

A Growing and Aging Population with Increased Purchasing Power of a Larger Middle Class

13(1) Latin America and Caribbean Demographic Center (CELADE) – Population Division of ECLAC and United Nations, 2011 (2) Wolfensohn Center for Development at Brookings Institution, 2010

Total Population & People ≥60 in LatAm(1)

(in millions)Middle Class Population in LatAm(2)

(in millions)

(1) World Bank

Healthcare Expenditures in LatAm Are Projected to Continue to Expand

14

% Population ≥ 60 years old relative toHealthcare expenditures per capita(1)

% Population over 60 years

Hea

lthca

re e

xpen

ditu

res

per c

apita

(U.S

.$)

5% 10% 15% 20% 25% 30%0

1000

2000

3000

4000

5000

6000

7000

8000

● LatAm healthcare expenditure per capita still low at U.S. $671 vs.global average of ~U.S. $1,000(1)

● Growth of average healthcare expenditure per capita in LatAm>10% in 2010

● Market attractiveness to support growth in the medium term● Economic expansion of the region● Aging population ● Chronic diseases on the rise● Growing upper and middle-class

LatAm Pharmaceutical Markets Are Expected to Reach Over $100bn by 2016

Rank in 2000(1) Rank in 2016e(2)

1 U.S. 1 U.S.

2 Japan 2 China

3 Germany 3 Japan

4 France 4 Brazil

5 UK 5 Germany

6 Italy 6 France

7 China 7 Russia

8 Brazil 8 Italy

9 Canada 9 India

10 Spain 10 Canada

11 Mexico 11 UK

12 Argentina 12 Spain

13 South Korea 13 South Korea

14 India 14 Australia

15 Australia 15 Mexico

16 Turkey 16 Argentina

17 Netherlands 17 Turkey

18 Poland 18 Venezuela

15

LatAm Pharmaceutical Marketas % of Emerging Markets(3)

(1) IMS World Review 2000 (US$)(2) IMS Market Prognosis 2011-2016 (US$)(3) World excluding USA, Canada, Western Europe (France, Germany, UK, Italy, Spain, Greece, Cyprus, Malta, Belgium, Luxembourg, Portugal, Holland,

Austria, Switzerland, Sweden, Ireland, Finland, Norway, Iceland, Denmark), Japan, Australia /New Zealand

Top 3 Countries Make Up ~70% of Pharmaceuticalsin LatAm

16

$29.0bn

$12.2bn

Market size $68bn

$6.6bn

$5.7bn

$4.1bn

Expected market size $102bn

$10.9bn

$47.4bn

$15.0bn

$5.4bn

$8.5bn

$11.7bn

$13.6bn

2011 2016e

(1) IMS Market Prognosis 2011-2016 (US$)

Agenda

1717

Latin America - A Fast Growing Region

Sanofi - The Market Leader in LatAm

(1) World excluding USA, Canada, Western Europe (France, Germany, UK, Italy, Spain, Greece, Cyprus, Malta, Belgium, Luxembourg, Portugal, Holland, Austria, Switzerland, Sweden, Ireland, Finland, Norway, Iceland, Denmark), Japan, Australia /New Zealand

LatAm Is a Significant Contributorto Sanofi’s Leadership in Emerging Markets

18

(1)

LatAm~30%

€3,111m€2,963m

€1,913m

>€3,300m

2009 2010 2011 2012e

LatAm Sales

2012e: ~€11bn

Emerging Markets Sales

OtherEmergingMarkets

70%

9M 2012

1. 7.3%

2. PFIZER 6.9%

3. NOVARTIS 6.6%

4. MERCK 5.3%

5. BAYER 4.3%

6. GSK 4.1%

7. ROCHE 3.9%

8. ABBOTT 3.1%

9. J&J 3.0%

10. ASTRAZENECA 2.8%

Sanofi Is the Market Leader in LatAm

19(1) IMS MIDAS MAT Q2 2012

MAT Q2 2012(1)

19

2008(1)● Sanofi: an undisputed market leader in LatAm for several years● Overall market share of 7.5%

in Pharmaceuticals(2)

● Strong presence in most LatAm countries

● Leader in Brazil, the largest market

● Significant changes in the LatAm market ● Most multinational companies

losing market share● Increasingly fierce domestic

competition

1. 7.5%

2. NOVARTIS 5.6%

3. PFIZER 5.2%

4. EMS 4.2%

5. GSK 4.0%

6. MERCK 3.9%

7. BAYER 3.7%

8. ROCHE 3.3%

9. ABBOTT 3.2%

10. HYPERMARCAS 3.0%

Sanofi Is a Well Diversified Player in LatAmwith Multiple Sources of Sustainable Growth

20

14%

12%

8%

Generics12%

New Genzyme5%

Animal Health8%

Vaccines

OtherPharmaceuticals 41%

CHCDiabetes

LatAm Sales Split by Business (2012e)

20

Brazil and Mexico Represent >2/3 of Sales and Headcount for Sanofi in LatAm

21

Geographic Sales Split

2012e

> €3,300m

33%

21%

46%

Headcount Split

2012e

> 10,000 people

29%

20%

51%

Other LatAm

Mexico

Brazil

Sanofi’s Leadership in LatAm Is Illustrated byits Broad Industrial Footprint and Significant Headcount

22

LatAm Headcount per Function2012e

39%

38%

6%18%

R&D

Manufacturing

Sales Force

Others

(1) Sanofi’s Business Operating Margin excluding central administrative and R&D costs was around 40% in 2011 in Emerging Markets

● A network of 10 plants dedicated to the LatAm market● ~3,900 people in Manufacturing● Branded pharmaceuticals, Generics,

CHC, Vaccines, Animal Health● 95% of Pharma volumes sold in

LatAm produced locally

● A strong sales force ● ~3,900 commercial people

● A solid operating margin ● In line with business operating

margin for the whole Emerging Markets perimeter(1)

LatAm Represents a Strategic Opportunity for Sustainable Growth

2323

Historical presence

● Leverage unique accumulated local experience and diversified product portfolio

Market reach ● Expand product portfolio to address growing middle-class

Manufacturing capacity

● Leverage network of industrial sites to serve increasing volumeand ability to produce at local costs

Quality of management ● Attract, train and retain local management talent

Local innovation

● Use local R&D capabilities to participate in global clinical trialsand to respond to LCM needs in LatAm

Bolt-on acquisitions

● Continue to enlarge our portfolio by successfully identifying and integrating M&A targets

Brazil Overview

2424

Heraldo Marchezini

Senior Vice President, Latin Americaand General Manager, Brazil

The Pharmaceutical Market in Brazil

Brazil - A Country on the Rise

Agenda

2525

Sanofi’s Leadership in Brazil


● Significant growth potential● 6th largest economy worldwide(1)

● 5th largest population (~200m)(2)

● Public debt under control ● Public debt / GDP ratio: 35% in

September 2012(3)

● Policy tightening to contain inflation● Stable inflation targeted below 6%(3)

● Economic growth expected to rebound in 2013(4)

● 2011 GDP: +2.7% ● 2012e GDP: +1.5%● 2013e GDP: +4.0%

26

(1) IMF 2012, World Bank (2) IBGE – Instituto Brasileiro de Geografia e Estatistica (2010 Population census) (3) Brazilian Central Bank(4) IMF, World Economic Outlook database, October 2012

26

2007 2008 2009 2010 2011 2012e

Brazil Nominal GDP(3,4)

(BRL in trillion)4.5

2.7

Brazil Benefited Significantly from a Period of Stability and Rising Living Standards from 2000 to 2011

● Increase in employment levels and salaries boosted consumption

● Emergence of a large middle class● Consumer credit expansion

created opportunities for the middle class

● Large foreign investment inflows● Cumulative value of €288bn(1)

from 2000-2011

● Lowest unemployment rate in Brazil’s history reached in 2011● 4.7% vs. 11.7% in 2003(2)

27

(1) Brazilian Central Bank(2) IBGE (Average unemployment rate of major metropolitan regions)(3) Socio-Economic Database for Latin America and the Caribbean (CEDLAS and The World Bank) 27

Population Shares of Income Categories in Brazil ($ per day)(3)

Agenda

2828




Brazil Is Expected to Become >$47bn Pharmaceutical Market by 2016

29

>+10%CAGR

(1) IMS Market Prognosis 2012 and internal estimates

● Brazil expected to become the 4th

largest Pharma market by 2016

● Private demand accounts for the vast majority of the market ● Retail sector represented >70%

of total market in 2011(1)

● Public market growth accelerated by “Plano Brasil Maior”

● Generics segment expected to outpace market growth● Expansion of public sector coverage ● “Farmacia popular” program to

expand access to medicines for chronic diseases

Pharmaceutical Market by Segments(1)

$47.4bn

$29.0bn

● Evolving regulatory framework● Unified Healthcare System (SUS)(1)

established in 1988 ● Pipeline Patent Law of 1996● ANS(2) created in 1998● Generics Law introduced in 1999● Guidelines for Biosimilars in 2011

● Stricter regulatory procedures implemented by ANVISA(3)

● Bioequivalence tests for all branded Generics/Similares required by 2014

● Tight price control through CMED(4)

● Annual price adjustments based on multiple criteria

30

Changing Dynamics in a Competitive Marketplace

(1) SUS- Sistema Único de Saúde (2) ANS - Agência Nacional de Saúde Suplementar(3) ANVISA - Agência Nacional de Vigilância Sanitária(4) CMED - Câmara de Regulação do Mercado de Medicamentos(5) IMS Health 2012

Regulatory Environment Competitive Environment

● Government policies implemented to boost national industry● Growing share of domestic players

46% in 2012, up from 37% in 2007(5)

● “Profarma” - Government incentives for local manufacturers

● Public-Private Partnerships (‘PPP’) for improved technology transfers

● Fast growing number of generics ● Use driven by government policies

● More Multinationals with “local” base● Consolidation in the distribution

channels● Drugstore chains with regional

expansion strategies

Drugstore Chains are Increasingly Important Players in the Retail Market

● Drugstore chains capture share in a growing retail market● Investments in regional expansion● Modern retail concepts with

state-of-the-art infrastructure● Launch of private labels

● In-store shopping experience increasingly important to consumers● Large product assortments

appealing to the new Middle-class● Combination of Health, 'Well-being'

and Beauty product offerings● Strong presence in retail channels

key to market share expansion

31(1) IMS Latin America 2012 (IMS Distribution Study, Company Annual Reports, Midea, IMS analysis)

4-6%

35-39%

57-61%

Sales Split by of Point of Sales Type(1)

Agenda

3232




Sanofi’s Largest Operation in Emerging Markets

● Commercial presence since 1955● Headquartered in São Paulo

● Also LatAm regional HQ

● Sanofi’s 5th largest country by sales● Sales of €1,522m in 2011 (+17%)(1)

● 4.6% of Group sales in 2011

● >5,200 employees

● Manufacturing capabilities at 4 sites● Market leadership gained through

acquisition of Medley in 2009 ● Five of Brazil’s top 20 pharma

products are from Sanofi(2)

3333

Brasilia

Sao Paulo

€767m

€1,522m

(1) 2011 sales growth at CER excluding A/H1N1 sales of €204m in 2010(2) IMS MIDAS August 2012

€1,458m

Sales in Brazil(1)

(in €m)

A/H1N1€1,254m

A Diversified Portfolio Enhanced by the

Acquisition of Medley

Our Continued Success is Based on 3 Pillars

34

1

Sustainable growth driven by strengths in the local market

A Preferred Partner Status at Pharmacies

2

A Committed Organization

3

Sanofi: Well Diversified with Leading Presence in Key Pharma Market Segments in Brazil

● Strong local brands including OTX and Mature or Off-Patent Rx Drugs● >50 brands actively promoted

● Unique combination of medical detailing expertise and media/POS know-how

● More than 150 products and >500 presentations manufactured

● Broad offerings adapted to local needs● 92% of sales are from non-patented drugs

● New line extensions fueling growth

35

Share of Market Segments in Brazil(1,2,3)

#1 in Pharmaceuticals

Total Pharmaceutical Market (in %)Retail + Non Retail

CHC (in %)Retail

Generics (in %)Retail

#2 in CHC

9.8%

EMS8.9%

Novartis7.8%

Hypermarcas12.0%

Eurofarma7.4%

EMS7.3%

11.9%

#1 in Generics

OthersOthers Others

EMS24.1%

28.7%

(1) IMS MAT September 2012(2) In value(3) Only Pharma (Sanofi and Genzyme) - Excluding Vaccines and Merial

Drive performancein Ethical Rx

Consolidate leadership in Generics

Strong Outlook for Future Growth of Pharmaceuticals in Brazil

36

● Strengthen diabetes leadership in private and public markets, based on success of Lantus®

● Successfully launch new products

● Continue innovation through life cycle management

● Leverage broad CHC portfolio through extended distribution channels

● Execute new launches in a brand-driven consumer market

● Penetrate into high growth CHC segments

● Benefit from increasing demand for affordable drugs by the emerging middle class

● Seize opportunities with launches of high-demand off-patent products

● Secure industrial capacity to accommodate growth

Expand presencein CHC

A tailored approach in each market segment

Genzyme

37

Rogerio Vivaldi, MD

Senior Vice President, Head of Rare Diseases

Agenda

38

Genzyme - A Leader in Treating Rare Diseases in LatAm

Genzyme’s History in LatAm

Building a Presence in Multiple Sclerosis in LatAm

MexicoBrazil

- A Transformative Therapy

Genzyme - A Commitment to Changing the Lives of Patients with Rare Diseases

39

Applying Genzyme’s Deep Commitment to Rare Diseases in LatAm

● Latin America followed Europe and became a major geographic region of expansion for Genzyme

● Brazil office established in 1997● Sales in LatAm of €160m in last

four quarters● Growth of +20% reported in Q3 2012

versus Q2 2012

Expanding Rare Disease Treatment Global Rare Diseases Sales(1)

(1) Key Rare Diseases brands include Cerezyme®, Myozyme®, Fabrazyme®, Thyrogen®, and Aldurazyme®

40

2011

€470m

2012

Genzyme Benefits from a Strong History in LatAm

41

● Headquarters in Rio de Janeiro, Brazil (1997)

● Presence expanded over time across LatAm:● Buenos Aires, Argentina (1997)● São Paulo, Brazil (2000)● Bogotá, Colombia (2002)● Mexico City (2003)● Santiago, Chile (2004)● San Jose, Costa Rica (2005)● Caracas, Venezuela (2007)● Panama City, Panama (2010)● Montevideo, Uruguay (2010)● Lima, Peru (2011)

Mexico city

Buenos AiresSantiago

Bogotá

San Jose Caracas

Panama city

Montevideo

Lima

Rio de JaneiroSão Paulo

Genzyme Pioneered and Overcame Challenges in LatAm

Challenges Genzyme Expertise

Socialized Medicine Navigating bureaucratic systems

Centralized Tender Bids Past success with tender offers

Complex Reimbursement Process Experienced professionals

No Orphan Drug Legislation Participating in Brazil’s Fast Track process

Patient Advocacy Groups Vital role understood

Limited Patient Data Comprehensive patient registries

42

Today, Genzyme Is Well-Established in LatAm

Leader in LatAm treating patients with Enzyme Replacement Therapy (ERT)● Focused efforts on diagnostic capacity

● Early investment in the region

● >1,700 patients treated with Genzyme’s products(1)

First fully established biotech company in LatAm● >300 employees and support staff in 15 countries

● Benefit of aligning with Sanofi’s large infrastructure

Strong partnerships with key stakeholders● Governments, Patient Groups, Academia and Research

43

1

2

3

(1) Including Gaucher patients enrolled in clinical trials for the investigational agent eliglustat tartrate

Agenda

44




Genzyme’s Rare Disease Business in LatAmHas a Promising Growth Outlook

45

LatAm Rare Diseases Sales(1)

(1) Key Rare Diseases brands include Cerezyme®, Myozyme®, Fabrazyme®, Thyrogen® and Aldurazyme®

● LatAm sales represented 10% of Genzyme total sales in 9M 2012

● Genzyme comprised 5% of Sanofi LatAm business in 9M 2012

● Solid recovery in Brazil attributable to improved supply situation

● Brazil accounted for 46% of Genzyme sales in LatAm in Q3 2012

● Significant room for expansion exists in other LatAm countries

€48m

2011 2012

Genzyme’s Growth Expected to Come from Newly Identified Patients and Full Supply Situation

46

Patients on Treatment in LatAm(1)

2011 2012

~1,700Eliglustat tartrate

(1) Including Gaucher patients enrolled in clinical trials for the investigational agent eliglustat tartrate

● First Gaucher patient treated with Cerezyme® in 1992

● Cerezyme® is an established market leader● Treating >500 Gaucher patients out

of an estimated total population of 660 patients treated in Brazil(1)

● ~86% patient share(2)

● Proven commitment to Gaucher community with ongoing development of eliglustat

Brazil Has the Second Largest Gaucher Patient Population in the World(1)

47

76%

10%

10%3%~1%

(1) Estimates based on public information and internal data(2) Including Gaucher patients enrolled in clinical trials for the investigational agent eliglustat tartrate

Brazil: Gaucher-Treated Patient Share(1)

86% of all Gaucher-treated patients(2)

● >100 patients enrolled in LatAm in eliglustat Phase 3 trials ● Largest clinical trial in the Rare

Disease field ever conducted

● Sites in Argentina, Brazil and Mexico

● Estimated product launch 2014~400

48

(1)

(1) Includes Phase II participants

~170~160

~40

Eliglustat Expected to Expand Genzyme’s Gaucher Franchise

Eliglustat Clincal ProgramPatients Enrolled(1)

~400

Agenda

49




The Multiple Sclerosis Market in LatAm Is Poisedfor Significant Change

(1) Based on IMS data and Genzyme estimates(2) Disease Modifying Therapy(3) Lemtrada™ is the proprietary name submitted to health authorities for the company’s investigational multiple sclerosis agent

alemtuzumab being co-developed with Bayer Health Care

● Market estimated to be ~€375m in 2011(1)

● ~23,000 patients on DMTs(2)

● 80% of treated patients in Brazil, Mexico and Argentina

● Standard injectable therapies available ● Beta-interferons, glatiramer acetate

and natalizumab

● Reimbursement programs exist● Public and private payors

● Pricing for branded DMTs in range of EU and U.S.

Under regulatory review in Brazil, Mexico and Argentina● Regulatory approvals expected in 2013

Regulatory submissions in Brazil, Mexico and Argentina expected in Q1 2013●Regulatory approvals expected in 2014

®

50

(3)

Well Established Rare Disease presence in LatAm● Largest pool of patients treated(1)

● Successful government tenders● Experienced with payors

Existing scope for expansion● Identify new patients● Increase publications, education and training on rare diseases● Create next generation products

Future roll-out of Multiple Sclerosis franchise in LatAm● High unmet need● Sizeable market● Leverage success of rare disease experience in the region

1

2

3

51

Genzyme Contributing to Sanofi’s Growth in LatAm

(1) Based on public information and internal data

Paulinho, Brazil

52

Consumer Healthcare

53

Heraldo Marchezini


Sanofi’s Successful Brand Strategies in LatAm

Consumer Healthcare Market in LatAm

Agenda

54

LatAm is One of the Fastest GrowingRegional Consumer Healthcare Markets Worldwide(1)

55

+8%+20%

9%

+41%

+15%

-0.2%

Total CHC Market in LatAm in 2012 ~€8.7bn, +14%(1)

in €bn

(1) Nicholas Hall OTC Year Book, DB6 2012(2) IMS MIDAS MAT August 2012(3) IMS OTC Market MAT August 2012

The CHC Market Remains Very Fragmented in LatAm

56(1) IMS MIDAS MAT August 2012

Top 10 CHC Companies in LatAmby Market Share(1)

Hypermarcas

Bayer

GSK

EMS

J&J

BoehringerNestle

PfizerGenomma

Others

● Strong presence of multinational companies ● Six MNCs within Top 10● Sanofi: #1 player in CHC in LatAm

● Domestic players in leading positions at a national level● Hypermarcas #1 in Brazil(1)

● Genomma Lab #1 in Mexico(1)

● Grupo Pharma #1 in Venezuela(1)

● Growing competition from private label brands

The CHC Market in LatAm Has Grown Double-Digits for Many Years

57(1) IMS Retail MAT June 2012 - Growth is at constant x-rate

+14%

+10%

+17%

+17%

+11% +17% +20% +14%

28.7

45.0

● Experiencing solid double-digit growth for more than 10 years● 2012 CHC growth slightly slower

than for total market ● Recent re-acceleration, driven by

Brazil and Venezuela

● CHC growth reflects country specific out-of-pocket spend levels● Brazil (+15%), Venezuela (+41%),

Argentina (+20%)● Mexico, Uruguay, Ecuador (<10%)

● Opportunities in new segments driven by lifestyle changes● New focus on nutrition, “well-being”

(€m)

Sanofi’s Successful Brand Strategies in LatAm

Consumer Healthcare Market in LatAm

Agenda

58

Sanofi is #1 in CHC in LatAm

59(1) IMS OTC Market MAT August 2012(2) Vitamins, Minerals & Supplements

CHC Quarterly Sales(€m)

2009 2010 2011 2012

€130m

● CHC is a key contributor to Sanofi’s growth in LatAm● Sales of €470m in last 4 quarters● Brazil is the 4th largest contributor

to Sanofi CHC sales

● Focus on leadership in key categories● Pain, Gastrointestinals,

VMS(2)/Nutraceuticals, Intimate Hygiene

● Strength built on heritage products and brand recognition ● Dorflex® in Pain● Lactacyd® in Feminine Hygiene

● Launch of new products in growth categories● DePura® and Gelicart® /Trivance®

in VMS/Nutraceuticals

Strategic Investment Focused on Regional Brands and Local Heroes

60

Pain Gastro-intestinal

Cough & Cold

VMS/Nutra-ceuticals, ‘Well-Being’

Feminine Hygiene

Others

Skin careEyes care

Others

Local Brands

Adermicina

Regional Brands

LocalHeroes

Calmidol

Enterolyte

SINUBERASE

PAX

BioGripBioGrip

- The Champion in Brazil Keeps Growing

61

sales (in €m)

(1) IMS MIDAS, August 2012

● Top selling brand(1) in the pharmamarket in Brazil since 2006● #1 out of >11,500 registered brands

● Key contributor to Sanofi’s revenue base in Brazil● >€100m sales expected in 2012

● Competitive presence at the Point of Sale key for continued growth

● Potential to leverage brand by using U.S. Chattem portfolio

and One Brand Equity

&A Successful CHC Growth Story in LatAm

62

LatAm Brazil

● “Intimate Hygiene” : a new category with low household penetration ● Sustainable growth

● High consumer loyalty to established products with high brand recognition● Low price sensitivity

● Brand not subject to patent cliff or impact from generics● Long duration asset

● #1 category brand in ten LatAm countries(1)

● Growth of >40% expected in 2012● Geographic expansion● DTC and brand LCM

(1) IMS MIDAS, August 2012(2) Direct-to-consumer

- Innovation and Growth in the Category via Geographical Expansion in LatAm

63

Launch in Mexico

Launch inVenezuela, Colombia,

Central America

Launch inPeru, Ecuador,

Uruguay, Paraguay

Life-cyclemanagement,Introduction of

capsules

Launch inArgentina

Q4 2012Launch in

Brazil

in €m

● Strong relationship and brand equity with physicians and patients● Physician and DTC educational program

● Expansion through regionalization strategy● Currently launched in >10 countries

● Balanced high double-digit growth across all countries● Growth of >50% in Latin America expected in 2012

DePura® - A New CHC Brand Launched by Sanofi in the Brazilian Vitamins Market

64

● Regulatory status of a food supplement and promoted as an ethical medicine

● Developed locally by Sanofi Brazil● Manufactured in Suzano facility

● Launched in Brazil in 2011 and reached market leadership in July 2012(1)

● DePura® kids launched in March

● Launch in LatAm planned for 2013● ~100m consumers aged 50+ are

targets for vitamin D supplementation

(1) IMS PMB July 2012

>2x

Strategic Focus Has Driven Performance of Sanofi’s CHC Growth Platform in LatAm

Revenue Base in Latin AmericaExpected to Double Over 3 Years

2009 2010 2011 2012e

Launch innovations and new variants

Strategic Priorities in the CHC marketin LatAm

Drive regional expansion

Boost sales ofexisting brands

€242m

€418m

65

Sanofi is #1 in Consumer Healthcare in LatAm(1)

● Broad portfolio of well-established brands with name recognition at the country level (“local heroes”)

● Execution of regionalization strategies replicates business modelin multiple markets (“regional brands”)● Strong Brand Equity ● Professional Endorsement by Physicians● Execution at the Point of Sale

● Steady flow of new products in high growth CHC categories

(1) IMS MIDAS, August 201266

1

2

3

Diabetes

67

Fernando Sampaio

General Manager, Sanofi Pharma, Brazil

Agenda

68

Sanofi - A Leader in Diabetes

The Diabetes Market in Latin America and Brazil

Broadening Access with A Patient Centric Approach

Diabetes is a Large Growth Opportunity in LatAm

Adults with diabetes in Latin America(1) 36m

Percent of patients not achieving glycemic control target values in Latin America(3) >70%

Patients undiagnosed in Latin America(2) ~45%

Expected size of Latin America diabetes market in 2015(4) €2.55bn

Expected CAGR growth of diabetes market between 2011 and 2015(4) 25%

69

(1) IDF. Diabetes Atlas 5th Edition, 2011(2) Pramparo P et al. Prevention and Control (2006) 2, 149–157(3) Lopez Stewart G et al. Pan Am J Public Health 22(1), 2007 (4) Internal Data (IMS projection)

Diabetes Prevalence(1)

70

Diabetes Prevalence is Rapidly Growing in LatAm

● Expected growth of diabetes prevalence in LatAm is significantly higher than the U.S. or Europe

● Patients are predominately treated with first generation therapies

● Lifestyle of middle class changing (i.e. increasingly sedentary, diets including fast food) leading to higher diabetes prevalence

● Health Authorities focus on chronic diseases, prevention programs and treatment

(1) IDF. Diabetes Atlas 5th Edition, 2011

36m

56m51m

38m

53m

64m+58%+36%

+22%

20 Million Diabetic Patients Expected in Brazil by 2030

● Aging population with increased incidence of lifestyle related diseases

● Market is largely out-of-pocket and for high-end treatments

● Increased purchasing power of growing middle and low income classes

● Treatment of chronic diseases is a priority of the Health Authorities● Glibenclamide and NPH are provided

free of charge through “Farmácia Popular”

Brazil: Number of Diabetic Patients(1)

2030e2011

(1) IDF Diabetes Atlas 5th Edition , 2011 – Country Estimates Table

12.5m

19.6m

71

Other LatAm Markets Also Hold Sizable Potential

● 10.3m type 2 diabetes patients(1), one of the highest prevalence rates in LatAm

● Low rate of insulinization (<10%), low average daily dose and 95% of patients not at treatment goal(2)

● Innovative approach: Sanofi integrated solutions program proposed to the gov’t

● Government increasing coverage reaching ~50% of the diabetic population

● Diagnosis and treatment is increasing due to social programs

● Sanofi is increasing educational programs for GPs and at hospitals

Mexico

ArgentinaVenezuela

● Government programs offering last generation diabetes therapies & devices

● All patients are reimbursed for insulin treatment from HMOs based on protocols and local legislation for diabetes

Colombia

● Healthcare reform covers ~90% of the population

● Analogue insulins now reimbursed on basic formulary, increasing insulin usage

● Sanofi is increasing investment by ~50% with a focus on patient education

72(1) IDF Diabetes Atlas 5th edition, 2011(2) ENSANUT 2006. salud pública de méxico. 2010 (52) suppl 1:S19-S26

73

80%+16%

5%-4%

15%+23%

Brazil(2)

Market Share (%) Growth vs. prior year (%)

Basal

Short-acting

Premix

Basal Insulins Are the Largest and Fastest Growing Insulin Segment in LatAm

Insulin Market Share by Type (Value)

72%+27%

14%+23%

14%+16%

Latin America(1)


(1) MAT IMS MIDAS June 2012; Retail + Non-Retail(2) MAT IMS August 2012; Retail + Non-Retail

€459m market size(1) €222m market size(2)

Agenda

74




Sanofi: A Track Record of Strong Growth in Diabetes in LatAm

● LatAm Diabetes sales in 2012 expected to approach €300m and grow more than 20% at CER

● Fastest growing markets(1)

● Mexico (+33% at CER) ● Colombia (+67% at CER) ● Venezuela (+73% at CER)

● LatAm Lantus® sales in 2011 were €176m, up 35% at CER

● Lantus® is #1 product for Sanofi in LatAm

75

Diabetes LatAm Sales (€m)

186 (+26%)

2010 2011 2012

228 (+35%)

(1) Based on 9M 2012 results

Lantus® is the Cornerstone of our Diabetes Franchise and our LatAm Presence is Well-Diversified

76

77%

23% 29%

26%

10%

11%

13%

11%

Sales Split by Product(1)% of Sales

(1) Based on 9M 2012 reported sales(2) Amaryl®, Apidra®, Insuman®

Sales Split by Country(1)% of Sales

Lantus®

Others(2)Brazil

Mexico

Venezuela

Others

Colombia

Argentina

Sanofi: The Leader in Diabetes in LatAm

(1) Year-to-date IMS MIDAS Data, Quarterly (as of June); Retail + Non Retail(2) Source: Diabetes Image and Company Performance (180 physicians) 77

● Sanofi has a leading share of the diabetes market in LatAm

● Broad leadership across LatAm markets(1):

● #1 in Mexico (27% share)● #1 in Venezuela (22% share)● #2 in Brazil (20% share)

● Provide integrated patient solutions treating multiple patient comorbidities

● Sanofi diabetes has solid company image:

● #1 ranking among endocrinologists and diabetologists in Brazil(2)

21.1%

9.1%

15.3%

8.6% 8.5%

LatAm Diabetes Sales: Market Share(1)

Sano

fi

Mer

ck K

GaA

Nov

o

Lilly

Mer

ck

40%+25%

39%-3%

19%+44%

Sanofi Has the Highest Insulin Market Share in LatAmand Brazil

78


Brazil(2)

42%+34%

35%+14%

19%+28%

3%+30%


Latin America(1)

Sanofi

Lilly

Novo

Others

Insulin Market Share by Company (Value)

(1) MAT IMS MIDAS June 2012; Retail + Non-Retail(2) MAT IMS August 2012; Retail + Non-Retail

2%nm

Sanofi: A Strong Heritage of Diabetes Solutions in Brazil

1972

● Launched Daonil®, the leading sulphonylurea until 1999

● Launched Amaryl®, leader in the OAD market from 1999 to 2002

● Completed 46 in licensing agreementsccc

● Launched Lantus®, a novel basal insulin & became the leading insulin

● Unique patient support programs: 24/7 call center, educators, etc.

1996

● Launched Insuman® and pushed the market towards devices

2000 2004 2010

®Daonilglibenclamida

79

Agenda

80




Patients’ Purchasing Power Limits Private Market Growth

Income per Household Brazil(households in millions)

11.1

13.8

22.3

3.3

9.3

14.0

29.3

4.2

Low< €0.2k

2004 2009

Mid-Low€0.2 - 0.4 k

Middle€0.4 - 2.2 k

High> €2.2 k

MonthlyIncome Change

-1.8

+0.2

+7.0

+1.0

Source: IBGE (PNAD 2009/2004), Analysis Primeira ConsultaEuro = 2,3 Reais; 2004 income adjusted by inflation to 2009 figures(1) Internal research

● Outpatient drugs are out-of-pocket expenses in Brazil

● Patients generally allocate 3% to 10% of their income to pharmaceutical spend(1)

● <10% of the population can afford the average cost of Lantus®

therapy(1)

● Economic growth is increasing the affordability of medications but access challenges remain

81

Lantus® is Not Sufficiently Accessible in Brazil

● Insulin analogues are priced at a premium

● Lantus® market share is concentrated in income class “A”

● Main objective is to expand access to the middle class● Target groups “B”, “C” and “D”

represent nearly half of insulin patient population

(1) Source: Vidalink analysis / Primeira Consulta; patient share by volume(2) A = >4,500 BRL per month; B = 3,000 to 4,500 BRL per month; C = 2,000 to 3,000 BRL per month; D = 1,000 to 2,000 BRL per month;

E = < 1,000 BRL per month

1% 1%3%

4%

19%

< 1,0K 1,0 - 2,0K 2,0 - 3,0K 3,0 - 4,5K > 4,5K

Brazil: Lantus® Share By Income Class(1,2)

Target Groups

D C B AE

82

“Alcance” Project Expands Lantus® Access in Brazil and Supports Volume Expansion

● Selectively targets patients that cannot afford Lantus® therapy

● Individual screening process adjusts benefit to each patient’s need and income

● Reduces the overall treatment cost for diabetes patients

● Leverages multiple partners and Sanofi’s broad portfolio

● Offers patients a comprehensive solution treating diabetes and other co-morbidities

83

Sales in Brazil Accelerated following Implementation of Alcance

0

Lantus® Sales Growth: Private Sector (€m)

A key growth driver for Lantus® in Brazil

20112008 2009 20102007

33%

27%

13%

22%24%

Alcance Implemented

84

Delivering More Value to Patients in Brazil

85

® Brazil has key competitive advantages to leverage the opportunity, including Alcance and superior share of voice with physicians

2013Anticipated launch

Sanofi will bring the most integrated and complete offering for diabetes treatment in Brazil including disease management


A new “pen” device developed exclusively for the emerging markets


Insupen needle aims to improve patient satisfaction; Sanofi has a broad distribution system and strong customer service

2012On the market

Diabetic foot ulcer is a common complication of diabetes; Hidrastar is a moisturizing cream for daily use


An Integrated Solution Provider for Diabetic Patients

(1) Product is not yet commercially available in Brazil(2) In-licensed from Zealand Pharma A/S. Lyxumia® is the proprietary name submitted to health authorities for

investigational GLP-1 RA lixisenatide. Lixisenatide is not currently approved or licensed anywhere in the world.

Value Market

VolumeMarket

Core Brands Devices/Services

Tailored Offering

Patient Value

Patient Access

● Lantus®

● Amaryl®

● Apidra®

● Lyxumia®(2)

● BGM(1)

● SoloSTAR● Moisturizer(1)

● Call Center● Educators● Other Services

● Alcance● All-Star pen(1)

● Insuman®(1)

● Generics

86

Key Pillars to Fuel our Diabetes Growth in LatAm

87

Generics

88

Heraldo Marchezini


Agenda

89

Medley - A Major Player in the Generics Market

Generics - A Fast Growing Market Segment

Medley’s Strategy for Continued Strong Profitable Growth

Generics Are a Fast Growing Segment in the LatAm Pharmaceutical Market

90(1) IMS Midas MAT Q2 2012 (Retail only, Pharmacy Purchase Price (PPP) not included)

● Drivers of generics market growth:● Lack / loss of exclusivity of patented

originator drugs

● Government expenditures providing access to medicine and coverage to a broader population

● Aging population and increased prevalence of chronic diseases

● “Branded Generics” represent majority of generic market in value

● Further acceleration of generics market expected● Strong national manufacturers

LatAm Pharmaceutical Sales(1)

(in €bn)

Continued Leadership in the Generics Market is Key to our Growth Strategy in LatAm

91

Total Market Generics

+13% +16%

+5% +8%

+25% +31%

+19% +20%

+8% +11%

+3% +4%

LatAm generics market expected to reach ~€35bn in 2017

(3)

(1) IMS MIDAS MAT Q2.2012 (Retail only, PPP not included)(2) IMS Prognosis and internal estimates(3) International Nonproprietary Names

Sales in €bn in 2012(1) Expected growth 2012-17(2) (CAGR)

The Brazilian Generics Market Offers Two Distinct Business Models

Rx Originator Pure GenericsINN

“Similares”Branded Generics

Price • High Reference Price• Low discounts

• Mandatory % below branded reference price

• High discounts

• Equivalent to Generics• Low discounts

Investment,Promotion

• Field force• Concept selling

• Sales Channels• Investment at POS(1)

• Added Value

• Field force• Branding, Sampling• Pharmacy presence

1 2

92(1) Point of Sale

Agenda

93




- A Powerhouse for Affordable Medicines

94

● Total sales of €370m in 2011(1)

● ~1,800 employees● Headquartered at Campinas site

in São Paulo, Brazil● Strong operations and market reach

● ~550 sales representatives

● Worldclass industrial facilites ● ~1,000 employees in Industrial

Affairs

● Customer service to 25,000 pharmacies and 80,000 physicians

● Generics INN, Branded Generics

(1) Generics sales in LatAm were in total €441m in 2011 (of which Medley was €370m)

95

A Highly Competitive Portfolio Aligned with Market Demand in Brazil

77 molecules account for

~80% ofGenericmarket volume

77molecules

313molecules

Total Genericsmarket

Total Genericsmarket

~20% volume

~80% volume

65molecules

108molecules

Rank Molecule TotalMarketBRL(in m)

Market Leader

Market Share

1 Losartan 71.7 19.6%

2 Sildenafil 36.6 26.3%

3 Pantoprazole 33.0 51.3%

4 Omeprazole 29.6 40.9%

5 Enalapril 29.2 28.0%

6 Simvastatin 27.3 35.2%

7 Amoxicillin 21.2 27.5%

8 Clopidogrel 21.1 30.7%

9 Metamizole Sod. 19.4 46.9%

10 Atenolol 18.1 35.7%

Medley‘s portfolio includes 65 out of 77 high-volume generics molecules(1)

Medley leads the market owning 7 out of the top 10 generics molecules in value(2)

(1) IMS MAT September 2012(2) IMS September 2012 in local currency – generic market

High Exposure to the São Paulo State Market Provides Opportunity for Geographic Diversification

96(1) IMS YTD August 2012 (units)

Market Share per Region(1)

(in volume)

São PauloState,41%

24%

20%

22%

25%

São PauloState

Volume Split by Region in Brazil(1)

A Compelling Presence at the Point-of-Sale

● Exploit selling space to raise awareness for preferred brand

● Wealthier middle class asking for increased number of product presentations

● Favorable purchasing conditions at modern pharmacy chains

● Secure profitability throughreturns from trade marketing investments

97

Agenda

98




99

Generate synergies from Sanofi’s leading position in LatAm

- Consolidate Leadership Position in the Generics Market in LatAm

Extend geographic reach

3 Strategic Levers for Future Growth in Brazil and LatAm

Broaden position in Branded Generics

Maintain leadership in volume market

Focus on high consumption molecules

• Expand in Branded Generics

1 2 3

Leverage existing strong image

• Address growing demand from population segments• Middle class, Aging population

• Enlarge business model across LatAm markets

• M&A(1)

(1) Genfar - The closing of the transaction is subject to certain conditions precedent and is expected to occur in Q1 2013

Esomeprazol - A Major Launch Success in 2012

100

12%

in k units

(1) IMS PMB September 2012

● Esomeprazol: a high volume molecule● Launch of generic version of Nexium®

by Medley in July 2012● Medley rapidly expanding its unit share

● Medley achieved 29% market share of generic esomeprazol in September(1)

● Medley’s esomeprazol is the #1 generic version in Brazil(1)

24%

29%

Share of esomeprazol market in Brazil(1)

therapeutic classes

101

Portfolio Expansion into Key Countries Across LatAm

101

78

150 products in its portfolio, in over presentations500

25 countries with Medley’s products in Latin America

dossiers prepared since LatAm platform was established in 2010645

262 dossiers approved

ACHIEVEMENTS(where Medley is present):

(1) Based on units sold per month in Latin America YTD October 2012; internal analysis

- A Brand With a Growing Reach

102

~24 million patients buy Medley products

monthly(1)

HONDURASQ4 2011

MEXICOQ3 2011

GUATEMALAQ4 2010

EL SALVADORQ3 2011

COLOMBIAQ1 2012

PANAMAQ4 2011

VENEZUELAQ3 2011

BRAZIL

Branded GXINN

INN

INN

Branded GX

Branded GXINN

INN

INN

Branded GX

22.6% 22.5%

10.9%

6.7%

Generics Segment in Colombia by Market Share (value)(2)

MC

KE

SS

ON

(1) The closing of the transaction is subject to certain conditions precedent and is expected to occur in the first quarter of 2013(2) IMS MAT June 2012 (Generics and Branded Generics)

11.3%

Genfar Acquisition in Colombia to Accelerate Growth Path towards Leadership in Affordable Medicines

103

LA S

AN

TE

LAFR

AN

CO

L

Sanofi and Genfar to reach ~30% share of Gx market

● Sanofi to acquire Genfar S.A.(1) in Colombia● #1 position by sales(2)

● One of the fastest growing companies

● Genfar has a commercial presence in more than 10 countries in the Andean countries & Central America

● >1,200 employees in the region● Sales of $133m in 2011

● 30% of sales outside of Colombia

● Industrial facilities located in Cali● Large portfolio of affordable medicines

Genfar – A Complementary Footprint in the Andean and Central American Region

104(1) IMS MAT June 2012

● A commercial presence covering a region of 200m people● Andean and Central America generics

market of $5.2bn growing at +12%(1)

● Solid awareness of Genfar brands in large markets● Colombia, Peru, Venezuela

● Leadership positions in Generics in most markets after acquisition

● A strategic fit with Sanofi's portfolio● Improves leverage with existing

relationships in the distribution channels

Sustaining Leadership in the Generics Market in LatAm

105

● Generics are expected to remain the fastest growingsegment in Pharmaceuticals in LatAm

● Medley is the leader in affordable medicines● Broad product portfolio● High brand recognition● Local manufacturing capabilities

● Medley is poised for future growth ● Maintain leadership in the volume market● Enlarge position in Branded Generics● Extend geographical reach in the region

● Genfar acquisition to further boost leadership position in affordable medicines across the Andean region

Animal Health

106

José Barella

Senior Vice President, Animal Health

Merial - A Leading Presence in Latin America

Production Animal Health - Growth Drivers

Strategic priorities in Latin America

Agenda

Companion Animal Health - Growth Drivers

107

Merial: An Animal Health Leader with a Broad, Diversified Geographic Footprint

● Merial global sales were €2bn in 2011● Globally ranked #1 in the Pets market(1)

and #3 in Production Animals(2)

● 25% of sales in Emerging Markets, approaching Western Europe in size (vs. 20% in 2008)● Growth driven by Asia and LatAm● Room for further expansion● Expected to grow twice as fast as

developed markets from 2012-2015(1, 2)

● LatAm accounts for ~50% of MerialEmerging Markets sales

42%U.S.

27%WesternEurope

23%Emerging

Markets

Other Countries

Merial 2011 Sales Split by Region

(1) Source: Vetnosis Companion Animal 2012 Study(2) Source: Excludes Medical Feed Additives; Vetnosis 2012 Avian Study, Vetnosis 2012 Pig Study, Vetnosis 2012 Cattle Study,

Vetnosis 2012 Sheep study

8%

25%

27%

40%

108

Merial: A Leading Presence in LatAm

Merial: LatAm Quarterly Sales (€m)(1)

● LatAm sales in 2012 expected to approach €270m, up double-digits at CER

● Paulinia, Brazil manufacturing site is one of the largest AH facilities in the southern hemisphere

● Leading positions in key LatAm markets:

● #1 ranking in Argentina(2)

● #3 ranking in Brazil(3)

● #4 ranking in Mexico(4)

● Brazil, Mexico and Argentina accounted for ~75% of YTD 2012 LatAm sales

2010 2011 2012

228 (+8%) 246 (+11%)

(1) Growth at constant exchange rates(2) Source: CARPROVE(3) Source: IMS-SINDAN(4) Source: KLEFFMANN Goup

109

Merial: Double-Digit Growth in Both Production and Companion Animal Health Businesses

Merial Sales in Latin America (€m)

2008 2009 2010 2011 2012e2008 2009 2010 2011 2012e

Production Animal Health Sales Companion Animal Health Sales

185 61CAGR +14%

CAGR +10%

110

Merial LatAm Well Positioned with a Wide Range of Leading Premium Brands

(1) Compiling data from IMS-SINDAN, CARPROVE and KLEFFMANN

#1 Pets brand in LatAm(1)

Parasiticide controlling fleas and ticks for pets

Recombinant DNA vaccine – advanced protection

#1 internal / external parasiticide control in LatAm for cattle and swine(1)

Pour-on broad spectrum parasiticide for cattle

Leading innovative recombinant vaccine for poultry

Leading Foot and Mouth disease supplier in LatAm

111




Agenda


112

Latin America Is a Top Producer of Meat Globally

LatAm: Feeding the World

26% of world bovine

production

21% of world poultry

production

16% of world meat

production

6% of world pork

production

#1in the world

#2in the world

#5in the world

#2in the world

Source: Vetnosis STORM 2012113

Brazil Ranks #3 in Meat Production Globally(1)

Brazil accounts for 3% of world pork production(1)

●Ranks #4 globally

9.99.0

2011 2020e 2020e2011

14.2

11.7

2020e2011

3.8

3.2

Beef Meat(1)

(mn tons)Chicken Meat(1)

(mn tons)Pork Meat(1)

(mn tons)

Brazil accounts for 11% of world poultry production(1)


Brazil accounts for 14%of world bovine meat production(1)


(1) Vetnosis114

Increase in Production and Yield Improvement Drive Growth of the Production Animal Health Market

2010 2015e 2020e 2010 2015e 2020e

LatAm: Meat Production(1)

(ktons)LatAm: Production Animal Health(1)

(m€)

CAGR +2%CAGR +7%

39,623

1,211

(1) Vetnosis STORM 2012115

Increased Spending Per Head Is The Major Driver of Growth in Production Animal Health in LatAm

3.92

2.35

2011 2020e

6.25

3.63

2011 2020e

Large Animals (Swine & Ruminant)(1)

(€ per Medicalized Treatable Unit)Avian(1)

(€ per 100 x Medicalized Treatable Unit)


Spending Per Head




Agenda


117

The Pet Moves “From the Backyard to the Bed” with Growing GDP per Capita

0

20

40

60

80

100

FRANCE

USA

MEXICO

BRAZILJAPAN

GERMANY

GDP/Capita 2009 (US$)50,00030,00010,000

UK

40,00020,0000

Mature MarketsEmerging Markets

Food Consumption/Pet 2009 (kg)

COLOMBIA

ARGENTINA

Source: Euromonitor 2009118

Substantial Opportunity for Growth as LatAm Markets Spend More on Pets

Animal Health Expenditures per Pet ($)

Latin America Developed Markets

2.1 2.25.2 6.4

20.0

25.6

29.6

34.8

Source: Euromonitor 2009, Vetnosis STORM 2010119

A Fast Growing Companion Animal Health Market

LatAm: Companion Animal Health Market(1)

(€m)

429

2010 2015e 2020e

CAGR +8%

● LatAm Companion Animal Health market is expected to more than double over a 10 year period(1)

● Improvement in the general welfare in LatAm

● Increased spending per pet: “Pet as a family member”

● Brazil represents ~30% of the LatAm companion Animal Health market(1)





Agenda


121

Sustaining Growth, Entering New Markets and Leveraging our Leading Portfolio

● Sustain Avian leadership● Leverage leading vaccines

business● Provide services in a partnership

approach with producers

● Expand ruminants business● Develop new local brands● Enter fast growing categories● Expand into new geographies

● Develop swine via customized vaccine platform from recent Newport acquisition

122

LatAm Production AH

● Steady growth of purchasing power in LatAm to benefit Frontline

● Introduce new parasiticides and vaccines● Increase strength of local portfolio

and defend against generics

● Leverage government partnerships to improve rabies business

● Introduce new therapeutics

LatAm Companion AH

New Initiatives to Capture Growth in Latin America

Creation of a local R&D Center to meet local needs

Establish LatAm headquarters in Campinas, Brazil

Genfar acquisition(1) and Colombia as a new subsidiary

Fully capture potential of Brazil’s Northern & Midwestern regions

123(1) The closing of the transaction is subject to certain conditions precedent and is expected to occur in the first quarter of 2013

Latin America Animal Health – Well Positioned for Continued Strong Growth

● Double-digit LatAm growth for Merial expected over the next few years

● Increasing world protein consumption to fuel Production AH growth

● Increasing welfare of population to drive Companion AH growth

● Geographical expansion through increased investments

● Increase presence in less penetrated regions of major countries

● Create new affiliates in smaller LatAm countries

● Newly established local R&D center will develop local brands

● Leveraging premium brands

● Opportunistic business development transactions

124

Vaccines

125

Patrice Lebrun

Vice President, Latin AmericaSanofi Pasteur

Agenda

126

Sanofi Pasteur - A Well Entrenched Player

Vaccines - A Sizeable and Attractive Market

Dengue - A Significant Opportunity

The Vaccines Market in LatAm is Sizeable

127

Total Population: 596m(2)

Birth Cohort: 10.7m(2)

LatAm Market(1) (1

(1) Sanofi Pasteur internal estimates for market size and growth (2) PAHO Health Situation in the Americas – Basic Indicators 2012

● ~€1.4bn sales in 2011

● +19% CAGR over 2008-2011

● Brazil and Mexico: ~60% of market

● Public market: 75% of sales● Governments increasingly attracted

by innovative products

● Private market for “non-covered” vaccines

● Growing trend towards local production

Market Characteristics(1)

2011 MarketSize: €280m

2011 MarketSize: €590m2011 Market

Size: €520m

Projected LatAm market growth over 2012-17(1): +13% CAGR

Immunization Schedule(2)

Brazil MexicoBCG 0 0

Hep B 0 0, 2, 6m

OPV 6, 15m 3 campaigns per year for 2m – 5y

IPV 2, 4mDTP 15m, 4y 4y

DTP-Hib-HepB 2, 4, 6mDTaP-Hib-IPV 2, 4, 6, 18mPneumo_conj 2, 4, 6, 12m 2, 4, 12m

Rotavirus 2, 4m 2, 4mMR > 13y

MMR 12m, 4y 12m, 6yMenC_conj 3, 5, 15mPneumo 23 > 60y, @risk > 65y

Td >20y, pregTdaP > 12y, preg

Yellow Fever 9m, ev 10y

Influenza 6-24m, > 60y, preg, HCW, @risk

6-59m, > 60y,@risk 11-60y

HPV > 9y

Mexico and Brazil Constitute the Bulk of Market

128(1) Sanofi Pasteur internal estimate (2) As of October 2012

● Mexico and Brazil● 55% of LatAm population● 4.8m birth cohort● Vaccines sales >€800m(1)

● Public immunization programs drive market growth ● Public and industrial partnerships key

for market access● Opportunities with private market● Room for adoption of new and

innovative vaccines and services

● Markets becoming increasingly competitive

Agenda

129

Sanofi Pasteur - A Well Entrenched Player



(1) Sanofi Pasteur internal estimate(2) Including pandemic A(H1N1) Flu vaccines salesPPH – Pertussis, Polio, Hib

Sanofi Pasteur is a Leading Player in LatAm

130

● €374m sales in LatAm in 2011● +14% CAGR over 2008-2011● 2nd player with 29% market share(1)

● 34% of vaccine sales in Emerging Markets

● Brazil and Mexico: 2/3 of sales

● Undisputed position in flu immunization

● Strong positions in pediatric and endemic vaccines

● Industrial presence and strong local partnerships

Others

130

2011 Sales Split by Country2008-2011 CAGR(2)

CAGR +26%

CAGR+11%

CAGR+9%

53%

18%

20%

Brazil

Mexico

Flu

Others

PPH

2011 Sales Split by Product% of Sales

9%Travel & Endemic

Local Industrial Capabilities Providea Strategic Advantage to Sanofi Pasteur

● Hepatitis B antigen for pediatric hexavalent vaccines Hexaxim™ in LatAm and other international markets

● 50m dose capacity● €60m investment

Birmex – Biologics and Reagents Laboratories of Mexico

Pilar, Argentina

Ocoyoacac, Mexico

● Flu vaccines● Up to 25m dose capacity ● €100m investment● 1st lots being shipped for the 2012-13 season● Partnership with Mexican federal vaccine

manufacturer Birmex

131

Brazil Illustrates Strong Track Record of Partnerships with Sanofi Pasteur

132

● Sanofi Pasteur, an historical partner to Brazil public health● Meningitis outbreak (1974)● Yellow fever outbreak (2008)● Pandemic A/H1N1 flu (2009-2010)

● Case-study with Butantan Institute● Goal: building capacity for flu

vaccine production and maintaining reliable and consistent supply

● Partnership with Fiocruz for IPV introduction in NIP in 2012● Opportunity to build long-term

technical and scientific cooperation

Quality control tests

Filled vaccine

Formulated bulk

Blending, filling & packaging

Production technology1st shipment expected in 2013

Partnership with Butantan Step-wise technology transfer process

initiated in 1999-2000

Butantan Institute – Biomedical research center affiliated with the São Paulo State Secretary of HealthFiocruz – Oswaldo Cruz Foundation’s vaccines unit is Immunobiological Institute of Technology (Bio-Manguinhos)IPV – Inactivated Polio Vaccine NIP – National Immunization Program

Support&

Assistance

Sanofi Pasteur Remains the Undisputed Leader in the Rapidly Growing LatAm Flu Market

133

2008 2009 2010 2011

Seasonal Flu Vaccines Sales(in €m)

€197m

€107m

● Seasonal flu sales in 2011: €197m ● >70% market share (public+private)(1)

● Market driven by public policies:● Public market: 70% of sales(1)

● Most countries recommend:children up to 24-36 months and elderly > 60 yrs - Extension expected

● Mexico influenced by U.S. policy

● Private market offers opportunities● IDflu, Private companies, Pharmacies

● Evaluating further opportunities for local partnerships in 2013

(1) Sanofi Pasteur internal estimates

Lead Market Entry of Inactivated Polio Vaccine and Acellular Pertussis Combo Portfolio in LatAm

134

● Major role in the switch from OPV to IPV post-polio eradication● IPV included in the Brazilian national

immunization program as of 2012

● Pentaxim®: 5-in-1 pediatric combo ● Already launched in Mexico and

some other countries● Evaluating local agreements for

broader market access

● Future launch: Hexaxim™, first fully-liquid hexavalent pediatric combo ● Includes Hepatitis B antigen

produced in Argentina (Pilar)

Immunization Rate(1)

(in %)

Pentaxim® – Diphtheria, Tetanus, Pertussis, inactivated Polio, and HaemophilusHexaxim™ – 5 above antigens plus Hepatitis BOPV – Oral Polio Vaccine IPV – Inactivated Polio Vaccine wcP – whole cell Pertussis acP – acellular Pertussis (1) Sanofi Pasteur estimates applicable for birth cohorts in LatAm – Primary series in 3 doses for each antigen.

100%

0%

wcP

acP

OPV

IPV

Pertussis Polio

Private Vaccine Market in LatAmProvides New Growth Opportunities

Evolution of Offering in Brazil

Flu Vaccineindividual companies

1997 2007

Flu Campaign OfferRegional SESI

2012

Services OfferNational SESI

Volumes in SESI 0 0.5md >1 md

SESI – Serviço Social da Indústria (Social Services of the Federation of Industries)(1) OCDE Americas Market Intelligence 2012 135

Middle Class Consumer Spending(1)

(in trillion U.S. $)

$1.5 tr

$3.1 tr

2009 2030

● Solid Private Market evolution● CAGR 2008-2011: +11%

● Growth fueled by rising middle class ● Looking for higher standards of health

● Uncovered teens / adults population reached via new channels

● Emergence of new stakeholders ● Leveraging vaccines as differentiation

(e.g. SESI in Brazil, Pharmacies - Walmart in Mexico & Central America, Locatel in Venezuela, Obras Sociales in Argentina)

● Moving from product sales to vaccination campaign and services

Brazil and Mexico Expected to Remain Largest Opportunities for Sanofi Pasteur in LatAm

136CONAVA – National Vaccination Council

Key countries for potential Dengue vaccine introduction

expected in 2014

● Continuous process of technology transfer for Flu while private Flu market progressively evolves

● Adacel® Quadra launched in 2011● IPV introduction in public market

in 2012● Market entry of Hexaxim™ and

Menactra® expected in 2014

Brazil

● Unique Flu industrial plant in LatAm● Strong performance of Pentaxim®

● Avaxim® : new CONAVA Hepatitis A recommendation in 2010 for at-risk children - Future extension expected

● Adacel® launched in 2012● Multiple new launches expected:● 2013: Tetraxim® and Menactra®

● 2014: Hexaxim™

Mexico

Agenda

137

Sanofi Pasteur - A Well-Entrenched Player



Dramatic Increase in Number of Dengue Caseswith Broad Geographical Expansion

138

< 50

50 - 100

> 100 - 200

> 200

Unavailable data

Without indigenous cases

1990 - 19991980 - 1989

Dengue Incidence, 1980-2010(1)

(per 100,000 by country)

(1) Source: www.paho.org

2000-2009 2010

Dengue Hyperendemic State in LatAmCreates Public Health Concerns

139

Period 80’s 2008-11Dengue cases 1.0m 4.8m

DHF 13.4K 128.7K

DHF as a % of total cases 1.3% 2.7%

Fatalities 242 2,861

Increasing Morbidity and Mortality(1)

PAHO – Pan American Health Organization DHF – Dengue Hemorrhagic Fever(1) San Martin JL et al. Am. J. Trop. Med. Hyg., 82(1), 2010, pp.128-135 for the 80’s, and www.paho.gov for 2008-2011(2) Shepard DS et al. Am. J. Trop. Med. Hyg., 84(2), 2011, 200-207

● Estimated 400m people living in at-risk or endemic areas

● Incidence typically higher in adolescents and young adults ● Trend towards infection in younger

ages

● Dengue seasonality depends on rainy season in each country

● 4 serotypes circulating with epidemiology changes over time

● Public health priority for health authorities and PAHO

Aggregate annual costs in the AmericasEstimated at $2.1 billion for the period 2000-2007

Peak at $3.1 billion in 2007

40% in Brazil alone

Cost of Dengue Illness(2)

Dengue Vaccine: Seeks to Address a Major Threatin LatAm

140

(1) ClinicalTrials.gov Identifier: NCT01374516 ANVISA – National Health Surveillance Agency COFEPRIS – Federal Commission for the Protection against Sanitary RiskINVIMA – National Institute for Drug and Food Surveillance MoH – Ministry of Health

Clinical Program in LatAm(25,000 subjects)

MEXICOPh I, II, III (efficacy, co-administration)

PUERTO RICOPh II, III (efficacy)

BRAZILPh II, IIII (efficacy)

COLOMBIAPh II, III (efficacy)

PERUPh II (co-administration)

HONDURASPh II, III (efficacy)

PANAMA(co-administration)

● Phase III trial ongoing in LatAm(1)

● 21,000 subjects – 23 centers● Efficacy results expected in 2014

● Main channel expected to be the public segment● Significant opportunities in private

markets for “non-covered” age groups

● Regular contact with regulatory agencies● ANVISA (Brazil), COFEPRIS (Mexico)

and INVIMA (Colombia)

● Strong partnerships engaged with health authorities and international organizations (e.g. PAHO)

Multiple Opportunities Exist in LatAm for Future Growth

● Solidify existing businesses

● Introduce new products and indications

● Leverage industrial assets and strong public health relationships

● Partner locally to expand market access

● Secure profitable segments/offer expansion in private market

● Continue market preparation for Dengue

141

Launching Dengue vaccine will be keyto exceeding market growth in next 5 years

Industrial Affairs

François Blanot

Vice President Industrial Affairs, Latin America

142

LatAm Manufacturing Capabilities: a Strategic Advantage

Suzano: A Key Site in LatAm

Agenda

143

Industrial Affairs Are Committed to Support Sanofi’s Strategy in LatAm

SanofiThree Point

Strategy

Grow LatAm presence, a key contributor to Emerging Markets

Focus on growth platforms

Achieve profitable organic growth coupled with bolt-on acquisitions

IndustrialAffairs

Execution

Pro-actively manage industrial network

Constantly adapt to business competitive needs

Support active acquisition policy and Life Cycle Management

1

2

3

1

2

3

144

● State of the art in-house manufacturing

● Wide product portfolio and strong Generics expertise

● Product development capabilities with regional to global potential

● Long-term performance track record of Industrial Operations

● Longstanding industrial presence in LatAm

● Pharma products: 637m(1) units manufactured, 3,350 employees(2)

● Successful Generics integration: Medley, Kendrick

● Merial & Sanofi Pasteur: 20m(3) units and 35m(3) doses respectively, 480 employees in total

Sanofi Benefits from a Strong Industrial Network in LatAm with 10 Plants Dedicated to the Regional Market

Mirador

Guarenas

Cali

Brasilia

Our strengths

Broad industrial footprint

Sanofi Pharma plant

Regional Headquarters

Sanofi-Pasteur plant

Merial plant

Industrial hub

Pilar

Industrial Network

145

95% of Pharma volumes sold in LatAm are produced locally(1) 2011 figures, excluding external manufacturing(2) Figures as of September 2012(3) 2011 figures and estimated 2012 production for Ocoyoacac Vaccines

Ocoyoacac

CampinasPaulinia

SuzanoSao Paulo

Our Pharma Industrial Network Is Tailored to Regional Business Needs

(1) LatAm Pharmaceutical Markets ranking 2011, in Units, source IMS MIDAS 146

CountryRank (1)Site

Suzano

Campinas

Production split

Ocoyoacac

Textitlan

Mirador

Guarenas

Cali

980

550

225

190

110

230

Headcount Markets supplied by the plants

Brazil (95%)

Other LatAm countries (5%)

Mexico (90%)


Argentina (96%)2/3 Sanofi, 1/3 toll-in


Colombia (73%)


Venezuela (99%)


1

2

3

4

5

920

Industrial Capacities Strengthened by Recent Bolt-on Acquisitions and Pro-active Plant Management

Year 2008 2009 2010 2011 2012 2013e

147

Ocoyoacac P(1)

Suzano

Cali

Guarenas

Pilar

Brasilia

Textitlan

Campinas

Sumaré

Mirador

Ocoyoacac V(2) Paulinia

Campinas

Mirador

Ocoyoacac P

Ocoyoacac V

Suzano

Cali

Guarenas

Pilar

Paulinia

5

+ 3

+ 2+ 1

12

- 2

Textitlan

Sumaré

Acquired companies

Built capacities

Existing network

Genfar(3)

Share of

production

outsourced

Industrial

network in

LatAm

(1) Ocoyoacac Pharma(2) Ocoyoacac Vaccines(3) The closing of the transaction is subject to certain conditions precedent and is expected to occur in the first quarter of 2013(4) 2012e

Increased capacity allowed to reduce outsourcing and to manage rapid volume growth

(4)

148

Double-Digit Growth in Pharma Production Supports Dynamic Local Sales Growth

Pharma Sales Growth in LatAm (€m) Volume Growth produced in LatAm (Mu)

Key Answersto Production Growth needs

Acquisition and successful integration of targets2009: Medley, Kendrick2010: Mirador site2012: Genfar(1)

Consistent investments to increase capacity and launch new products€110m(2) of cumulative Capex 2008-2011

Increased industrial productivity through LEAN manufacturing implementation

CAGR 25 %

(1) The closing of the transaction is subject to certain conditions precedent and is expected to occur in the first quarter of 2013(2) At CER, 2011 exchange rate

1,516 1,6332,134

CAGR 18 %

2,490

● Two sites dedicated to regional market and emerging countries

● Take advantage of regional footprint

● Foster market access

● Invest in new facilities

● Leverage the Group’s industrial presence

LatAm industrial strategy

● One site providing a competitive export platform

● To supply regional market with vaccines

● To fuel global needs in pharma products

● To source innovative soft chewable galenic forms

● Seize external growth opportunities

LatAm industrial strategy

Animal Health and Vaccines Industrial Networks Align with Merial and Sanofi Pasteur Strategies

Industrial network in LatAm

SiteProduction

splitHC(1)Markets supplied

Capacity(m doses)

100Ocoyoacac 25 Influenza Mexico

80Pilar 50 Hepatitis International markets

Industrial network in LatAm

ANIMAL HEALTH VACCINES

SiteProduction

splitHC(1)Markets supplied

VolumeIn m units

300Paulinia 20

LatAm markets for vaccines

Worldwide for pharma

149(1) Headcount

Local Industrial Presence in Main LatAm Markets Remains Key to our Commercial Success

Well adaptedto localmarketfeatures

Foster market access conditions• National regulations and institutional buyers support local production• Lower tariffs and import restrictions inside free trade areas

Mitigate currency risks

Manage portfolio diversity and customer alignment

Adapt quickly to market changes and demands

Expand regional portfolio and implement local LCM• CHC and nutraceuticals

150

151

Pharma Industrial Affairs Manages a Diverse Portfolio in LatAm with Competitive CoGS

Sanofi pharma Industrial Affairs LatAm positioning

100

500

6570

125

15

500

Barriers to entry CostsTechnology Portfolio Complexity

Main Competitors Commodities companiesBig Pharma Local to Regional players

Type of

drugs

RxOTC

GxPublic tenders

Production

costs of

products

0

LatAm volume

distribution

● Global Industrial KPI Scorecard enforced

LEAN implementation●LEAN culture propagated in plants

● LEAN leaders

●LEAN tools implemented with high commitment from operators

● SMED(1), Visual Management

●Rethinking of production lines through Value Stream Mapping

● Overall Equipment Efficiency (OEE) on track to increase 9 pts 2010-2012

● Optimizing investments through productivity improvements

● Managing high capacity loads

● Plant Cycle Time and Work In Progress reduced

152

Industrial Affairs are Driven by Continuous Search for Improved Performance

Initiatives enforced Key results achieved

Format and packaging harmonization ● Permanent efforts of standardisation between

operations and Industrial Affairs

Better stock management● From local suppliers to local markets to minimize

cashflow

Standardization of policies

(1) SMED: Single Minute Exchange of Die

Generics Are Expected to Remain a Key Growth Driver in LatAm

Campinas

Brasilia


● Move to Generics executed through acquisitions

● Acquisition of Medley and Kendrick● Strong brand image of Medley

among patients

● New industrial capabilities

● Synergies delivered, e.g. with manufacturing repatriation of Kendrick products from Textitlan

● Further expansion ongoing with Genfar(1) acquisition

● New Brasilia plant construction to focus on fast-growing hormonal segment● Low competition

● Double-digit growth

Genfar(1) Acquisition Strengthens Sanofi Leadership in Affordable Pharmaceuticals

● Creation of a new industrial hub in Colombia

● Sanofi: one existing highly competitive manufacturing site in Cali

● Diversified production fueling both local and export markets (Central America and Venezuela)

● Genfar(1): a large and extensible asset ● 2 sites: Bogota and Villa Rica● 80,000 m2 with current capacity of

150 Mu● Extension capabilities above 100 Mu

Genfar

Affordable pharmaceuticals Animal Health


LCM department as a catalyst for new product development

Innovative Life Cycle Management Team Supports Sanofi’s Growth Platforms

Launched June 12

Launched June 12

Launched March 12

155

LCM in Latin America

● LCM department created in 2009 in LatAm to:

● Foster innovation in pharma products

● Optimise time-to-market● Mutualize expertise

● 150 people in 4 plants with different focus ● CHC: Suzano, Ocoyoacac● Generics: Campinas, Cali

Recent Launches

LatAm Manufacturing Capabilities Provide Sanofi with a Strategic Advantage

Industrial Network SupportsGrowth

Platforms

State of the art facilities aligned with Sanofi manufacturing standards

Local manufacturing to foster market access

Double-digit production growth to meet strong demand

Continuous productivity efforts to provide affordable medicines

Innovative LCM to boost sales growth and build profitable franchises

1

2

3

4

5

156

LatAm Manufacturing Capabilities: a Strategic Advantage

Suzano: A Key Site in LatAm

Agenda

157

Suzano Ranks Among the Largest Plants of the Group

Suzano strengths

● Productivity in line with Sanofi’s best sites

● Outstanding customer-service track record

● Product development capabilities with regional potential

● Strong focus on sustainable performance

● Wide range of galenic forms

A diversified portfolio manufactured at competitive costs

158

4 types of Galenic forms(1) 4 market segments(2) Emphasis on local market(1)

(1) 2011 figures(2) 2011 figures, excluding toll-in

Suzano Produces LatAm Star Products in All Market Segments

159

Ethical drugs Customer Health Care and OTC

Affordable medicines

Drops

Tablets Drops

Capsules Liquid SoapCreams

SprayTablets

Quality is a

core value

Quality brings a competitive advantage to Industrial Operations• Dedicated to patient safety and customer satisfaction

Quality is a strong driver of performance• Only one batch rejected out of more than 5,000 tested(1)

• Right First Time at 99%(1)

HSE(2)

is a mindset

HSE is a daily concern for each employee• Zero LTI(3) in Suzano for the past two years

Energy efficiency leads to financial savings• New boilers, LED technology…

Suzano is Designed According to Sanofi Manufacturing Standards

Suzano combines competitiveness with the highest standards of Quality and HSE

160

(1) 2012 YTD figures at September end(2) Health Safety & Environment(3) LTI: Lost Time Injury

Suzano Effectively Contributes to Sanofi Growth Platforms

Development center: strong focus on Growth Platforms

161

(1)

(1) Hours spent on projects by Suzano development center in 2011(2) June 2012: base value of 100 -volume-

Example of LCM impulsed by Suzano: Dermacyd (CHC)

New scentDermacyd

Breeze

100(2)

30

New formula

Dermacyd Infantil

Newformula

Dermacyd Teen

Launch LactacydCentral America

New format

DermacydPocket

2008 20122009 2010 2011

New formula

Dermacyd 24H

Fueling LatAm star CHC products

Improvement of industrial processes,

Formulations, Packaging

Ethical drugs,Generics,

Access to Medicine

Suzano Combines Operational, Financial and Environmental Performance

HSE initiatives examplesLEAN initiative example

162

SMED(1) on Puran packaging line

● Two workshops organised with operators ● Team training on LEAN tools● Movie analysis● Creation of a check-list● Visual Management to monitor

performance

● Quick and sustainable results● OEE(2) : +33%● Change-over time: -47%

● On-demand steam boilers ● New air compressors● HVAC(3) rest-mode● Chillers efficiency increase

● Suzano HSE(4) commitment is recognised by international standards● ISO 14001● OHSAS 18001

Production Cost

per Unit

(1) SMED: Single Minute Exchange of Die(2) OEE: Overall Equipment Efficiency (3) HVAC: Heating Ventilation & Air Conditioning

100(5)

70

(4) Health Safety & Environment(5) 2010: base value of 100, in local currency

2012e2010 2011 2013e

ExpectedCost

Improvements

-29%(2010-2013e)

Documents

2012 - IR - LatAm