The principal related parties are companies over which Sanofi has control or significant influence, joint ventures, key

Sanofi has not entered into any material transactions with any key management personnel. Financial relations with Sanofi’s

principal shareholders fall within the ordinary course of business and were immaterial in the years ended December 31, 2024,

Note F.1. lists the principal companies controlled by Sanofi; those companies are fully consolidated, as described in Note B.1.

Transactions between those companies, and between the parent company and its subsidiaries, are eliminated when preparing

Transactions with companies over which Sanofi has significant influence, and with joint ventures, are presented in Note D.6.

Key management personnel include corporate officers and the members of the Executive Committee (an average of 13 members

The table below shows, by type, the compensation paid to key management personnel:


(€ million)	2024	2023	2022
Short-term benefits(a)	37	36	31
Post-employment benefits	2	2	2
Share-based payment	21	8	19
Total recognized in profit or loss	60	46	52

(a)Compensation, employer’s social security contributions, directors’ compensation, and any termination benefits (net of reversals of termination benefit

The table below shows the aggregate obligation as of December 31 for each period presented for individuals who hold or have

held executive positions within Sanofi during that period.


(€ million)	2024	2023	2022
Aggregate top-up pension obligation in favor of certain corporate officers and of Executive Committee members	9	10	10
Aggregate termination benefits and lump-sum retirement benefits in favor of key management personnel	7	6	5