Regeneron Pharmaceuticals Investor Presentation — January 2017

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JANUARY 2017 G R O W T H T H R O U G H I N N O VAT I O N

L E O N A R D S . S C H L E I F E R , M . D . , P H . D .

P R E S I D E N T A N D C H I E F E X E C U T I V E O F F I C E R This presentation includes forward -looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual

events or results may differ materially from these forward -looking statements . Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to

identify such forward -looking statements, although not all forward -looking statements contain these identifying words . These statements concern, and these risks and uncertainties include, among others, the nature, timing, and

possible success and therapeutic applications of Regeneron's products, product candidates, and research and clinical programs now underway or planned, including without limitation EYLEA®(aflibercept) Injection, Praluent®

(alirocumab) Injection, Dupixent® (dupilumab), sarilumab, fasinumab, REGN 2222 , Regeneron’s earlier -stage product candidates, Regeneron’s immuno -oncology program, and the use of human genetics in Regeneron’s

research process ; the extent to which the results from Regeneron’s research programs or preclinical testing may lead to advancement of product candidates to clinical trials or therapeutic applications ; unforeseen safety issues

resulting from the administration of products and product candidates in patients, including serious complications or side effects in connection with the use of Regeneron’s product candidates in clinical trials ; the likelihood and

timing of possible regulatory approval and commercial launch of Regeneron's late-stage product candidates and new indications for marketed products, including without limitation EYLEA, Praluent, dupilumab, sarilumab,

fasinumab, and REGN 2222 ; ongoing regulatory obligations and oversight impacting Regeneron’s marketed products (such as EYLEA and Praluent), research and clinical programs, and business, including those relating to

patient privacy ; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron’s products and product candidates ;

competing drugs and product candidates that may be superior to Regeneron’s products and product candidates ; uncertainty of market acceptance and commercial success of Regeneron’s products and product candidates ; the