Regeneron Pharmaceuticals Investor Presentation — June 2019

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J UNE 2 0 1 92NOTE REGARDING FORWARD -LOOKING STATEMENTS

AND NON -GAAP FINANCIAL MEASURES

This presentation includes forward -looking statements that involve risks and uncertainties relating to future events and the fut ure 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 statem ents 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 Regen eron’s products, product candidates, and research and clinical programs now

underway or planned, including without limitation EYLEA® (aflibercept) Injection, Dupixent ® (dupilumab ) Injection, Praluent ® (alirocumab) Injection, Kevzara ® (sarilumab ) Injection, Libtayo ® (cemiplimab)

Injection, fasinumab , evinacumab , Regeneron’s immuno -oncology programs (including its costimulatory bispecific portfolio), Regeneron’s earlier -stage product can didates, and the use of human genetics in

Regeneron’s research programs; 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, incl uding 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 l aunch of Regeneron’s late -stage product candidates and new indications for

marketed products, including without limitation EYLEA, Dupixent , Praluent , Kevzara , Libtayo , fasinumab , and evinacumab ; the likelihood and timing of achieving any of the anticipated milestones described in

this presentation; the extent to which the results from the research and development programs conducted by Regeneron or its c ollaborators may be replicated in other studies and lead to therapeutic

applications; ongoing regulatory obligations and oversight impacting Regeneron’s marketed products (such as EYLEA, Dupixent , Praluent , Kevzara , and Libtayo ), research and clinical programs, and

business, including those relating to patient privacy; determinations by regulatory and administrative governmental authoriti es which may delay or restrict Regeneron’s ability to continue to develop or