Regeneron Pharmaceuticals Investor Presentation — June 2021

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2021 ANNUAL SHAREHOLDER MEETING

CONFIDENTIALJ u n e 1 1 , 2 0 2 1Note Regarding Forward -Looking Statements & Non -

GAAP Financial Measures

2This presentation includes forward -looking statements thatinvolve risks anduncertainties relating tofuture events andthefuture performance ofRegeneron Pharmaceuticals, Inc.(“Regeneron” orthe“Company”), andactual events orresults may

differ materially from these forward -looking statements .Words such as“anticipate,” “expect,”“intend,”“plan,”“believe,”“seek,”“estimate,” variations ofsuch words, andsimilar expressions areintended toidentify such forward -looking statements,

although notallforward -looking statements contain these identifying words .These statements concern, andthese risks anduncertainties include, among others, theimpact ofSARS -CoV-2(the virus that hascaused theCOVID -19pandemic) on

Regeneron’s business anditsemployees, collaborators, andsuppliers andother third parties onwhich Regeneron relies,Regeneron’s anditscollaborators’ ability tocontinue toconduct research andclinical programs, Regeneron’s ability tomanage

itssupply chain, netproduct sales ofproducts marketed orotherwise commercialized byRegeneron and/or itscollaborators (collectively, "Regeneron’s Products"), andtheglobal economy ;thenature, timing, andpossible success andtherapeutic

applications ofRegeneron’s Products andproduct candidates being developed byRegeneron and/or itscollaborators (collectively, “Regeneron’s ProductCandidates”) andresearch andclinical programs now underway orplanned, including without

limitation EYLEA®(aflibercept) Injection, Dupixent®(dupilumab ),Libtayo®(cemiplimab), Praluent®(alirocumab), Kevzara®(sarilumab ),EvkeezaTM(evinacumab ),InmazebTM(atoltivimab ,maftivimab ,andodesivimab -ebgn ),REGEN -COV™ (casirivimab

andimdevimab ),fasinumab, garetosmab ,pozelimab ,odronextamab, itepekimab ,REGN 5458 ,REGN 5713 -5714 -5715 ,Regeneron’s other oncology programs (including itscostimulatory bispecific portfolio),Regeneron’s anditscollaborators’ earlier -

stage programs, andtheuseofhuman genetics inRegeneron’s research programs ;safety issues resulting from theadministration ofRegeneron’s Products andRegeneron’s Product Candidates inpatients, including serious complications orside

effects inconnection with theuseofRegeneron’s Products andRegeneron’s Product Candidates inclinical trials ;thelikelihood, timing, andscope ofpossible regulatory approval andcommercial launch ofRegeneron’s Product Candidates andnew

indications forRegeneron’s Products, including without limitation those listed above ;thelikelihood and timing ofachieving anyoftheanticipated milestones described inthispresentation ;theextent towhich theresults from theresearch and

development programs conducted byRegeneron and/or itscollaborators may bereplicated inother studies and/or lead toadvancement ofproduct candidates toclinical trials, therapeutic applications, orregulatory approval ;ongoing regulatory