Regeneron Pharmaceuticals Investor Presentation — September 2022

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This non -promotional presentation is intended for the investor audience and contains investigational data as well as forward -looking statements; actual results may vary materially.This presentation includes forward -looking statements that involve risks and uncertainties relating tofuture events and thefuture 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 and

uncertainties include, among others, theimpact ofSARS -CoV-2(thevirus thathascaused theCOVID -19pandemic) onRegeneron'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 orlicensees (collectively, "Regeneron's Products"), and theglobal economy ;thenature, timing, and possible success and

therapeutic applications ofRegeneron's Products, product candidates being developed byRegeneron and/or itscollaborators orlicensees (collectively, "Regeneron Product Candidates") and research and

clinical programs now underway orplanned, including without limitation Libtayo®(cemiplimab )(asmonotherapy orincombination with certain Regeneron Product Candidates discussed orreferenced inthis

presentation orother therapies), odronextamab (aCD20xCD3bispecific antibody), ubamatamab (aMUC 16xCD3bispecific antibody), REGN 5093 (aMETxMET bispecific antibody), andother Regeneron Product

Candidates discussed orreferenced inthispresentation ;uncertainty oftheutilization, market acceptance, andcommercial success ofRegeneron's Products andRegeneron Product Candidates andtheimpact

ofstudies (whether conducted byRegeneron orothers andwhether mandated orvoluntary), including thestudies discussed orreferenced inthispresentation, onanyoftheforegoing oranypotential regulatory

approval ofRegeneron's Products andRegeneron Product Candidates ;thelikelihood, timing, andscope ofpossible regulatory approval andcommercial launch ofRegeneron Product Candidates andnew

indications forRegeneron's Products ;thelikelihood andtiming ofachieving anyoftheanticipated milestones described inthispresentation ;theextent towhich theresults from theresearch anddevelopment