In order to facilitate an understanding of our operational performance, we comment on our business net income statement. Business net income1 is
a non-GAAP financial measure. The consolidated income statement for 2010 is provided in Appendix 8. A reconciliation of business net income to
consolidated net income is provided in Appendix 7. Consolidated net income in 2010 was €5,467 million, compared with €5,265 million in 2009.
Consolidated earnings per share in 2010 was €4.19 versus €4.03 in 2009.

Commenting on the Group’s performance in 2010, sanofi-aventis Chief Executive Officer, Christopher A. Viehbacher said, “2010
was the first year in which the patent cliff really became visible with generic competition for several of our products, notably
Lovenox® in the U.S. However, we have delivered another year of EPS growth due to the excellent performance of our growth
platforms, which now account for 54% of sales, and tight cost control. In 2010, these growth platforms accounted for more than €16
billion in sales, an increase of 12.5%, constituting a solid basis for the mid and long term development of our company.”

2010 Performance
Overall sales2 decline of 0.8%, demonstrated resilience despite the impact of U.S. healthcare reform, EU austerity
measures, and more than €2 billion of sales lost as a result of generic competition
Emerging Markets3 generated in excess of €9 billion in sales (+16.3%), accounting for 29.9% of total sales and is now
the largest contributor to Group sales by region
The Consumer Health Care (€2,217 million in sales, +45.7%) and Generics (€1,534 million in sales, +41.5%) businesses
continued their strong growth trend supported by bolt-on acquisitions
The vaccines business had a record year with sales of €3,808 million, driven by a strong performance of seasonal flu
vaccines which grew 33.3%; pandemic flu vaccines also contributed €452 million
Diabetes sales reached €4,298 million (+9.2%); penetration of Lantus®SoloSTAR® significantly increased and accounted
for 40.2% of total Lantus® franchise sales in the U.S. in Q4 2010
Jevtana® exceeded the Group’s expectations with U.S. sales of €82 million, while Multaq® recorded sales of €172 million
in its first full year
Business EPS1 grew 6.8% in 2010 on a reported basis and 2.6% at CER
Free cash flow4 increased by 26.7% to €9,416 million
Proposed dividend of €2.50 (versus €2.40 paid in 2010), with an option for payment in shares
Transformation Program
Cost savings are progressing faster than expected; cost savings of €1.3 bn5 were achieved in 2010 and the original goal of €2 billion5 (initially expected to be achieved in 2013) will now be reached in 2011, with significant reallocation of resources toward growth platforms Phase III studies are expected to be reported in 2011 for 5 compounds FDA approval was recently obtained for Allegra® OTC with an expected launch in March

2011 Guidance
Despite the absence of A/H1N1 vaccines sales and the impact of generic competition, double digit sales increase6 of growth platforms and cost control should lead to 2011 business EPS1 5% to 10% lower at CER than 2010 business EPS7, barring major unforeseen adverse events. This guidance does not assume a return of generics of Eloxatin® in the U.S. and does not include any benefit from a possible acquisition of Genzyme.
(1) See Appendix 11 for definitions of financial indicators; (2) Growth in net sales is expressed at constant exchange rates (CER) unless otherwise indicated (see Appendix 11 for a definition); (3) See definition on page 8; (4) before restructuring costs, dividend payments and acquisitions; (5) at CER, before inflation and on a constant structure basis (6) at CER; (7) €7.06; see Appendix 11 for a definition.
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