2021 Investor and Analyst Day

June 3, 2021

Disclaimer

This document has been prepared by GRIFOLS, S.A. (GRIFOLS or the "Company") exclusively for use during the 2021 Investor and Analyst Day on June 3, 2021. Therefore it cannot be disclosed or made public by any person or entity with an aim other than the one expressed above, without the prior written consent of the Company. The Company does not assume any liability for the content of this document if used for different purposes thereof. The information and any opinions or statements made in this document have neither been verified by independent third parties nor audited; therefore no express or implied warranty is made as to the impartiality, accuracy, completeness or correctness of the information or the opinions or statements expressed herein. Neither the Company, its subsidiaries nor any entity within the GRIFOLS group or any subsidiaries, the company's advisors or representatives assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents. Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.

IMPORTANT INFORMATION

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law (Royal Legislative Decree 4/2015, of 23 October, as amended and restated from time to time), Royal Decree 1310/2005, of November 4, and its implementing regulations. In addition, this document does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities, nor a request for any vote or approval in any other jurisdiction.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking information and statements about GRIFOLS based on current assumptions and forecast made by GRIFOLS management, including pro forma figures, estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to capital expenditures, synergies, products and services, and statements regarding future performance. Forwardlooking statements are statements that are not historical facts and are generally identified by the words "expected", "potential", "estimates" and similar expressions.

Although GRIFOLS believes that the expectations reflected in such forward-looking statements are reasonable, various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the Company and the estimates given here. These factors include those discussed in our public reports filed with the Comisión Nacional del Mercado de Valores and the Securities and Exchange Commission, which are accessible to the public. The Company assumes no liability whatsoever to update these forward-looking statements or conform them to future events or developments. Forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of GRIFOLS.

2021 Investor and Analyst Day

Agenda

Investor & Analyst Day June 21

Introductory Remarks

Building Upon Our Core Commitments

Raimon Grífols – Co-CEO

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Grifols Proved Its Resilience and Commitment in 2020 by...

Overcoming adversity and adapting to change

2020

Expressing our gratitude to our 24,000 employees for their commitment and dedication

Strengthening our commitment to patients by ensuring continuous delivery of their treatments

Recognizing more than ever the generosity of donors for their ongoing contribution toward enhancing people's health and well-being

Driving our expansion plan and helping countries achieve plasma self-sufficiency

Accelerating our efforts to innovate

…and Doubling Our Efforts in Three Core Areas

2020: Emphasizing the Importance of Plasma

A Global Model of Sustainable Plasma

Only 29% of countries obtain their hemoderivatives through nationally collected plasma (WHO)

Since 2010 global plasma collections are growing but U.S. dependency has also been increasing (MRB)

In 2019, 68% of total plasma collected comes from U.S. (from the 57% in 2010) (MRB)

In Europe, self-sufficiency levels short fall by 40% (1)

Plasmatology

First Scientific Journal Dedicated to Plasma Science

Plasmatology aspires to become a scientific point of reference in the field of plasma science

It gathers all research, from basic research to clinical application

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Strengthening Our Fundamentals

Efforts to Secure Plasma Supply and Promote Our Innovation Strategy

Grifols Continues Its Path of Sustainable Growth

Global Century-Old Company Built On Strong Values and Ethical Principles

Sustainability: A Strategic Pillar

Reinforcing Our Governance and Sustainability Strategy

Creation of…

Sustainability Committee

Establish the core environmental, social and governance principles and commitments in our business model
Oversee the integration of financial and non-financial information in our ESG initiatives

Sustainability Policy

… to continue driving our sustainability strategy

Grounded on 4 pillars

Integrated in our corporate strategy

Investor & Analyst Day June 21

Plasma Supply and Manufacturing

Accelerating the Execution of Our Expansion Plan

Eduardo Herrero – President, Bioscience Industrial Group

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Investor & Analyst Day June 21

Plasma Operations 1

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Key Drivers to Support Further Growth Plasma Supply: Leveraging Grifols' Competitive Advantage

Strengthening a global plasma-center network to ensure plasma supply and promote long-term sustainable growth

2021 Investor & Plasma Supply: Leveraging Grifols' Competitive Advantage

Multilevel Strategy to Increase Plasma Supply

Analyst Day June 21

U.S. and European Plasma Collections in 2021

Solid Rebound in Germany. Steady Recovery in U.S. Since April

Exhaustive safety measures to reduce donor fear factor have contributed to collections recovery
Global plasma awareness, acquisitions and donor marketing and recruitment campaigns have attracted new donor profiles
Plasma supply has been supported by acquisitions, new center openings and contracts negotiations

2021 Investor & Analyst Day June 21

Analyst Day June 21 Strengthening Grifols' Plasma-Center Network

Diversification Plasma Center Capacity Business Optimization

Advancing the Execution of the Expansion Plan

Execution plasma expansion plan since 2016
Number of plasma centers have duplicated over the last 5 years and continue to grow
More than 500 centers by 2025
Expansion and diversification plans are ambitious and represent one of Grifols' main priorities in plasma supply
Third-party supply agreements in the EU and U.S. to secure additional reliable plasma source

Global Footprint to Support Sustainable Growth

Expanding and Diversifying Grifols' Presence

Diversification Plasma Center

Business Optimization

Capacity

Global Footprint to Support Sustainable Growth

Expanding and Diversifying Grifols' Presence

Diversification Plasma Center

Business Optimization

Capacity

Global Footprint to Support Sustainable Growth Diversification Plasma Center

Capacity Business Optimization

Expanding and Diversifying Grifols' Presence

Recent Plasma Supply Transactions

43 Plasma Centers Across 13 States 7 Plasma Centers in Hungary

Grifols continues to expand and diversify its U.S. based plasma-center network

Leveraging mature and licensed centers leads to an immediate increase in plasma supply

Through these acquisitions, Grifols broadens its footprint to new states and regions

Grifols continues to expand and diversify its access to European plasma adding plasma centers from Hungary

This transaction strengthens Grifols' leadership in Europe in terms of geographic scope and use of EU-approved plasma

Global Footprint to Support Sustainable Growth

Diversification Plasma Center Capacity Business Optimization

Expanding and Diversifying Grifols' Presence

Plasma Centers	CHINA	SRAAS
Operating	270 (1)	38 (3)
Under Construction	20 (2)	3
Total	290	41

Bolster presence in the Middle East and Africa

Access to new sources of plasma to reduce dependency on U.S. plasma

20 plasma collection centers (1ML/year)

Manufacturing facilities:

Fractionation plant (1ML/year Capacity)
Purification and fill-and-finish plant
Plasma and final-product warehouse
Plasma and product quality control lab

Source: Reports released by manufacturers. Updated on Apr. 26, 2021
(1)Includes 26 branch centers; (2) includes 2 branch centers; (3) includes 1 branch center

2021 Investor & Analyst Day

June 21

Global Footprint to Support Sustainable Growth

Diversification Supports Business Continuity

450 Plasma Centers¹ Grifols Global Presence by 2022 Strategy

USA EU China Egypt

Global footprint and global expansion
Diversification by:
Opening plasma donation centers in new countries
Strategic alliances
Joint ventures
Organic and inorganic growth
New market opportunities
Increasing presence in the US by acquisitions and new centers

Analyst Day

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Leveraging Technology to Optimize Efficiencies

Digital Transformation

Investor & Analyst Day June 21

Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Integrated Technology to Enhance Donor Experience

Information from nearly 1 million active donors

Plasma-center personnel engage with donors

in Donor Hub

to donors

+13 million emails

Over 220K donors registered

Grifolsplasma.com

Automated marketing campaigns and multiple digital and tech tools

+100k text messages and push notifications sent

Business Optimization

• More new donors

Capacity

Increasing plasma donations
Loyalty and satisfaction
Diversification
Process efficiency
Greater awareness and education
Reliable and intuitive process

Analyst Day June 21

Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Capacity

Process Enhancement

Grifols' own production anticoagulant sodium citrate is being rolled out in Grifols' plasma-center network
Grifols 0.9% sodium chloride is being used in own plasma-centers network

One Grifols Fleet Management

Plans to open concept centers in new areas in 2021 and beyond
Establish Grifols' standards in acquired centers and increase average volume

Testing Optimization Talent Development

Grifols' lab testing capacity aligned to support growth (36M+ samples in 2023)
All U.S. NAT test labs in GDS
Efforts to optimize testing to increase yield (2ml/donation)
Significant reduction test turn-around times (~48 hrs)
Academy continues to deliver virtual programs during Covid-19
300+ graduates from Academy's leadership development program
19,000+ eLearnings and 30,000 training hours since the establishment of the Academy (2009)

Analyst Day June 21 Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Digital Transformation

Logistics Management System Grifols Testing Lab System

New enhanced global plasma management system to benefit all Grifols Plasma Logistics centers
Process optimization and greater efficiencies by scaling it up across all centers

Capacity

Business Optimization

Consolidate all plasma laboratory screening processes into one new corporate/global laboratory information management system
This global system will cover endto-end plasma laboratory processes

Grifols Navigation System Artificial Intelligence

Grifols' own donor center software management system
Manages donor center activities such as donor and unit suitability and shipments
Establish optimal levels of commitment compensation based on analytics and market environment
Leveraging AI tools to set an adequate volume of plasma donations to meet future demand

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Analyst Day June 21

Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Expected Improvements Derived From Business Optimization

Capacity

Business Optimization

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Analyst Day June 21

Donor Commitment Compensation Impact

Capacity Optimization

Business

Leveraging Other Costs

Donor Commitment Compensation

Donor commitment compensation increased in 2020 to recognize donor loyalty, COVID-19 challenges and better compete in the current plasma market

Compensation increase does not imply the same increase on total cost due to the weight of different drivers

Donor commitment compensation represents ~25% of total CPL

Grifols leverages other costs in 2021 to partially offset the donor commitment compensation levels

Donor Commitment Compensation Other Operating Costs

Investor & Analyst Day June 21

Manufacturing 2

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Analyst Day June 21

Inventory Levels to Rebound in 2H 2021 Efficient Inventory Management Ensured Ongoing Operations

Thanks to strong inventory management policies, Grifols was able to build a significant stockpile of the main 4 proteins and plasma over the last 4 years and partially offset the 2020 impact

This position ensures product delivery by enabling an agile response to market variability and uncertainties

Inventory levels are expected to grow by the end of 2021

2021 Investor & Strong Inventory Position and Efficient Supply Chain

Operations Supports Product Delivery

Filling vials per year has been on the rise since 2017
This trend is evidence of the robust inventory management in place
Packaging vials per year has increased since 2017
Trend continues to show strong growth

Analyst Day June 21

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Digital Transformation 2019-2023

End-to-End Integrated Planning (E2E)

▪ Supply chain improvement through coordination and automation of the process

Electronic Batch Record (EBR)

▪ Electronic batch record with workflow enforcement, electronic workflow for approval of batch documentation (paperless)

Plant Information (PI)

▪ Capture information across the whole site, real-time visibility across production lines

Virtual Reality

▪ Virtual reality to support industrial processes including training and virtual tours

Artificial Intelligence¹

▪ Application of AI-based behavioral models and supercomputing designs to increase yield in all steps of downstream

Accelerating the Execution of Our Expansion Plan Key Takeaways

Grifols continues to reinforce its global plasma-center network to secure plasma supply and support long-term sustainable growth

Grifols advances the execution of its plasma expansion and plan through diversified organic and inorganic growth, as well as optimized efficiencies

Business optimization thanks to technology enhancements including digitalization and a fully integrated supply chain

Innovation-led improvements will drive growth of plasma supply

Robust inventory management has ensured essential product deliveries and greater efficiencies

Solid recovery expected throughout 2021

Investor & Analyst Day June 21

Innovation Strategy

Expanding Our Reach: Disease Management Beyond Plasma-Derived Therapies

Albert Grífols Coma-Cros – Chief Scientific Innovation Officer Karoly Nikolich – Alkahest's CEO José Terencio – VP Innovation Joana Sàbat – VP Bioscience Global Marketing Antonio Martínez – President Diagnostic Scientific & R&D

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Investor & Analyst Day June 21

Accelerating Grifols' Innovation Through A New Leadership

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Expanding Grifols' Global Innovation Footprint

Setting Three Large Hubs

last 3 years

Grifols' Therapeutic Areas and Platforms

A Pioneering Ecosystem to Promote Knowledge and New Opportunities

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Scientific Innovation Office

Integrating Internal and External Innovation

Vicente Blanquer VP R&D & Regulatory affairs

Karoly Nikolich CEO Alkahest

José Terencio VP Innovation, Grifols Innovation and New Technologies (GIANT)

Eva Bastida VP Scientific & Medical Affairs

Matt Murawski VP Bioscience/ Diagnostic Scientific Development

Séamus McCooey Director Global Intellectual Property

Grifols' Innovation Ambition

Sizable, Diversified, Steady Revenue Contribution

Investor & Analyst Day June 21

Grifols' Innovation Ambition

Sizable, Diversified, Steady Revenue Contribution

Investor & Analyst Day June 21

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A Pipeline to Achieve a Risk-value Balanced Portfolio

Delivering A Comprehensive Pipeline to Support Our Patients

	Discovery	Pre-Clinical	Phase 1	Phase 2	Phase 3	Phase 4 / Regulatory	LCM
Immunology	2 GRI programs 1 GIGA program	rSCIG Spike in PdIG with enriched libraries (PID)		SCIG/IVIG SIDs-CLL	IVIG-PEG	Xembify® Europe Xembify® Bi-weekly dose	Xembify® Prefilled syringes
Hepatology	2 GRI programs				Albumin 20% ACLF (APACHE) Albumin 5% Decompensated Cirrhosis (PRECIOSA)		FlexBag® US FlexBag® EUR
Pulmonology		Alpha-1 AT Non-cystic fibrosis bronchiectasis		Alpha-1 AT 15% (SC) AAT deficiency		Prolastin-C® EUR (SPARTA)	Prolastin® EU 4-5gr vials
Haematology	2 GRI programs	ATIII New indication Fibrinogen Acquired Deficiency			Fostamatinib*** AIHA indication Fibrinogen Congenital Deficiency and severe hypofibrinogen
Ophthalmology / Others	6 GRI programs 3 ALK programs 2 GIGA programs	GIGA 564 Anti-CTLA-4 Oncology		AKST4290 & DR	Fibrin Sealant Biosurgery pediatric Use
Infectious Diseases	4 GRI programs 2 GIGA programs	IgM Bacteremia HIV Antibody HIV** GIGA 2070 COVID-19	GIGA 2050 COVID-19
Neurology	3 GRI programs 5 ALK programs			GRF6019 ABvac40 AD AD GRF6021 AKST4290 PD with PD Dementia

* Alkahest; ** Project of AlbaJuna (Grifols' invested company); *** Licensed rights from Rigel Pharmaceuticals in EU and other countries

Caption

Commercial R&D

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Investor & Analyst Day June 21

Changing the Course in Neurology 2

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Dementia: A Global Challenge, a Personal Reality

Increasing Incidence of Dementia

Dementia involves loss of memory, language, problem-solving and other thinking abilities that are severe enough to interfere with daily life

"One of the major challenges of our generation"

We are facing a global challenge to find a cure, improve treatment, and ensure enough resources to enable people to live well with dementia

Sources: Alzheimer's Disease International, Worlds Alzheimer Report 2015, https://www.alz.org/alzheimers-dementia/what-is-dementia

Sources: Parkinson Foundation; Aarsland D, Kurz MW. The epidemiology of dementia associated with Parkinson disease. J Neurol Sci. 2010 Feb 15;289(1-2):18-22. doi: 10.1016/j.jns.2009.08.034. Epub 2009 Sep 4. PMID: 19733364

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Investor & Analyst Day June 21

Holistic Approach to These Urgent Unmet Needs

Our Innovation Strategy in Neurogenerative Diseases (ND)

	Strategy Focus
Diseases	Understanding the molecular basis of ND and those related with aging
Mechanism of Action (MoA)	Disease-modifying therapies vs. Treating symptoms
Products	Antibody, small molecules, RNA-based drugs, plasma-derived drugs, etc… to be developed according to the validated therapeutic target

R&D Efforts Covering the Whole Development Path

Our Innovation Strategy in Neurogenerative Diseases (ND)

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Plasma Is the Body's Highway of Communication

The Language of this Communication Encodes Health and Disease

The Balance in Plasma Proteins Determines Growth, Tissue Homeostasis, Apoptosis

We Apply Rigorous, Innovative Science to Derive Breakthrough Therapeutics from Plasma

2021 Investor & Analyst

Day June 21

Plasma Is a Rich Source of Proteins With Therapeutic Potential

We Are "Molecularizing" Plasma

We identify proteins in plasma that regulate vital functions in aging and disease

We have gained an unprecedented Understanding of Plasma Fractions

Our Research Platform

Understanding Plasma at a Molecular Level

Plasmatology

Innovation From Deep Analysis of the Plasma Proteome

7597 proteoforms

Molecular Choreography of Aging and Disease

Decoding Causal Relations of Disease Processes

Investor & Analyst Day June 21

Unprecedented Knowledge Base for Plasma-Derived Therapeutics

Best-in-class Plasma Proteomics

Proteomics Lead the Way to Disease Mechanisms

Most extensive profiling (>10,000 proteins) of healthy aging and diseases

Mass spectrometry, multiple array technologies

Plasma Fractions & Small Molecules

Differentiation between multiple diseases states (>60)

Increased interpretability of diseases by clustering

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2021 Investor & Plasma Fraction Improves Parkinson's Disease Dementia

Novel Therapeutic Candidates From Plasma

Dementia associated with Parkinson's disease
Randomized placebo-controlled study
Two dosing periods of Plasma protein fraction

Results Cognitive functions improved Statistically meaningful differences between Plasma Fraction and Placebo Safety and tolerability of dosing paradigm favorable Effect size superior as compared with currently used cognitive enhancer agents

GRF6021: D-KEFS Letter Fluency Improvement

Studies From Baseline to Week 24 Superior Cognitive Effect to Standard of Care

Analyst Day June 21

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¹ Schmitt FA, Farlow MR, Meng X, Tekin S, Olin JT. Efficacy of rivastigmine on executive function in patients with Parkinson's disease dementia. CNS Neurosci Ther. 2010;16(6):330-336. doi:10.1111/j.1755-5949.2010.00182.x; ²Dubois B, Tolosa E, Katzenschlager R, Emre M, Lees AJ, Schumann G, Pourcher E, Gray J, Thomas G, Swartz J, Hsu T, Moline ML. Donepezil in Parkinson's disease dementia: a randomized, double-blind efficacy and safety study. Mov Disord. 2012 Sep 1;27(10):1230-8. doi: 10.1002/mds.25098. Epub 2012 Aug 22. PMID: 22915447

Plasma Fraction Improves Mild-to-Moderate Alzheimer's Disease

Functional Improvements in Cognition and Daily Activities

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Moving Forward With the AMBAR Project

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Investor & Analyst Day June 21

Advancing Care in Immunology 3

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IG Replacement Therapy as the Mainstay Treatment for PID and SID Patients Primary and Secondary Immunodeficiency Driving IG Demand

¹ MRB 2018: Analysis of Ig market in the U.S. 2018 and Forecast to 2025: ²Bousfiha et al. Primary Immunodeficiency Diseases Worldwide: More Common than Generally Thought. J Clin Immunol. 2013; 33:1-7; ³Internal Estimate ; ⁴Chronic Lymphocytic Leukemia

Expanding IG Replacement Therapy to Thousands of CLL Patients

CLL is the Fastest Growing Patient Segment for IG Therapy

HGG¹ occurs in up to 85% of patients with CLL (due to malignancy itself and/or treatment)2,3

>60%mortality Associated with a high rate of infections that account for

Program to include both IVIG and SCIG for CLL SID U.S. indication. Unique for SCIG

Opportunity to add clinical evidence to differentiate IG portfolio in markets with approved SID indications

Expected launch: 2026

CLL patients prescribed IG therapy expected to grow significantly

¹ Hypogammaglobulinemia; ²Friman V et al. Hematol Oncol. 2016;1-12: doi 10.1002/hon.2323 [Epub ahead of print]; ³Seppänen M. Clin Exp Immunol. 2014;178(Suppl 1):10-13; ⁴Internal data

2021 Investor & High Market Potential for Gamunex® and Xembify® in CLL

Offering CLL Patients Flexibility in Site of Care

Analyst Day June 21

U.S. Leukemia Prevalence

Offering a Better Home Treatment Experience Improving Flexibility and Convenience

Xembify® Pre-filled Syringes Xembify® Biweekly Dosing

Ideal for self-administration (manual push) and compatible with infusion pumps
Ease of use and time-saving process
Accurate pre-measured dosing
Potentially helping to reduce medication errors
Reduces medical supply waste
Adds flexibility with new dosing regimen option
Faster infusion rate (60ml/h)
Opportunity to individualize dosing frequency
Potential improvement in patient quality of life

Offering broader administration options provides a greater opportunity for treatment satisfaction and patient empowerment, which may support high levels of patient compliance

Analyst Day June 21

Advancing Towards Cutting-Edge Delivery Systems

Smart Pump System

Improving IVIG & SCIG home infusion treatment experience

Simplify the infusion process, improve ease of use, and add mobility/freedom

Bluetooth connectivity to an app/dashboard

Superior features over disposable wearable devices

Expected launch: 2023

Opportunity to leverage digital health platform to improve patient outcomes

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Investor & Analyst Day June 21

Shaping Cirrhosis Management in Hepatology

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Combination of Acute Treatment and Long-Term Albumin Use

Our Cirrhosis Management Perspective

Decompensated Cirrhosis

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Shaping the Future of Albumin

Our Innovation Strategy in Hepatology

Albumin Most abundant protein in the body
Focus of investigation 15 years for more than Clinical & non-clinical program to understand Albumin's role in health and disease MoA and	Albumin is widely used as a volume replacement/ expander fluid as a volume	Albumin is shown to be altered in disease2,3
these investigations… Concept of albumin as a pharmaceutical	replacement/ expander fluid1
with a multifactorial Mechanism of Action (focusing in hepatology and other

Albumin's therapeutical potential Key discoveries in understanding

Albumin infusion shows clinical improvement in decompensated cirrhosis⁴ Plasma Protein Replacement with albumin may provide benefits across different diseases5,6

Investigations into albumin's potential use as a drug in complex diseases are underway

(focusing in hepatology and other diseases like Alzheimer)

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¹ Vincent JL et al. Crit Care. 2014;18(4):231; ² Garcia-Martinez R et al. Hepatology. 2013;58(5):1836-46; ³ Costa M et al. J Alzheimers Dis. 2018;63(4):1395-404; ⁴ Caraceni P et al. Lancet. 2018; ⁵ Boada M et al. Alzheimers Dement (N Y). 2019;5:61-9; ⁶ Laleman W et al. Can J Gastroenterol Hepatol. 2018;2018:1027152

Exploring the Full Potential of Albumin

More Than Just a Volume Expander

Albumin Acts as a Multi-Target Disease-Modifying Agent

Its Function Correlates With Clinical Outcomes in Advanced Cirrhosis

Extensive Clinical Program

Albumin Treatment at Different Stages of Cirrhosis

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PRECIOSA Study: LTA Admin. to Revert Cirrhosis Progression

Prevention of Mortality in Subjects With Decompensated Cirrhosis and Ascites

Centers and Countries

~40 participating centers • Est. study end (LPLV): Q1 2023

U.S., Canada, Belgium, Denmark, France, Germany, Italy,

Spain and UK

Status (Apr 2021)

Recruitment update: 129 subjects randomized (31%)

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Investor & Analyst Day June 21

APACHE Study: Bridging Therapy to Liver Transplant

ALADDIN Study: Understanding Disease Pathogenesis and PE-A 5% MoA

Effects of Plasma Protein Replacement with Human Serum Albumin 5% (PE-A 5%) on Short-term Survival in Subjects with "Acute-On-Chronic Liver Failure" (ACLF) at High Risk of Hospital Mortality

Translational research project supporting Apache, aim to provide key insights on ACLF and Albumin MoA

failure and ACLF in cirrhosis

PE A-5% mechanism of action in ACLF

Ph3, 1:1 randomized, multicenter, open label enrolling 380 ACLF subjects (90 days FU): SMT vs SMT + PE A-5% 40 centers from US and 8 EU countries

• Est. study end (LPLV): 2Q 2022 • Recruitment update: 109

subjects randomized (29%)

N = 250 patients from EU participating in APACHE (59 randomized (24%), April 2021)

Capturing the Opportunity in Cirrhosis

Long-Term Albumin Use

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Investor & Analyst Day June 21

Thriving Against Infectious Diseases 5

		GRIFOLS

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Analyst Day June 21

Leverage Our Learnings From Prior Efforts

Permanent Threat of Emerging Pathogens Calls for Developing New Therapies

Emerging Infectious Diseases (EID)

Issue of global concern as incidence has increased dramatically in recent years

Transmission and spread at an unprecedented speed influenced by human-related factors¹

Globalization
Climate change
Human-wild animal interface
Antimicrobial resistance
Host susceptibility
Behavior changes

Deaths

The number of deaths from outbreaks recorded in the last two decades shows the big impact of infectious disease

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¹Journal of Physiological Anthropology volume 39, Article number: 29 (2020); ²https://www.who.int/csr/sars/country/2003_07_11/en/; ³The Lancet Infectious Diseases, 12(9), 687-695. doi:10.1016/S1473-3099(12)70121-4; ⁴ https://www.ecdc.europa.eu/en/middle-east-respiratorysyndrome-coronavirus-mers-cov-situation-update; ⁵https://www.cdc.gov/vhf/ebola/history/2014-2016-outbreak/index.html; ⁶https://apps.who.int/iris/bitstream/handle/10665/204348/zikasitrep_5Feb2016_eng.pdf;jsessionid=2E8C110C039D151C1EE6B384A9F064A8?sequence=1; ⁷WHO

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Leveraging Our Capabilities to Fight Against an Emergent Pathogen Plasma Polyclonal Hyperimmunes Platform: Anti-COVID-19

10% Hyperimmune globulin IV

INSIGHT 012/OTAC

Study to evaluate its Safety and Efficacy in nonhospitalized patients with COVID-19

20% Hyperimmune globulin SC

C19-IG

Study to evaluate the safety and efficacy in infected asymptomatic ambulatory outpatients

Non-hospitalized patients age ≥ 55 with COVID-19 who have had COVID-19 symptoms ≤ 5 days

Target population

Ambulatory Asymptomatic patients with confirmed SARS-CoV-2 infection

Platform built from our vast experience in developing immunoglobulins from selected donors against specific pathogens

Investor & Recombinant and Polyclonal Hyperimmunes: GigaGen Platform

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2021

Analyst Day June 21

2021 Investor & Analyst

Day

GIGA-2050 Allows Clinical Validation of the GigaGen Platform

12,000 Anti-Coronavirus Antibodies Captured From 16 Convalescent Donors

June 21

Manufacture as a recombinant monoclonal antibody (rMAB), regulatory framework generally followed standard rMAB

Acute monkey toxicity study showed no drug-related events at the highest dose tested (475 mg drug / kg body weight)

IND reviewed by FDA with no clinical holds

First dose in Phase I clinical study: enrollment ongoing

Enrichment for neutralizing antibodies

Sorting for binders to SARS-CoV-2 RBD, and removing antibodies that don't bind, reduces diversity but enriches neutralizing titer

Live SARS-CoV-2 Virus Neutralization

2021 Investor & Analyst

Day June 21

Grifols, in the Fight Against Pandemic

Commitment With Society and the World, Preparing for Future Challenges

as vaccination progresses number of COVID-19 new cases is expected to be significantly reduced

in developed economies with massive access to vaccines

Vaccination is still well below

herd immunity targets

(25% of US population won't be vaccinated* )

Grifols is committed to society to keep working to bring new therapies

Not all countries have broad access to vaccines

COVID-19 is devastating in countries like India

New variants

that might become resistant to vaccines

Investor & Analyst Day June 21

Ophthalmology: Expanding Into a New Therapeutic Space 6

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Entering Into a New Therapeutic Space New Avenues for Research in nAMD and Diabetic Retinopathy

2021 Investor & Analyst Day

AKST4290: Blocking Eotaxin-Mediated Inflammation

Potent CCR3 Inhibitor for Multiple Therapeutic Indications

Blocking Eotaxin-CCR3 Signaling Reduces Retinal Inflammation

Addressing AMD and Diabetic Retinopathy

Eotaxin/CCR3 Binding increases

Membrane Permeability/Degradation

Immune Cell Recruitment

Cytokine Upregulation

Heightened Neuroinflammation & Neurodegeneration

2021 Investor & Analyst

Day June 21

AKST4290 Reduces Inflammation in the Eye

New Insights Into the Pathology of Eye Diseases: Cytokines and Immune Cells

Inflammatory Proteins from Circulating Plasma Accumulate in the Eye

AKST4290 Reduces Inflammatory Proteins and Infiltrating Immune Cells in the Eye

2020

nAMD Patients Treated With Oral AKST4290 Positive Phase 2a in Age-Related Macular Degeneration

Naïve patients (201)	Mean (Median)	N (%)
Overall BCVA Gain	+7.0 (8)	29 (100%)
"Responders" ≥5 Letter BCVA Gain	+14.9 (11.5)	16 (55%)
≥10 Letter BCVA Gain	+17.3 (15.5)	12 (41%)
≥15 Letter BCVA Gain	+23.2 (22)	6 (21%)
RPE-DH Change	-79.3 (31)	19 (66%)*
CST Change	-13.9 (-4)	29 (100%)

* 19 of 29 subjects with RPE Detachment

Strong improvement in Best Corrected Visual Acuity: similar to standard of care aVEGF¹ injections into the eye

Oral agent a substantial advancement compared to the high treatment burden of current intravitreal aVEGF

1 Vascular Endothelial Growth Factor

- 87 -

An Oral Treatment Would Be Highly Desirable Diabetic Retinopathy: A Major Unmet Medical Need

Manifestations of DR Characteristics and Progression of DR

Phase 2 study in Diabetic Retinopathy (DR) with AKST4290

CAPRI: A Double-Masked, Placebo-Controlled Study to Evaluate the Efficacy of Oral AKST4290 in Participants with Moderately Severe to Severe Diabetic Retinopathy
N = 80; Randomization = 1:1 (AKST4290 400 mg BID: placebo to match); at 25 US sites
Dose = 400mg BID (orally) for 24 weeks treatment
Rationale: AKST4290 improved vision in AMD patients and may also have a similar effect in DR
Anti-inflammatory activity of the compound would slow or block the progression of the pathology of DR

2021 Investor & Analyst Day June 21 Entering a Large and Growing Market Meeting the Challenge and Addressing the Opportunity Neovascular Age-Related Macular Degeneration (nAMD) Diabetic Retinopathy (DR)

Investor & Analyst Day June 21

Continuous Developments in Diagnostics 7

- 90 -

Analyst Day June 21 Diagnostics R&D Areas of Focus

Proteins

Immunohematology

DG Gel

New Antisera development

New gel card DG Gel DC Scan Plus testing

Multicard

Extended phenotyping

Drug Interference Solution

Kit to resolve daratumumab interference for cancer patients

Immunoassays for donor screening

Ultrasensitive SMC Assays in development

Discriminatory Multiplex: HIV/HCV, HBsAg

HBcore	Chagas	HTLV
Syphilis	CMV	HBsAg
		Confirmatory

High throughput analyzer in development

Clinical Diagnostics

SARS CoV2 Antibody Test CE Marked

Promonitor – Biological Drug Monitoring

Promonitor Quick Anti-IFX & IFX

Promonitor Quick Anti-ADL & ADL

Recombinant Proteins

Grifols Portfolio (internal customers)

Screening/Diagnostics	Therapeutics
• IAs for Donor Screening • Immunohematology	• Alkahest (Neurodegeneration) • Biosciences (SARS CoV2)
CDMO Opportunities (external customers)

Investor & Analyst Day June 21

Contract Development & Manufacturing at Grifols, Emeryville

Recombinant Protein Excellence in Microbial and Mammalian Systems

Combining the Chiron legacy of recombinant expression innovation with Grifols quality and excellence

Current Active Projects

Orphan drugs

Vaccines

Wound healing

Therapeutic enzymes

Continually expanding and adding new capabilities…

New Pilot Plant for scale-up and GxP material production
New hosts to expand options in mammalian and yeast expression
New single-use equipment for fermentation and purification

Analyst Day June 21 Diagnostics R&D Areas of Focus

Nucleic Acids

- 93 -

NAT Donor Screening

Lab Automation

Panther ART: to support greater lab automation and efficiency

Improved middleware

Other New Procleix® Assays

Babesia assay: CE Marked (Jan 2021)

Plasmodium assay: in development

New Multiplex Procleix® Assays

UltrioPlex® E assay

ArboPlex® assay

New Multiplex Assays for NAT Blood Screening

New Solutions to Enhance Testing Efficiency and Blood Safety

Assays on Procleix® Panther system recently launched or under development

Procleix® UltrioPlex E assay: results for 5 viruses into single reaction: HIV-1, HIV-2, HCV, HBV, and HEV

Procleix® ArboPlex Assay: results for 5 arthropod-borne viruses (or "arboviruses") into a single reaction: West Nile, Usutu, chikungunya, dengue, and Zika viruses

Other multiplex assay concepts in feasibility

Increases laboratory efficiency:

Increases production efficiency by combining manufacturing operations

HIV-1 HIV-2 HCV HBV HEV IC

Multiplex format offers significant advantages to both customers and Grifols

and liquid waste)

Analyst Day June 21 Diagnostics R&D Areas of Focus

Nucleic Acids

NAT Donor Screening

Lab Automation

Panther ART: to support greater lab automation and efficiency

Improved middleware

Other New Procleix® Assays

Babesia assay: CE Marked (Jan 2021)

Plasmodium assay: in development

New Multiplex Procleix® Assays

Ultrio® Plex E assay

ArboPlex® assay

Clinical Diagnostics

Infectious Diseases

Procleix® SARS-CoV-2 assay

Grifols Diagnostics Rapid Response to Pandemic

Procleix® SARS-CoV-2 Assay Developed in <3 Months

Highly sensitive and specific detection of SARS-CoV-2 RNA

CE marked: May 2020

Assay runs on fully automated Procleix® Panther system

Among most sensitive EUA NATs according to results from testing FDA SARS-CoV-2 Reference Panel

Our ultra-high sensitivity and long experience in donors testing allows testing in pools of samples improving efficiency

Over 10 million tests manufactured in San Diego

Test is widely used in select EU under license agreement and U.S. markets

EU¹ : as an aid in diagnosis of COVID-19 (respiratory specimen testing)

US: organ/tissue donor screening to support transplant safety

Grifols' employee testing

SARS-CoV-2

Procleix ® Panther System

Collaboration Made SARS-CoV-2 Assay Project a Success!

- 97 -

Analyst Day June 21 Diagnostics R&D Areas of Focus

Nucleic Acids

NAT Donor Screening

Lab Automation

Panther ART: to support greater lab automation and efficiency

Improved middleware

Other New Procleix® Assays

Babesia assay: CE Marked (Jan 2021)

Plasmodium assay: in development

New Multiplex Procleix® Assays

UltrioPlex® E assay

ArboPlex® assay

Clinical Diagnostics

Infectious Diseases

Procleix® SARS-CoV-2 assay

Specialty/Genetic Testing

Development of GRIFOLS Genetic Service for A1AT Deficiency testing, direct to patients (Over-The-Counter)

Gain FDA Clearance for AlphaID™ at Home Expanding AlphaID™ Testing to OTC Consumer Program

AlphaID™ At Home Genetic Health Risk Service Website

AlphaID™ At Home Saliva Collection Kit

A1AT Genotyping Test for OTC

Genetic Health Risk Service Result Report

Order online AlphaID™ at Home

Use AlphaID™ At Home Saliva Collection Kit at home

Ship saliva collection device with collected sample to lab

Access report online via secure patient portal

Over-the-Counter (OTC) Innovative Solution to expand the U.S. screening program

The OTC At Home Service is in the design and development stage

2021 Investor & Analyst

Day June 21

AlphaID™ at Home Genetic Health Risk Service

User Comprehension Study Overview

Our Goal Remains Firm

Accelerate Diagnosis to Stop Genetic Emphysema's Progression

is helping to accelerate diagnosis and is the basis for innovative testing strategies

Grifols WW Testing Program

>850,000 tests performed

Investor & Analyst Day June 21

Continuous Developments in Alpha-1 Diagnosis

Self-Testing Will Provide Benefits for Patients and HCPs

Allows for further developments that would accelerate testing by better addressing customers needs

Analyst Day June 21

- 103 -

Market Size Opportunity

For Selected Projects

	Product	Indication	Market Size
Immunology	SCIG / IVIG	SIDs-CLL
		ACLF
Hepatology	Albumin	LTA Cirrhosis
Pulmonology	Alpha-1 AT	Non-CF Bronchiectasis
	Fostamatinib	AIHA
Haematology	Fibrinogen	Acquired Deficiency
	ATIII	New indication	(each)
	HIV Antibody	HIV
Ophthalmology / Others	AKST4290	nAMD & DR
	GIGA 564	Anti-CTLA-4 Oncology	(each)
Infectious	IgM	Bacteremia
Diseases	GIGA2050	COVID-19
	GRF6019	Alzheimer's Disease
	AKST4290	Parkinson's Disease with Dementia
Neurology	ABvac40	Alzheimer's' Disease	(each)
	GRF6021	Parkinson's Disease

Expanding Our Reach: Disease Management Beyond Plasma-Derived Therapies Key Takeaways

New leadership and governance
to effectively foster and support
breakthrough innovation

Executing on our Innovation Strategy within and outside the plasma space to achieve a more risk-value balanced portfolio

Focus on high prevalence and transformational therapies that meet global challenges with huge untapped potential

Transforming disease management in Neurology, Ophthalmology and Infectious Diseases through innovative platforms led by Alkahest and GigaGen

Exploring large opportunities on plasma: sharpen focus on CLL; shaping cirrhosis treatments and accelerating alpha-1 diagnostic

Strengthening pipeline in Diagnostic across the value chain and new diseases

Investor & Analyst Day June 21

Customer Centricity

Showing Strength and Successfully Managing Adversity

Lafmin Morgan – Chief Commercial Officer

- 105 -

2021 Investor & Analyst Day

June 21

Pandemic Impact on Healthcare

Short-Term Impacts Continue in 2021, but Receding

Patients	Healthcare Hospitals & Providers Institutions		Commercial Interactions
Diagnosis visits remain 12% below 2019 baseline, generating a -3,8% gap in Px1	Biopharma in-person patient visits were up 17% in March'21 with all specialties increasing1	Lab testing (all settings) still below 20192	Perceived value of 1-1 VC vs. in-person has fallen; both Specialists and PCPs now
Elective procedures still		The pandemic could cause	want more in-person1
remain 15% below 2019 levels1	Total prescriptions recovering compared with 2020 (+6%)1	U.S. hospitals to face between \$53 billion and \$122 billion in revenue loss this year3	Total Biopharma details increased 13% in March'21 rising to 93% of baseline1

Sources: ¹ IQVIA data published April 2021; ² IQVIA data published September 2020; ³Hospital finances in 2021: 10 things to know (www.beckerhospitalsreview.com)

2021 Investor & Analyst Day

June 21

Pandemic Impact on Healthcare

Patients Are Facing Additional Challenges

Pandemic Impact on Healthcare

Providing Support, Bringing New Therapies and Looking for New Solutions

Alpha-1 patients	PID/SID patients	ITP patients	COVID-19 patients
Patient Support Programs (US, EU and LATAM)	Xembify® launch in the US	Launch of Tavlesse® just after COVID-19 wave 1	Development and launch of TMA in <3 months
Home Infusion	Continuous support to patients groups		R&D of therapies to fight against COVID-19
AlphaIDTM in patient hands

Demonstrating Resilience and Commitment to Sustainable Growth

Increasing Our Revenues in This Extraordinary Context

- 109 -

Investor & Analyst Day June 21

Continue Introducing Innovations to Address Customer Needs

Contributions From New Products >50% of Revenue Growth in 2020

ULTRIO PLEX E

• New flexible container to complement vials and broaden Grifols offering to customers

• US launch in 2021

Investor & Analyst Day June 21

- 111 -

Robust Demand and Launch of New Products Bolster Bioscience

Revenues Reach EUR 4,241M With a 8% CAGR

40 consecutive quarters Sustained Quarter over Quarter growth for more than

Investor & Analyst Day June 21

Long Term Trends Continue to Support the Return to Strong Growth

- 113 -

Pulmonology: Our Goal Remains Firm

Accelerate Diagnosis and Stopping Genetic Emphysema's Progression

is helping to accelerate diagnosis and is the base for innovative testing strategies

Grifols WW Testing Program

>850,000 tests performed

- 114 -

Analyst Day June 21

Immunology: The First Step to Help Patients is Diagnosis

NIH Estimates 500,000 Undiagnosed PIDD Patients in the US¹

DIAGNOSIS

Average PIDD diagnosis still takes 12.4 years²

- 115 -

Grifols is uniquely positioned to leverage our expertise in IG replacement therapy and diagnostics to improve the rate and time to an appropriate PIDD diagnosis

¹ Modell V. Immunol Res. 2007;38(1-3):43-47; ² . Routes J, et al. J Clin Immunol. 2016;36:450-461. ³Boyle JM, Buckley RH. J Clin Immunol. 2007;27(5):497-502; ⁴ French MA, Tangye SG. J Infect Dis. 2019;jiz230. doi:10.1093/infdis/jiz230; ⁵Bonilla FA, et al. J Allergy Clin Immunol. 2015;136(5):1186-1205.e1-78

Investor & Analyst Day June 21

- 116 -

Immunology: SID Market Keeps Growing

Significant Room to Continue Helping Patients with SIDs

NEW USES AND INDICATIONS

SID market continues to grow in hematological malignancies and beyond

Driven by…

Increased use of SID-inducing medication in both oncological and autoimmune indications

Extended survival rates of cancer patients

Chronic Lymphocytic Leukemia (CLL) and Hypogammaglobulinemia (HGG)

¹ US PPTA Distribution Data;; ² Friman V et al. Hematol Oncol. 2016;1-12: doi 10.1002/hon.2323. [Epub ahead of print]; ³ Seppänen M. Clin Exp Immunol. 2014;178(Suppl 1):10-13. SID: Secondary Immune Deficiency (not an FDA approved indication in the U.S.)

Intensive Care and Hepatology

The Use of Albumin in Liver Disease Will Become a Key Growth Driver

NEW USES AND INDICATIONS

- 117 -

Investor & Analyst Day June 21

Immunology and Neurology

IgG per Capita Consumption Growth in the Coming Years

EXPANSION

Raising awareness on PIDD diagnosis and treatment

Growing uses and indications in SIDs

2013-2020 per capita consumption (g/000 Population) for top markets worldwide

Xembify®, Expanding Grifols IG Portfolio

Aiming to Meet the Large, Unmet Medical Need in PIDD

NEW PRODUCTS

Xembify® U.S. Sales Volume Since Launch

Xembify® sees growth in Q1 2021 through an accelerated base of patients and prescribers, paving the way for continuity and further adoption in 2021

10-15% of Grifols global IG sales will be Xembify®

of Xembify® prescribers continue to prescribe Prescribers Dec 2020 Mar 2021 90% Patients of Xembify® patients that 85%

Mar 2021

start, continue treatment

Dec 2020

Investor & Analyst Day June 21

Pandemic Has Not Been an Obstacle

Continue to Bring New Therapies for Chronic ITP Patients*

NEW PRODUCTS

Tavlesse® GER Sales Volume since Launch

Tavlesse® has been successfully launched in Q3 2020 in UK and Germany

Investor & Analyst Day June 21

Addressing Customer Needs Strengthening Our Market Position

- 121 -

Maintaining 2nd Market Position in IVIG and IVIG+SCIG Market

Delivering on Our Promises

In the face of increasingly tough competition (SCIG products) years ago we committed to keep outperforming

Xembify® launch and customer centric developments will allow us to keep strengthening our market position

Grifols IVIG growth vs. SCIG + IVIG market growth ('15-'19)

We maintain our 2 nd Market positionin

the IVIG market and even considering the IVIG + SCIG market

CAGRs

- 122 -

Our Solid Customer Centric Mindset is Key Alpha-1 Strong 70% Market Share Despite of Years of Competition

A strong customer centric mindset has permitted Grifols to improve market share in the middle of the global pandemic

Reliable Supply	Patient Support	Testing Continued Innovation
-----------------	-----------------	---------------------------------

Sustained and reliable product supply

Important Alpha-1 product shortage from competitor in Q4'20 - Q1'21 challenged treatment continuity of hundreds of patients in EU during pandemic

Grifols, the Global Alpha-1 leader, was ready to immediately put in place all efforts thus guaranteeing therapy to patients

Our Solid Customer Centric Mindset is Key Alpha-1 Strong 70% Market Share Despite of Years of Competition

A strong customer centric mindset has permitted Grifols to improve market share in the middle of the global pandemic

Our Solid Customer Centric Mindset is Key Alpha-1 Strong 70% Market Share Despite of Years of Competition

A strong customer centric mindset has permitted Grifols to improve market share in the middle of the global pandemic

Novel Partnership Journey to Build on Complementarity

Investor & Analyst Day June 21

- 127 -

The Diagnostic Division Reported €776M Over 2020

Sustainable Growth Over the Last 5 Years

- 128 -

Global Leader in Blood Donor Screening

Plasma Testing Poised for Strong Growth

Blood donations tested

donations tested every minute with a Procleix® assay*

Plasma donations

We are converting all Grifols testing locations to Procleix® Instruments and Assays

Recent plasma center

Milestones and Innovations for Our Customers

Our Innovation Strategy Delivering on the Future Needs of Transfusion Patients

Customer Value Marketing – UltrioPlex E

Making an Impact in Blood Banks Operation

Hepatitis E virus (HEV) is one of the leading causes of acute viral hepatitis worldwide

HEV-RNA screening of blood donations implemented in eight EU countries

Incidence of HEV infection in Europe over 10 years has grown by ten times

- 131 -

HEV INFECTIONS 20M WORLDWIDE

Laying the Foundation to Become a Leader in Immunohematology

Strong Resilience in Spite of a Global Pandemic

Execution Focused on Customers Continues to Fuel Growth

Continuous Success Across All Customer Segments With Highest Customer Loyalty

Investor & Analyst Day June 21

- 134 -

Investor & Analyst Day June 21

Weathering the Storm in 2020

COVID-19 Challenges Impacted Performance With a Few Important Exceptions

Hospitals have been significantly impacted by COVID-19 driving decline in Hospital Division revenues in 2020

Pharmatech business was impacted with complex projects being delayed. As a result, Pharmatech revenue declined 11.8% in 2020 after two consecutive years of strong double digit growth

PharmacyKeeper achieved strong growth in 2020

Day June 21

Providing Life-Sustaining Products and Technology for Patients and Pharmacy Solutions During the Pandemic

We remain a leader for IV Fluids in Iberia, helping to ensure hospitalized patients receive needed sterile IV solutions

Grifols rapidly implemented medication control technology in new treatment centers deployed during the outbreak in Spain

In the U.S., 93,000 compounded sterile preparations are made every day with the help of PharmacyKeeper

When significant logistical challenges arose for distributing vaccines within hospitals PharmacyKeeper enhanced its industry award winning* IVWF software, to help optimize dispensing for patients

Investor & Analyst Day June 21

- 137 -

Bio Supplies Diversifies the Revenue Base

Successful Business Expansion Over the Last 4 Years

- 138 -

Bio Supplies Commercial Grows by Double Digits

Building the Pillars to Assure Excellence in Long-Term Partnerships

Biopharma Diagnostic

Provide additional value to Grifols proteins in niche markets

Vertical integration for Diagnostic IH by supplying blood components as raw material while providing additional value to non-suitable for fractionation plasma

High growth expectations driven by…

2021 Investor & Analyst Day June 21

Several companies using Grifols excipients in clinical trials

New industry applications for current portfolio

New products

Showing Strength and Successfully Managing Adversity Key Takeaways

Customer and patient centricity has allowed us to be prepared for the future	Grifols grew in 2020, with 50% contribution to growth from new products and achieving 40 consecutive quarters growing QoQ	Long-term trends remain robust for Bioscience
Demonstrated ability to succeed in competitive markets	Long-term trends also support growth in Diagnostic and Hospital divisions	Bio Supplies is a growing high-margin business, significantly contributing to the development of new drugs and products

Grifols, Along the Journey

Grifols is Uniquely Positioned to Help Patients and HCPs Along All the Way

2021 Investor and Analyst Day

June 3, 2021

Investor & Analyst Day June 21

New Business Models

Advocating Patients' Needs Through a Sustainable Global Plasma Model

Daniel Fleta – Chief Industrial Officer

- 143 -

2021 Global Dependency on U.S. Plasma

Investor & Analyst Day June 21

- 144 -

U.S. plasma collections are increasing at a faster rate than the global market

2021 Investor & The U.S. Leads Global Plasma Collections

Population (M) Plasma Collections (M L/year) Canada* 0.3 8.8 37.7 U.S. 45.9 138.7 331.0 5.2 46.1 112.8 Egypt - - 100.3 China 8.9 6.2 1,433.8 Liters per 1,000 population Austria, Czechia, Germany, Hungary Rest of Europe 3.9 6.1 634.3

Analyst Day June 21

- 145 -

Sources: "UN World Population Prospects 2019 Data Booklet"; "Plasma Collections 2019" and "MRB 2019 Global Blood & Plasma Collections Report." Calculation from "Protecting Access to Immune Globulins for Canadians: Final Report of the Expert Panel," Health Canada, 2018.

Global Dependency on U.S. Plasma

2018 IgG Plasma Usage vs. Plasma Collected (millions of liters)

If current landscape remains unchanged, the plasma surplus will grow in the U.S. while deficits will increase in other regions, particularly in Europe

Source: "Plasma Flows on a Global Level: Impact and Realities in Europe," Matthew Hotchko, PhD, Marketing Research Bureau, GPS Meeting, October 28-30, 2020.

- 146 -

Analyst Day June 21

Higher Demand for Plasma Driven by Healthcare Systems Development, New Indications and Higher-Prevalence Diseases

Worldwide Prevalence*

Diagnosis and prescriptions are increasing

Albumin – Alzheimer's and Cirrhosis

Ig – Secondary Immunodeficiencies (i.e. Oncology)

Other indications

Fight emerging virus i.e. Ebola, COVID-19

*Total Prevalence calculations over 5,360,680 World Population >18years – Source UN World Population Prospects 2019_DataBooklet.

1 World Federation of Haemophilia; 2 Grifols patient counts (last update 10MAY2020): assume 50% of patients diagnoses receive treatment based in market knowledge and affiliate input. COPD Prev 10-18%. COPD, Diagnosis 10-50%; 3 Burden of Cirrhosis on Patients and Caregivers, 2020; ; 4 National Institute of Allergy and Infectious Diseases. Primary immune deficiency diseases (PIDDs). niaid.nih.gov/diseases-conditions/primary-immune-deficiency-diseases-PIDDs Accessed June 30, 2020; 5 https:/ww.who.int/news-room/fact-sheets/detail/sepsis

- 147 -

Grifols Value Proposition for Plasma Self-Sufficiency Projects

Exceptional Synergies to Unlock the Potential of Strategic Projects

Tech.Transf. & EPCM Capabilities Grifols Engineering

Multidisciplinary and highly qualified team providing complete turnkey solutions from conceptual design to facility management and operation
Proprietary technology development
Optimization of CAPEX and control of cost, timing and quality

Patients at the Core Safety & Quality Long-term Partner

Commitment to patients extending access to plasma therapies worldwide
Products quality and safety are in the foreground built on the solid foundation of a reliable plasma supply
Comprehensive portfolio of products and instruments to ensure quality; from plasma testing solutions to DC consumables manufacturing

Local Presence, Global Reach Unique Approach to Geographies

Geographically focused strategy
Partners as diverse as needed: Private or public sector
China Affairs Office: a successful model

Investor & Analyst Day June 21

Clearing the Path Towards Self-Sufficiency

Daniel Fleta – Chief Industrial Officer

- 149 -

Egypt at a Glance 2020

Investor & Analyst Day June 21

Strengthening Egypt's Healthcare System and Self-Sufficiency

Grifols Engineering, Industrial and Quality Expertise Offer a Unique Opportunity

Egypt

Identification of plasmaderivatives as a strategic asset for the country
Improve Egypt's healthcare system
Know-how and technology
Operations management
Quality and safety
Training

Strategic alliance between Grifols and the Egyptian government will help the country attain selfsufficiency of plasmaderived medicines and enable market expansion in the Middle East and Africa

Benefits

Free up plasma and manufacturing capacity
Additional plasma procurement sources

Expansion opportunities in other territories

(Africa, Saudi Arabia, Kuwait, Qatar, Bahrain, United Arab Emirates, Oman, Iraq, Jordan, Lebanon, Syria and Yemen)

Grifols will have total management oversight for the design and construction of facilities, operations, quality and safety to guarantee selfsufficiency of world-class plasma products

2021 Investor & Analyst Day

June 21

Egyptian Plasma-Center Network

- 152 -

Investor & Analyst Day June 21

October 6th Plasma-Donor Center

Plot area: 5,100 m²

Paved area: 2,763 m²
Green area: 500 m²
Footprint main bldg. and ancillary: 1,836 m²

Scope

Donor center, plasma testing labs, plasma freezers warehouse, Grifols Academy for Plasmapheresis and plasma ops. offices

Egyptian Manufacturing Site

Medical City Development Plan in New Capital City

- 154 -

Manufacturing Site Location

Scope

Plasma logistics center, labs, vivarium, R&D, common areas, warehouses, utilities and manufacturing plants

- 155 -

Capacity 1 Million Liters of Plasma (expandable)

Fractionation, purification and fill-and-finish of:

Coagulation factors
Gammaglobulins
Albumin

Analyst Day June 21

Manufacturing Plant

- 156 -

2021 Investor & Analyst

Day June 21

Clearing the Path Towards Self-Sufficiency Key Takeaways

Global plasma collections are growing but the U.S. dependency is also increasing	Higher demand of PDMP due to healthcare systems development, better diagnosis, new indications and clinical trials to treat high-prevalence diseases	Egypt offers growth potential as a fast-growing and developing nation and leading regional supplier to the Middle East and Africa
Clear willingness of the Egyptian government to set a legislative framework that promotes the viability and sustainability of this project	Grifols Industrial through Grifols Engineering is uniquely poised to offer cutting-edge turnkey solutions	Free up plasma and manufacturing capacity to serve other growing markets

Investor & Analyst Day June 21

China

Progressing on Our Strategic Alliance Under a Successful New Business Model

Amarant Martínez – VP China Affairs Office

- 158 -

Great Potential on a 10-Year Horizon

At the Forefront of Global Health Spending

Investor & SRAAS Successfully Weathered COVID-19

Limiting Plasma Collections Impact to -2.0% vs. -9.3% of the Industry

2021

Analyst Day June 21

Source: Reports released by listed manufacturers 2020. Internal Analysis.

Sustained Double-Digit Growth Adds USD 500M+ Each Year

Leveraging Our Capabilities to Become Leaders in Albumin and IG

- 161 -

¹Multinational corporations; ²Market share; Source: Institutes of Food and Drug Control.

Investor & Analyst Day June 21

Bioscience Commercial Platform Under SRAAS

From Third-Party Distribution Model to Strategic Partnership With Leading Manufacturer

Albumin	FVIII
IVIG	PCC
IMIG	Fibrinogen
Hep B IG	Thrombin
Tetanus IG	Fibrin Sealant
Rabies IG

Direct Sales & Distribution Management
Hyperimmunoglobulins marketed directly to the CDCs
500+ Commercial Partners
6,500+ Retail Pharmacies
700+ Grade III Hospitals
2,500+ Grade II Hospitals

Investor & Analyst Day June 21

Fastest Growing IVD Market With Great Potential

Implementing the Go-Direct Model

1 st step: Reorganization of internal operations by shifting from current partners towards integrated commercial model

Phased implementation of NAT solutions at SRAAS facilities (pool of 96)

Portfolio expansion under assessment:

• Ultrio Plex E (HEV, HIV-1, HIV-2, HCV, HBV)

• New DG Gel Cards

- 163 -

Advancing towards a Diagnostic integrated model for blood and plasma screening

China: A Dynamic Innovation Ecosystem

Capitalizing on New Opportunities

"2021-2030 Alzheimer's Disease Prevention and Treatment Work Plan"

To reach highest rate of: AD prevention and treatment awareness rate; services network; elderly cognitive function screening rate

Center of Excellence at Great Bay Area, partnering with leading institutions. Concept matches with country approach
Group of Experts
Clinical Program to generate real-world data and address aspects of indications, reimbursement and guidelines

Centralized Testing	Successful SRAAS Pilots according to Provincial Health Commission requirements	Supporting authorities with Grifols' full-range capabilities

R&D	SRAAS development of IVIG 10% and SCIG 20%

Others	Take Innovation Beyond Plasma to China

- 164 -

Sources: Chinese Aging Well Association-Alzheimer Branch; Jian Kang Shi Bao.

Progressing on Our Strategic Alliance Under a Successful New Business Model Key Takeaways

Unparalleled growth potential across divisions	Excellent performance amid these challenging times	Continue delivering on execution in the second year of the alliance
Robust capabilities and broader portfolio through the integrated Bioscience commercial platform under SRAAS	Advancing towards a Diagnostic integrated model	Innovation as a key element within the alliance

Investor & Analyst Day June 21

Canada

Leveraging Our Experience and Capabilities to Meet the Needs of National Customers

Joel Abelson – President Bioscience Commercial

- 166 -

Analyst Day June 21

Grifols is Well-Positioned to Meet Canada's Needs

Deep experience in the Canadian market, with more than 30 years as the primary fractionator for Canada's blood operators

Only large-scale domestic manufacturing facility and uniquely positioned for continued growth across full platform of service offerings

Grifols is supporting Canada's path towards selfsufficiency by partnering with Canadian Blood Services to enhance security of supply in a novel proof-ofconcept partnership model

One of the highest IG usage per capita with one of the lowest plasma donation rates

The pandemic heightened the urgency for plasma selfsufficiency/domestic production

- 167 -

Building On A Legacy

Over 30 Year History as the Primary Fractionator for Canada's Blood Operators

Canada's Blood Operators

Canadian Blood Services and Héma-Québec

Accountable to Canadians for a safe, secure blood system
Funded by the provincial and territorial Ministries of Health
Responsible for procurement of plasma derived medicines Domestic

Plasma Opportunity in Canada

One of the Highest IG per Capita. One of the Lowest Plasma Donation Rates

Canada is one of the highest users of Ig per capita…

243g per 1,000 population (CBS figures)

IG grams shipped and rate of sufficiency

• Canada's plasma volumes sent for fractionation are Liters collected per 1,000 population United States: 113 L Austria: 75 L Czechia: 45 L Germany: 36 L Spain 8 L Canada 8.8 L Canada

8.8L collected per 1,000 population

(2017 data)

… but has one of the lowest plasma donation rates

• Few source plasma (apheresis) collection centers have been established (non-remunerated model)

primarily from recovered plasma

(for which no alternative exists)

Sources: Bédard, J.P. (2020) "Navigating Complexity: Ensuring Security of Supply." Canadian Blood Services, Jaworski, P. (2020) "Bloody Well Pay Them: The Case for Voluntary Remunerated Plasma." Adam Smith Research Trust, Medical Research Bureau, Canada 2019/20. Calculation from 'Protecting Access to Immune Globulins for Canadians – Final Report of the Expert Panel. Health Canada. 2018.

On the Path Towards Self-Sufficiency

Enhancing Domestic Supply Security Through Partnership With CBS

Sudbury's center is the first of three new Canadian Blood Services dedicated plasma-donor centers that are opening across Canada. First announced in August 2019, these donor centers represent a proofof-concept approach aimed at offering an optimized collections model that leverages Canadian Blood Services' extensive expertise and industry best practices for plasma collection.

State-of-the-art plasma donor center opens in Sudbury

Media Release December 16, 2020

"Through a unique consultative partnership, we have had the opportunity to learn from the best practices Grifols has refined to improve and streamline our plasma collections in our new plasma donor centres. As the national blood authority, Canadian Blood Services will continue to deliver on our mandate to support patients by operating the national blood system guided by the principles outlined by Justice Horace Krever." Jean-Paul Bédard, Vice-President Plasma Operations, Canadian Blood Services

"Grifols, with more than three decades providing trusted plasma medicines to Canadians, is extremely pleased to deepen its relationship with Canadian Blood Services to expand Canada's plasma-collection infrastructure to meet the growing demand for plasma therapies and enhance the health and quality of life of the Canadian patients who depend on them."

Joel Abelson, President Grifols' Bioscience Commercial Division

Key Takeaways

Investor & Analyst Day June 21

Leveraging Our Experience and Capabilities to Meet the Needs of National Customers

Grifols' is committed to helping countries reach self sufficiency of plasma derived medicines	For 30+ years, Grifols has been the primary fractionator of Canadian plasma under contract manufacturing services	Strengthening Grifols' presence in Canada, building on a legacy of partnership in Canada's blood system
Market opportunity as demand continues to grow and IG use per capita is one of the highest in the world	Only large-scale domestic manufacturing facility	Uniquely positioned for continued growth across full platform of service offerings

Investor & Analyst Day June 21

Driving Resource Allocation to Support Further Growth and Profitability

Alfredo Arroyo – Chief Financial Officer

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Investor & Analyst Day June 21

Delivering on Our Commitments

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Investor & Analyst Day June 21

Delivering on Our Commitments

2020 IAD Key Takeaways

Driving long-term sustainable growth across all divisions	Reinforcing our international expansion through SRAAS in China and alliances in Canada and Egypt	Increasing plasma supply through organic and inorganic initiatives
Integrated innovation efforts as a core strategic pillar	Continuous CAPEX to support future growth	Deleveraging and securing liquidity remain key priorities

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Investor & Analyst Day June 21

Delivering on Our Commitments

2020 IAD Key Takeaways

Investor & Analyst Day June 21

Proven Resilience During Unprecedented Times 2

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Proven Resilience During Unprecedented Times

2020 COVID Impacts

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Analyst Day June 21

Investor & Proven Resilience During Unprecedented Times

2021 COVID Impacts

Estimated Impact in P&L for 2021

+ -

Price increases (mid-single digit growth)
Product mix including recent product launches
Expected sales rebound in the last part of 2021 thanks to sustained solid demand and recovery in plasma collections
Optimization and efficiencies: Continuation of most of the 2020 cost containment measures in 2021 and beyond
Larger contribution from SRAAS
Bioscience topline performance impacted by lower plasma collections
Cost per liter increase derived from higher donor fees and fixed costs under absorption
R&D efforts stemming from the integration and development of new acquisitions

Solid Fundamentals: 2021 still some challenges. 2022 back on track

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Investor & Analyst Day June 21

3 Key Drivers to Support Further Growth and Profitability

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Analyst Day June 21

Key Drivers to Support Further Growth and Profitability Fit for Growth

Structural costs optimization plan

Divest non-strategic business lines

Cost Optimization and Divest Non-Strategic Lines

Resetting Cost Base to Promote Innovation

Structural Cost Optimization Plan

Identified further cost reduction opportunities
Maintain EUR c.100m in annual run-rate cost savings
Targeted administrative and support functions, as well as other non-strategic activities

Divest Non-Strategic Business Lines

Driving improved focus on capital allocation on core divisions/business lines
Active efforts to divest non-strategic business lines
Each division will contribute to value creation

Increasing Profitability Through Driving Innovation

Focus on Deleveraging and Securing Liquidity

6 Strategic Investments Led to a Higher Leverage Ratio

2021 Investor & Analyst Day June 21

Debt and leverage ratio remain a key priority

Efforts to reduce debt without missing strategic opportunities

Securing liquidity

Investor & Analyst Day June 21

M&A to Support Growth and Profitability 4

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Investor & Successful Track Record to Support Growth

Demonstrated Ability to Successfully Expand

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2021

Analyst Day June 21

Investor & Analyst Day June 21

Securing Our Plasma Supply

Consolidating Our Competitive Advantage

Increase Grifols' plasma supply and expand, diversify and reinforce our plasma-center network

Q4 2020 Acquisition of 11 plasma centers from Green Cross

11 U.S.-based plasma centers that obtain 350k liters of plasma/year
USD 90 million

Q1 2021 Acquisition of 25 plasma centers from BPL

25 U.S.-based plasma centers that obtain 1m liters of plasma/year
USD 370 million

Q2 2021 Acquisition of 7 plasma centers from Kedrion

• 7 U.S.-based plasma centers that obtain 240k liters of plasma/year

• USD 55 million

Q1 2021 Plasma Supply Agreement in Hungary

• 7 Hungary-based plasma centers that obtain 120k liters of plasma/year

Enhancing Our Innovation Strategy

Integrating Alkahest and GigaGen

Diversifying and reinforcing our pipeline by exploring solutions beyond plasma in order to accelerate our plan for sustained margin expansion

Acquisition of the remaining 55% equity of GigaGen

September 7, 2020 March 9, 2021

Its protein-targeted assets and non-plasma derived therapeutics projects can help Grifols diversify while retaining its focus on the science of plasma
USD 146 million

Acquisition of the remaining 56% stake of GigaGen

Acquisition of the remaining 56% share capital of the U.S. biopharmaceutical company
USD 80 million

Global Expansion Through New Business Models

Canada, Egypt and China Lead the Way

Multi-level approach to enter new markets and become a reliable long-term partner while helping countries bolster their self-sufficiency

October 1, 2020 Closing of the acquisition of Green Cross fractionation plant in Canada

Fractionation plant with a 1.5m-liter annual capacity and two purification plants
Grifols is now the only large-scale commercial manufacturer of plasma products in Canada
USD 370 million

Strategic alliance with the Egyptian government

November 24, 2020

• The plasma centers will initially collect around 600k liters plasma/year. The plant will have a fractionation capacity of up to 1m liters/year

SRAAS Continues to Outperform

Delivering Solid Performance

P&L Variations

Unparalleled short-, mid- and long-term growth opportunity
China is Grifols' third-largest sales market, representing its leading market for albumin and third most important market for the Diagnostic Division
High potential for value creation thanks to synergies
Strong cash flow generation; no debt
SRAAS has become the exclusive distributor of Grifols' plasma-derived products in China, with a robust sales network of 500+ distributors

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Investor & Analyst Day June 21

Enhancing Investor Communications

Clear focus on ESG and integrated reporting Further promote our transparency on ESG-oriented initiatives Recognized among the world's most sustainable companies: DJSI, Euronext Vigeo, FTSE4Good, Bloomberg Gender Equality Index and S&P Global Ratings Fluid and transparent communications are crucial, especially during these unprecedented times Grifols is intensifying its efforts to maintain a reinforced constant dialogue with stakeholders In light of the recently issued norm by the Spanish Law and embraced by the Spanish Stock Exchange (CNMV) and the fact that Grifols' performance is not quarterly driven, the company will henceforth release its earnings results on a half year basis ESG Fluid and Transparent Communications Earnings Releases

Driving Resource Allocation to Support Further Growth and Profitability Key Takeaways

Streamlined focus on value creation fundamentals	Active efforts to divest non-strategic line of businesses	Increasing profitability through driving innovation

Deleveraging and liquidity remain a key priority	Successful track record of organic and inorganic growth	Clear focus on ESG and integrated reporting Half Year earnings release

Investor & Analyst Day June 21

Environmental, Social and Governance

Shaping the Industry's Sustainability Standards

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Thomas Glanzmann – Vice-Chairman of Grifols' Board of Directors and Chairman of Grifols' Sustainability Committee Nuria Pascual – VP Corporate Treasury & Investor Relations Officer

Investor & Analyst Day June 21

Building on Our Heritage to Foster Sustainability as a Strategic Pillar

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Investor & Analyst Day June 21

Sustainability in Our DNA Since 1909…

Built Historically on Our Strong Corporate Values

Investor & Analyst Day June 21

… Strengthened Through Our Governance

Commitment Based on Ethical Leadership and Internationally Recognized

Integrating Sustainability in Our Strategy

On the Path Towards 2030 and Beyond Led by Our 4 Pillars

Investor & Analyst Day June 21

Sustainability Plan: Our Commitments 2

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2021 Sustainability Plan: Our Commitments

Investor & Analyst Day June 21

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Our People Is Our Top Priority

Our Commitment Promotes Equality, Diversity, Inclusion and Development

Our People Is Our Top Priority

Equal Opportunities, Diversity and Professional Development

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Commitment to Donors and Patients

Ensuring Non-Discrimination and Donor Health, Safety and Well-Being

Commitment to Donors and Patients

Grifols' Commitment to Patients is Based on Three Pillars

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Analyst Day June 21

Commitment to Donors and Patients

Our Sustainable Business Model Pursues Social Value

(1) Corresponds to the high end of the sensitivity analysis performed

Day

Our Contribution to Social Progress

Investor & Analyst June 21 Social Action Plan

Education

Help promote access to education and equality of opportunities in communities where Grifols operates

Contribute to driving positive change: gender equality, ethics and values

Build close ties in donor communities and areas where production facilities are located

Community programs in other countries and humanitarian aid

Promote and improve access to healthcare

Direct and foundation-led initiatives

Promote science as a driver of positive change

Contribute to recover and enhance natural and environmental patrimony

Direct initiatives and joint projects in collaboration with nature conservation associations

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Environmental Responsibility

Our Six Commitments for 2030

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Shaping the Industry's Sustainability Standards Key Takeaways

Since our beginnings in 1909, we have continually strengthened our commitment to generate social impact	Our commitment promotes equality, diversity, inclusion and talent development	Non-discrimination and measures to ensure donors' health, safety and well-being
Supporting patients through access to treatment, awareness campaigns and support programs	Creating social value beyond financial performance	Significant progress on 2030 environmental targets

Investor & Analyst Day June 21

Final Remarks

Innovation at the Core of Our Decisions to Drive Profitable Growth

Víctor Grífols Deu – Co-CEO

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Excelling in Grifols' Core Pillars

Since 2005, We Have Excelled in 3 Core Pillars Leading to a 10 Fold Growth

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A Solid Basis

Emerging Stronger From the Pandemic; Results to Start Paying Off in the Short-term

¹ 10 of 20 centers to be opened during 2021; 2. Total DCs opened from 2020 Q4 until end of 2021

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Innovation

Investor & Analyst Day June 21

Collecting Results From New Innovation Approach While Paving the Way for the Future

Internal plasma innovation Plasma innovation out licensed Non-plasma innovation in licensed Diagnostics Innovation SARS-CoV-2 … and still in ramp-up stage 50% of 2020 growth … +

Recent innovation results Foundations for innovation as growth engine

New Scientific Innovation Organization

Expand towards a holistic approach in our core therapeutic areas (Internal, External, Plasma, Non-plasma)

Powerful legacy & promising platforms

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Investor & Innovation

2021

Analyst Day June 21 A Global Ecosystem to Deliver Value in Our Core Therapeutic Areas

Therapeutic areas

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Revenue

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Investor & Innovation

2021

Analyst Day June 21

Moving Forward, Innovation Will Be the Engine of Profitable Growth

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2021 Investor and Analyst Day

June 3, 2021

Investor & Analyst Day June 21

Glossary

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Glossary

2021 Investor & Analyst Day June 21

Alpha-1 antitrypsin deficiency (AATD): Inherited disease characterized by low levels of, or no,alpha-1 antitrypsin (AAT) in the blood. This protein made in the liver, reaches other organs (such as the lungs), after being released into the blood stream, enabling its normal function.
Albumin: The most abundant protein found in plasma (approximately 60% of human plasma). Produced in the liver, it is important in regulating blood volume by maintaining the oncotic pressure of the blood compartment.
Alzheimer's disease (AD): This is the most common form of dementia. This incurable, degenerative, and terminal disease was first described by German psychiatrist and neuropathologist Alois Alzheimer in 1906 and was named after him.
American Society for Apheresis (ASFA): An organization of physicians, scientists, and allied health professionals whose mission is to advance apheresis medicine for patients, donors and practitioners through education, evidence-based practice, research and advocacy
Autoimmune disease: Condition in which the immune system mistakenly attacks healthy cells.
Babesiosis/Babesia virus: Disease caused by microscopic parasites that infect red blood cells.
Beta-amyloid: Protein strongly implicated in Alzheimer's diseases. Beta-amyloid is the main component of certain deposits found in the brains of patients of Alzheimer's disease.
CIDP (Chronic Inflammatory Demyelinating Polyneuropathy): Neurological disorder which causes gradual weakness, numbness, pain in arms and legs and difficulty in walking.
Cirrhosis: Medical condition which is a result of advanced liver disease. It is characterized by there placement of liver tissue by fibrosis (scar tissue) and regenerative nodules (lumps that occur due to attempted repair of damaged tissue).
Chronic Lymphocytic Leukemia (CLL): a type of cancer of the blood and bone marrow the spongy tissue inside bones where blood cells are made
COVID-19: Infectious disease caused by a new strain of coronavirus. 'CO' stands for corona, 'VI' for virus, and 'D' for disease.
ELISA: Enzyme-linked immunosorbent assay.
EMA: European Medicines Agency.
EPCM: Engineering, Procurement, Construction Management.
Factor VIII or FVIII: This is an essential blood clotting factor also known as anti-hemophilic factor(AHF). In humans, Factor VIII is encoded by the F8 gene. Defects in this gene results in hemophilia A, a sexlinked disease that occurs predominantly in males. FVIII concentrated from donated blood plasma, or alternatively recombinant FVIII, or rFVIII can be given to hemophiliacs to restore hemostasis.

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Glossary

2021 Investor & Analyst Day June 21

Factor IX: This is an important blood clotting factor also known as Christmas factor or plasma thromboplastin component (PTC). It is one of the serine proteases of the coagulation system and belongs to the peptidase family S1. In humans, a deficiency of this protein causes hemophilia B, a sex-linked disease that occurs predominantly in males.
FDA: Food and Drug Administration. U.S. Health Authority.
Fibrin sealant: Surgical adhesive material derived from plasma.
Fibrinogen: Coagulation factor found in human plasma crucial for blood clot formation.
Fractionation: Process of separating plasma into its component parts, such as albumin, immunoglobulin, alpha-1 antitrypsin and coagulation factors.
HBV: Hepatitis B Virus.
HCV: Hepatitis C Virus.
Hematology: The study of blood, blood-forming organs, and blood diseases.
Hemoderivative: Proteins obtained by fractionation of human blood plasma. See plasma derived proteins.
Hemophilia: Genetic deficiency characterized by the lack of one of the clotting factors. It has two main variants:
ꟷ Hemophilia A: genetic deficiency of coagulation Factor VIII, which causes increased bleeding (usually affects males).
ꟷ Hemophilia B: genetic deficiency of coagulation Factor IX.
Hemotherapy: Treatment of a disease using blood, blood components and its derivatives.
HEOR: Health Economics Outcomes Research
HIV: Human Immunodeficiency Virus.
Hyperimmune globulin: class of immunoglobulins prepared in a similar way as for normal human immunoglobulin, except that the donor has high titers of antibody against a specific organism or antigen in their plasma.
IA: Immunoassays. These are systems available in several formats that may be used to detect antibodies, recombinant proteins or a combination of the two.
Immunoglobulins: Also known as antibodies, are proteins derived from plasma. They control de body's immune response. They have multiple indications and some of their main uses are to treat: (i) immune deficiencies, (ii) inflammatory and autoimmune diseases and (iii) acute infections. IVIG is an immunoglobulin administered intravenously that contains IgG (immunoglobulin (antibody) G).

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Glossary

Intravenous: Administration of drugs or fluids directly into a vein.
Immunohematology: A branch of hematology related to the study of recombinant proteins and antibodies and their effects on blood and the relationships between blood disorders and the immune system. Also referred to as Transfusional Medicine – blood bank, its main activities include blood typing, compatibility tests and crossmatching and antibody identification.
Immunology: This is a branch of biomedical science that covers the study of all aspects of the immune system in organisms. It deals with the physiological functioning of the immune system in states of both health and disease; malfunctions (autoimmune diseases, hypersensitivities, immune deficiency, transplant rejection) and the physical, chemical and physiological characteristics of the components of the immune system in vitro, in situ, and in vivo.
Immunoglobulin (IgG): Also known as antibodies, are proteins derived from plasma. They control de body's immune response. They have multiple indications and some of their main uses are to treat: (i) immune deficiencies, (ii) inflammatory and autoimmune diseases and (iii) acute infections. IVIG is an immunoglobulin administered intravenously that contains IgG (immunoglobulin (antibody) G).
ITP (Chronic immune thrombocytopenia): Autoimmune disorder in which patients produce antiplatelet autoantibodies and specialized white blood cells that destroy their blood platelets. This results in a low blood platelet count (thrombocytopenia) that may produce bruising or excessive bleeding.
IVD: In vitro Diagnostic.
IV solutions/Intravenous solution: Medicine or homogeneous mixture of a substance in liquid, enabling it to be infused into the circulatory system through a needle.
Molecular Diagnostics: Discipline that studies genomic (DNA) and proteomic (proteins)expression patterns and uses the information to distinguish between normal, precancerous, and cancerous tissues at the molecular level.
Monoclonal antibody (mAb): Antibody produced by a single clone of cells typically used in immunotherapy (such as in the treatment of autoimmune or inflammatory disorders and cancer), diagnostic testing and cell identification and tracing. Monoclonal antibodies are a cornerstone of immunology and are increasingly coming into use as therapeutic agents.
Myasthenia Gravis (MG): Chronic autoimmune, neuromuscular disease that causes weakness in the skeletal muscles that worsens after periods of activity and improves after periods of rest. These muscles are responsible for functions involving breathing and moving parts of the body.

Glossary

NAT: Nucleic Acid Amplification Testing.
Neovascular Age-Related Macular Degeneration (nAMD): is a disease that impacts the central area of the retina in the eye, called the macula.
Neurology: Science that deals with the anatomy, functions and organic disorders of nerves and the nervous system.
Ophthalmology: is a branch of medicine and surgery that deals with the diagnosis and treatment of disorders of the eyE
Pandemic: The worldwide spread of a new disease.
PCR: Polymerase chain reaction is a method widely used to rapidly make millions to billions of copies of a specific DNA sample, allowing scientists to take a very small sample of DNA and amplify it to a large enough amount to study in detail.
pdFVIII: Plasma-derived Factor VIII.
Parkinson Disease Dementia (PDD): complex neurodegenerative disorder where each patient experience different combination of motor and non-motor symptoms
Pharmacovigilance: Practice of monitoring the effects of medical drugs after they have been licensed for use, especially in order to identify and evaluate previously unreported adverse reactions.
Plasma: Yellow-coloured liquid part of the blood, consisting of a mix of a large number of proteins in solution.
Plasma-derived proteins: Purified plasma proteins with therapeutic properties that are obtained through the fractionation of human plasma. Albumin, immunoglobulins, factor VIII and alpha-1 antitrypsin are the main plasma proteins.
Plasmapheresis: Plasmapheresis is a technique which separates plasma from other blood components, such as red blood cells, platelets and other cells. These unused blood components are suspended in saline solution and immediately reinjected back into the donor. Because the donor is only providing plasma and not whole blood, the recovery process is faster and better tolerated, and the donor is able to make donations more frequently. Plasmapheresis was developed by Jose Antonio Grifols Lucas in the year 1951. It is the only procedure that is capable of obtaining sufficient quantities of plasma to cover the manufacturing needs for the different plasma protein therapies.
Plasma Proteomics: is a term which describes the high-throughput analysis of plasma biomarkers using very powerful, sensitive and specific instruments.
PPTA: Plasma Protein Therapeutics Association.
Primary immunodeficiency (PID/PIDD): Inherited condition where there is an impaired immune response, weakening the immune system and allowing infections and other health problems to occur more easily. It may be in one or more aspects of the immune system.

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2021 Investor & Analyst

Day June 21

Glossary

ProlastinR/ProlastinR -C: This is a concentrated form of alpha-1 antitrypsin (AAT), derived from human plasma and approved only for chronic, or ongoing, replacement therapy in people with genetic AAT deficiency. Given as prescribed, Prolastin raises the levels of AAT in the blood and lungs. Raising the AAT level may help reduce the damage to the lungs caused by destructive enzymes.
Pulmonology: is an area of medicine that focuses on the health of the respiratory system. Pulmonologists treat everything from asthma to tuberculosis.
Recombinant: Protein prepared by recombinant technology, coded by the manipulated gene. Procedures are used to join together segments in a cell-free system (an environment outside a cell organism). They are known as highly potent medicines that are safe from off-target side effects and take a shorter time to develop than small molecules.
rFVIII: Recombinant Factor VIII is the antihemophilic factor A, obtained using recombinant DNA technology. With this technology, pure factor is synthesized in the laboratory instead of being extracted from blood plasma.
ROW: Rest of the World.
SARS-CoV-2: Severe acute respiratory syndrome coronavirus 2 is the strain of coronavirus that causes coronavirus disease 2019 (COVID-19), the respiratory illness responsible for the COVID-19 pandemic.
Secondary immunodeficiency (SID) : Occurs when the immune system is compromised due to an environmental factor. Examples of these outside forces include HIV, chemotherapy, severe burns or malnutrition.
SCIG: Subcutaneous Immunoglobulin
Thrombin: Enzyme that presides over the conversion of a substance called fibrinogen to fibrin, which promotes blood clotting.
Transfusion medicine: Branch of medicine that encompasses among others, immunohematology, blood and plasma screening and blood typing.
West Nile Virus (WNV): Virus transmitted by mosquitoes. Humans are mainly infected through mosquito bites, but infection can occur through organ transplantation and blood.
Von Willebrand Disease (vWD): This is the most common hereditary coagulation abnormality described in humans, although it can also be acquired as a result of other medical conditions. It arises from a qualitative or quantitative deficiency of von Willebrand factor (vWF), a multimeric protein that is required for platelet adhesion.
Zika virus: Infectious disease spread by the bite of an infected Aedes species mosquito.

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Grifols S.A. — Investor Presentation 2021

1834_rns_2021-06-03_f36177cc-760c-4516-b1f4-fae091972317.pdf

2021 Investor and Analyst Day

Disclaimer

IMPORTANT INFORMATION

FORWARD-LOOKING STATEMENTS

2021 Investor and Analyst Day

Agenda

Introductory Remarks

Building Upon Our Core Commitments

Raimon Grífols – Co-CEO

Grifols Proved Its Resilience and Commitment in 2020 by...

…and Doubling Our Efforts in Three Core Areas

2020: Emphasizing the Importance of Plasma

Plasmatology

Strengthening Our Fundamentals

Grifols Continues Its Path of Sustainable Growth

Sustainability: A Strategic Pillar

Creation of…

Sustainability Committee

Sustainability Policy

Grounded on 4 pillars

Plasma Supply and Manufacturing

Accelerating the Execution of Our Expansion Plan

Eduardo Herrero – President, Bioscience Industrial Group

Plasma Operations 1

Key Drivers to Support Further Growth Plasma Supply: Leveraging Grifols' Competitive Advantage

2021 Investor & Plasma Supply: Leveraging Grifols' Competitive Advantage

U.S. and European Plasma Collections in 2021

Global Footprint to Support Sustainable Growth

Global Footprint to Support Sustainable Growth

Global Footprint to Support Sustainable Growth Diversification Plasma Center

Recent Plasma Supply Transactions

43 Plasma Centers Across 13 States 7 Plasma Centers in Hungary

Global Footprint to Support Sustainable Growth

Expanding and Diversifying Grifols' Presence

Bolster presence in the Middle East and Africa

20 plasma collection centers (1ML/year)

Manufacturing facilities:

2021 Investor & Analyst Day

Global Footprint to Support Sustainable Growth

Leveraging Technology to Optimize Efficiencies

Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Process Enhancement

One Grifols Fleet Management

Testing Optimization Talent Development

Logistics Management System Grifols Testing Lab System

Grifols Navigation System Artificial Intelligence

Leveraging Technology to Optimize Efficiencies Diversification Plasma Center

Donor Commitment Compensation Impact

Leveraging Other Costs

Donor Commitment Compensation

Donor commitment compensation represents ~25% of total CPL

Grifols leverages other costs in 2021 to partially offset the donor commitment compensation levels

Manufacturing 2

Inventory Levels to Rebound in 2H 2021 Efficient Inventory Management Ensured Ongoing Operations

Inventory levels are expected to grow by the end of 2021

2021 Investor & Strong Inventory Position and Efficient Supply Chain

Digital Transformation 2019-2023

End-to-End Integrated Planning (E2E)

Electronic Batch Record (EBR)

Plant Information (PI)

Virtual Reality

Artificial Intelligence1

Accelerating the Execution of Our Expansion Plan Key Takeaways

Innovation Strategy

Expanding Our Reach: Disease Management Beyond Plasma-Derived Therapies

Accelerating Grifols' Innovation Through A New Leadership

Expanding Grifols' Global Innovation Footprint

Grifols' Therapeutic Areas and Platforms

Scientific Innovation Office

Grifols' Innovation Ambition

Sizable, Diversified, Steady Revenue Contribution

Grifols' Innovation Ambition

A Pipeline to Achieve a Risk-value Balanced Portfolio

Caption

Changing the Course in Neurology 2

Dementia: A Global Challenge, a Personal Reality

Grifols S.A. Investor Presentation 2021

Artificial Intelligence¹