Financial Data and Key Metrics Changes - Revenues for Q4 2022 increased by 20.9% at constant currency, reaching EUR1.7 billion, and represented a 34.7% increase on a reported basis [1] - Full year revenues increased by EUR1 billion, reaching EUR6 billion, representing a 23% increase compared to the prior year [1] - Reported EBITDA grew to EUR1.2 billion, reflecting a 16.5% growth at constant currency with a 20.6% adjusted margin [121] Business Line Data and Key Metrics Changes - Biopharma's total revenues grew by 12.4% at constant currency and 23% on a reported basis, reaching EUR6.1 billion, driven by strong performance in immunoglobulin and other products [23] - Diagnostic performance declined by 4.6% at constant currency in 2022, impacted by non-recurring sales of COVID-19 testing technology [54] - Bio Supplies increased by 13% at constant currency and 26% on a reported basis, positively impacted by the acquisition of Access Biologicals [55] Market Data and Key Metrics Changes - Plasma collections increased by 25% in 2022, returning to pre-pandemic levels, with a notable increase in the U.S. following the lifting of border restrictions [49] - The company reported a 10% reduction in cost per liter due to a 20% drop in donor compensation [20][26] - The U.S. and Mexico markets showed robust double-digit growth in blood typing solutions, gaining market share globally [31] Company Strategy and Development Direction - The company is focused on operational improvement plans aimed at generating EUR400 million in annualized cash cost savings, with EUR100 million expected to be recognized in 2023 [39][111] - A commitment to invest in talent and improve organizational efficiency is emphasized, with a focus on creating a performance culture [15][16] - The integration of Biotest is seen as a transformational opportunity to enhance the product pipeline and drive future growth [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's recovery and future growth, highlighting the importance of operational efficiency and cost control [13][14] - The leadership team acknowledged the challenges ahead but remains committed to executing the announced plans and measures [6][14] - The company expects strong sales growth and further margin expansion in 2023, driven by plasma supply and underlying demand [114] Other Important Information - The company plans to close or consolidate underperforming donor centers, with 18 centers already closed in Q4 2022 [124] - A one-time charge of approximately EUR140 million will be required to deliver cost savings initiatives, which will be booked in Q1 2023 [125] - The company aims for a leverage target of 4 times by the end of 2024, with reported leverage declining to 7 times at year-end 2022 [122][120] Q&A Session Summary Question: When does the company expect to reach EBITDA margins exceeding 30%? - Management indicated that reaching this target could be possible by 2025 or later, depending on operational execution and product launches [59] Question: What is the expected leverage at the end of this year? - Management reiterated the target of 4 times leverage for 2024, with further declines expected in 2023 based on higher EBITDA and potential transactions [66][120] Question: How much of the EUR400 million savings will come from lower donor fees? - Management stated that 50% of the savings will come from optimized donor fees, with the other half from restructuring and operational improvements [80] Question: What is the company's strategy regarding plasma collection centers? - The company plans to manage plasma collection through existing centers and improve productivity rather than expanding the number of centers [95] Question: Is the company considering divestments or capital raises? - Management confirmed that all options are on the table, but emphasized that a capital raise is not a preferred option at current valuations [103][118]

Table of Contents SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ◻ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-35193 | GRIFOLS, S.A. | | | --- | --- | | (Exact name of Registrant as specified in its charter) | | | Kingdom of Spain | | | (Jurisdiction of incorporation) | | | Avinguda de la Generalitat, 152-158 | | | Parc de Negocis Can Sant Joan | | | Sant Cugat del Vallès 08174 Barcelona, Spain | | ...

2021 Investor and Analyst Day June 3, 2021 GRIFOLS جريفولز 基立福 2006-2021 2021 Disclaimer Investor & Analyst Day June 21 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 do ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...