Grifols Welcomes Moody’s Ratings’ Upgrade to B1 with Stable Outlook

Barcelona, Spain, February 16, 2026 – Grifols, S.A. (MCE: GRF, NASDAQ: GRFS), a global leader in plasma-derived medicines and innovative healthcare solutions, welcomes Moody’s decision to upgrade to B1 from B2 the corporate family rating (CFR) with a stable outlook, reflecting Grifols' continued operating performance and strong business characteristics.

Moody’s B1 rating also reflects the company's strong market position, scale and vertical integration in human blood plasma-derived products, which are relevant for the industry, the favourable fundamental demand drivers of the sector, the high barriers to entry in the industry because of regulation, customer loyalty, and its good product safety track record. The rating also takes into consideration the company's current leverage, capital intensity of the business and working capital requirements.

Additionally, Moody’s also decided to upgrade to B1-PD from B2-PD the probability of default rating (PDR) of Grifols. Consequently, Moody’s has also upgraded to Ba3 from B1 the instrument ratings of the backed senior secured instruments issued by the company. At the same time, Moody’s has upgraded to B3 from Caa1 the instrument ratings of the backed senior unsecured instruments issued by Grifols.

Moody’s also changed the outlook on the company to stable from positive. The stable outlook reflects Moody’s expectations that Grifols will continue to have a strong operating performance and prudent financial management over the next 12-18 months.

Rahul Srinivasan, Chief Financial Officer of Grifols, said: “We welcome Moody’s validation of Grifols ongoing execution, deleveraging and free cashflow improvement progress, that remain key priorities for the company.”

Grifols remains firmly committed to operational excellence, innovation in plasma-derived therapies, and financial discipline, foundations that underpin its long-term commitment to patient health, sustainable growth, and value creation.