Grifols reorganizes its operating model to accelerate execution of its strategic roadmap

Barcelona, Spain, July 1, 2026 – Grifols (MCE:GRF, MCE:GRF.P, NASDAQ:GRFS), a global healthcare company and leading producer of plasma-derived medicines, today announced a strategic reorganization designed to further strengthen the operational and financial independence of its subsidiaries. The new framework is designed to provide greater strategic focus, autonomy and visibility to its main operating platforms as the company advances a broader transformation of its global plasma sourcing and operating model.

Within this broader strategic framework, Grifols has initiated a series of organizational workstreams intended to support the continued evolution of its subsidiaries as autonomous, fully integrated and self-sufficient plasma businesses. These initiatives include the development of financial reporting capabilities, enhancement of internal control and compliance frameworks, separation of certain operational functions, according to the new operating model.

This strategic reorganization stems from the progressive evolution at Grifols toward a two-system operating model in which U.S.-sourced plasma primarily supports the U.S. market, while ROW plasma increasingly supplies European and rest of the world demand. Grifols believes this approach will optimize growth and profitability by better aligning sourcing costs with regional pricing structures, while also strengthening supply resilience and reducing dependence on a single geography, allowing Grifols to successfully navigate any geopolitical and regulatory complexities.

As part of this reorganization, Grifols has appointed Felipe Palacios, Senior Vice President (SVP) in Biopharma U.S., to lead the U.S. commercial operations. Felipe Palacios brings more than 25 years of experience in the pharmaceutical, biotech and healthcare industry, with a successful track record in Executive Leadership, P&L Management, Commercial Operations, Global Marketing, and General Management and a robust US and international footprint. The company confirms that Thierry Heinrich, Senior Vice President (SVP) in Biopharma will lead the ROW commercial operations at the company.

Anne Berner, Chairwoman of Grifols, said: “This reorganization reflects the broader transformation underway at Grifols. Value creation today is not only determined by where we compete, but by how we source, manufacture and allocate plasma globally. By structurally rebalancing our plasma sourcing footprint and aligning supply with local market economics, we are building a more efficient, resilient and profitable operating model. The enhanced autonomy of our operating platforms will further strengthen execution, accelerate decision-making and support long-term sustainable growth, ultimately improving resilience and supporting long-term margin expansion.”

As this transition will take place over the coming months, the current Executive Committee of Grifols will continue to lead the execution of the company's strategy.

The first fully self-sufficient plasma-derived medicines company in the U.S.

The U.S. Biopharma business combines scale, operational maturity and recurring revenue generation with continued opportunities to drive growth through execution, efficiency and expansion of its product portfolio, without the need for significant additional capital expenditure. It operates in the world’s leading plasma donor market, which supplies more than 60% of global plasma worldwide and continues to show strong structural demand, with the industry expected to grow at a high single-digit rate over the coming years. The plasma industry features high entry barriers where scale, infrastructure and regulatory expertise are critical, and where a limited number of players account for the vast majority of global capacity.

Grifols is the largest player in the U.S. plasma donor market, where it operates nearly 300 donation centers across 40 states and has major industrial facilities in California and North Carolina, employing more than 14,000 people across the U.S. This infrastructure is essential to sustaining the global production of plasma-derived medicines and meeting growing national and international demand. The company has built a uniquely positioned platform in the U.S., combining full vertical integration, fully domestic footprint and significant industrial scale that remains a core strategic asset for the Group.

Egypt accelerates global plasma optimization strategy

As additional plasma volumes become available outside the U.S., Grifols expects to over time substantially reduce the need to utilize higher-cost U.S. plasma to serve lower-priced international markets while focusing the U.S platform to meet the growing national demands of the U.S. As a result, the company is further optimizing global plasma allocation and improve the efficiency of its vertically integrated operating model over time.

Following EMA approval of the Egypt supply chain in 2025, the company continues to progressively integrate Egyptian plasma volumes into its broader industrial and supply platform. As part of its growth plan, Grifols Egypt for Plasma Derivatives (GEPD) will add €180 million to the €280 million already invested in the project’s development to date, consistent with previously disclosed capex plans, and expects to continue expanding its national network of donation centers and progressively increase collection capacity, with the goal of reaching one million liters of annual plasma collections by 2026 and ramping up to three million liters of plasma by 2029. The goal is part of the continued scaling of Grifols’ integrated plasma platform outside the U.S. and supports the company’s broader efforts to diversify plasma sourcing, enhance supply resilience and improve long-term plasma economics across its global network.