Grifols, S.a. Class A · BME:GRF
Grifols, S.a. Class A — Investor Day (October 2020)
169 slides from Grifols, S.a. Class A's investor day presentation, Oct 21, 2020
Slide 1: 2020 Investor and Analyst Meeting
October 21, 2020 2020 Investor and Analyst Meeting
Slide 2: Important Information and Forward-Looking Statements
Investor and Analyst Meeting October 21 2020 - 2 - This document has been prepared by GRIFOLS, S.A. (GRIFOLS or the “Company”) exclusively for use during the 2020 Investor and Analyst Meeting on October 21, 2020. Therefore it cannot be disclosed or made public by any person or entity with an aim oth
Slide 3: Agenda
Investor and Analyst Meeting October 21 2020 Agenda 2020 Investor and Analyst Meeting Closing Nuria Pascual 7 .00pm 6.15 - 7 .00pm 6.05 - 6 .15pm Long - Term Success Leveraging on Innovation Víctor Grífols Deu 5.45 - 6 .05pm Financials: Solid Business Performance. Delivering Commitments Alfredo Arro
Slide 4: Grifols' Continued Sustainable and Ethical Growth
Investor and Analyst Meeting October 21 2020 Raimon Grífols Co - CEO Grifols’ Continued Sustainable and Ethical Growth
Slide 5: Bioscience Division Center and Albumin Purification Plant Dublin
Investor and Analyst Meeting October 21 2020 - 5 - Bioscience Division Center and Albumin Purification Plant Dublin Site Albumin bags: 50, 100, 250, 500 ml
Slide 6: More Than 110 Years of History
Investor and Analyst Meeting October 21 2020 - 6 - 1909. Instituto Central de Análisis Clínicos , Bacteriológicos y Químicos was founded in Barcelona Applying the Same Ethics for More Than 110 Years of History Grifols’ Continued and Sustainable Growth 1940. Laboratorios Grifols was founded 1958. Fir
Slide 7: Continued and Sustainable Growth
Investor and Analyst Meeting October 21 2020 - 7 - Applying the Same Ethics for More Than 110 Years of History Grifols’ Continued and Sustainable Growth Society Economy Environment Employees
Slide 8: Our People Contribute to Grifols' Success
Investor and Analyst Meeting October 21 2020 - 8 - Diversity Company’s Employees Are Our Most Valuable Asset Our People Contribute to Grifols’ Success Professional Development 24,003 +13% WOMEN MEN 60% 40% nationalities +80 permanent c ontracts 98% employed full - Time 93% 37% 112 average hours of t
Slide 9: Our Contribution to the Development of Society
Investor and Analyst Meeting October 21 2020 - 9 - • Promote and provide access to treatments • Educational programs and activities Invested Close to €40m in 2019, a Rise of 20% vs. 2018 Our Contribution to the Development of Society Patient Organizations 15.4m • Awards to advance scientific, resear
Slide 10: Our Commitment to the Planet
Investor and Analyst Meeting October 21 2020 - 10 - Six Commitments for 2030 Our Commitment to the Planet EMISSIONS REDUCTION ENERGY EFFICIENCY RENEWABLE ENERGIES DECARBONIZATION CIRCULAR - ECONOMY PROTECT BIODIVERSITY Reduce greenhouse gas emissions per unit of production by Increase energy efficie
Slide 11: Socio-Economic Contributions: Job Creation
Investor and Analyst Meeting October 21 2020 - 11 - x6.4 Grifols generates 5.4 jobs for every 1 job 148,000 Total jobs 150,000 120 , 000 90, 000 60 ,0 00 30, 000 Aggregated Employment Impact Our Socio - Economic Contributions Job Creation 2019 # jobs +52,000 new jobs 2019 2015 growth +55% Direct Imp
Slide 12: Socio-Economic Contributions: GDP Contribution
Investor and Analyst Meeting October 21 2020 - 12 - 8 , 000 7 ,00 0 6, 000 5 ,0 00 4 ,0 00 3 ,0 00 2, 000 1,0 00 2019 € in millions 2015 €36bn Aggregated Economic Impacts Our Socio - Economic Contributions growth +32% GDP Contribution €8.5bn Economic impact x2.0 Generating a double impact in GDP 201
Slide 13: Our Business Model Pursues Social Value
Investor and Analyst Meeting October 21 2020 - 13 - Responding to the Needs of Society Our Business Model Pursues Social Value Total Social Value Impact €6.2bn Donors The picture can't be displayed. €1,828m Social Value Ratio 2.1x Community €722m The picture can't be displayed. Patients (1) €3,636m
Slide 14: Giving Back to Society
Investor and Analyst Meeting October 21 2020 - 14 - Giving Back to Society Total Economic Impact * €8.5bn The picture can't be displayed. Total Jobs * 148k Social Value €6.2bn Social Value Ratio 2.1x * Total impact includes direct, indirect and induced impacts
Slide 15: Bioscience Industrial: Enhancing Plasma Supply and Manufacturing Operations
Investor and Analyst Meeting October 21 2020 Eduardo Herrero President, Bioscience Industrial Group Bioscience Industrial Enhancing Plasma Supply and Manufacturing Operations
Slide 16: Grifols Bioscience
Investor and Analyst Meeting October 21 2020 - 16 - • Long - term vision guides our organization in benefit of patients and stakeholders • Ongoing business optimization grounded on technology and continuous improvement • Consolidating a history of trust and progress for our employees and donors Grif
Slide 17: Plasma Supply
Investor and Analyst Meeting October 21 2020 - 17 - Plasma Supply
Slide 18: Our Global Supply Is on the Right Path
Investor and Analyst Meeting October 21 2020 - 18 - 2015 2016 2017 2018 2019 +13% Annually Our Global Supply Is on the Right Path A Quick Retrospective View Shows… Grifols Plasma Collections (U.S. & EU) Source: Internal, PPTA & EPA Grifols increased its plasma collections by +13% annually Market (w/
Slide 19: Stronger KPIs in the U.S. Over the Last Years
Investor and Analyst Meeting October 21 2020 - 19 - 2016 2019 Stronger KPIs in the U.S. Over the Last 3 Years A Quick Retrospective View Shows… 2016 2019 Average Liters in Existing U.S. Centers Index 100 = 2016 - 14% Qualified Donor Flowtime Opening Hours by Center Optimized Equipment Turnover 2016
Slide 20: Global Plasma Supply Strategy
Investor and Analyst Meeting October 21 2020 - 20 - Plasma Supply (U.S. & EU) Recovering From COVID - 19 Impact Global Plasma Supply Strategy 2020 2021FC Index 100 = 2020 ~ +30% COVID - 19 Impact ~ - 15% Robust fundamentals to complete recovery Plasma Supply: Diversification Acceleration of New Cent
Slide 21: Expanded Sourcing and Diversification
Investor and Analyst Meeting October 21 2020 - 21 - 312 Donor Centers 263 43 + 6 ( Plasmavita ) Shanghai RAAS (26.2%) 41 donor centers Canada United States Spain Germany Czech Republic Slovakia Italy China Expanded Sourcing and Diversification Proves Valuable Against COVID Impact 1. Plasma Supply Di
Slide 22: Plasma Supply Diversification (I): U.S.
Investor and Analyst Meeting October 21 2020 - 22 - 263 Plasma Donation Centers in 34 States 1. Plasma Supply Diversification (I): U.S. Diversified donor centers present throughout the U.S.: 34 states • Texas and Florida have the largest number of donor centers • Important presence in California and
Slide 23: Plasma Supply Diversification (II): Germany and Austria
Investor and Analyst Meeting October 21 2020 - 23 - 49 Plasma Donation Centers Across 11 Regions 1. Plasma Supply Diversification (II): Germany and Austria No plasma centers < 4 plasma centers 5 to 9 plasma centers +10 plasma centers Grifols Haema manufactures whole blood products for clinical use a
Slide 24: Plasma Supply Diversification (III): China
Investor and Analyst Meeting October 21 2020 - 24 - z Sharing Expertise and Lessons Learned (COVID - 19 Impact Management) 1. Plasma Supply Diversification (III): China Source: Report released by listed manufacturers. Updated on Jan. 6, 2020 (1) Includes 21 branch centers; (2) Includes 6 branch cent
Slide 25: Acceleration of New Center Openings
Investor and Analyst Meeting October 21 2020 - 25 - Expansion and Diversification in the U.S. and EU 2. Acceleration of New Center Openings U.S. & EU Donor Centers 190 252 314 334 369 43 58 62 66 190 295 372 396 435 2017 2019 2021FC 2023FC 2025FC U.S. centers EU centers Recent acquisitions enable us
Slide 26: Adaptative Donor Commitment Compensation
Investor and Analyst Meeting October 21 2020 - 26 - 2020 2021FC U.S. Strategy Against COVID - 19 3. Adaptative Donor Commitment Compensation Donor Commitment Compensation Donor commitment compensation remained flat until COVID - 19 spread in the U.S. A A B C D Transitory Donor Commitment Compensatio
Slide 27: Leveraging Upward Performance Metrics
Investor and Analyst Meeting October 21 2020 - 27 - +8.4% Monthly Positive Trends in the U.S. Over the Last 5 Months 4. Leveraging Upward Performance Metrics +9.2% Monthly Unique Donors • Exhaustive safety measures have contributed to collections recovery • Global awareness and donor marketing campa
Slide 28: Global Plasma Awareness and Donor Marketing Campaigns (I)
Investor and Analyst Meeting October 21 2020 - 28 - ▪ Campaign: Donor engagement and recruitment ▪ Offline Marketing: Posters, personal stories, mailings, etc. ▪ Online / Influencer Marketing: Facebook, Instagram, Google Ads ▪ External Communications: Press release, radio station interviews,… Severa
Slide 29: Give Your Light: Awareness and Recruitment
Investor and Analyst Meeting October 21 2020 - 29 - Weekly New Donors Website Visits GYL Landing Page Visits Impressions GYL Launch July 1 GYL Enhanced Aug. 3 GYL Performance Metrics Give Your Light: Awareness and Recruitment 5. Global Plasma Awareness and Donor Marketing Campaigns (II) ▪ Raise broa
Slide 30: Continuous Business Optimization: Technology, Labs & Warehouses
Investor and Analyst Meeting October 21 2020 - 30 - 2017 2018 2019 - 9% Increase Volume Through Performance and Standardization 6. Continuous Business Optimization: Technology, Labs & Warehouses 2017 2018 2019 - 1% Annually Plasma Cost per Liter Without Donor Commitment Compensation Plasma Rejects •
Slide 31: Ongoing Expansion Projects
Investor and Analyst Meeting October 21 2020 - 31 - Ongoing Expansion Projects 6. Continuous Business Optimization: Technology and Supply Chain Testing Laboratories Expansion Plasma Warehousing Expansion Plasma Management • All U.S. test labs in GDS • Significant reduction in test turn - around time
Slide 32: Manufacturing Operations
Investor and Analyst Meeting October 21 2020 - 32 - Manufacturing Operations
Slide 33: State-of-the-Art Manufacturing Sites
Investor and Analyst Meeting October 21 2020 - 33 - State - of - the - Art Manufacturing Sites Grifols’ Global Footprint Today Bioscience Manufacturing Operations +4,000 employees in manufacturing sites +450 R&D employees +14,500 employees in plasma operations sites 5 manufacturing sites in 4 countr
Slide 34: Strong Inventory Position and Efficient Supply Chain
Investor and Analyst Meeting October 21 2020 - 34 - Strong inventory management policies have allowed Grifols to build an efficient stockpile over the last 4 years This privileged position enables rapid reaction to market variability and uncertainties like the COVID - 19 2016 2017 2018 2019 +7% Annu
Slide 35: Continuous Manufacturing Improvements
Investor and Analyst Meeting October 21 2020 - 35 - 2016 2019 2016 2019 Manufacturing Cost per Liter Relevant KPIs Over the Last 3 Years Continuous Manufacturing Improvements Immunoglobulin Filling Prod. Manufacturing Employees Number of Unfit Batches 2016 2019 +16% 2016 2019 +31% +0% Albumin Fillin
Slide 36: Digital Transformation Projects
Investor and Analyst Meeting October 21 2020 - 36 - New Ongoing Projects Under Digital Transformation Scope Benefits From Pioneering Technologies Tangible Benefits • Improved productivity • Compliance • Optimization Automatic data sourcing Messaging and alert system Manufacturing Plant Information B
Slide 37: Canada: On the Path Towards Self-Sufficiency
Investor and Analyst Meeting October 21 2020 - 37 - Consulting Agreement New Opportunities for Grifols’ Bioscience Division Canada: On the Path Towards Self - Sufficiency • Help increase plasma awareness through education and marketing campaigns • Manufacture plasma products to promote self - suffic
Slide 38: Grifols' Fight Against COVID-19
Investor and Analyst Meeting October 21 2020 - 38 - Grifols’ Fight Against COVID - 19
Slide 39: Multi-Geographical Response to Global Pandemic
Investor and Analyst Meeting October 21 2020 - 39 - Bioscience Initiatives Multi - Geographical Response to Global Pandemic R&D Plasma Innovation office Proteomic samples – Alkahest and Somalogic 248 active plasma centers IVIG Product Characterization in UCLA Clinical Trials with Gamunex and AAT Hyp
Slide 40: Multi-Disciplinary Response to Global Pandemic
Investor and Analyst Meeting October 21 2020 - 40 - Pathogen inactivation through blue - methylene - process have been transferred to Clayton, NC facilities for use in SARS - CoV - 2 convalescent plasma Bioscience and Diagnostic Main Initiatives Multi - Disciplinary Response to Global Pandemic TESTI
Slide 41: Grifols' Response to Global Pandemic in Record Time
Investor and Analyst Meeting October 21 2020 - 41 - Methylene - blue technique has been used for pathogen inactivation of recovered plasma in Spain A new facility for applying methylene - blue technique to convalescent plasma for direct transfusion was built in less than 3 months Hyper Immunoglobuli
Slide 42: Grifols' SARS-CoV-2 Hyper Immunoglobulin
Investor and Analyst Meeting October 21 2020 - 42 - Grifols’ SARS - CoV - 2 Hyper Immunoglobulin CLINICAL USE H Y PERI M MUNE IMMUNOGLOBULIN ANTI - SARS - COV - 2 I M MUNOGLOBULIN SARS - COV - 2 ANTIBODIES SEPARATION OF PLASMA COMPONENTS PURIFICATION AND VIRAL INACTIVATION AND REMOVAL MANUFACTURING
Slide 43: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 43 - Key Takeaways
Slide 44: Enhancing Plasma Supply and Manufacturing Operations Key Takeaways
Investor and Analyst Meeting October 21 2020 - 44 - Enhancing Plasma Supply and Manufacturing Operations Key Takeaways Plasma Procurement Manufacturing Operations Grifols accelerates investments in new donor centers to reach ~435 by 2025 in the U.S. and Europe Commitment to sustainable growth in pla
Slide 45: Industrial Capacity: Global Scale to Support Business Growth
Investor and Analyst Meeting October 21 2020 Daniel Fleta Chief Industrial Officer Industrial Capacity Global Scale to Support Business Growth and Expansion
Slide 46: Grifols' Global Footprint
Investor and Analyst Meeting October 21 2020 - 46 - Global Scale 1 16 10 5 8 3 2 Global Headquarters R+D+I centers Bioscience division centers Diagnostic division centers Hospital division centers Bio - supplies Division centers Manufacturing plants 4 Grifols’ Footprint GRIFOLS SUBSIDIARIES DISTRIBU
Slide 47: Capital Investment Plan 2018-2022
Investor and Analyst Meeting October 21 2020 - 47 - (*) Includes land and common infrastructures €1,400 M Keep Meeting Future Growing Demand Capital Investment Plan 2018 - 2022
Slide 48: Investing to Support Growth Across Divisions
Investor and Analyst Meeting October 21 2020 - 48 - Investing to Support Growth Across Divisions Main Investments Programs PLASMA SOURCING • Donor centers and testing labs BIOSCIENCE • Organic: NFB - 626 • Acquisitions: Canada DIAGNOSTIC • Geo expansion (IH US) • New opportunities HOSPITAL • IV solu
Slide 49: Bioscience
Investor and Analyst Meeting October 21 2020 - 49 - Bioscience
Slide 50: Plasma Procurement Strategy
Investor and Analyst Meeting October 21 2020 - 50 - More Plasma Donations Increase Labs’ Testing C apacity Focused on Expanding and Diversifying Plasma Sourcing Plasma Procurement Strategy 2020 Donor Centers Network ~320 2025 Donor Centers Network 435
Slide 51: Increasing Fractionation Capacity
Investor and Analyst Meeting October 21 2020 - 51 - Increasing Fractionation Capacity Fractionation Capacity 15 17 21 21 22 22 28 2020 2021 2023 2022 2025 2024 2026 Montreal, Canada (Million liters) New Fractionation Building (NFB) – Clayton, NC x 1.9
Slide 52: New Fractionation Building, Clayton
Investor and Analyst Meeting October 21 2020 - 52 - Project 626 - New Fractionation Building (Twin of NFB) – Clayton, NC Fractionation Capacity
Slide 53: Immunoglobulin Purification Capacity
Investor and Analyst Meeting October 21 2020 - 53 - Continued Expansion to Meet Growing Demand Immunoglobulin Purification Capacity 2026 15 15 16 20 21 26 2020 2021 2023 2022 2025 2024 x 1.8 Lliçà de Vall ( Bcn ), Spain Montreal, Canada Purification and Filling Facility (PFF) – Clayton, NC (Million
Slide 54: Purification and Filling Facility, Clayton
Investor and Analyst Meeting October 21 2020 - 54 - Purification and Filling Facility (PFF) – Clayton, NC Immunoglobulin Purification Capacity A SEPTIC FILLING AREAS UTILITIES YARD
Slide 55: Albumin Purification Capacity
Investor and Analyst Meeting October 21 2020 - 55 - Continued Expansion to Meet Growing Demand Albumin Purification Capacity 2020 2021 2023 2022 2025 2024 2026 16 18 21 21 23 26 26 x 1.6 Montreal, Canada Dublin, Ireland Parets , Spain (Million liters)
Slide 56: Albumin Purification Capacity
Investor and Analyst Meeting October 21 2020 - 56 - Continued Expansion to Meet Growing Demand Albumin Purification Capacity
Slide 57: Alpha-1 Purification Capacity
Investor and Analyst Meeting October 21 2020 - 57 - Reinforcing Grifols’ Leadership Alpha - 1 Purification Capacity 2020 2021 2023 2022 2025 2024 10 12 12 Parets , Spain Future expansions whenever needed
Slide 58: New Grifols Canada Manufacturing Site
Investor and Analyst Meeting October 21 2020 - 58 - North America Operations Diversification New Grifols’ Canada Manufacturing Site Developing a new state - of - the - art plant • Plasma fractionation + purification of IVIG and Albumin + capability for other proteins • In Montreal Technoparc • Addit
Slide 59: North America Manufacturing Sites Diversification
Investor and Analyst Meeting October 21 2020 - 59 - New Grifols’ Canada Manufacturing Site • Surface: 63,146 m 2 • 4 story building with a footprint of 8,114 m 2 (15% of the plot) • Capacity 1.5m liters • Flexible design for future expansion North America Manufacturing Sites Diversification - 3rd si
Slide 60: Diagnostic
Investor and Analyst Meeting October 21 2020 - 60 - Diagnostic
Slide 61: Capacity Expansion and Geographical Diversification
Investor and Analyst Meeting October 21 2020 - 61 - Red Blood Cells Filling line + packaging Gel Cards 2 lines expandable to 5 lines First - Time Manufacturing Immunohematology in the U.S. Capacity Expansion and Geographical Diversification
Slide 62: Hospital
Investor and Analyst Meeting October 21 2020 - 62 - Hospital
Slide 63: Capacity Expansion and Vertical Integration
Investor and Analyst Meeting October 21 2020 - 63 - Anticoagulant for plasma centers Oct. 2019 FDA approved Capacity Expansion and Vertical Integration Murcia Plant Expansion : Plastic + Anticoagulant Murcia p lastic expansion 2 story building 1,540m 2 US Saline Fleboflex ® Luer Fleboflex ® Luer bag
Slide 64: Manufacturing Innovation: Grifols Engineering
Investor and Analyst Meeting October 21 2020 - 64 - Manufacturing Innovation Grifols Engineering ABO 6 50% throughput and fully automated YIM Plasma Recovery Enhancement BCN Supercomputing Center Collaboration for Bioscience manufacturing processes Modelling & Optimization Mondragón University (Spai
Slide 65: Industrial Performance: 2019 European Industrial Excellence Award
Investor and Analyst Meeting October 21 2020 - 65 - Industrial Performance 2019 European Industrial Excellence Award “…The main reason is the impressive success of their no - limits attitude […]. The company has secured a rock solid, leading position in a high - value market segment […]. The company
Slide 66: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 66 - Key Takeaways
Slide 67: Global Scale to Support Business Growth Key Takeaways
Investor and Analyst Meeting October 21 2020 - 67 - Global Scale to Support Business Growth and Expansion Key Takeaways The outstanding commitment of our teams, together with our global footprint and vertical integration has allowed us to maintain operations in all our factories, ensuring the steady
Slide 68: Commercial Strategies: Demonstrating Resilience
Investor and Analyst Meeting October 21 2020 Lafmin Morgan Chief Commercial Officer Commercial Strategies Demonstrating Resilience
Slide 69: Topics for Discussion
Investor and Analyst Meeting October 21 2020 - 69 - Bio Supplies Bioscience Leadership and Successful Track Record Topics for Discussion Diagnostics Hospital
Slide 70: Grifols Has Demonstrated Growth Resiliency Over Time
Investor and Analyst Meeting October 21 2020 - 70 - ( € in millions) Grifols LTM June 30, 2020 reported €5,353m in revenues +11.7% p - o - p Grifols Has Demonstrated Growth Resiliency Over Time Revenue Has Grown at 7.2% CAGR Since 2016 4,050 4,318 4,487 5,099 5,353 2016 2017 2018 2019 LTM +11.7% (*)
Slide 71: 2020 Has Been an Unprecedented Year
Investor and Analyst Meeting October 21 2020 - 71 - 2020 Has Been an Unprecedented Year The Pandemic Has Impacted Several Areas of Healthcare Patients Healthcare Providers Hospitals and Institutions Public and Private Payers Sources: (1) IQVIA data published September 25th, 2020 (US) (2) IQVIA data
Slide 72: Strengthening Our Commercial Portfolio
Investor and Analyst Meeting October 21 2020 - 72 - Strengthening Our Commercial Portfolio U LTRIO P LEX E FlexBag • New flexible container to complement vials and broaden Grifols offering to customers • US launch in 2021 Keep Introducing Innovations to Address Customer Needs
Slide 73: Launch of Fibrin Sealant Globally
Investor and Analyst Meeting October 21 2020 - 73 - Proud to Celebrate the Launch of Fibrin Sealant Globally Enhancing Our Pipeline U.S. VISTASEAL ® Fibrin Sealant Launched November 2019 VERASEAL ® Launched in Germany on October 9, 2020 &
Slide 74: Bioscience
Investor and Analyst Meeting October 21 2020 - 74 - Bioscience
Slide 75: Bioscience Has Continued Sales Growth
Investor and Analyst Meeting October 21 2020 - 75 - Acceleration of Revenue Growth Since 2016 Bioscience Has Continued Sales Growth 6.6% 7.9% 8.0% 8.9% 12.9% 2016 2017 2018 2019 LTM (*) From July 2019 to June 2020 Note: Year - over - year variance as reported in constant currency (CC) for the period
Slide 76: Leading Position in Plasma-Derived Therapies
Investor and Analyst Meeting October 21 2020 - 76 - Leading Position With Core Business of Plasma - Derived Therapies in 2019 Bioscience Growth Fundamentals Remain Strong • Per capita utilization and diagnosis are growing for IG, albumin, and alpha - 1 • COVID - 19 has caused short - term impacts to
Slide 77: Solid Year Over Year Growth and Investing for the Future
Investor and Analyst Meeting October 21 2020 - 77 - • Gamunex ® continues to fuel double - digit revenue growth in 2020 • COVID - 19 impacting plasma collections with an impact on industry IG supply for 2021 • Early customer acceptance of Xembify ® gives us great confidence in the future potential o
Slide 78: Growth Momentum Continues: Hematology
Investor and Analyst Meeting October 21 2020 - 78 - Solid Year Over Year Growth and Investing for the Future Growth Momentum Continues Hematology Immunology Pulmonology Autoimmune/ Neuromotor Hepatology / Critical care • 8.6% year over year growth 2018 to 2019 with an increase of 3% market share • C
Slide 79: Growth Momentum Continues: Acquisitions and Business Development
Investor and Analyst Meeting October 21 2020 - 79 - Solid Year Over Year Growth and Investing for the Future Growth Momentum Continues Hematology Immunology Pulmonology Autoimmune/ Neuromotor • Continue building on our efforts to meet patients' needs around the world including future acquisitions an
Slide 80: Growth Momentum Continues: Hepatology / Critical Care
Investor and Analyst Meeting October 21 2020 - 80 - Solid Year Over Year Growth and Investing for the Future Growth Momentum Continues Hematology Immunology Pulmonology Autoimmune/ Neuromotor • Albumin market shows a solid growth mainly driven by China • Consolidating presence in China with new laun
Slide 81: Commercial Capabilities Are an Essential Asset
Investor and Analyst Meeting October 21 2020 - 81 - Commercial Capabilities Are an Essential Asset for Grifols Growth Momentum Continues For more than 110 years, people throughout the world have relied on Grifols to provide healthcare solutions when and where needed Grifols has an established end -
Slide 82: Deep Knowledge Across Our Therapeutic Areas
Investor and Analyst Meeting October 21 2020 - 82 - Deep Knowledge, Capabilities and Networks Across Our Therapeutic Areas Treating hypovolemia & hypoalbuminemia in different situations: liver disease, cardiac surgery, severe infection, respiratory, and emergency Treating immune deficiencies and aut
Slide 83: Immunology and Neurology
Investor and Analyst Meeting October 21 2020 - 83 - Immunology and Neurology
Slide 84: Immunoglobulins Fuel Growth in 2020 and Beyond
Investor and Analyst Meeting October 21 2020 - 84 - Immunoglobulins Fuel Growth in 2020 and Beyond *Source: Grifols Internal Data September 2020 Xembify ® Expanded Our U.S. IG Portfolio to Meet Large, Unmet Medical Need in PIDD • Gamunex ® - C continues to fuel double - digit growth in 2020 • Xembif
Slide 85: Immunoglobulins: Innovation Fuels Expansion
Investor and Analyst Meeting October 21 2020 - 85 - Investing in Key Growth Drivers Immunoglobulins – Innovation Fuels Expansion Sources: *US PPTA Distribution Data, Source: **Grifols Internal Data August 2020 SID: Secondary Immune Deficiency (not an FDA approved indication in the U.S.) Total U.S. V
Slide 86: Pulmonology
Investor and Analyst Meeting October 21 2020 - 86 - Pulmonology
Slide 87: Grifols Alpha-1 Volume Growth Outpaced the Market
Investor and Analyst Meeting October 21 2020 - 87 - Grifols Alpha - 1 Volume Growth Has Consistently Outpaced the Market Maintaining Alpha - 1 Global Market Leadership 2014 - 2019 CAGR Market: 6.2% Grifols: 7.8% Global Alpha - 1 2019 Market Share Global Alpha - 1 2014 - 2019 Volume Growth (In Grams)
Slide 88: Expanding to New Geographies
Investor and Analyst Meeting October 21 2020 - 88 - Untapped Markets Represent Opportunities for Continued Growth Expanding to New Geographies Grifols alpha - 1 markets Currently under licensing or reimbursement review Turkey Launched in 2017 and quickly growing market France Approved 2019 Australia
Slide 89: Investing for the Future: Alpha-1 Awareness and Testing
Investor and Analyst Meeting October 21 2020 - 89 - Using Innovative Technology We Will Continue to Explore New Opportunities Investing for the Future Empowering Patients with Information Investing in Patient Needs While COVID - 19 has impacted the business, existing programs are in place to facilit
Slide 90: Hepatology and Critical Care
Investor and Analyst Meeting October 21 2020 - 90 - Hepatology and Critical Care
Slide 91: Global Albumin Market Shows Solid Growth
Investor and Analyst Meeting October 21 2020 - 91 - 0 500 1000 1500 2015 2019 Co.1 Grifols Co.3 Others CAGR 15 - 19 5% 8% 10% 9% We Are a Major Contributor to This Growth; Strong Position in Liver Cirrhosis Global Albumin Market Shows a Solid Growth (CAGR 15 - 19 7%) • Physicians clearly see a clini
Slide 92: China Expansion and SRAAS Partnership
Investor and Analyst Meeting October 21 2020 - 92 - • Continue a successful geographical and channel expansion strategy • New key strategic provinces show +19% CAGR 17 - 19 accounting for 81.9% of Grifols overall sales growth • Developing Retail Pharmacy channel shows +56% CAGR 17 - 19 & YTD August
Slide 93: Hematology
Investor and Analyst Meeting October 21 2020 - 93 - Hematology
Slide 94: Opportunity to Build on Our Efforts to Meet Patients' Needs
Investor and Analyst Meeting October 21 2020 - 94 - Opportunity to Build on Our Efforts to Meet Patients Needs Worldwide Legacy of Commitment With the Hematology Community New clinical studies sponsored by Grifols on the key role of pdFVIII/VWF in the evolving treatment paradigms for Patients with H
Slide 95: TAVLESSE Launch Achieved in Germany and UK
Investor and Analyst Meeting October 21 2020 - 95 - TAVLESSE ® (fostamatinib) Launch Achieved in Germany and UK Seeking to Treat More Chronic and Rare Diseases First European non - plasmatic product launch in Bioscience history TAVLESSE ® is welcomed by physicians as new treatment option for chronic
Slide 96: Fueling Growth While Meeting Patient Needs: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 96 - • Strong franchise growing at a double - digit rate with Gamunex ® , Flebogama ® and the launch of Xembify ® • Investing in new data and innovative approaches to improve the patient treatment experience • Hyperimmune portfolio anchored by HyperRab
Slide 97: Diagnostics
Investor and Analyst Meeting October 21 2020 - 97 - Diagnostics
Slide 98: Diagnostic Division Sustainable Growth
Investor and Analyst Meeting October 21 2020 - 98 - Sustainable Growth Over the Last 5 Years The Diagnostic Division Reported €725m Over LTM - 3.9% 6.8% 0.7% 1.1% 1.9% 2016 2017 2018 2019 LTM (*) From July 2019 to June 2020 Note: Year - over - year variance as reported in constant currency (CC) for
Slide 99: Global Leader in Blood Donor Screening
Investor and Analyst Meeting October 21 2020 - 99 - Biomat relies on Grifols’ antigens and molecular assays for plasma testing We are converting all Grifols testing locations to Procleix ® instruments and assays Global Leader in Blood Donor Screening COVID - 19 Has Impacted Blood Collection Numbers
Slide 100: Customer-centric Innovation For Our Top Accounts
Investor and Analyst Meeting October 21 2020 - 100 - Customer - centric Innovation For Our Top Accounts Grifols Has Development Projects and Commercial Plans in Place FDA IND June 2016 CE Mark May 2017 June 2018 FDA May 2020 ZIKA To help protect your privacy, PowerPoint has blocked automatic downloa
Slide 101: Above Market Growth Driven by New Products
Investor and Analyst Meeting October 21 2020 - 101 - Above Market Growth Driven by New Products Growth Rate Accelerating and Surpassing 50 Million Gel Cards Sold B LOOD T YPING 18.5% G ROWTH ( CC ) 2019 VS 2018 G EL C ARDS 50M U NITS SOLD 2019 B EST P ORTFOLIO T O M EET C USTOMER N EEDS
Slide 102: Erytra Eflexis Continues to Drive Our Growth
Investor and Analyst Meeting October 21 2020 - 102 - Erytra Eflexis ® Continues to Drive Our Growth We Almost Triple Number of Erytra Eflexis ® Placement Since Our LTM 600+ S INCE LAUNCH ON Q2 - 2017 I NSTRUMENTS P LACEMENTS C OMPETITIVE C ONVERSIONS C OUNTRIES US L AUNCH +55% To help protect your p
Slide 103: US IH Customer Sites Under Contract
Investor and Analyst Meeting October 21 2020 - 103 - US IH – Over 300 Customer Sites Under Contract Three Major IDN Wins Demonstrates Success Across All Customer Segments DG R EADER N ET IH US M ARKET G ROWTH 50% G ROWTH IN NUMBER OF C ONTRACTED S ITES VS 2018
Slide 104: COVID Testing: An Example of Innovation
Investor and Analyst Meeting October 21 2020 - 104 - COVID - 19 Testing – An Example Of Innovation at Grifols Supporting Healthcare System in Spain Partnering With Hologic Developing Procleix ® SARS - CoV - 2 assay is an example of our innovation and collaboration that expands beyond continents and
Slide 105: Hospital
Investor and Analyst Meeting October 21 2020 - 105 - Hospital
Slide 106: Hospital Strong Growth Through 2019
Investor and Analyst Meeting October 21 2020 - 106 - Revenue Has Grown at 6.0% CAGR Since 2016 Hospital Strong Growth Through 2019 4.5% 3.3% 16.0% 12.1% 3.8% 2016 2017 2018 2019 LTM (*) From July 2019 to June 2020 Note: Year - over - year variance as reported in constant currency (CC) for the period
Slide 107: Clear Path to Strengthening Portfolio for Growth
Investor and Analyst Meeting October 21 2020 - 107 - Clear Path to Strengthening Portfolio for Growth North America Revenue ( Pharmatech + IV Fluids) 2019 2015 7 2016 2018 2017 6 9 30 42 26 Pharmatech 16 IV Fluids ($ in millions) CAGR: 63% NA Pharmatech + IV Fluids 44% NA Pharmatech
Slide 108: Hospital Global Division Progress Interrupted by COVID-19
Investor and Analyst Meeting October 21 2020 - 108 - As Hospitals Continue to Open up Access, a Return to Growth Is Expected Hospital Global Division Progress Interrupted by COVID - 19 2017 - 2019 2020 COVID - 19 Post COVID - 19 • Double - digit growth each year • Sales in N. America surge from 8% t
Slide 109: Bio Supplies
Investor and Analyst Meeting October 21 2020 - 109 - Bio Supplies
Slide 110: Bio Supplies Diversifies the Revenue Base
Investor and Analyst Meeting October 21 2020 - 110 - Revenue Has Grown at 49.9% CAGR Since 2016 Bio Supplies Diversifies the Revenue Base 18.1% 154.9% 54.1% 25.1% 2016 2017 2018 2019 LTM (*) From July 2019 to June 2020 Note: Year - over - year variance as reported in constant currency (CC) for the p
Slide 111: Biological Products for Non-Therapeutic Use
Investor and Analyst Meeting October 21 2020 - 111 - Biological Products for Non - Therapeutic Use Bio Supplies Biopharma Product Portfolio Bioscience Products Therapeutic proteins used as an excipient for cell culture media or drug products: • Immunoglobulins • Albumin • Plasmanate Cell Culture Pro
Slide 112: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 112 - Key Takeaways
Slide 113: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 113 - Key Takeaways Grifols has demonstrated growth resiliency over time 1 The pandemic has impacted several areas of healthcare, however we expect these impacts to be mostly temporary 2 Grifols continues to introduce innovations to address customer nee
Slide 114: China: A Strategic Global Market
Investor and Analyst Meeting October 21 2020 Amarant Martínez VP China Affairs Office China: A Strategic Global Market An Overview on The Grifols and SRAAS Alliance
Slide 115: China's Healthcare Market: Solid Fundamentals
Investor and Analyst Meeting October 21 2020 - 115 - China’s Ability to Manage COVID - 19 Is Prompting an Upward Trend China’s Healthcare Market: Solid Fundamentals 984 3,830 China US x3.9 2018 2020 2022 2024 2026 2028 11,209 15,481 9,555 17,655 11% 8% 2008 74% 2018 18% 71% 18% 16% 68% 16% 2028 31%
Slide 116: Grifols and Shanghai RAAS Strategic Alliance: Post-Deal Structure
Investor and Analyst Meeting October 21 2020 - 116 - (1) Based on DCF and multiples from trading companies and comparable transactions (2) Based on market stock price per agreement (3) Based on market stock price average for 3Q 2020 45% GDS value $4.3bn (1) $1.9bn SRAAS value 26.2% $1.9bn $7.4bn (2)
Slide 117: Shanghai RAAS Overview and Grifols in China
Investor and Analyst Meeting October 21 2020 - 117 - (1) Includes China, Hong Kong SAR, Taiwan and Macao SAR (2) From July 2019 to June 2020 (3) Shanghai RAAS H1 Semi - Annual Report Total Revenue by Protein (3) 30% 42% 10% 18% Albumin IVIG Other Hypers Coagulation Factors Registered products in Chi
Slide 118: Continuous Improvement of Shanghai RAAS Financials
Investor and Analyst Meeting October 21 2020 - 118 - FY2019 1H2020 Net Revenue EBITDA Net Profit 374 Variation vs. 2018 149 88 +43% +45% +$307m 186 98 99 Margin 39.7% 53.0% +1% +23% +$40m Variation vs. 1H19 Margin 23.5% 53.2% ($M) LTM (1) 369 165 127 44.6% +21% +50% +$163m Var. vs. LTM June’19 34.3%
Slide 119: A Growing $5bn Blood Products Market
Investor and Analyst Meeting October 21 2020 - 119 - A Growing $5bn Blood Products Market Albumin (1) Batch Release Jan - Sep 2020; Growths shown YTD Q3 2020 vs YTD Q3 2019 (2) Chinese Pharmaceutical Association (CPA) procurement data Jan - Aug 2020 (3) Grifols Plasma Industry Database Fibrinogen #1
Slide 120: A Collaborative Partnership Focused on Execution
Investor and Analyst Meeting October 21 2020 - 120 - A Collaborative Partnership Working at Full Speed and Focused on Execution Grifols and Shanghai RAAS Set a Solid Foundation INDUSTRIAL : Grifols expertise to develop best - in - class facilities and position SRAAS as the industrial engineering lea
Slide 121: Grifols and SRAAS Alliance Key Takeaways
Investor and Analyst Meeting October 21 2020 - 121 - An Overview of the Grifols and SRAAS Alliance Key Takeaways China is a key strategic market which has grown in importance in the wake of COVID - 19 1 Grifols is uniquely positioned to leverage its localization and strong presence in China 4 Grifol
Slide 122: -
Investor and Analyst Meeting October 21 2020 - 122 -
Slide 123: Innovation Strategy
Investor and Analyst Meeting October 21 2020 David Bell Chief Innovation Officer Innovation Strategy Innovative Response to the Development of New Therapeutics
Slide 124: A Recognized Leader of Innovation Since 1909
Investor and Analyst Meeting October 21 2020 - 124 - A Recognized Leader of Innovation Since 1909, Dedicated to Developing Innovative Healthcare Research and innovation has been in our DNA for more than 110 years We are a company founded on Plasma Therapeutics We are a company grounded in Plasma Sci
Slide 125: Open Innovation Ecosystem
Investor and Analyst Meeting October 21 2020 - 125 - Co - innovation programs Collaborations with leading research cent. Participation in research companies Scholarships & awards Strategic alliances Academic collaborations Sponsorship of research programs Digital innovation Grifols Innovation Office
Slide 126: Collaborative Approach Without Boundaries
Investor and Analyst Meeting October 21 2020 - 126 - Continuous Efforts to Enhance Therapeutic and Diagnostic Solutions Collaborative Approach Without Boundaries (1) From July 2019 to June 2020 2016 2017 2018 2019 LTM 295 311 291 329 328 Grifols R&D sites Los Angeles, Emeryville, San Diego and San C
Slide 127: Our Scientific Mission
Investor and Analyst Meeting October 21 2020 - 127 - Our Scientific Mission The Plasma Proteome: Source of Therapeutics Comprehensive Discovery and Development Platform Delivering Transformational Therapeutics
Slide 128: The Plasma Proteome Is the Highway of the Body
Investor and Analyst Meeting October 21 2020 - 128 - The Plasma Proteome Is t he Highway of the Body Plasma Proteomics Is Our Foundation To help protect your privacy, PowerPoint has blocked automatic download of this picture. Circulating plasma carries proteins from and to every tissue
Slide 129: Plasma Proteomics Is Our Foundation
Investor and Analyst Meeting October 21 2020 - 129 - Continuous Efforts to Enhance Therapeutic and Diagnostic Solutions Plasma Proteomics Is Our Foundation Plasma Proteome New Plasma Proteins New Utilities for Plasma Fractions Biomarkers Diagnostics Small Molecule Drugs Recombinant Proteins Recombin
Slide 130: Pipeline Focused on Core Therapeutic Areas
Investor and Analyst Meeting October 21 2020 - 130 - Combined Approach of Collective Efforts Pipeline Focused on Core Therapeutic Areas Bleeding Disorders Stroke Wound Healing Cirrhosis Acute Chronic Liver Failure PID SID CIDP Infectious Diseases Oncology MG Alpha - 1 Deficiency Bronchiectasis Infla
Slide 131: Milestones of Rigorous Scientific Research: The AMBAR Project
Investor and Analyst Meeting October 21 2020 - 131 - Milestones of 15 Years of Rigorous Scientific Research The AMBAR Project AMBAR findings demonstrate efficacy to stabilize Alzheimer in treated patients December 2018 March 2019 Beyond 11 th Clinical Trials on Alzheimer’s Disease (CTAD) Congress Ba
Slide 132: Grifols COVID Efforts
Investor and Analyst Meeting October 21 2020 - 132 - Grifols COVID - 19 Efforts Bioscience and Diagnostic Collaboration Bioscience Diagnostic TMA (Transcription - Mediated Amplification) molecular test to detect the SARS - CoV - 2 virus in plasma, blood and respiratory samples . We are also making p
Slide 133: Therapies Born From the Science of Aging
THERAPIES BORN FROM THE SCIENCE OF AGING ® Karoly Nikolich Alkahest’s CEO
Slide 134: New Promising Horizons: Value and Scope of the Transaction
Investor and Analyst Meeting October 21 2020 - 134 - New Promising Horizons Value and Scope of the Transaction New plasma therapeutics Products beyond plasma Create a new generation of products - derived from understanding the plasma proteome Goal Add value to current Grifols products What Scientifi
Slide 135: Chronokines: Proteins That Change With Age
Investor and Analyst Meeting October 21 2020 - 135 - Chronokines : Proteins With Biological Impact that Change With Age Therapeutic Candidates Mining ~ 9,000 Plasma Proteins Supplement Beneficial Chronokines Antagonize Detrimental Chronokines • Antibodies • Small Molecule Inhibitors • Extracorporeal
Slide 136: Protein Trajectories During Healthy Aging and Disease
Investor and Analyst Meeting October 21 2020 - 136 - Protein Trajectories During Healthy Aging and Disease Therapeutic Candidates 60+ diseases 23,566 mechanistic connections Healthy A ging A Range of Protein Changes During A ging Age - related Disease Lehallier , B. … Wyss - Coray , T. Nature Med. 2
Slide 137: Chronokines: Therapeutic Candidates
Investor and Analyst Meeting October 21 2020 - 137 - Chronokines : Proteins With Biological Impact that Change With Age Therapeutic Candidates AKST1210 AKST1200 AKST1220 AKST1260 AKST1250 AKST4290 GRF6019 GRF6021 Protein increasing with age DETRIMENTAL CHRONOKINES: Small molecule blockers as therape
Slide 138: Mining the Science of Chronokines: Research Pipeline
Investor and Analyst Meeting October 21 2020 - 138 - Mining the Science of Chronokines Rich Research Pipeline Biology / Indication Area Preclinical Development Biological Validation Selected Plasma Fractions Peripheral Neuropathy Regenerative Indications Age - Related Disorders CNS Disorders Recombi
Slide 139: Transcriptomics in Individual Cells
Investor and Analyst Meeting October 21 2020 - 139 - Transcriptomics in Individual Cells – High Definition Biology Bioactive Identification Understand B iology in Single Cells Map Pathways Triggered to Plasma P roteins
Slide 140: Single Cell Resolution of Plasma Fraction Biology
Investor and Analyst Meeting October 21 2020 - 140 - Single Cell Resolution of the Biology of Plasma Fraction Precision Biology: Deep Mechanistic Molecularization Identification of single cells in the hippocampus Age - Related Gene Changes Reversed by Plasma Fraction Treatment in Brain Endothelial A
Slide 141: A Platform to Mine the Plasma Proteome
Investor and Analyst Meeting October 21 2020 - 141 - A Powerful Platform to Mine the Plasma Proteome for Therapeutics Strategy for Therapeutic Identification Fraction compositional analysis Use of pre - existing plasma fractions Novel plasma fractions Non - plasma therapeutics “Big Data” AI/ML Clini
Slide 142: The Alkahest Clinical Pipeline
Investor and Analyst Meeting October 21 2020 - 142 - Translating the Science of Chronokines The Alkahest Clinical Pipeline Research Phase 3 Phase 2 Alzheimer’s Disease: Mild to Moderate Alzheimer’s Disease: Severe Parkinson’s Disease with Mild Cognitive Impairment or Dementia Post - Operative Recove
Slide 143: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 143 - Key Takeaways
Slide 144: Innovative Response to Development of New Therapeutics: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 144 - Innovative Response to the Development of New Therapeutics Key Takeaways We are a company founded on Plasma Therapeutics We are a company grounded in Plasma Science Comprehensive discovery and development platform delivering transformational thera
Slide 145: The only thing more inspiring than our past is our future
Investor and Analyst Meeting October 21 2020 - 145 - The only thing more inspiring than our past is our future
Slide 146: Financials: Solid Business Performance. Delivering on Commitments
Investor and Analyst Meeting October 21 2020 Alfredo Arroyo Chief Financial Officer Financials Solid Business Performance. Delivering on Commitments
Slide 147: Highlights Since 2019
Investor and Analyst Meeting October 21 2020 - 147 - • Strategic alliance with Shanghai RAAS in China • In 4Q 2019, debt - refinancing completed for €5,800m, improving terms and conditions significantly • In 2Q 2020, reinforcement of liquidity position up to €1,900m, upsizing the multicurrency revol
Slide 148: Resilient and Positioned to Support Long-Term Growth
Investor and Analyst Meeting October 21 2020 - 148 - Bioscience 78% Diagnostic 15% Hospital 3% Bio Supplies 4% US & Canada 66% Europe 18% RoW 16% By geographical area 4,050 4,318 4,487 5,099 5,353 2016 2017 2018 2019 LTM Total Revenue (€M) By d ivision (1) LTM stands for last twelve months ending Ju
Slide 149: Revenues Evolution by Division
Investor and Analyst Meeting October 21 2020 - 149 - 57 67 167 267 289 2016 2017 2018 2019 LTM 102 106 119 134 129 2016 2017 2018 2019 LTM 692 732 702 734 725 2016 2017 2018 2019 LTM 3,195 3,430 3,517 3,993 4,232 2016 2017 2018 2019 LTM Diagnostic Bioscience Bio Supplies Hospital (1) From July 2019
Slide 150: COVID-19 Temporarily Impacts Our Results: EBITDA and Net Profit
Investor and Analyst Meeting October 21 2020 - 150 - EBITDA (€M) (1) From July 2019 to June 2020 (2) Excluding COVID - 19 impact EBITDA margin (1) Focus on Profitability – COVID - 19 Temporarily Impacts Our Results EBITDA and Net Profit Evolution Net Profit (€M) 1,141 1,219 1,223 1,434 1,317 185 201
Slide 151: Impact of COVID-19 on Plasma Supply and P&L
Investor and Analyst Meeting October 21 2020 - 151 - • Aftermath: expected strong sales growth as solid demand remains • Positive impact on product / geo - mix and pricing • Most of the savings will remain in 2021 and beyond 2020 - 2021 c.€200m sub - activity cost • Related to those fixed costs not
Slide 152: Strengthening Grifols' Balance Sheet
Investor and Analyst Meeting October 21 2020 - 152 - Dec. 2018 Jun. 2020 15.6 9.0 Non - current Assets 72% 3.5 Current Assets 28% 12.5 Cash: 1.0 Liquidity: 1.4 Dec. 2018 Jun. 2020 4.7 Equity 38% 6.5 Non - current Liabilities 52% 12.5 Assets (€Bn) Liabilities (€Bn) 1.3 Current Liabilities 10% Strengt
Slide 153: Senior Debt Refinancing: Amortization Schedule
Investor and Analyst Meeting October 21 2020 - 153 - 300 300 2,982 27 2,536 1,000 58 68 68 68 68 1,973 58 4,170 11 2020 2021 2022 2023 2024 2025 2026 2027 2028 Drawn debt (Pre-Refinance) Drawn debt (Current) Goals Achieved • Tenor: from 4.6 to 7.3 years • Structure optimization: Currency and fixed/f
Slide 154: Strategic Investments Lead to Higher Leverage Ratio
Investor and Analyst Meeting October 21 2020 - 154 - 4.8 4.5 4.4 4.2 4.1 4.4 4.1 4.0 5,906 5,845 5,804 5,725 5,804 5,502 5,274 4,500 4,700 4,900 5,100 5,300 5,500 5,700 5,900 3.5 3.7 3.9 4.1 4.3 4.5 4.7 4.9 5.1 5.3 5.5 1Q2019 2Q2019 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 Strategic Investments Lead to Hi
Slide 155: Capital Allocation
Investor and Analyst Meeting October 21 2020 - 155 - Capital Allocation
Slide 156: Capital Allocation
Investor and Analyst Meeting October 21 2020 - 156 - Investments Acquisitions Shareholders Distribution 1 2 3 Capital Allocation CAPEX Innovation Global expansion Innovation Strategy Dividends Capital Discipline Focused on Supporting Growth and Creating Value Capital Allocation
Slide 157: Capex and Innovation
Investor and Analyst Meeting October 21 2020 - 157 - Innovation (€M) 2016 2017 2018 2019 LTM €1,500m in 5 years 268 271 252 332 326 2016 2017 2018 2019 LTM Capex (€M) €1,450m in 5 years Investments Acquisitions Dividends 1 2 3 295 311 291 329 (1) From July 2019 to June 2020 (1) (1) Supporting Growth
Slide 158: Acquisitions: Alkahest and Shanghai RAAS Alliance
Investor and Analyst Meeting October 21 2020 - 158 - • Grifols to acquire the remaining equity of Alkahest (55%) for $146m • Its protein - targeted assets and non - plasma derived therapeutics projects can enable Grifols to diversify whilst retaining its focus on the science of plasma March 27, 2020
Slide 159: Shareholders Distribution
Investor and Analyst Meeting October 21 2020 - 159 - 0.18 0.18 0.18 0.20 0.20 0.13 0.14 0.16 0.15 0.16 0.04 2015 2016 2017 2018 2019 Interim Final No recurrent • Strong earnings profile • Accumulated annual dividend up by 4.1% over the last 5 years • More than €1.2bn returned to shareholders over th
Slide 160: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 160 - Key Takeaways
Slide 161: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 161 - We are more committed than ever to our values and to our stakeholders. Taking all the necessary steps to further strengthen our solid business performance. Driving long - term sustainable growth across all divisions despite extraordinary times Bus
Slide 162: Long-Term Success Leveraging on Innovation
Investor and Analyst Meeting October 21 2020 Víctor Grífols Deu Co - CEO Long - Term Success Leveraging on Innovation
Slide 163: Long-Term Success Based on Four Strategic Pillars
Investor and Analyst Meeting October 21 2020 - 163 - Long - Term Success Is Based on Excelling in Four Strategic Pillars Long - Term Success in Plasma Industry Plasma Procurement Vertical integration of plasma sourcing to ensure growth by securing safety & undisrupted supply Engineering & Manufactur
Slide 164: Four Strategic Pillars: Expansion Track Record
Investor and Analyst Meeting October 21 2020 - 164 - Plasma Procurement Vertical integration of plasma sourcing to ensure growth by securing safety & undisrupted supply Engineering & Manufacturing Highest manufacturing & engineering standards Commercialization Customer centric approach in all geogra
Slide 165: Innovation Is Now at the Center of Long-Term Success
Investor and Analyst Meeting October 21 2020 - 165 - Innovation Is Now at the Center of Grifols Long - Term Success Innovation Pillar 30% of current growth already coming from new products (i.e. Xembify ® , Fibrin Sealant ® , Tavlesse ® , etc.) Holistic approach to grow beyond plasma in our core Bio
Slide 166: Actions in Strategic Pillars With Impact in Performance
Investor and Analyst Meeting October 21 2020 - 166 - Actions in Strategic Pillars With Impact in Performance Short - Term – Bioscience (LTM, at CC) 113 100 Dec. 16 8.4% 7.4% 1 Dec. 17 Dec.18 Dec. 19 134 Jun. 20 China Partnering for self - sufficiency Next Gen Innovation AMBAR Indexed figures of LTM
Slide 167: COVID Outbreak Has Pushed Grifols to Greater Excellence
Investor and Analyst Meeting October 21 2020 - 167 - COVID - 19 Outbreak Has Pushed Grifols to Greater Excellence Short - Term – Group (LTM, at CC) 1 Indexed figures of LTM Revenues & EBITDA at CC 1 CAGR 1. Reported figures. Excluding plasma sales to 3rd parties; 2. CAGR Dec.16 - Apr. 20 100 7.5% 2
Slide 168: Key Takeaways
Investor and Analyst Meeting October 21 2020 - 168 - Key Takeaways As plasma recovers , we will be stronger to deliver incremental results Now is the time for Innovation to achieve same level of excellence as in the other 3 pillars Short Term Long Term Plasma Procurement Engineering & Manufacturing
Slide 169: Signatures
Investor and Analyst Meeting October 21 2020 - 169 - SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized. Grifols, S.A. By: /s/ David I. Bell Name: David I. B