| Disclosure of entities that are consolidated although entity owns less than half of the ownership interests |
| | | | Entity | | Ownership Interest | | Haema GmbH (1) | | — | | BPC Plasma, Inc (1) | | — | | Plasmavita Healthcare GmbH (2) | | 50 | % | Grifols (Thailand) Pte Ltd (3) | | 48 | % |
| (1) | Potential voting rights associated with repurchase options — which are (i) substantive, (ii) exercisable at the reporting date and (iii) financially feasible — support the conclusion that control is retained over both entities. |
| (2) | Contractual arrangements between shareholders that grant a majority of decision‑making rights, and therefore control over the entity. |
| (3) | The percentage of voting shares held grants a majority of the voting rights and, consequently, control over the entity. |
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| Disclosure of increases and decreases in ownership interests during the period |
In 2025 | i) | Business combinations or other acquisitions or increases in ownership interest in subsidiaries, joint arrangements and/or investments in associates: |
| | | | | | | | | | | | | | | | 31/12/2025 | | | | | | | | | | | | | | % total voting | | | | | | | | | | Consolidation | | % voting rights | | rights following | | Name | | Parent | | Description | | Date | | method | | acquired | | acquisition (1) | | Araclon Biotech S.L. (2) | | Grifols Innovation and New Technologies Limited | | Acquisition | | March and December | | Full consolidation | | 1.27 | % | 77.12 | % | Biotest AG (2) | | Grifols S.A. y Grifols Biotest Holdings, GmbH | | Acquisition | | February, June, September, October | | Full consolidation | | 2.11 | % | 99.25 | % | Biotest MidCo GmbH (formerly Blitz F25-957 GmbH) (2) | | Grifols S.A. | | Acquisition | | March | | Full consolidation | | 100.00 | % | 100.00 | % | Biotest Management GmbH (formerly Blitz F25-958 GmbH) (2) | | Biotest MidCo GmbH | | Acquisition | | March | | Full consolidation | | 100.00 | % | 100.00 | % | Grifols Canada Plasma, Inc. (formerly Canadian Plasma Resources Corporation) | | Grifols Canada Plasma II Inc. | | Acquisition | | November | | Equity method | | 50.10 | % | 50.10 | % |
| (1) | Percentage corresponding to the direct and indirect stake of the next higher parent company in the subsidiary/associate. |
| ii) | Decrease in ownership interests in subsidiaries, joint arrangements and/or investments in associates or other similar transactions: |
| | | | | | | | | | | | | | | | 31/12/2025 | | | | | | | | | | | | | | % total voting | | | | | | | | | | | | % voting rights | | rights in entity | | | | | | | | | | Consolidation | | disposed of or | | following | | Name | | Parent | | Description | | Date | | method | | derecognized | | disposal (1) | | Biotest (UK) Ltd. | | Grifols UK Ltd. | | Merged | | February | | Full consolidation | | 100.00 | % | — | % | Medcom Advance, S.A. | | Grifols Innovation and New Technologies Limited | | Dissolved | | February | | Equity method | | 45.00 | % | — | % | Biotek America LLC (“ITK JV”)(2) | | Grifols Bio North America LLC | | Dissolved | | February | | Joint operation | | 75.00 | % | — | % | Grifols Pyrenees Research Center, S.L. | | Grifols Innovation and New Technologies Limited | | Dissolved | | March | | Full consolidation | | 100.00 | % | — | % | Grifols Colombia, Ltda | | Grifols, S.A. | | Dissolved | | December | | Full consolidation | | 100.00 | % | — | % |
| (1) | Percentage corresponding to the direct and indirect stake of the next higher parent company in the subsidiary/join operation. |
| (2) | In February 2025, the contractual agreement that provided the Group joint control over Biotek America LLC — previously classified as a joint operation — came to an end. Consequently, from that date onwards, the Group ceased recognizing its share of the assets, liabilities, income, and expenses associated with said joint operation (see Note 10). |
In 2024: | i) | Business combinations or other acquisitions or increases in ownership interest in subsidiaries, joint arrangements and/or investments in associates.: |
| | | | | | | | | | | | | | | | 31/12/2024 | | | | | | | | | | | | | | % total voting | | | | | | | | | | Consolidation | | % voting rights | | rights following | | Name | | Parent | | Description | | Date | | method | | acquired | | acquisition (1) | | Grifols Pyrenees Research Center, S.L. | | Grifols Innovation and New Technologies Limited | | Acquisition | | July | | Full consolidation | | 20.00 | % | 100.00 | % | Haema Plasma Kft. | | Grifols Worldwide Operations Limited | | Acquisition | | October | | Full consolidation | | — | % | 100.00 | % | Grifols Malaysia SDN BHD (2) | | Grifols Asia Pacifit Pte Ltd | | Acquisition | | October | | Full consolidation | | 51.00 | % | 100.00 | % |
| (1) | Percentage corresponding to the direct and indirect stake of the next higher parent company in the subsidiary. |
| (2) | The Group acquired 51% of Grifols Malaysia Sdn Bhd in November 2024; however, it already held the majority of the economic and voting rights by virtue of the shareholders’ agreement and a pledge over the shares. |
| ii) | Decrease in ownership interests in subsidiaries, joint arrangements and/or investments in associates or other similar transactions: |
| | | | | | | | | | | | | | | | 31/12/2024 | | | | | | | | | | | | | | % total voting | | | | | | | | | | | | % voting rights | | rights in entity | | | | | | | | | | Consolidation | | disposed of or | | following | | Name | | Parent | | Description | | Date | | method | | derecognized | | disposal (1) | | Biotest Italy, S.R.L. | | Grifols Italia, S.p.A. | | Merged | | January | | Full consolidation | | 100.00 | % | — | % | Biotest Medical, S.L.U. | | Grifols Movaco, S.A. | | Merged | | January | | Full consolidation | | 100.00 | % | — | % | Biotest Farmaceutica LTDA | | Grifols Brasil Ltda. | | Merged | | January | | Full consolidation | | 100.00 | % | — | % | Biotest France SAS | | Grifols France S.A.R.L. | | Merged | | January | | Full consolidation | | 100.00 | % | — | % | Mecwins, S.A. | | Progenika Biopharma, S.A. | | Reclassification due to loss of significant influence | | December | | Equity method | | 24.59 | % | — | % |
In 2023: | i) | Business combinations or other acquisitions or increases in ownership interest in subsidiaries, joint arrangements and/or investments in associates: |
| | | | | | | | | | | | | | | | 31/12/2023 | | | | | | | | | | | | | | % total voting rights | | | | | | | | | | Consolidation | | % voting rights | | following | | Name | | Parent | | Description | | Date | | method | | acquired | | acquisition (1) | | Kiro Grifols, S.L. | | Grifols, S.A. | | Acquisition | | July | | Full consolidation | | 10.00 | % | 100.00 | % | AlbaJuna Therapeutics, S.L. | | Grifols Innovation and New Technologies Ltd | | Acquisition | | October | | Full consolidation | | 51.00 | % | 100.00 | % | Biotest (UK) Ltd. | | Grifols UK Ltd. | | Acquisition | | June | | Full consolidation | | 100.00 | % | 100.00 | % | Biomat Holdings, LLC | | Grifols Bio North America LLC | | Incorporation | | July | | Full consolidation | | 100.00 | % | 100.00 | % | Grifols Plasma Canada - Ontario Inc | | Grifols Canada Plasma II Inc. | | Incorporation | | April | | Full consolidation | | 100.00 | % | 100.00 | % |
| (1) | Percentage corresponding to the direct and indirect stake of the next higher parent company in the subsidiary. |
| ii) | Decrease in ownership interests in subsidiaries, joint arrangements and/or investments in associates or other similar transactions: |
| | | | | | | | | | | | | | | | 31/12/2023 | | | | | | | | | | | | % voting rights | | % total voting rights | | | | | | | | | | Consolidation | | disposed of or | | in entity following | | Name | | Parent | | Description | | Date | | method | | derecognized | | disposal (1) | | Grifols Escrow Issuer, S.A. | | Grifols, S.A. | | Merged | | January | | Full consolidation | | 100.00 | % | — | % | Gripdan Invest, S.L. | | Grifols, S.A. | | Merged | | January | | Full consolidation | | 100.00 | % | — | % | Access Biologicals LLC | | Grifols Bio Supplies, Inc. | | Merged | | April | | Full consolidation | | 100.00 | % | — | % | Chiquito Acquisition Corp. | | Grifols Bio Supplies, Inc. | | Merged | | April | | Full consolidation | | 100.00 | % | — | % | Geotech LLC | | Grifols Shared Services North America Inc. | | Dissolved | | June | | Full consolidation | | 100.00 | % | — | % |
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