ADR level I

Grifols launched a Level I American Depository Receipt (ADR) Program in the US in May 2009. An ADR is a negotiable US certificate representing ownership of shares in a non-US corporation. Grifols' Level I ADRs are quoted and traded in US dollars in OTC markets.

Two ADRs represent one common Class A share of Grifols and has the same voting rights. The dividends are equivalent to the Grifols' Class A shares and are paid to investors in US dollars. Dividends are converted into US dollars by the depository bank at the prevailing rate.

The company ADR program is sponsored by Deutsche Bank. As the depository bank, Deutsche Bank performs the following roles for ADR holders:

• Records and maintains the register of ADR holders.
• Is the stock transfer agent.
• Distributes dividends in US dollars.
• Facilitates the proxy voting process and exercises the voting rights on behalf of ADR holders.
• Issues and cancels Grifols ADRs.
• Distributes Annual General Meeting documentation.

Deutsche Bank Shareholder Services
AST
Operations Center
6201 15th Avenue
Brooklyn, NY 11219
USA

E-mail: DB@astfinancial.com

Shareholder Service (toll-free) Tel. (866) 249-2593
Shareholder Service (international) Tel. (718) 921-8137

https://www.adr.db.com/