Company: GIFLF
Filing Date: 2025-02-26
Form Type: 6-K
Source: 0001104659-25-017501
Chunk: 62

Company: Grifols SA
Filing Date: 2025-02-26
Form: 6-K
Chunk 62
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 Corporate Risk Committee and assigning its      
 responsibilities to the CEO for day-to-day operations and, when required, to 
 the Executive Committee.                                                     
 The Enterprise Risk Management (ERM) function supports the Audit             
 Committee in overseeing the effectiveness of Grifols’ risk control and       
 management system. The ERM function operates independently of senior         
 management and is responsible for promoting, supporting, coordinating        
 and verifying the application of the Risk Control and Management Policy.     
 In alignment with other risk management initiatives, particularly those      
 led by Sustainability, the ERM function assists the Audit Committee, CEO     
 and Executive Committee in executing day-to-day activities related to        
 the implementation of the risk management infrastructure, framework,         
 approach, risk assessment, continuous monitoring and reporting processes.    
 Both the Board of Directors and the Audit Committee meet periodically        
 with those responsible for managing the company’s main risks, including      
 the heads of Grifols business areas and assurance functions, in addition     
 to external legal advisors and auditors. In 2024, the topics of discussion   
 included cybersecurity, compliance, finance, and sustainability, among       
 others.                                                                      
 The Audit Committee’s oversight also includes guaranteeing the               
 independence of Grifols’ internal audit function, ensuring it has sufficient 
 resources and budget; presentations to the Board of Directors to approve     
 or propose the Internal Audit function’s work orientation and annual work    
 plan, ensuring that its main focus is on relevant risks; receive periodic    
 RISK APPETITE FRAMEWORK                                                      
 As part of Grifols’ risk control and management system, the company          
 developed a risk appetite framework to define acceptable levels of risk      
 in alignment with its business objectives and market context.                
 1. The company identifies its top risks, for which risk appetite is          
 defined.                                                                     
 2. The Board of Directors and senior management establish the risk           
 appetite statements to formally articulate the degree of risk the            
 company’s is willing to accept on identified top risks, using a rating       
 scale from 1 “Averse” to 5 ”Tolerant”.                                       
 3. Risk appetite statements are translated into actionable risk metrics,     
 with thresholds set at operational, tactical, and strategic levels.          
 information on its activities; and verifying that top management takes into  
 account the conclusions and recommendations of its reports.                  
 Additionally, the Sustainability Committee, acting under the auspices of the 
 Board of Directors, is responsible for overseeing and ensuring adherence to  
 the Sustainability Policy and managing the associated risks.                 
 Management                                                                   
 Management’s responsibility