Company: GIFLF
Filing Date: 2025-06-05
Form Type: 6-K
Source: 0001104659-25-056816
Chunk: 10

Company: Grifols SA
Filing Date: 2025-06-05
Form: 6-K
Chunk 10
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 share price appreciation and dividends) against a pre-defined peer group of companies
operating in the biotechnology and pharmaceutical industries.

Following a detailed assessment, Relative TSR
was selected as the most suitable performance metric. This decision was based on its strong alignment with shareholder value creation
and its wide adoption in the market.

Relative TSR directly links a portion
of compensation to the Company's ability to create sustainable value for shareholders, as measured against a relevant peer group. Additionally,
Relative TSR as performance indicators is widely recognized and adopted in long-term incentive plans among leading companies, ensuring
competitiveness and alignment with global standards. Furthermore, this metric provide a clear and measurable framework to assess performance,
which enhances internal accountability and external credibility.

The following payout curve shall apply
to the Relative TSR metric, based on Grifols’ position within the peer group ranking:

| · | Below the 40th percentile (position below 8): 0% payout |

| · | 40th to 60th percentile (positions 8 to 11): 60% payout |

| · | 60th to 75th percentile (positions 12 to 14): 100% payout |

| · | 75th to 85th percentile (positions 15 to 16): 120% payout |

| · | 90th percentile and above: 150% payout |

The peer group has been selected to reflect
companies that: (i) operate on a global scale in the biotech or pharma sectors, (ii) develop and commercialize end-to-end drug solutions
or excipients, (iii) are comparable in terms of business model and geographic presence and (iv) are not involved in medical devices, OTC
products, veterinary medicine, or healthcare services.

The peer group includes entities from two sources:

| i. | Companies included in the ISS P4P peer group for Grifols; and |

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| ii. | Additional Grifols-selected comparables operating internationally or in similar markets and considered 
 relevant to its main business, operating model and investor base.                                      |

This performance measure ensures alignment
between executive rewards and shareholder value, and provides an objective, market-based assessment of long-term value creation.

The peer group used for assessing Relative
TSR includes the following companies: CSL, Lonza, Takeda Pharmaceutical, UCB, Bayer, Biogen, BioMerieux, Genmab, Moderna, Recordati, Eurofins