BORUSSIA DORTMUNDGmbH & Co. Kommanditgesellschaft auf Aktien, Dortmund REPORT ON EXPECTED DEVELOPMENTS EXPECTED DEVELOPMENT OF THE COMPANY Borussia Dortmund finished the 2020/2021 season As reigning DFB Cup champions, Borussia Dortmund in third place with 64 points, qualifying directly for the will face FC Bayern Munich in this year's DFL Super lucrative group stage of the UEFA Champions League Cup at SIGNAL IDUNA PARK on 17 August 2021. in the coming season. Borussia Dortmund has thus qualified for an international cup competition for the twelfth time in a row since the 2010/2011 season. EXPECTED GENERAL ECONOMIC ENVIRONMENT The expected general economic environment is spectators to return. This will take into account dominated by the ongoing COVID-19 pandemic. The infection rates, which must not exceed 35 cases per strains of the coronavirus already rampant, in 100,000 residents. At anything above this, a particular the delta variant, are hindering efforts maximum of 5,000 spectators will be permitted. to overcome the pandemic. Despite low infection Those who have not been vaccinated or have not rates, progress in vaccinating the population and recovered from COVID-19 must show a negative decisions to roll back restrictions, the pandemic test result. In addition, the health and safety remains ever-present in Germany and around the protocols and social distancing will remain in place. world. Professional football has been heavily Even if these new rules are an improvement on the impacted too, and must continue to play its part to previous season, the partial return of fans to the overcome the crisis. terraces is closely linked to low infection rates. Thus, although higher income is expected than in the DFL Deutsche Fußball Liga GmbH has published its previous year, it will still be a lot lower and plagued fixture calendar for the 2021/2022 season. The new by far more uncertainties than before the pandemic. Bundesliga season will begin in mid-August 2021, and Borussia Dortmund will make its début at home Commercially successful professional football to Eintracht Frankfurt. operations are no longer limited to just regional or national levels. The team's success in these Income from match operations are directly tied to competitions is very much a focus in all plans. allowing spectators to visit SIGNAL IDUNA PARK. Qualifying for the group stage of the UEFA At the beginning of July 2021, Germany's federal Champions League continues to place Borussia states decided to permit a partial return of fans to Dortmund in a better financial position. Playing and stadiums in time for the new season. The resolution, delivering positive performances in the competition which is initially in force until 11 September 2021, not only generates income, it can also widen the permits stadiums to operate at maximum 50% club's media and brand coverage, which promotes capacity, with the total number of spectators initially the club's interaction with existing fans and capped at 25,000. Approval from the competent encourages others to begin following Borussia authorities is required as a basic prerequisite for Dortmund. The club intends to promote these 78