CONSOLIDATED FINANCIAL STATEMENTS for the period from 1 July 2020 to 30 June 2021 Completeness and accuracy of personnel expenses of the professional squad We refer to the information in the notes to the employment contracts with their remuneration consolidated financial statements under explanatory components and amounts as well as individual notes to the statement of comprehensive income termination agreements. We checked the (Section (20) Personnel expenses). consistency of contracts deliberately selected according to certain risk criteria with the THE CONSOLIDATED FINANCIAL STATEMENT RISK corresponding salary calculations. For the selected Among other expenses, the salaries of the contracts, we checked to what extent contractually professional squad are disclosed under personnel agreed conditions now apply for the variable expenses in the consolidated financial statements remuneration components. Furthermore, we of Borussia Dortmund. These include, besides examined whether events had occurred that would the base salaries, also performance-related have resulted in higher expenses. In terms of agreed remuneration, such as appearance bonuses and special or one-off payments, we examined whether annual performance bonuses, as well as individual personnel expenses were recognized in the proper special payments. Due to individually agreed period regardless of the payment date. remuneration components and remuneration amounts, there is generally the risk for the OUR OBSERVATIONS consolidated financial statements that the The individually agreed remuneration components personnel expenses of the professional squad and compensation amounts were appropriately were not completely reported or not reported at recognized as personnel expenses of the the correct amount. professional squad. OUR AUDIT APPROACH Our audit procedures in particular included an inspection and assessment of the currently valid 227