MANAGEMENT REPORT For Borussia Dortmund, the potential return of at In the past season, Youssoufa Moukoko, Ansgar Knauff and Steffen Tigges, another three of the least some spectators to SIGNAL IDUNA PARK in club's youth standouts, made the jump to the the 2021/2022 season is a massive opportunity, senior side and helped the team with their youthful in particular to interact directly with fans. Since exuberance. Other talented youngsters are also personal contact has been severely restricted set to make the senior team. during the ongoing COVID-19 pandemic, communicating digitally with fans continues to be Borussia Dortmund maintains close and more important than ever. New digital formats longstanding partnerships with its sponsors. During were and will be created for this reason. This times of crises, this continuity was also a reflection increased focus on digital communications affords of the close and trusting relationships. This is also us the opportunity to strengthen the bonds our evident from the individual solutions that Borussia fans have with the club despite not being able to Dortmund has found with its partners to compensate attend matches, and to grow Borussia Dortmund's for cancelled (hospitality) services. The majority of fan base. This includes the 2021 Virtual Summer (hospitality) services that Borussia Dortmund was Tour, with Borussia Dortmund making virtual stops unable to render due to the ongoing COVID-19 in nine countries across three continents between pandemic were compensated for by means of other 10 and 18 July 2021 to bring the club even closer (advertising) services, meaning that Borussia to and connect with its international fan Dortmund's partners have asserted practically no communities and partners and give all fans (not compensation claims. These good relationships built just) from the nine participating countries the on trust and the solidarity displayed during crises chance to immerse themselves in the world of also provide planning security. Borussia Dortmund. Borussia Dortmund also believes it has good opportunities to adequately replace sponsoring agreements that are set to expire by leveraging its appeal to sign lucrative new contracts. OVERALL ASSESSMENT OF THE RISKS AND OPPORTUNITIES With regard to the risks discussed in this report Thanks to its risk management system, Borussia and the review of the overall risk position, no risks Dortmund is in a position to comply with the were identified in the financial year under review statutory provisions on control and transparency in that could lead to a permanent or material the Company. deterioration in the financial position or financial A review of the risk situation revealed that none of performance of either the Group or its individual the individual risks defined within the risk areas companies. jeopardise the continued existence of Borussia Dortmund. 77