BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

This document is a quarterly statement in accordance with section 53 of the Exchange Rules for the Frankfurter Wertpapierbörse and does not constitute an interim financial report within the meaning of International Accounting Standard (IAS) 34. This quarterly statement should be read in conjunction with the Annual Report for financial year 2023/2024 and the information contained therein. That report can be accessed on our website at https://aktie.bvb.de/en/. The accounting policies applied in this quarterly statement are generally based on the same accounting policies applied in preparing the consolidated financial statements for financial year 2023/2024. All amounts presented in this quarterly statement have been rounded in accordance with standard commercial practice, which may lead to slight deviations in the totals. In the interest of readability, this quarterly statement does not differentiate between genders. References to the male gender also apply to all genders. This quarterly statement was not subjected to a review by an auditor.

BUSINESS DEVELOPMENT

LOOKING BACK ON THE FIRST QUARTER OF FINANCIAL YEAR 2024/2025

ATHLETIC PERFORMANCE

Bundesliga

On 24 August 2024, Borussia Dortmund kicked off the 2024/2025 Bundesliga season with a 2-0 home win against Eintracht Frankfurt, and sits in fifth place with ten points after match day five.

UEFA Champions League

Borussia Dortmund began its UEFA Champions League campaign with a 3-0 away win at Belgian league titleholders Club Brugge in the league phase. The new format will then see Borussia Dortmund face Celtic FC, Real Madrid, Sturm Graz, Dinamo Zagreb, FC Barcelona, FC Bologna and Shakhtar Donetsk.

DFB Cup

A 4-1 away win against regional league side 1. FC Phönix Lübeck in the first round of the DFB Cup saw head coach Nuri Sahin and his team advance to the next round, where they will travel to Bundesliga rivals VfL Wolfsburg on 29 October 2024.

QUARTERLY STATEMENT Q1 2024/2025 | 4

BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

DEVELOPMENT OF THE MARKET AND COMPETITIVE ENVIRONMENT

SPONSORSHIPS

Borussia Dortmund again has two kit sponsors for the 2024/2025 season. Evonik Industries AG is the kit sponsor for all international club competitions, friendlies staged abroad and DFB Cup matches. 1&1 Telecommunication SE is the kit sponsor for Borussia Dortmund’s Bundesliga appearances.

The beginning of the 2024/2025 season saw Borussia Dortmund sign three new Champion Partners: Rheinmetall AG (until 30 June 2027), Sparda-Bank West (until 30 June 2029) and Pluto TV Europe GmbH (until 30 June 2025). Pluto TV is also sleeve sponsor in all cup competitions in the 2024/2025 season (UEFA Champions League, DFB Cup and FIFA Club World Cup 2025).

Borussia Dortmund also extended the contracts with its Champion Partners General Logistics Systems Germany GmbH & Co. OHG (GLS; until 30 June 2025), bwin (until 30 June 2028) and ESET (until 30 June 2027).

Borussia Dortmund’s new Premium Partner from the 2024/2025 season onwards is RWE AG (until 30 June 2030).

Contracts were also extended with the Premium Partners Coinbase Germany GmbH (until 30 June 2027) and APOTAL Bad Apotheke (until 30 June 2025).

TRANSFER DEALS

The following players left Borussia Dortmund permanently during the 2024 summer transfer window: Niclas Füllkrug (transfer to West Ham United), Ole Pohlmann (to Rio Ave FC) and Tom Rothe (to 1. FC Union Berlin). In addition, the following players left on temporary transfers for the 2024/2025 season: Youssoufa Moukoko (on loan to OGC Nice), Sébastien Haller (loan to CD Leganés), Salih Özcan (loan to VfL Wolfsburg) and Soumaïla Coulibaly (loan to Stade Brestois). OGC Nice can sign Youssoufa Moukoko on a permanent basis beyond 30 June 2025 by exercising a purchase option on defined conditions.

CAPITAL EXPENDITURE

Borussia Dortmund signed three Germany internationals – Maximilian Beier, Waldemar Anton and Pascal Groß – as well as Guinea international Serhou Guirassy in the summer of 2024. The club also welcomed Brazilian full-back Yan Couto, who is on loan until 30 June 2025. The move will become permanent if certain sporting criteria are met during the 2024/2025 season.

TV MARKETING

DFL Deutsche Fußball Liga GmbH has informed the clubs of the first and second Bundesliga divisions about the expected distribution volume (approximately EUR 1.40 billion; 2023/2024: EUR 1.35 billion) and the corresponding payout dates for the 2024/2025 season. The announced disbursements of the TV funds will allow for a good degree of planning. The tender for the TV rights for the 2025/2026 to 2028/2029 seasons is still ongoing, with the result expected towards the end of 2024.

QUARTERLY STATEMENT Q1 2024/2025 | 5

BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

UEFA also informed the clubs participating in the UEFA Champions League about the expected income distribution from the competition, which will total approximately EUR 2.47 billion in the 2024/2025 season (2023/2024: EUR 2.03 billion). Having qualified for the UEFA Champions League, Borussia Dortmund will receive a portion of the lucrative disbursements. From the 2024/2025 season onwards, UEFA will divide the aforementioned total distribution amount into three pillars: starting fee; performance-related fixed amounts; and value pillar. The UEFA Champions League also has a new format from the 2024/2025 season onwards. A total of 36 teams will play eight matches in a single league phase, signalling a departure from the six matches played under the previous format’s 32-team group stage. The top eight finishers will advance to the round of 16, while the teams finishing in 9th to 24th place will compete in a play-off round to determine who will be the other eight sides in the round of 16.

MATCH OPERATIONS

Borussia Dortmund has already played a total of three Bundesliga home matches to sell-out crowds. Borussia Dortmund again sold the most season tickets in the Bundesliga, at 55,000.

OTHER

Between 19 and 25 July 2024, Borussia Dortmund spent a part of its pre-season in Asia, playing friendlies against BG Pathum United (0-4 in Pathum, Thailand) and Cerezo Osaka (3-2 in Osaka, Japan).

Borussia Dortmund published its eighth sustainability report at the end of September 2024. This is entitled « United by Borussia! Borussia leads the way! » and can be found at www.bvb.de/verantwortung.

QUARTERLY STATEMENT Q1 2024/2025 | 6

BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

POSITION OF THE COMPANY

DEVELOPMENT OF PERFORMANCE INDICATORS

DEVELOPMENT OF FINANCIAL PERFORMANCE INDICATORS

The table below presents Borussia Dortmund’s financial performance indicators – revenue, consolidated total operating proceeds, operating result (EBITDA), result from operating activities (EBIT), net profit/loss for the year, cash flows from operating activities and free cash flow – for Q1 2024/2025 and for the previous year as well as the amounts that were forecast for the financial performance indicators for the full 2024/2025 financial year on 30 June 2024:

Borussia Dortmund Group (IFRS)

RESULTS OF OPERATIONS

During the reporting period, Borussia Dortmund generated revenue of EUR 107,332 thousand (previous year: EUR 102,260 thousand) and consolidated total operating proceeds of EUR 141,340 thousand (previous year: EUR 213,182 thousand). Borussia Dortmund closed out the first quarter of the 2024/2025 financial year with a consolidated net profit of EUR 1,567 thousand, down EUR 50,799 thousand from EUR 52,366 thousand in the previous year. The operating result (EBITDA) amounted to EUR 25,711 thousand, down EUR 53,695 thousand on the prior-year figure of EUR 79,406 thousand. The result from operating activities (EBIT) decreased by EUR 55,215 thousand to EUR 1,182 thousand (previous year: EUR 56,397 thousand).

REVENUE TREND

In the first quarter of financial year 2024/2025, Borussia Dortmund’s revenue increased year on year by EUR 5,071 thousand in comparison with the prior-year period and amounted to EUR 107,332 thousand in the first three months of financial year 2024/2025 (previous year: EUR 102,260 thousand). While merchandising income declined, there was growth in all other revenue streams – primarily advertising income and conference, catering and miscellaneous income.

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BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

Just like in the prior-year period, three Bundesliga home matches were played to sell-out crowds in the first quarter of 2024/2025. Borussia Dortmund’s fixture in the first round of the DFB Cup this reporting period was played to a crowd of roughly 50,000, with a corresponding increase in ticket proceeds. Consequently, the overall income from match operations increased by EUR 374 thousand to EUR 8,100 thousand (previous year: EUR 7,726 thousand).

Advertising income increased in the first three months of the current financial year, rising by EUR 4,896 thousand to EUR 35,903 thousand (previous year: EUR 31,007 thousand). This is due to the significant rise in income generated with Champion Partners, Partners and the two kit sponsors as against the prior- year period.

Income from TV marketing amounted to EUR 39,181 thousand, up by EUR 1,365 thousand from EUR 37,817 thousand in the prior-year period. While income from domestic TV marketing from DFL Deutsche Fußball Liga GmbH declined due to the number of matches played, there was an increase in international TV marketing income from UEFA. The income from the national cup competition remained virtually level.

Income from national TV marketing declined slightly due to the fact that fewer matches were played than in the prior-year quarter. Despite this, the TV marketing payouts to be distributed by DFL Deutsche Fußball Liga GmbH for the 2024/2025 season are likely to increase year on year.

The income from international TV marketing rose, due primarily to the increase in performance-related bonuses received as a result of the UEFA Champions League win this quarter (previous year: no win), and due to the fact that the total distribution for the starting fee in the UEFA Champions League had increased year on year.

Income from merchandising amounted to EUR 10,065 thousand (previous year: EUR 15,497 thousand). The decline by EUR 5,433 thousand is due primarily to the fact that approximately 90,000 special- edition kits from the 2022/2023 season were delivered in the previous year. This effect no longer applied in the reporting period.

Conference, catering and miscellaneous income increased by EUR 3,869 thousand from EUR 10,214 thousand in the previous year to EUR 14,083 thousand in the first quarter of the 2024/2025 financial year. The increase was due primarily to the fact that a portion of the income from hosting matches for the UEFA EURO 24 at SIGNAL IDUNA PARK were not recognised until this quarter. Furthermore, the income generated from player loans, training compensation and the FIFA solidarity mechanism increased significantly year on year, due primarily to the loans of the players Soumaïla Coulibaly to Stade Brestois and Youssoufa Moukoko to OGC Nice.

NET TRANSFER INCOME

Net transfer income amounted to EUR 19,318 thousand (previous year: EUR 82,313 thousand). This includes primarily the transfer proceeds from the departures of the players Niclas Füllkrug (West Ham United), Tom Rothe (1. FC Union Berlin), Paris Brunner (As Monaco) and Ole Pohlmann (Rio Ave FC) as well as subsequent transfer proceeds less residual carrying amounts, other derecognised items and selling costs incurred.

QUARTERLY STATEMENT Q1 2024/2025 | 8

BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

The prior-year figure of EUR 82,313 thousand resulted mainly from the departures of the players Jude Bellingham (Real Madrid) and Thorgan Hazard (RSC Anderlecht) as well as subsequent transfer proceeds less residual carrying amounts, other derecognised items and selling costs incurred.

Consolidated total operating proceeds amounted to EUR 141,340 thousand in the reporting period (previous year: EUR 213,182 thousand). The decline by EUR 71,842 thousand is due primarily to the significantly lower gross transfer proceeds, whereas revenue increased.

Other operating income amounted to EUR 2,829 thousand (previous year: EUR 2,287 thousand).

CHANGES IN SIGNIFICANT OPERATING EXPENSES

COST OF MATERIALS

Cost of materials decreased by a total of EUR 2,618 thousand from EUR 9,308 thousand in the previous year to EUR 6,691 thousand in the first quarter of financial year 2024/2025. While the cost of materials for catering increased by EUR 659 thousand in line with the rise in catering income, the cost of materials for merchandising decreased by EUR 3,277 thousand in line with the decline in merchandising income. The reason is that approximately 90,000 special-edition kits from the 2022/2023 season were delivered in the previous year. This effect no longer applied in the reporting period.

PERSONNEL EXPENSES

Personnel expenses amounted to EUR 58,940 thousand in the first quarter of financial year 2024/2025, down EUR 2,891 thousand from the prior-year level of EUR 61,831 thousand. While personnel expenses in match operations were down, which was due primarily to the decline in special payments, personnel expenses for retail and administration increased. The personnel expenses for youth and amateur football remained virtually unchanged compared to the prior-year quarter.

DEPRECIATION, AMORTISATION AND WRITE-DOWNS

As expected, depreciation, amortisation and write-downs rose by EUR 1,521 thousand to EUR 24,530 thousand (previous year: EUR 23,009 thousand).

QUARTERLY STATEMENT Q1 2024/2025 | 9

BORUSSIA DORTMUND QUARTERLY STATEMENT

from 1 July to 30 September 2024

OTHER OPERATING EXPENSES

Other operating expenses increased by EUR 1,822 thousand from EUR 36,315 thousand to EUR 38,137 thousand in the reporting period. The largest increase, at EUR 3,047 thousand, was recorded in expenses for match operations due to the two additional matches played at SIGNAL IDUNA PARK (semi-final of UEFA EURO 24 and testimonial match for former players Łukasz Piszczek and Jakub Błaszczykowski). Advertising expenses also increased in line with the rise in advertising income, while administrative expenses declined due primarily to lower performance-based remuneration for the general partner. The transfer expenses remained virtually level.

FINANCIAL RESULT

The financial result amounted to EUR 526 thousand in the first quarter of the 2024/2025 financial year (previous year: EUR 2,457 thousand) and includes primarily measurements of non-current receivables and liabilities in accordance with IFRS 9.

TAX EXPENSE

A net tax expense of EUR 141 thousand was generated in the reporting period (previous year: expense of EUR 6,488 thousand). The main reason for the lower tax expense is the EUR 57,147 thousand year-on- year decline in earnings before taxes in the first quarter of 2024/2025.

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