. MILLION € 2016/17 2017/18 Variation Revenues (excluding results on the sale of fixed assets) 674.6 750.9 +11.3% EBITDA 137.8 147.2 +6.8% Pre-tax profit 26.3 43.0 +63.7% Net profit 21.4 31.2 +45.9% Net worth at 30 June 463.5 494.5 +31.0 Cash balance at 30 June 178.0 190.1 +12.1 Net debt at 30 June -10.3 -107.0 -96.7 Debt/ebitda ratio 0.0x 0.0x - Debt/net worth ratio 0.0x 0.0x -

The Real Madrid C. F. Board of Directors, who met on the evening of the 6th of September, have agreed to call the Ordinary General Assembly for the 23rd of September 2018 in order to, among other issues, submit the financial results for the 2017-2018 season for approval.The 2017/18 campaign saw the football first team clinch the Champions League title for a third consecutive year, the fourth time in five years. They also won the Club World Cup and the European and Spanish Super Cups. The basketball team won the Euroleague and the ACB League. The result of all of this has been increased revenues, but also greater expenses, particularly in terms of bonuses to sports personnel., some 11.3% higher than the previous year. The figure represents an increase of 76.3 million euros, the largest rise the club has enjoyed in a financial year since 2000.Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 147.2 million euros, 6.8% better than last year. Without the effects of the trophy successes, EBITDA for 2017/18 would have been 170 million euros.Profits before taxand with tax considered, net profits sit at 31.2 million euros, 45.9% up on the last financial year, and as a result, net worth rises to 494.5 million euros, 31.0 million higher than last year.Cash balance is 190.1 million euros, 12.1 million up on last year.The club still has no debt, with the net figure being negative for the third consecutive year. It sits at -107.0 million euros at 30 June 2018, representing what is in reality, rather than debt, a position of net liquidity. The increase in net liquidity on last year is € 96.7m, the greatest reduction to debt achieved by the club in the last 15 years. With that, the debt over EBITDA and over net worth ratios have remained at zero, reflecting a position of maximum solvency.Real Madrid's contribution to tax revenues and Social Security rises to 285.4 million euros.Revenue forecasts for the 2018-2019 season sit at 752.0 million euros prior to the sale of assets, as well as pre-tax profits of some 43.2 million euros.Furthermore, there will be an Extraordinary Assembly called in which authorisation to contract debt in order to fund the Santiago Bernabéu renovation works will be submitted for approval by the Board of Directors.