MILLION € 2017/18 2018/19 Variation Revenues (excluding results on the sale of fixed assets) 750.9 757.3 +0.8% EBITDA 147.2 176.3 +19.8% Pre-tax profit 43.0 53.5 +24.4% Net profit 31.2 38.4 +23.1% Net worth at 30 June 494.5 532.8 +38.3 Cash balance at 30 June 190.1 155.7 -34.4 Net debt at 30 June -107.0 -27.1 79.9 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 29th August 2019, have agreed to call the Ordinary General Assembly for the 15th September 2019, in order to, among other issues, submit the financial results for the 2018/2019 season for approval.The 2018/19 campaign saw the football first team clinch the Club World Cup for the third consecutive year. The basketball team won the ACB League and Super Cup. In the fourth quarter, the contract of execution and financing of the Santiago Bernabéu remodelling project was awarded. It will come into effect in the 2019/20 financial year.Operating revenues for the 2018/19 financial year, without taking into account gains obtained through player transfers, have reached 757.3 million euros, some 0,8% higher than the previous year. Business growth compensated for the smaller revenue generated from the Champions League competition.Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached (EBITDA) 176.3 million euros, 19.8% better than last year.Profits before tax have hit 53,5 million euros and with tax considered, net profits sit at 38,4 million euros, un 23,1% up on the last financial year, and as a result, net worth rises to 532,8 million euros, 38,3 million euros higher than last year.Cash balance is 155,7 million euros. Cash flow generated in operations allowed the club to keep a high balance after paying the premiums for sporting achievements last financial year.The club still has no debt, with the net figure being negative for the fourth consecutive year. It sits at -27,1 million euros on the 30th June 2019, representing what is in reality, rather than debt, a position of net liquidity. 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 319,1 million euros.Revenue forecasts for the 2019/2020 season sit at 822,1 million euros, prior to the sale of assets, as well as pre-tax profits of some 41,4 million euros.Furthermore, there will be an Extraordinary Assembly called in which authorisation to take on board, starting on the 1st July 2020, women's football club C. D. Tacón.