In light of the losses incurred during the COVID-19 pandemic, the management does not intend to propose to the Annual General Meeting any dividend distribution for financial year 2022/2023. In financial year 2022/2023, Borussia Dortmund offset Borussia Dortmund GmbH & Co. KGaA’s loss carryforwards/net accumulated losses against the revenue/capital reserves so that it can legally once again pay its shareholders a dividend in future financial years, provided it generates the necessary net profits.