MARKETING & COMMERCIAL ANNUAL REPORT

This season, the market was better established, increasing revenue in what seems to be the end of a complicated period for the Spanish market from a commercial and financial viewpoint.

LaLiga has worked to grow its commercial content for companies exploiting its resources and rights to the full and increasing its activations, products and services portfolio developed directly and indirectly in member Clubs and Public Limited Sports Companies (SADs) by the different sponsors.

We have worked with the sponsors so that investments in the exploitation of sponsorships are done on LaLiga's media (TV, experiences in Liga BBVA and Liga Adelante stadiums, events with players, ticketing, etc.) having carried out in the whole season over 300 activities with Liga BBVA and Liga Adelante member clubs, with many of those activities having been held abroad. p>

Namely, clubs' turnover for the granting of advertising space, rights for activities and hospitality amounted to over €5 million, 60% more than in the previous season.

Equally, turnover resulting from sponsorship and licences contracts grew approximately by 12%, going from the €34 million last season to nearly €38 million in 2014/2015 season.

Therefore, we have a scenario of optimisation of the current sponsorship and licences exploitation, that explores a new field of opportunities, with massive and highly impacting media on the football target audience, generating activity beyond the classical plans developed till date and that aims to strengthen the relationship with the collaboration companies and to increase small market niches, unexplored until now.

LaLiga's objective is to consolidate a sponsorship program, with a portfolio of companies from the most relevant and influential sectors in society.

Joining those large companies makes it possible for LaLiga's brand to be present during their whole communication and promotion campaign, generating great brand value.

The first rounds of the 2014/2015 season were the beginning of La Quiniela, which showed lower activity when compared to the 2013/2014 season: 18% less.

That drop meant that LaLiga made decisions that made it possible, throughout the season, to recover most of the losses. In the end, La Quiniela's collection dropped by 10% when compared to the previous season.

Thus, this has been a transitional year, during which the initial sharp drop could be slowed down.

The commission set up last season with representatives from both institutions held regular meetings so that SELAE could take into consideration measures that LaLiga had proposed to increase interest on La Quiniela (increasing the price per bet, having jackpots, investment on clubs' media, new communications, etc.). Some of these measures will be implemented in the 2015/2016 season, considering all the parts which will mark the turning point for new growth.