i. What were the total expenses for each of the years 2017 to 2020?

ii. How much did the expenses change by in each of the years 2018 to 2020, in dollar and percentage terms? iii. What is the largest expense item? iv. Breakdown the total 2020 and 2019 expenses by item and indicate what dollar amount and percentage amount each item is of the total expenses.

TREASURER'S REPORT TO SHAREHOLDERS REVENUE $500 $480 $460 $440 $454.4 $441,4 $420 $477.9 $506.9 The Packers began their second century with a rebound in operating profit for fiscal 2020. The improvement was attributable to continued growth in revenue along with lower operating expenses in the period. In addition, the recent extension of the NFL's labor agreement with the players will contribute to the consistency of our business over the term of the agreement. As we look forward into fiscal 2021 and the unique challenges the pandemic may pose, we have the financial resources to sustain our business. The Packers are well positioned to support the drive for more championships and exceptional fan experiences. The Green Bay Packers Audit Committee met with our independent accounting firm, Wipfli LLP, to review the results of our annual audit of our March 31, 2020, financial statements. Based on the audit, Wipfli issued an unqualified opinion that our fiscal 2020 and 2019 financial statements are presented fairly in conformity with U.S. generally accepted accounting principles (GAAP). Below are summary financial statements and some highlights from our operations for our 2020 and 2019 fiscal years. Some reclassifications have been made to 2019 amounts to conform to the 2020 presentation. $400 2017 2018 2019 2020 Revenues increased 6.1% to $506.9 million in 2020. National revenue grew 7.9% and local revenue improved by 3.6%, with gameday admissions and concessions, as well as sponsorship and local broadcasting leading the way. EXPENSES Statement of Income 2020 2019 $525 Revenue $thousands $475 $425 National Local $295,971 210,914 $506,885 $274,293 203,650 $477,943 $375 $376,1 $420.9 $477.2 $436,6 $325 2017 2018 2019 2020 226,548 46,510 243,082 63,595 Total revenue Expenses Player costs Team Sales, marketing & fan engagement Facilities, net* General & administrative 66,994 33,429 63,101 66,927 30,466 73,149 477,219 Operating expenses fell 8.5% in fiscal 2020. Increased player signings, transition to a new coaching staff and an increase in our concussion liability reserve in the prior year did not repeat in fiscal 2020, allowing expenses to return to more normal levels. We continue to spend all funds allowable under the salary cap system to build a championship team. Other operating expenses are well-managed and grew at historical rates. We again donated over $10 million toward player safety and a variety of community and social justice initiatives locally and within Wisconsin. 436,582 Total expenses Profit from operations $70,303 $ 724 Net income $34,862 $ 8,368 PROFIT FROM OPERATIONS *Net of lease-obligated contributions from the Green Bay! Brown County Professional Football Stadium District toward the maintenance of Lambeau Field, of $13.2 and $12.5 million in 2020 and 2019, respectively. $80 $60 Millions $40 $20 $65.4 $34.1 $0.7 $70.3 $0 2017 2018 2019 2020 Operating Profit rebounded from $724,000 last year to $70.3 million. As noted before, investments in the roster and team along with the additional expense for the concussion settlement held down operating profit in 2019