The 4th official holds up a board telling you how many minutes are added. The ref can extend that time if a team has a scoring chance or if he feels a team was excessively wasting time while the ball was out of play. The ref doesn't need to say what the penalty is for (like in football) because the fouls only happen around the ball and are obvious to most spectators. And, hyperbole aside, there are only 11 players per side, let's not get carried away. People who complain about soccer being boring should watch the last day of last year's EPL season, it was the most epic comeback in sports history.