Automating the Last Mile of Financial Reporting. Financial statement production solutions and the impact on the quality, efficiency and internal control of the financial reporting process. June 16,

PwC Traditional Reporting Processes Company reporting processes have traditionally been highly manual, particularly in the assembly and review steps including: Manual spreadsheet aggregation Manual report assembly Manual queries of sub ledgers Distributed document review Manual validation, tie-outs and consistency checks Centralized and manual workflows 2

PwC Current Manual Assembly/Review Processes ERP Consolidation Supplemental Data 10-Q in Word ERP 10-Q in HTML10-Q in XBRL Outsourced and Bolt-on approaches 1.Linear Document Review 2.Distributed Document Review 3.Manual Assembly via two processes 4.Manual Spreadsheet Aggregation 5.Manual Queries of sub-ledgers Review and Check Review and Check ← Largely unaffected | Affected → 3 Edgar

PwC Built-in Enables Enhanced Processes Applying standards earlier enables streamlined processes ERP Consolidation Supplemental Data ERP Edgar 1.Contextual Review 2.Collaborative Review 3.Automated Assembly via a single process 4.Automated Aggregation 5.Automated Queries of sub-ledgers 4 5 Report Writer 10-Q in XBRL, Word, PDF % to 50%+ cost/time enhancements 4

PwC Factors Impacting Adoption Adoption of Automated Financial Reporting Solutions Technology Maturity XBRL 5

PwC Companies Using Built-In Solution 6

PwC Built-in Impact on Reporting Processes Before Manual spreadsheet aggregation Manual report assembly Manual queries of sub ledgers /Word doc review Manual validation, tie-outs and consistency checks Centralized and manual workflows Manual and implicit relationships with policy and reference materials 7 After Automated spreadsheet population Automated report assembly Direct access to sub ledgers Collaborative workflow review Automated validation, tie-outs and consistency checks Decentralized and manual workflows Automated and explicit relationships with policy and reference materials

PwC XBRL: Bolt-On vs. Built-In 8 Bolt-On Built-In Close the books Word Document HTML Document XBRL Document File Close the books Financial Statement Prep Software Auto-generation of HTML and XBRL File XBRL

PwC Extending the Benefits Process benefits applicable to the accumulation of information, analysis and collaborative review. Rest of 10K and 10Q Press Release Board Packages Analysts Presentations / Fact Sheets Management Reporting Internal Accounting Memo’s Peer Group Benchmarking (numeric and narrative) And others 9

PwC Realizing the Benefits Process Changes of migration to built-in approach Technology Training Process redesign Control redesign Access Workflow Audit trails Validation Rules Changes 10

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