1. Unclaimed Property Asset Recovery March 3, 2016 1

2. What is Asset Recovery? Asset Recovery is the reclamation of owed property from a third party that is holding said property in the name of your company or company’s subsidiary  Property can be held in thousands of locations  54 jurisdictions – each county with their own unclaimed property departments, managing their owed properties  Government agencies such as HUD can be in possession of assets owned to your company or its subsidiaries  Foreign entities such as the Bank of Canada and the Australian Securities and Investments Commission could be in possession of your company’s assets 2 March 3, 2016

3. Process Several steps are required to recover funds owed to a company and often times it takes several months for funds to be returned. Below are the high- level recovery steps:  Search property holder databases for unclaimed and abandoned property on a semi-annual basis  Develop a list of potential properties and receive company approval to recover the properties  Initiate a claim for the properties  Submit required documents to the entity holding the property  Receive funds related to recovered properties, record receipt, and deposit checks 3 March 3, 2016

4. Challenges Faced The process for recovering owed properties frequently results in several challenges and, in some cases, rightfully owed funds can never be proven. Below are common challenges faced during the recovery of property:  There are thousands of places which hold unclaimed property  States and municipalities do not list all recoverable properties on their websites or accessible databases  Requirements to prove property can be confusing and convoluted  Property holders are frequently slow to respond, requiring tracking tools to make sure requested properties are not forgotten  Heir finders frequently locate a single, large property which is put on hold so the company cannot claim and require payment upfront to return the property to you 4 March 3, 2016

5. Keys to a Successful Recovery Program The key to establishing a successful property recovery program is to be well organized prior to conducting the recovery and throughout the process. Depending on the jurisdiction, all materials listed below are required by one holder or another to prove ownership of a property:  Completed claim form  Official documentation stating your right to act on the company’s behalf  Proof of address (utility bill, cable bill, tax return, etc.)  Proof subsidiary is owned by your organization  If the subsidiary is dissolved, proof of dissolution  Proof of merger  Driver’s license or government issued ID with photo  Business card  Original instrument (cashier’s check, coupon, traveler’s check, etc.) 5 March 3, 2016

6. SUMMARY The intention of property holders is to protect the property until the rightful owner comes forward to claim the property. It is not uncommon for you to provide documentation you feel satisfies the property holders request only to learn later the property holder will not accept your documentation. Developing a good relationship with the property holders is imperative for an on-going property recovery program. Often time’s when the process becomes too tedious firms will hire specialty firms to handle all recoveries for a commission based fee. 6 March 3, 2016