1. © 2012 KPMG Global Services Private Limited, a company incorporated under the laws of India and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 0 AAS@KGS Second Quarter Update - FY 2013 Welcome to “AAS @ KGS”, the quarterly feature of the Accounting Advisory Services (AAS) team at KPMG Global Services. Our quarterly global newsletter will highlight the key engagements delivered from KGS during the quarter, feature stories on our team members, and initiatives to grow the team globally. Introduction to Quarterly Newsletter The KGS team has been significantly involved in supporting a Colombian airline client prepare for an F-1 filing with the SEC. The KGS team has been responsible for three major workstreams: 1) IFRS financial statements, which includes completing the IFRS disclosure checklist, identifying disclosure gaps, and drafting the IFRS financial statements and footnotes; 2) F-1 readiness research, which includes researching best practice disclosures by industry peers and researching SEC comment letters to identify common pitfalls; 3) F-1 preparation, which includes drafting the MD&A section for the IPO filing. The AAS team at KGS is comprised of Chartered Accountants in India and has experience in working on technical accounting and transactional advisory engagements in IFRS, US GAAP, UK GAAP and Indian GAAP. The primary service offerings delivered by the team include, but are not limited to: Accounting change services Post deal reporting IPO Sell side advisory Financial statement preparation For more information about the team’s experience and service offerings, visit the AAS page on the KGS Portal at: http://portal.ema.kworld.kpmg.com/Adv/Pages/KGS/KGS_R C_Tab2.aspx Introduction to the AAS team at KGS Accounting Change Services The KGS team has been involved in the development of the KPMG Leasing Tool and in executing on a lease tool engagement for a major US consumer products company. The lease tool development support has included developing lease accounting models based on a variety of common and complex lease terms under existing GAAP and the proposed standard. On the leasing tool engagement, the KGS team has worked closely with the US team to assist the client with managing the input of leases into the tool, answering client inquiries about the tool, and managing the migration of large quantities of data. IPO Netherlands AAS joining KGS team The Netherlands AAS practice has agreed to sponsor 2 dedicated resources at KGS – one to support the financial services practice and one to support the corporate practice. During FY12, the AAS team at KGS delivered several pilot engagements for the Netherlands practice, primarily focusing on IFRS. As a result of these pilot engagements, the Netherlands will be adding resources to the AAS team at KGS. We anticipate these resources will be joining our team during Q3 FY 13. Welcome Netherlands! The KGS team can support your Accounting Change Service projects, including accounting standards implementations. The team has experience with the convergence projects, including leasing, revenue recognition, consolidation and financial instruments, and new IFRS standards, including IFRS 9 and 10. The KGS team can support your IPO engagements. The team has experience with drafting the financial statements and MD&A, drafting accounting position papers, and preparing audit documentation. KGS also has support service teams which can support KPI benchmarking and IPO model build, which the AAS team can help engage. US AAS team at KGS The US AAS team now has a new lead - Julien Hontang. Julien arrived in India on March 20 and has spent the last 2 weeks getting to know the team and transitioning into his role. The team is excited to have Julien here and is looking forward to a strong second half of the year under his leadership. We also take this opportunity to thank and bid adieu to Cameron Gwinn who has spent a great 18 months working with the KGS team and helping it grow from strength to strength. UK AAS team at KGS The UK AAS team had started in August 2010 and currently comprises of 3 team members – Chetan Hans, Himanshu Gupta and Sourav Chatterjee. In UK, we have four AAS groups each sitting in a different vertical. At present KGS is working with the AAS – Risk Consulting. At the initiative of Andrew Milner - partner AAS – Risk consulting, Chetan Hans is travelling to UK to present a SWOT analysis of leveraging KGS to the other three groups. Given KGS past history of timely and qualitative delivery, the results are already showing through increase in the work flow from the other teams.

2. © 2012 KPMG Global Services Private Limited, a company incorporated under the laws of India and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 1 AAS@KGS First Quarter Update - FY 2013 The KGS team supported a UK client with an analysis of a public-private partnership and analyzed the arrangement under IFRIC 12. The team documented the IFRIC 12 considerations related to the arrangement, and performed a detailed review of the bid price model to ensure accounting compliance. The KGS team also drafted an inquiry sent to DPP to clarify an accounting issue identified. The KGS team has also worked extensively with FDD/TS team in UK and US on specific accounting queries as part of due diligence engagements. For instance KGS worked with the UK AAS team to prepare a detailed GAAP analysis for a real estate client from UK GAAP to US GAAP/IFRS as part of an FDD engagement. The KGS team liaised with the onshore FDD team with queries on their current accounting practices and the generally accepted principles in the real estate industry. Technical Accounting The KGS team worked with the US AAS team on a post deal reporting engagement to assist an automotive client analyze a potential transaction. The KGS team drafted the business combinations memo which documented the calculation of the purchase price, identified the components of the considerations transferred and distinguished the assets and liabilities to be acquired in the transaction. The deal was funded through a credit agreement, and KGS performed an analysis of the embedded derivatives within the agreement and drafted a memo on the accounting conclusions. Post Deal Reporting Service Line Lead Contacts Technical Accounting / ACS Amit Singh – amitsingh1@kpmg.com Post Deal Reporting Samir Malik – samirmalik@kpmg.com IPO Chetan Hans – chetanh@kpmg.com Sell-side Rajesh Gaur – rajeshgaur@kpmg.com The KGS team can support your technical accounting engagements under IFRS, US GAAP, UK GAAP and Indian GAAP. The team has experience across technical accounting topics, including consolidation, revenue recognition, leasing, financial instruments, business combinations, stock compensation and insurance. The team can support with drafting accounting memos, developing conclusions, summarizing contract terms and researching accounting guidance. The KGS team can support your Post Deal Reporting engagements. The team has experience with drafting business combination memos, preparing the purchase price allocation, drafting acquisition disclosure footnotes, preparing pro forma financial information, and identifying and documenting other technical accounting issues related to acquisitions.