Exhibit (c)(5)

Exhibit 3

CONFIDENTIAL & PRELIMINARY

Project Space

Discussion Materials

26 May 2011

Project Space

CONFIDENTIAL & PRELIMINARY

Disclaimer

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Project Space

CONFIDENTIAL & PRELIMINARY

Table of Contents

Section 1 Earth Trading Performance

Section 2 Preliminary Valuation Analysis

Section 3 Potential Partners

Appendix A Supplemental Materials

Project Space

CONFIDENTIAL & PRELIMINARY

Section 1

Earth Trading Performance

Project Space

I/B/E/S Consensus NTM EBITDA

LTM; 30-Day Rolling Average

Earth Average Share Price

Prem / (Disc)

Period Avg. Price to Current

3 months $15.60 4.9%

6 months $14.83 (0.3%)

9 months $13.93 (6.4%)

12 months $13.57 (8.8%)

52-Week Low $9.95 (33.1%)

52-Week High $16.83 13.1%

CONFIDENTIAL & PRELIMINARY

EARTH TRADING PERFORMANCE

Earth Share Price Performance

Since August 2009 IPO

Share Price Performance $ / share

Note

1. As of May 23, 2011

Project Space

Price Performance (1)

Since IPO 12-Month 6-Month 1-Month

Earth (4.0%) 6.7% 18.6% (5.9%)

HCIT(2) 36.6% 15.3% 19.6% (0.3%)

PBM(3) 47.0% 16.6% 9.2% 7.8%

Payment 51.1% 31.4% 14.6% 2.8%

(4)

Processors

S&P 500 32.5% 21.1% 11.6% (1.5%)

CONFIDENTIAL & PRELIMINARY

EARTH TRADING PERFORMANCE

Historical Share Price Performance

Since IPO

Indexed Share Price Performance (1)

Since IPO

Notes

1. Market data as of May 23, 2011

2. HCIT index includes Cerner, Allscripts, Quality Systems and MedAssets

3. PBM index includes Express Scripts and Medco

4. Payment processors index includes Visa, Mastercard, ADP and Solera Holdings

Project Space

HCIT Peers Historical Averages

Current 1 Year 2 Years 5 Years

Earth 9.2x 8.5x 9.1x NA

CERN 13.2x 10.7x 10.4x 9.4x

MDRX 10.9x 12.7x 14.4x 15.3x

QSII 16.2x 14.1x 14.2x 13.2x

MDAS 9.2x 9.8x 10.8x 11.1x

PBM Peers Historical Averages

Current 1 Year 2 Years 5 Years

Earth 9.2x 8.5x 9.1x NA

ESRX 10.5x 10.3x 10.3x 11.2x

MHS 8.9x 8.6x 9.1x 9.9x

Payment Processors Hist. Avg.

Current 1 Year 2 Years 5 Years

Earth 9.2x 8.5x 9.1x NA

V 7.7x 8.2x 9.7x 10.7x

MA 8.2x 7.2x 7.4x 10.2x

ADP 11.2x 9.6x 9.3x 9.7x

SLH 13.2x 12.2x 11.3x 11.2x

CONFIDENTIAL & PRELIMINARY

EARTH TRADING PERFORMANCE

Historical Trading Multiples

NTM AV/EBITDA (1) 30-Day Rolling Average: Last Five Years (2)

Earth Hist. Multiple Distribution

HCIT Peers

PBM Peers

Payment Processors Peers

Notes

1. Per FactSet and I/B/E/S Consensus

2. Market data as of May 23, 2011

Project Space

Key

Ticker Company Name

AH Accretive Health

ATHN AthenaHealth

CERN Cerner

CPSI Computer Programs and

Systems

HMSY HMS Holdings

MDAS MedAssets

MDRX Allscripts

QSII Quality Systems

CONFIDENTIAL & PRELIMINARY

EARTH TRADING PERFORMANCE

Valuation Correlation to Growth

Earth vs. Comparables Universe

Aggregate Value / EBITDA’s Correlation with Revenue Growth (1)

AV / 2011E EBITDA x

Aggregate Value / EBITDA’s Correlation with EBITDA Growth (1)

AV / 2011E EBITDA x

Price / Earnings’ Correlation with EPS Growth (1)

P / 2011E EPS

Note

1. Current market data as of May 23, 2011; Regression lines exclude Earth

CONFIDENTIAL & PRELIMINARY

Project Space

Section 2

Preliminary Valuation Analysis

Project Space

2011 Management Public

Guidance

• Revenue

– $1.105—$1.135 Bn

• Adjusted EBITDA – $300—$310MM

• Adjusted EPS

– $1.00—$1.06 per share

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

Summary of Earth Financial Projections

Based on Wall Street Research and Revised Management Case (1)

Revenue (2)

Adjusted EBITDA (2,3)

Adjusted Earnings Per Share (2,4)

Levered Free Cash Flow (2,5)

Street 2010

Notes

1. Street Case based on I/B/E/S consensus and Wall Street Research as of May 23, 2011; Revised Management Case based on Earth management guidance

2. 2009A and 2010A are as reported

3. Adjusted for stock based compensation

4. Adjustments include: non-cash interest expense, transaction related amortization and stock based compensation

5. 2011 FCF excludes cash outflow related to $41MM cash acquisition of EquiClaim

Project Space

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

Review of Mars Proposals

$MM, except per share amounts

Offer Date

Metric 3/22/2011 4/1/2011 5/17/2011

Offer Price $18.50 $19.25 $19.50 $20.00 $22.00 $24.00

% increase from 3/22/2011 4% 5% 8% 19% 30%

Equity Value 2,164 2,256 2,287 2,349 2,594 2,840

Aggregate Value $3,057 $3,149 $3,180 $3,241 $3,487 $3,733

1-Day Premium 19% 19% 31% 34% 48% 61%

30-Day Premium 19% 23% 25% 29% 42% 55%

$ Value Premium $353 $325 $568 $601 $840 $1,079

(1) 61% 56% 98% 104% 145% 187%

% of PV of Synergies

(2) 50% 46% 81% 86% 120% 154%

% of Capitalized Synergies

2010A EBITDA Multiple $268 11.4x 11.7x 11.9x 12.1x 13.0x 13.9x

2011E EBITDA Multiple (Street) $303 10.1x 10.4x 10.5x 10.7x 11.5x 12.3x

(3) $403 7.8x 8.1x 8.1x 8.3x 8.9x 9.5x

2011E Post-Synergy EBITDA Multiple (Street)

2011E P/E Multiple (Street) $1.03 18.0x 18.7x 19.0x 19.5x 21.4x 23.4x

(4)

Mars Cash Accretion / Dilution with $100MM Run Rate Synergies

Street Case 2011 7.4% 7.2% 7.1% 7.0% 6.5% 6.0%

Street Case 2012 9.4% 9.3% 9.2% 9.1% 8.7% 8.3%

Revised Management Case 2011 7.5% 7.3% 7.2% 7.1% 6.6% 6.1%

Revised Management Case 2012 9.5% 9.4% 9.3% 9.2% 8.8% 8.4%

(5)

Mars ROIC with $100MM Run Rate Synergies

Street Case 2011 5.3% 5.2% 5.1% 5.0% 4.7% 4.4%

Street Case 2012 6.7% 6.5% 6.4% 6.3% 5.9% 5.5%

Revised Management Case 2011 5.4% 5.2% 5.2% 5.1% 4.7% 4.4%

Revised Management Case 2012 6.7% 6.5% 6.5% 6.4% 5.9% 5.5%

Notes

1. Run rate synergies per management guidance. Synergies discounted at 9% WACC and assumes 50% of run rate synergies in Year 1, 100% of run rate synergies in Year 2 and 0% PGR, and cost to achieve synergies equal to 100% of run rate synergies. Assumes $100MM of run rate synergies (PV of $577MM)

2. Synergies capitalized at 8.0x run rate of $100MM; assumes $100MM cost to achieve

3. Assumes $100MM run-rate synergies in 2011 included in EBITDA and $100MM cost to achieve included in AV

4. Excludes the impact of transaction amortization, stock-based compensation and non-cash interest expense 11

5. ROIC = [(EBITA + Phased in Synergies)*(1 -Tax Rate)] / (Transaction Aggregate Value + Cost to Achieve Synergies)

Project Space

PV of Synergies (10)

$MM, except per share amounts

Total Per Share

$75MM Run Rate $433 $3.74

$100MM Run Rate $577 $4.98

$125MM Run Rate $721 $6.23

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

Preliminary Valuation Summary

As of May 23, 2011

Preliminary Valuation Summary (1,2,3)

Current Stock Price Proposed Offer Price

$ per share $14.88 [$20.00]

Methodology Metric

LTM Trading Range:

10 17

- (High on 04/06/11; Low on 09/09/10)

(4)

1 Analyst Price Targets : FV Median: $16

Future Value $11—$21 11 21

Present Value $10—$19 10 19

PV Median: $15

(5,6)

2 Public Market Trading Multiples :

2011 AV / EBITDA Trading Multiple (8.5x—11.0x) $303MM 15 21

12 15

2011 Growth Adj. EBITDA Trading Multiple (0.85x—1.00x) $303MM / 8.8%

15 21

2011 P / E Trading Multiple (15.0x—20.0x) $1.03

(7)

3 Precedent Transactions : 19 26

HCIT $1Bn+ Deals: 10.0x—12.5x NTM EBITDA $316MM

14 24

Processing $1Bn+ Deals: 8.0x—12.0x NTM EBITDA $316MM

19 22

30%—50% Premium to Current Stock Price $14.88

(8)

4 Illustrative LBO Analysis : 13 17

- 17.5%—25.0% IRR 15 21

- 6.5x LTM Leverage and Exit at Entry Multiple

(8) 16 22

5 Discounted Cash Flow Analysis :

- 8.0x—10.0x Terminal EBITDA; 8.5%—9.5% WACC 18 24

(9) 17 23

6 Discounted Equity Value Analysis :

18 24

Base Case (15.0x—20.0x NTM Net Income) 18 24

Dividend Recap Case (15.0x—20.0x NTM Net Income) 19 24

0 10 20 30 40

Notes

1. All per share values based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

2. Assumes minority interest accounted for by including Class B shares in basic shares calculation

3. EBITDA = “Adjusted EBITDA” which excludes stock-based compensation; EPS = “Adjusted EPS” which excludes non-cash interest expense, deal related amortization and stock- based compensation

4. Per Factset Analyst Price Targets, Present Value discounted back for an illustrative 12 months assuming 10.1% cost of equity

5. Street case based on median I/B/E/S consensus and Wall Street Research; based on a net debt at 3/31/2011 of $893MM (adjusted for EquiClaim acquisition)

6. Growth Adjusted EBITDA = 2011 EBITDA ($303MM) * 2011-2013 EBITDA CAGR * 100 (8.8x)

7. 3/31/2011 NTM EBITDA calculated as 75% of 2011 and 25% of 2012 EBITDA; estimated net debt as of 3/31/2011 of $893MM (adjusted for EquiClaim acquisition)

8. Valuation as of 6/30/2011; estimated net debt as of 6/30/2011 of $865MM for the Street Case and $863MM for the Revised Management Case

9. Discounted to 6/30/11 assuming a 10.1% cost of equity. Recap case assumes incremental debt to reach 4.5x leverage as of 6/30/2011 ($325MM based on LTM EBITDA of $285MM for the Street Case

and $332MM based on LTM EBITDA of $286MM for the Revised Management Case) 12

10.Run rate synergies per management guidance. Synergies discounted at 9% WACC and assumes 50% of run rate synergies in Year 1, 100% of run rate synergies in Year 2 and 0% PGR,

and cost to achieve synergies equal to 100% of run rate synergies. Per share synergies based on current FDSO

Project Space

“Adjusted EBITDA” Estimates $MM

“Adjusted EPS” Estimates $ / share

Maximum Estimate Median Estimate Minimum Estimate

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

1 Equity Research is Neutral to Positive on Earth

Summary Analyst Ratings Summary Analyst Price Targets

14 Analysts 9 Analysts (Median of $16.00)

Source Factset Source Factset

Summary of Investment Considerations

Positives Concerns

•Competitive advantage from unique •Organic growth remains challenging breadth and depth of network

•Continued low levels of healthcare utilization •Long-standing customer relationships

•Increased competition for potential assets may •Strong free cash flow limit growth opportunities

•Acquisitions represent potential upside •Acquisition integration

Note

1. As of May 23, 2011

Project Space

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

2 Comparable Company Analysis

Comparable Company Trading Analysis (1)

$ MM, except per share figures EBITDA AV / Growth -

Equity Aggregate AV/Revenue Rev. Growth AV/EBITDA Growth Adj. EBITDA Price/EPS EPS P/E/G

Share Price Value Value CY2011E CY2012E ‘11-’13 CY2011E CY2012E ‘11-’13 CY2011E CY2011E CY2012E LTG ‘11

Company as of 5/23/11 (Lcl MM) (Lcl MM) (x) (x) (%) (x) (x) (%) (x) (x) (x) (%) (%)

(2) 14.88 1,723 2,616 2.3x 2.2x 6.0% 8.6x 7.9x 8.8% 0.99x 14.5x 12.9x 15.5% 0.93x

Earth

Revenue Cycle

Accretive Health Inc. 23.30 2,442 2,323 2.8x 2.1x 29.3% 27.8x 17.8x 48.5% 0.57x 52.6x 33.3x 30.0% 1.75x

HMS Holdings Corp. 77.47 2,285 2,169 5.8x 4.8x 20.5% 19.9x 16.4x 20.4% 0.97x 44.0x 34.9x 22.7% 1.94x

MedAssets Inc. 14.86 903 1,813 3.1x 2.8x 11.7% 9.4x 8.4x 14.9% 0.63x 15.2x 12.7x 20.0% 0.76x

athenahealth Inc. 45.31 1,644 1,550 5.0x 3.9x 26.7% 25.2x 19.1x 29.9% 0.84x 56.1x 41.4x 34.0% 1.65x

Mean 4.2x 3.4x 22.1% 20.6x 15.4x 28.4% 0.75x 42.0x 30.6x 26.7% 1.53x

Median 4.0x 3.4x 23.6% 22.5x 17.1x 25.2% 0.74x 48.3x 34.1x 26.4% 1.70x

Clincial

Cerner Corp. 121.08 10,927 10,418 5.0x 4.4x 12.9% 15.4x 13.2x 15.4% 1.00x 33.4x 27.9x 20.0% 1.67x

Allscripts Healthcare Solutions Inc. 19.92 3,789 4,092 2.8x 2.6x 10.7% 10.1x 9.4x 16.3% 0.62x 22.1x 18.7x 18.5% 1.20x

Quality Systems Inc. 88.07 2,585 2,467 6.1x 5.1x 15.2% 18.4x 14.6x 22.0% 0.84x 34.0x 27.0x 18.0% 1.89x

Computer Programs & Systems Inc. 61.03 675 649 3.7x 3.3x 9.7% 16.1x 13.8x 14.3% 1.13x 27.6x 23.6x 17.0% 1.62x

Mean 4.4x 3.9x 12.1% 15.0x 12.7x 17.0% 0.90x 29.3x 24.3x 18.4% 1.59x

Median 4.3x 3.9x 11.8% 15.8x 13.5x 15.8% 0.92x 30.5x 25.3x 18.3% 1.65x

PBM

Express Scripts Inc. 59.53 31,850 33,578 0.7x 0.7x 2.9% 11.6x 10.1x 13.2% 0.88x 18.6x 15.1x 18.1% 1.03x

Medco Health Solutions Inc. 63.66 26,080 30,937 0.4x 0.4x 0.6% 9.8x 8.7x 9.2% 1.06x 15.6x 12.8x 17.1% 0.91x

Mean 0.6x 0.6x 1.7% 10.7x 9.4x 11.2% 0.97x 17.1x 14.0x 17.6% 0.97x

Median 0.6x 0.6x 1.7% 10.7x 9.4x 11.2% 0.97x 17.1x 14.0x 17.6% 0.97x

Payment Processors

Visa Inc. 76.92 64,137 60,461 6.4x 5.8x 8.9% 10.1x 9.0x 11.3% 0.90x 15.1x 13.1x 20.0% 0.76x

MasterCard Inc. (Cl A) 271.96 34,767 30,746 4.9x 4.4x 10.7% 8.9x 7.8x 13.5% 0.66x 16.0x 13.6x 20.0% 0.80x

Automatic Data Processing Inc. 53.42 27,102 25,383 2.5x 2.3x 5.9% 11.4x 10.6x 6.8% 1.67x 20.3x 18.6x 11.5% 1.77x

Solera Holdings Inc. 57.50 4,104 4,833 6.8x 6.3x NA 15.6x 14.0x NA NA 22.4x 20.1x 15.0% 1.49x

Mean 5.2x 4.7x 8.5% 11.5x 10.3x 10.5% 1.08x 18.4x 16.4x 16.6% 1.20x

Median 5.6x 5.1x 8.9% 10.8x 9.8x 11.3% 0.90x 18.2x 16.1x 17.5% 1.14x

Mean 4.0x 3.5x 12.7% 15.0x 12.3x 18.1% 0.91x 28.1x 22.3x 20.1% 1.37x

Median 4.3x 3.6x 10.7% 13.5x 11.9x 14.9% 0.88x 22.2x 19.4x 19.3% 1.56x

Notes

1. Market Data as of May 23, 2011

2. Earth financials per street case

Project Space

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

3 Select Precedent Strategic Transactions

Transaction Value > $1.0Bn

Comparable Transactions in Healthcare IT

Aggregate Value Transaction Value /

Date Target / Acquiror ($ MM) LTM Sales LTM EBITDA NTM EBITDA

4-Aug-10 Executive Health Resources / Ingenix (UNH) 1,850 NA NA NA

9-Jun-10 Eclipsys / Allscripts 1,177 2.3x 14.0x 12.1x

21-Sep-09 Perot / Dell 3,703 1.4x 13.6x 12.0x

18-Jun-09 HLTH Corp / WebMD Health Corp 1,334 3.5x 36.8x 12.7x

18-Mar-08 Allscripts / Misys 1,169 2.2x 21.9x 14.1x

5-Nov-06 Per-Se / McKesson 1,649 3.0x 15.5x 10.5x

29-Sep-05 IDX / General Electric 1,269 2.2x 17.4x NA

Average 2.4x 19.9x 12.3x

Median 2.2x 16.4x 12.1x

Comparable Transactions in Processing / Information Services

Aggregate Value Transaction Value /

Date Target / Acquiror ($ MM) LTM Sales LTM EBITDA NTM EBITDA

7-Jun-10 Altegrity / Kroll 1,130 1.7x 8.2x 7.8x

1-Mar-10 Riskmetrics / MSCI 1,659 5.4x 16.8x 13.9x

26-Jun-09 First Advantage / First American 1,132 1.7x 10.0x 6.8x

1-Apr-09 Metavante Technologies / Fidelity National Information Services 4,467 2.6x 9.3x 8.7x

20-Feb-08 ChoicePoint, Inc. / Reed Elsevier Group plc 4,147 4.2x 14.4x 12.8x

2-Aug-07 CheckFree Corporation / Fiserv, Inc. 4,395 4.6x 14.9x 12.4x

26-Jun-07 eFunds Corporation / Fidelity National Information Services, Inc. 1,777 3.2x 13.3x 11.8x

15-May-07 Reuters Group plc / The Thomson Corporation 19,017 4.0x 22.0x 18.7x

14-Feb-07 TALX Corporation / Equifax Inc. 1,400 5.5x 16.1x 12.9x

20-Dec-06 John H. Harland Company / M&F Worldwide Corp. 1,687 1.6x 7.5x 7.5x

15-Sep-05 Certegy / Fidelity National Information Services 2,464 2.3x 10.0x NA

13-Jul-04 National Processing / Bank of America 1,137 2.2x 9.9x NA

18-May-04 Kroll, Inc. / Marsh & McLennan Companies, Inc. 1,715 3.1x 14.7x 11.4x

Average 3.2x 12.9x 11.3x

Median 3.1x 13.3x 11.8x

Project Space

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

(1)(2)

3 Premiums Paid for U.S. Public Targets

Deals of $1Bn or More

All Cash Consideration All Stock Consideration All Deals (3)

21-Year Avg: 38.3% S&P 500 (4) 21-Year Avg: 31.6% S&P 500 (4) 21-Year Avg: 36.1% S&P 500 (4) 21-Year Avg for Strategics Only: 40.4%

Source Thomson Reuters as of 5 April 2011

Notes

1. Includes announced bids for control of U.S. public targets with an aggregate value of $1Bn or more. Excludes terminated transactions, ESOPs, self-tenders, spin-offs, share repurchases, minority interest transactions, exchange offers, recapitalizations and restructurings. Includes transactions announced on or before 31 March 2011

2. Annual amounts based on mean of percentage premiums paid over unaffected stock price which is defined as stock price four weeks prior to the earliest of the deal announcement; announcement of a competing bid; and market rumors

3. Includes all announced bids irrespective of consideration offered (i.e., includes all cash, all stock and hybrid bids). Excludes outliers

4. S&P 500 indexed to closing price on the last trading day of 1990

Project Space

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

4 Illustrative Financial Sponsor LBO Analysis

Based on Street Case

Earth Financials (1)

$MM

2011 2H 2012E 2013E 2014E 2015E

Revenue $564 $1,202 $1,267 $1,335 $1,397

EBITDA 151 329 358 380 398

Net Income $39 $95 $112 $122 $133

D&A ex. Acquisition Amortization 26 55 59 64 67

CapEx (27) (50) (53) (56) (58)

Change in Working Capital (3) (7) (6) (6) (6)

Financing Fee Amortization 4 8 8 8 8

LFCF $39 $102 $121 $133 $145

Cumulative LFCF $39 $141 $262 $395 $539

IRR Sensitivity (2,3,4,5,6)

%

Purchase Price Premium to Current Implied ‘11E PF Leverage

(7)

($ per share) ($14.88 as of 05/23/11) AV/ EBITDA 6.00x 6.25x 6.50x 6.75x 7.00x

$17.00 14% 9.5x 16.7% 17.3% 18.0% 18.8% 19.6%

$19.00 28% 10.3x 14.9% 15.4% 15.9% 16.4% 17.0%

$19.50 31% 10.5x 14.6% 15.0% 15.5% 16.0% 16.5%

$21.00 41% 11.1x 13.6% 14.0% 14.4% 14.8% 15.2%

$23.00 55% 11.9x 12.6% 12.9% 13.2% 13.5% 13.8%

$25.00 68% 12.7x 11.8% 12.0% 12.3% 12.5% 12.8%

Notes

1. Assumes 6.5x leverage and elimination of stock-based compensation

2. Estimated net debt of $865MM as of 6/30/2011

3. After equity provision for 7.5% management promote

4. Assumes 4.0x LTM bank debt (L+350 bps with 1.5% LIBOR floor and 99.5% OID) and 2.0 -3.0x LTM bond debt (8.00%); based on 6/30/2011 LTM EBITDA of $284MM

5. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

6. Assumes exit multiple is equal to the entry multiple

7. Assumes net debt of $893MM as of 3/31/11 (adjusted for EquiClaim acquisition)

Project Space

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

4 Illustrative Financial Sponsor LBO Analysis

Based on Revised Management Case

Earth Financials (1)

$MM

2011 2H 2012E 2013E 2014E 2015E

Revenue $570 $1,206 $1,281 $1,364 $1,456

EBITDA 153 332 359 389 419

Net Income $40 $96 $112 $126 $145

D&A ex. Acquisition Amortization 26 55 59 64 67

CapEx (25) (55) (55) (55) (58)

Change in Working Capital (2) (7) (8) (9) (10)

Financing Fee Amortization 4 8 8 8 8

LFCF $43 $97 $116 $135 $153

Cumulative LFCF $43 $141 $257 $392 $545

IRR Sensitivity (2,3,4,5,6)

%

Purchase Price Premium to Current Implied ‘11E PF Leverage

(7)

($ per share) ($14.88 as of 05/23/11) AV/ EBITDA 6.00x 6.25x 6.50x 6.75x 7.00x

$17.00 14% 9.4x 19.7% 20.4% 21.3% 22.2% 23.2%

$19.00 28% 10.2x 17.8% 18.3% 18.9% 19.6% 20.3%

$19.50 31% 10.4x 17.4% 17.9% 18.5% 19.1% 19.7%

$21.00 41% 11.0x 16.3% 16.8% 17.2% 17.7% 18.3%

$23.00 55% 11.8x 15.2% 15.6% 15.9% 16.3% 16.8%

$25.00 68% 12.6x 14.3% 14.6% 14.9% 15.2% 15.6%

Notes

1. Assumes 6.5x leverage and elimination of stock-based compensation

2. Estimated net debt of $863MM as of 6/30/2011

3. After equity provision for 7.5% management promote

4. Assumes 4.0x LTM bank debt (L+350 bps with 1.5% LIBOR floor and 99.5% OID) and 2.0 -3.0x LTM bond debt (8.00%); based on 6/30/2011 LTM EBITDA of $286MM

5. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

6. Assumes exit multiple is equal to the entry multiple

7. Assumes net debt of $893MM as of 3/31/11 (adjusted for EquiClaim acquisition)

Project Space

• Earth share price is $14.88 as of May 23, 2011

• Includes stock based compensation as a cash expense

Discount Rate Sensitivity Analysis

$ per share

Exit Multiple

WACC 8.0x 9.0x 10.0x

8% $17.81 $20.21 $22.60

9% $16.93 $19.23 $21.53

10% $16.08 $18.29 $20.50

11% $15.28 $17.40 $19.52

12% $14.47 $16.56 $18.59

13% $13.69 $15.75 $17.70

14% $12.96 $14.95 $16.86

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

5 Earth Discounted Cash Flow Analysis

Street Case (1), 5-Year DCF, Exit Multiple

Discounted Cash Flow Analysis (2)

$MM, unless otherwise noted

Exit Multiple 8.0x 9.0x 10.0x

Discount Rate

8.5% 9.0% 9.5% 8.5% 9.0% 9.5% 8.5% 9.0% 9.5%

Present Value of:

Cash Flows $582 $576 $569 $582 $576 $569 $582 $576 $569

Terminal Value (3) 2,307 2,260 2,214 2,596 2,543 2,491 2,884 2,825 2,768

Aggregate Value 2,889 2,836 2,783 3,178 3,118 3,060 3,466 3,401 3,337

Less: Net Debt (4) 865 865 865 865 865 865 865 865 865

Equity Value 2,024 1,971 1,919 2,313 2,253 2,195 2,601 2,536 2,472

Equity Value / Share (5) $17.36 $16.93 $16.50 $19.71 $19.23 $18.75 $22.06 $21.53 $21.01

Terminal Value Analysis

% Value in Cash Flows 20% 20% 20% 18% 18% 19% 17% 17% 17%

% Value in Terminal Value 80% 80% 80% 82% 82% 81% 83% 83% 83%

Implied Valuation Multiples

AV / 2011E EBITDA 9.5x 9.4x 9.2x 10.5x 10.3x 10.1x 11.5x 11.2x 11.0x

AV / 2012E EBITDA 8.8x 8.6x 8.5x 9.7x 9.5x 9.3x 10.5x 10.3x 10.1x

Implied PGR 2.6% 3.1% 3.6% 3.3% 3.7% 4.2% 3.8% 4.2% 4.7%

Notes

1. Based on Street projections which consist of median I/B/E/S consensus and Wall Street Research

2. Valuation date as of 6/30/2011

3. Based on 2016E EBITDA of $416MM, terminal FCF assumes CapEx = D&A in terminal year

4. Based on estimated net debt of $865MM as of 6/30/2011 and assumes minority interest accounted for by including Class B shares in basic shares calculation

5. All per share values based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

Project Space

• Earth share price is $14.88 as of May 23, 2011

• Includes stock based compensation as a cash expense

Discount Rate Sensitivity Analysis

$ per share

Exit Multiple

WACC 8.0x 9.0x 10.0x

8% $19.51 $22.11 $24.72

9% $18.56 $21.06 $23.55

10% $17.65 $20.05 $22.45

11% $16.79 $19.09 $21.39

12% $15.96 $18.18 $20.39

13% $15.17 $17.30 $19.43

14% $14.37 $16.47 $18.52

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

5 Earth Discounted Cash Flow Analysis

Revised Management Case (1), 5-Year DCF, Exit Multiple

Discounted Cash Flow Analysis (2)

$MM, unless otherwise noted

Exit Multiple 8.0x 9.0x 10.0x

Discount Rate

8.5% 9.0% 9.5% 8.5% 9.0% 9.5% 8.5% 9.0% 9.5%

Present Value of:

Cash Flows $585 $578 $572 $585 $578 $572 $585 $578 $572

Terminal Value (3) 2,507 2,456 2,406 2,821 2,763 2,707 3,134 3,070 3,007

Aggregate Value 3,092 3,034 2,978 3,405 3,341 3,278 3,719 3,648 3,579

Less: Net Debt (4) 863 863 863 863 863 863 863 863 863

Equity Value 2,229 2,171 2,115 2,542 2,478 2,416 2,856 2,785 2,716

Equity Value / Share (5) $19.03 $18.56 $18.10 $21.58 $21.06 $20.55 $24.13 $23.55 $22.99

Terminal Value Analysis

% Value in Cash Flows 19% 19% 19% 17% 17% 17% 16% 16% 16%

% Value in Terminal Value 81% 81% 81% 83% 83% 83% 84% 84% 84%

Implied Valuation Multiples

AV / 2011E EBITDA 10.1x 9.9x 9.8x 11.2x 11.0x 10.7x 12.2x 12.0x 11.7x

AV / 2012E EBITDA 9.3x 9.2x 9.0x 10.3x 10.1x 9.9x 11.2x 11.0x 10.8x

Implied PGR 2.9% 3.3% 3.8% 3.5% 3.9% 4.4% 3.9% 4.4% 4.9%

Notes

1. Per management guidance

2. Valuation date as of 6/30/2011

3. Based on 2016E EBITDA of $452MM, terminal FCF assumes CapEx = D&A in terminal year

4. Based on estimated net debt of $863MM as of 6/30/2011 and assumes minority interest accounted for by including Class B shares in basic shares calculation

5. All per share values based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

Project Space

Illustrative Calculation (7)

Street Case Based on 15.0x P/E

Current 6/30/2012

NTM Net Income ($MM) $133 $152 P / E Multiple 13.9x 15.0x Future Equity Value ($MM) $1,845 $2,277

Future Share Price $19.42

PV Future Share Price $14.88 $17.64

Dividend Recap

Incremental A/T Interest ($14) ($14)

Value Impact ($199) ($214)

Cash Dividend $320 $352

Total Value $121 $138

Future Equity Value ($MM) $1,966 $2,415 Future Share Price $20.69 Change Per Share $0.98 $1.16 PV Future Share Price $15.86 $18.79

Street Case Low / High

Street Case + Dividend Recap Low / High

Revised Management Case Low / High

Revised Mgmt Case

+ Dividend Recap Low / High

CONFIDENTIAL & PRELIMINARY

PRELIMINARY VALUATION ANALYSIS

6 Summary of Hypothetical Future Value Analysis

As of May 23, 2011

PV of Future Implied Value to Shareholders—Based on 9.0x—11.0x NTM EBITDA Multiple (1,2,3,4,5,6)

PV of Future Implied Value to Shareholders—Based on 15.0x—20.0x NTM Net Income Multiple (1,2,3,4,5,6)

Notes

1. Excludes ITR-related gross payments of $142MM for existing tax attributes as of 12/31/2010 and any future tax attributes

2. Discounted to 6/30/2011 assuming a cost of equity of 10.1%

3. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. 6/30/2012 NTM EBITDA calculated as 50% of 2012E EBITDA and 50% of 2013E EBITDA; same methodology applied to calculate 6/30/2013 and 6/30/2014 NTM EBITDA; similar methodology applied to calculated NTM Net Income

5. Assumes debt of $959MM and cash of $94MM as of 6/30/2011, $100MM annual debt paydown and cash grown at levered FCF assuming 1% pre-tax interest income

6. Recap case assumes incremental debt at 7.25% to reach 4.5x leverage as of 6/30/2011 ($325MM based on LTM EBITDA of $285MM for the Street Case and $332MM based on LTM EBITDA of $286MM for the Revised Management Case). Assumes proceeds post 1.5% fees ($320MM for the Street Case and $327MM for the Revised Management Case) are distributed as a cash dividend to all shareholders and grown at a cost of equity of 10.1%

7. Current share price based on management guidance of FDSO of 124MM; 6/30/2012 per share amounts based on dilution of options and warrants under the treasury stock method assuming 115.82MM basic Class A and and Class B shares

Project Space

CONFIDENTIAL & PRELIMINARY

Section 3

Potential Partners

Project Space

• Several potential alternate partners would have good strategic fit with Earth

– Threshold question is around likelihood / ability to move quickly

CONFIDENTIAL & PRELIMINARY

POTENTIAL PARTNERS

Alternate Strategic Partners

Alternate Strategic Partners Key Rationale Likelihood of Estimated Near-Term As sessment

Engaging Quickly Pre-Tax Synergies (1)

• Scale Ingenix + Optum

(Diversification)

• Data and payments focus

• Refocusing on data and

analytics

• Diversification

• Strengthen HIE / clinical

decision support

• Leverage technology in

provider RCM bus iness

• Get proprietary data and

deepen vertic al expertise

• Scale healthc are BPO

• Scale payer data and

analytics

• Expand payer data and

analytics

• Scale payer business

intelligence and BPO

Note

1. Relative to Mars which would get a full circle

Project Space

Mars Summary Statistics (7,9)

$MM

Market Cap. $21,221

Cash $3,612

Debt $4,019

Aggregate Value $21,628

Standalone Leverage 1.3x

AV / EBITDA

2011 7.2x

2012 6.6x

P / E

2011 14.7x

2012 13.0x

CONFIDENTIAL & PRELIMINARY

POTENTIAL PARTNERS

Pro Forma Impact to Mars

Assumes 1/1/2011 Transaction Date

“[A] debt-financed acquisition . . . that increased debt leverage to a level beyond 2x for an extended period of time could prompt a ratings downgrade. “

EPS Accretion / Dilution (1,2,3,4)

$MM, except per share values

Street Case Revised Management Case (5) (6) (7) (5) (6) Premium to Agg. Cash Acc. / (Dil.) ROIC PF Debt / Moody’s -Adj. Debt / Cash Acc. / (Dil.) ROIC

(3)

Price ($) Current ($14.88) Value CY2011E CY2012E CY2011E CY2012E ‘11E EBITDA ‘11E EBITDAR CY2011E CY2012E CY2011E CY2012E No Synergies $19.50 31% $3,180 4.7% 5.0% 4.3% 4.7% 2.2x 2.4x 4.8% 5.1% 4.4% 4.8% $20.00 34% $3,241 4.6% 4.9% 4.2% 4.6% 2.2x 2.4x 4.7% 5.0% 4.3% 4.7% $21.00 41% $3,364 4.4% 4.7% 4.1% 4.5% 2.2x 2.5x 4.5% 4.8% 4.1% 4.5% $22.00 48% $3,487 4.1% 4.5% 3.9% 4.3% 2.3x 2.5x 4.2% 4.6% 4.0% 4.4% $23.00 55% $3,610 3.9% 4.3% 3.8% 4.2% 2.3x 2.5x 4.0% 4.3% 3.8% 4.2%

(8) $75MM in Run Rate Synergies

$19.50 31% $3,180 6.5% 8.2% 4.9% 6.0% 2.2x 2.4x 6.6% 8.3% 5.0% 6.1% $20.00 34% $3,241 6.4% 8.1% 4.8% 5.9% 2.2x 2.4x 6.5% 8.2% 4.9% 5.9% $21.00 41% $3,364 6.2% 7.9% 4.7% 5.7% 2.2x 2.5x 6.3% 7.9% 4.7% 5.7% $22.00 48% $3,487 5.9% 7.6% 4.5% 5.5% 2.3x 2.5x 6.0% 7.7% 4.5% 5.5% $23.00 55% $3,610 5.7% 7.4% 4.3% 5.3% 2.3x 2.5x 5.8% 7.5% 4.4% 5.4%

(8)

$125MM in Run Rate Synergies $19.50 31% $3,180 7.7% 10.3% 5.3% 6.8% 2.2x 2.4x 7.8% 10.4% 5.3% 6.9% $20.00 34% $3,241 7.6% 10.2% 5.2% 6.7% 2.2x 2.4x 7.7% 10.3% 5.2% 6.8% $21.00 41% $3,364 7.3% 10.0% 5.0% 6.5% 2.2x 2.5x 7.4% 10.1% 5.1% 6.5% $22.00 48% $3,487 7.1% 9.8% 4.9% 6.3% 2.3x 2.5x 7.2% 9.8% 4.9% 6.3% $23.00 55% $3,610 6.9% 9.5% 4.7% 6.1% 2.3x 2.5x 7.0% 9.6% 4.7% 6.1%

Notes

1. As of May 23, 2011

2. PF analysis assumes all existing Earth debt is retired and new debt is raised at 4.125% to fund the entire cost of the acquisition

3. Earth equity value based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. Earth net debt assumes minority interest accounted for by including Class B shares in basic shares calculation

5. Cash EPS excludes transaction amortization, stock-based compensation, and non-cash interest expense

6. ROIC = [(EBITA + Phased in Synergies)*(1 -Tax Rate)] / (Transaction Aggregate Value + Cost to Achieve Synergies)

7. Mars cash and debt figures exclude impact of System C Healthcare acquisition

8. Per management guidance. Assumes 50% run rate in 2011 and 100% run rate in 2012

9. Multiples based on median I/B/E/S consensus

Project Space

CONFIDENTIAL & PRELIMINARY

POTENTIAL PARTNERS

Mars Acquisitions

Acquisitions >$100MM Since January 2005

Selected Targets

Company Date Deal Size AV/LTM Revenue AV/LTM EBITDA Announced Synergies

Mar-03-2011 $140MM 1.9x 15.7x NA

Nov-01-2010 $2,160MM 0.6x ~9x $67-89MM

Apr-08-2008 $190MM 0.3x ~17x NA

Oct-04-2007 $575MM 0.2x NA NA

Nov-05-2006 $1,649MM 3.0x 15.5x $50-75MM

Jul-08-2005 $489MM 0.15x 15.8x $10MM

Project Space

Ursa Summary Statistics (7,8)

$MM

Market Cap. $53,262

Cash $9,790

Debt $12,050

Aggregate Value $55,522

AV / EBITDA

2011 6.5x

2012 6.2x

P / E

2011 11.8x

2012 11.0x

CONFIDENTIAL & PRELIMINARY

POTENTIAL PARTNERS

Pro Forma Impact to Ursa

Assumes 1/1/2011 Transaction Date

EPS Accretion / Dilution (1,2,3,4)

$MM, except per share values

Street Case Revised Management Case

Premium to Agg. Cash Acc. / (Dil.) (5) ROIC (6) PF Debt / Cash Acc. / (Dil.) (5) ROIC (6)

(3)

Price ($) Current ($14.88) Value CY2011E CY2012E CY2011E CY2012E ‘11E EBITDA CY2011E CY2012E CY2011E CY2012E

No Synergies

$19.50 31% $3,180 1.7% 1.8% 4.3% 4.7% 1.7x 1.7% 1.9% 4.4% 4.8%

$20.00 34% $3,241 1.6% 1.8% 4.2% 4.6% 1.7x 1.7% 1.8% 4.3% 4.7%

$21.00 41% $3,364 1.6% 1.7% 4.1% 4.5% 1.7x 1.6% 1.8% 4.1% 4.5%

$22.00 48% $3,487 1.5% 1.7% 3.9% 4.3% 1.7x 1.5% 1.7% 4.0% 4.4%

$23.00 55% $3,610 1.4% 1.6% 3.8% 4.2% 1.8x 1.5% 1.6% 3.8% 4.2%

(7)

$75MM in Run Rate Synergies

$19.50 31% $3,180 2.2% 2.8% 4.9% 6.0% 1.7x 2.2% 2.9% 5.0% 6.1%

$20.00 34% $3,241 2.2% 2.8% 4.8% 5.9% 1.7x 2.2% 2.8% 4.9% 5.9%

$21.00 41% $3,364 2.1% 2.7% 4.7% 5.7% 1.7x 2.1% 2.8% 4.7% 5.7%

$22.00 48% $3,487 2.0% 2.7% 4.5% 5.5% 1.7x 2.1% 2.7% 4.5% 5.5%

$23.00 55% $3,610 2.0% 2.6% 4.3% 5.3% 1.8x 2.0% 2.6% 4.4% 5.4%

(7)

$125MM in Run Rate Synergies

$19.50 31% $3,180 2.6% 3.5% 5.3% 6.8% 1.7x 2.6% 3.5% 5.3% 6.9%

$20.00 34% $3,241 2.5% 3.5% 5.2% 6.7% 1.7x 2.6% 3.5% 5.2% 6.8%

$21.00 41% $3,364 2.5% 3.4% 5.0% 6.5% 1.7x 2.5% 3.4% 5.1% 6.5%

$22.00 48% $3,487 2.4% 3.3% 4.9% 6.3% 1.7x 2.4% 3.4% 4.9% 6.3%

$23.00 55% $3,610 2.3% 3.3% 4.7% 6.1% 1.8x 2.4% 3.3% 4.7% 6.1%

Notes

1. As of May 23, 2011

2. PF analysis assumes all existing Earth debt is retired and new debt is raised at 4.125% to fund the entire cost of the acquisition

3. Earth equity value based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. Earth net debt assumes minority interest accounted for by including Class B shares in basic shares calculation

5. Cash EPS excludes transaction amortization, stock-based compensation, and non-cash interest expense

6. ROIC = [(EBITA + Phased in Synergies)*(1 -Tax Rate)] / (Transaction Aggregate Value + Cost to Achieve Synergies)

7. Per management guidance. Assumes 50% run rate in 2011 and 100% run rate in 2012

8. Multiples based on median I/B/E/S consensus

Project Space

• There are a number of financial sponsors that would be interested in potentially purchasing Earth

• However, size of the equity investment would limit the number of firms able to participate on standalone basis

– Club deal possibility could open the door for additional bidders

• A significant number of large private equity funds would take a look at the business given its size and financial profile

CONFIDENTIAL & PRELIMINARY

POTENTIAL PARTNERS

Possible Financial Buyers

Fund

Size

Name ($Bn) Select Investments

• Marken

15.4 Trizetto

•

• Accellent

11.5 • HCA

• Quintiles

• Warner Chilcott

• Amadeus IT Holdings

• Medica France

8.0 • Multiplan

• Centro Medico Teknon*

• General Healthcare Group*

Blacksto • TeamHealth

ne 21.7 • Southern Cross Healthcare

• Vanguard Health Systems

Carlyle • Carfx

13.7 • InteliStaf*

• Skila

• MultiPlan*

• Accellent

• Capsugel

17.6 • First Data

• Jazz Pharma

• MedCath

• HCA

Fund

Size

Name ($Bn) Select Investments

• Decision Resources

12.1 • ikaSystems

• VRAD

KKR 9.3 • MultiPlan

• inVentiv Health

10.1 Warner Chilcott

•

• Avaya

18.8 IMS Health

•

• Bausch & Lomb

15.0 • Eclipsys Corporation*

• InterMune

• Metavante

Note

* Indicates prior investment

Project Space

CONFIDENTIAL & PRELIMINARY

Appendix A

Supplemental Materials

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Valuation Matrix

Street Case

Earth Valuation Matrix (1)

Premium Aggregate Value / EBITDA Price / EPS

Share Price 1-Day 30-Day (2) (3) CY ‘11E CY ‘12E CY ‘11E CY ‘12E

Equity Value Aggregate Value

($) (%) (%) ($MM) ($MM) ($MM) ($MM) ($) ($)

Statistic $14.88 $15.47 $303 $329 $1.03 $1.15

$14.88 0% (4%) 1,723 2,616 8.6x 7.9x 14.5x 12.9x

$15.00 1% (3%) 1,737 2,630 8.7x 8.0x 14.6x 13.0x

$16.00 8% 3% 1,857 2,750 9.1x 8.4x 15.6x 13.9x

$17.00 14% 10% 1,980 2,873 9.5x 8.7x 16.6x 14.7x

$18.00 21% 16% 2,103 2,996 9.9x 9.1x 17.5x 15.6x

$19.00 28% 23% 2,226 3,118 10.3x 9.5x 18.5x 16.5x

$20.00 34% 29% 2,349 3,241 10.7x 9.8x 19.5x 17.3x

$21.00 41% 36% 2,471 3,364 11.1x 10.2x 20.5x 18.2x

$22.00 48% 42% 2,594 3,487 11.5x 10.6x 21.4x 19.1x

$23.00 55% 49% 2,717 3,610 11.9x 11.0x 22.4x 19.9x

$24.00 61% 55% 2,840 3,733 12.3x 11.3x 23.4x 20.8x

$25.00 68% 62% 2,963 3,855 12.7x 11.7x 24.3x 21.7x

$19.50 31% 26% 2,287 3,180 10.5x 9.7x 19.0x 16.9x

Notes

1. Based on median I/B/E/S consensus as of May 23, 2011

2. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

3. Based on net debt of $893MM (adjusted for EquiClaim acquisition); assumes minority interest accounted for by including Class B shares in basic shares calculation

Project Space

HCIT Peers Historical Averages

Current 1 Year 2 Years 5 Years

Earth 16.9x 15.5x 16.3x NA

CERN 23.7x 19.5x 19.0x 17.1x

MDRX 17.7x 20.1x 22.6x 24.3x

QSII 24.9x 21.6x 21.9x 20.4x

MDAS 14.2x 15.2x 16.6x 17.0x

PBM Peers Historical Averages

Current 1 Year 2 Years 5 Years

Earth 16.9x 15.5x 16.3x NA

ESRX 16.5x 16.2x 16.2x 17.9x

MHS 14.4x 14.1x 14.9x 16.4x

Payment Processors Hist. Avg.

Current 1 Year 2 Years 5 Years

Earth 16.9x 15.5x 16.3x NA

V 12.1x 12.8x 15.3x 16.8x

MA 12.4x 11.2x 11.6x 15.8x

ADP 18.4x 15.8x 14.8x 15.2x

SLH 18.5x 17.4x 16.3x 17.1x

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Historical Trading Multiples

Unlevered NTM AV / Earnings (1) 30-Day Rolling Average: Last Five Years (2)

HCIT Peers

PBM Peers

Payment Processors Peers

Notes

1. Defined as Aggregate Value / NTM EBIAAT; EBIAAT defined as earnings before interest and amortization and after tax

2. Market data as of May 23, 2011

Project Space

HCIT Peers Historical Averages

Current 1 Year 2 Years 5 Years

Earth 14.4x 13.3x 14.8x NA

CERN 30.5x 26.2x 26.3x 24.7x

MDRX 21.6x 22.3x 24.6x 24.3x

QSII 31.3x 27.0x 27.1x 25.0x

MDAS 15.0x 18.7x 21.3x 22.8x

PBM Peers Historical Averages

Current 1 Year 2 Years 5 Years

Earth 14.4x 13.3x 14.8x NA

ESRX 16.7x 16.8x 17.4x 18.8x

MHS 13.8x 14.4x 16.0x 17.8x

Payment Processors Hist. Avg.

Current 1 Year 2 Years 5 Years

Earth 14.4x 13.3x 14.8x NA

V 14.6x 15.5x 18.4x 20.7x

MA 15.4x 14.4x 15.7x 20.2x

ADP 20.1x 17.7x 17.1x 17.7x

SLH 20.8x 19.0x 17.3x 18.0x

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Historical Trading Multiples

NTM P/E(1) Rolling 30-Day Rolling Average: Last Five Years (2)

HCIT Peers

PBM Peers

Payment Processors Peers

Notes

1. Per FactSet and I/B/E/S Consensus

2. Market data as of May 23, 2011

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Select Precedent Sponsor Transactions

Transaction Value > $1.0Bn

Comparable Sponsor Transactions in Healthcare IT

Equity Value Aggregate Value Transaction Value /

Date Target / Acquiror ($ MM) ($ MM) LTM Sales LTM EBITDA

6-May-10 Inventiv / TH Lee 916 1,156 1.1x 8.5x

5-Nov-09 IMS Health / TPG 4,255 5,298 2.4x 10.8x

11-Apr-08 Trizetto / Apax 1,231 1,148 1.4x 14.2x

26-Sep-06 Emdeon (52% stake) / General Atlantic—2,308 3.3x 13.7x

Average 2.1x 11.8x

Median 1.9x 12.3x

Comparable Sponsor Transactions in Processing / Information Services

Aggregate Value Transaction Value /

Date Target / Acquiror ($ MM) LTM Sales LTM EBITDA

6-Aug-10 RBS Worldpay / Bain & Advent 3,040 3.3x 8.4x

4-May-10 IDC / Silver Lake & Warburg Pincus 3,043 4.0x 11.3x

30-Mar-09 Fifth Third Bank Processing Solution (51% Stake) / Advent International 2,350 3.3x 8.2x

30-May-07 Ceridian / Thomas H. Lee Partners & Fidelity National Financial 5,016 3.2x 14.3x

17-Apr-07 Catalina Marketing Corporation / Hellman & Freidman 1,673 3.6x 10.9x

2-Apr-07 First Data Corporation / KKR 27,703 3.8x 15.1x

16-Oct-06 Open Solutions / Carlyle & Providence Equity 1,343 3.0x 10.2x

8-Mar-06 VNU / Consortium 10,651 2.4x 13.4x

28-Mar-05 SunGard / Consortium 10,844 3.0x 10.4x

Average 3.3x 11.4x

Median 3.3x 10.9x

Project Space

• Assumes 100% of premium to current price is included in the amount of synergies paid away

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Synergy Sharing Analysis

Synergy Sharing Analysis

$MM, except per share amounts

(1)

Current Purchase Price Per Share

Price Per Earth Share $14.88 $19.50 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00

% Premium to:

Current 0% 31% 34% 41% 48% 55% 61% 68%

30-Day Average ($15.47) (4%) 26% 29% 36% 42% 49% 55% 62%

60-Day Average ($15.60) (5%) 25% 28% 35% 41% 47% 54% 60%

52-Week High ($16.83) (12%) 16% 19% 25% 31% 37% 43% 49%

Premium Paid to Current

Premium Paid ($ / share) $0.00 $4.62 $5.12 $6.12 $7.12 $8.12 $9.12 $10.12

(2) $0 $542 $601 $720 $840 $959 $1,079 $1,199

Total Premium Paid ($MM)

(3)

% of Present Value of Synergies Assuming :

$75MM Run Rate 0% 125% 139% 166% 194% 222% 249% 277%

$100MM Run Rate 0% 94% 104% 125% 145% 166% 187% 208%

$125MM Run Rate 0% 75% 83% 100% 116% 133% 150% 166%

(4)

% of Capitalized Synergies Assuming :

$75MM Run Rate 0% 103% 115% 137% 160% 183% 206% 228%

$100MM Run Rate 0% 77% 86% 103% 120% 137% 154% 171%

$125MM Run Rate 0% 62% 69% 82% 96% 110% 123% 137%

Notes

1. As of May 23, 2011

2. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

3. Run rate synergies per management guidance. Synergies discounted at 9% WACC and assumes 50% of run rate synergies in Year 1, 100% of run rate synergies in Year 2 and thereafter, and cost to achieve synergies equal to 100% of run rate synergies

4. Synergies capitalized at 8.0x run rate; assumes cost to achieve synergies equal to 100% of run rate synergies

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Hypothetical Future Value Analysis

Street Case

Future Implied Stock Price—Based on NTM EBITDA Multiple

As of 5/23/2011

Present Value of Future Stock Price (1,2,3)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E

(4) 344 369 389

NTM EBITDA ($MM)

% Growth 9% 7% 5%

FV of Hypothetical Stock Price and Implied P/E Multiple

Implied Implied Implied

NTM P/E P/E P/E

Multiple Multiple Multiple Multiple

Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $20.09 18.4x $23.23 19.0x $26.12 19.4x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $22.88 21.0x $26.23 21.4x $29.29 21.7x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $25.68 23.6x $29.24 23.9x $32.46 24.1x

PV of Hypothetical Future Stock Price and Implied P/E Multiple (5)

Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $18.25 18.4x $19.16 19.0x $19.57 19.4x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $20.79 21.0x $21.64 21.4x $21.95 21.7x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $23.33 23.6x $24.12 23.9x $24.32 24.1x

Future Implied Stock Price—Based on NTM P/E Multiple

As of 5/23/2011

Present Value of Future Stock Price (1,2,3)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E

(4) 152 167 178

NTM Net Income ($MM)

% Growth 12% 10% 7%

FV of Hypothetical Stock Price and Implied AV/EBITDA Multiple

Implied Implied Implied

NTM AV/EBITDA AV/EBITDA AV/EBITDA

Multiple Multiple Multiple Multiple

Fwd P / E Multiple—2 Yr Avg. 15.0x $19.42 8.8x $21.30 8.4x $22.66 7.9x

Fwd P / E Multiple—2.5x Higher 17.5x $22.51 9.9x $24.70 9.5x $26.29 9.1x

Fwd P / E Multiple—5.0x Higher 20.0x $25.60 11.0x $28.11 10.6x $29.92 10.2x

PV of Hypothetical Future Stock Price and Implied AV/EBITDA Multiple (5)

Fwd P / E Multiple—2 Yr Avg. 15.0x $17.64 8.8x $17.57 8.4x $16.98 7.9x

Fwd P / E Multiple—2.5x Higher 17.5x $20.44 9.9x $20.38 9.5x $19.70 9.1x

Fwd P / E Multiple—5.0x Higher 20.0x $23.25 11.0x $23.19 10.6x $22.42 10.2x

Notes

1. Excludes ITR-related gross payments of $142MM for existing tax attributes as of 12/31/2010 and any future tax attributes

2. Discounted to 6/30/2011 assuming a cost of equity of 10.1%

3. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. 6/30/2012 NTM EBITDA calculated as 50% of 2012E EBITDA and 50% of 2013E EBITDA; same methodology applied to calculate 6/30/2013 and 6/30/2014 NTM EBITDA; similar

methodology applied to calculated NTM Net Income

5. Assumes debt of $959MM and cash of $94MM as of 6/30/2011, $100MM annual debt paydown and cash grown at levered FCF assuming 1% pre-tax interest income

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Hypothetical Future Value Analysis

Revised Management Case

Future Implied Stock Price—Based on NTM EBITDA Multiple

As of 5/23/2011

Present Value of Future Stock Price (1,2,3)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E

(4) 345 374 404

NTM EBITDA ($MM)

% Growth 8% 8% 8%

FV of Hypothetical Stock Price and Implied P/E Multiple

Implied Implied Implied

NTM P/E P/E P/E

Multiple Multiple Multiple Multiple

Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $20.23 18.4x $23.56 19.1x $27.21 19.9x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $23.04 20.9x $26.60 21.6x $30.50 22.3x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $25.85 23.5x $29.64 24.1x $33.79 24.7x

PV of Hypothetical Future Stock Price and Implied P/E Multiple (5)

Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $18.38 18.4x $19.44 19.1x $20.39 19.9x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $20.93 20.9x $21.95 21.6x $22.85 22.3x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $23.48 23.5x $24.46 24.1x $25.32 24.7x

Future Implied Stock Price—Based on NTM P/E Multiple

As of 5/23/2011

Present Value of Future Stock Price (1,2,3)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E (4) 153 170 187 NTM Net Income ($MM)

% Growth 12% 11% 10%

FV of Hypothetical Stock Price and Implied AV/EBITDA Multiple

Implied Implied Implied NTM AV/EBITDA AV/EBITDA AV/EBITDA

Multiple Multiple Multiple Multiple Fwd P / E Multiple—2 Yr Avg. 15.0x $19.53 8.8x $21.63 8.4x $23.76 8.0x Fwd P / E Multiple—2.5x Higher 17.5x $22.64 9.9x $25.09 9.5x $27.57 9.1x

Fwd P / E Multiple—5.0x Higher 20.0x $25.75 11.0x $28.55 10.6x $31.39 10.3x PV of Hypothetical Future Stock Price and Implied AV/EBITDA Multiple (5) Fwd P / E Multiple—2 Yr Avg. 15.0x $17.74 8.8x $17.85 8.4x $17.81 8.0x

Fwd P / E Multiple—2.5x Higher 17.5x $20.57 9.9x $20.70 9.5x $20.66 9.1x

Fwd P / E Multiple—5.0x Higher 20.0x $23.39 11.0x $23.56 10.6x $23.52 10.3x

Notes

1. Excludes ITR-related gross payments of $142MM for existing tax attributes as of 12/31/2010 and any future tax attributes

2. Discounted to 6/30/2011 assuming a cost of equity of 10.1%

3. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. 6/30/2012 NTM EBITDA calculated as 50% of 2012E EBITDA and 50% of 2013E EBITDA; same methodology applied to calculate 6/30/2013 and 6/30/2014 NTM EBITDA; similar methodology applied to calculated NTM Net Income

5. Assumes debt of $959MM and cash of $94MM as of 6/30/2011, $100MM annual debt paydown and cash grown at levered FCF assuming 1% pre-tax interest income

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Hypothetical Future Value Analysis

Street Case Assuming Dividend Recap

Present Value of Future Value to Shareholders (1,2,3,6)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E (4) 344 369 389 NTM EBITDA ($MM)

% Growth 9% 7% 5%

FV of Hypothetical Stock Price + Cash Dividend

Implied Implied Implied NTM P/E P/E P/E

Multiple Multiple Multiple Multiple Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $20.35 21.0x $23.65 21.5x $26.74 21.8x Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $23.12 23.9x $26.64 24.2x $29.89 24.4x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $25.90 26.7x $29.63 25.7x $33.05 26.9x PV of Hypothetical Future Stock Price + Cash Dividend (5) Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $18.48 21.0x $19.51 21.5x $20.04 21.8x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $21.00 23.9x $21.98 24.2x $22.40 24.4x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $23.53 26.7x $24.44 25.7x $24.76 26.9x

Present Value of Future Value to Shareholders (1,2,3,6)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E (4) 138 153 164 NTM Net Income ($MM)

% Growth 14% 11% 7%

FV of Hypothetical Stock Price + Cash Dividend

Implied Implied Implied NTM AV/EBITDA AV/EBITDA AV/EBITDA

Multiple Multiple Multiple Multiple Fwd P / E Multiple—2 Yr Avg. 15.0x $20.69 7.0x $22.85 7.3x $24.52 7.4x Fwd P / E Multiple—2.5x Higher 17.5x $23.47 8.0x $25.94 8.3x $27.84 8.5x

Fwd P / E Multiple—5.0x Higher 20.0x $26.25 9.0x $29.03 9.3x $31.16 9.5x PV of Hypothetical Future Stock Price + Cash Dividend (5) Fwd P / E Multiple—2 Yr Avg. 15.0x $18.79 7.0x $18.85 7.3x $18.38 7.4x

Fwd P / E Multiple—2.5x Higher 17.5x $21.32 8.0x $21.40 8.3x $20.86 8.5x

Fwd P / E Multiple—5.0x Higher 20.0x $23.84 9.0x $23.95 9.3x $23.35 9.5x

Notes

1. Excludes ITR-related gross payments of $142MM for existing tax attributes as of 12/31/2010 and any future tax attributes

2. Discounted to 6/30/2011 assuming a cost of equity of 10.1%

3. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. 6/30/2012 NTM EBITDA calculated as 50% of 2012E EBITDA and 50% of 2013E EBITDA; same methodology applied to calculate 6/30/2013 and 6/30/2014 NTM EBITDA; similar methodology applied to calculated NTM Net Income

5. Assumes debt of $959MM and cash of $94MM as of 6/30/2011, $100MM annual debt paydown and cash grown at levered FCF assuming 1% pre-tax interest income

6. Recap case assumes incremental debt at 7.25% to reach 4.5x leverage as of 6/30/2011 ($325MM based on LTM EBITDA of $285MM) . Assumes proceeds post 1.5% fees ($320MM) are distributed as a cash dividend to all shareholders and grown at a cost of equity of 10.1%

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Hypothetical Future Value Analysis

Revised Management Case Assuming Dividend Recap

Future Implied Value to Shareholders—Based on NTM EBITDA Multiple

As of 5/23/2011

Future Implied Value to Shareholders—Based on NTM P/E Multiple

As of 5/23/2011

Present Value of Future Value to Shareholders (1,2,3,6)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E

(4) 345 374 404

NTM EBITDA ($MM)

% Growth 8% 8% 8%

FV of Hypothetical Stock Price + Cash Dividend

Implied Implied Implied

NTM P/E P/E P/E

Multiple Multiple Multiple Multiple

Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $20.50 21.0x $23.99 21.7x $27.83 22.3x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $23.28 23.8x $27.01 24.4x $31.11 25.0x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $26.08 26.7x $30.04 26.0x $34.38 27.6x

PV of Hypothetical Future Stock Price + Cash Dividend (5)

Fwd AV / EBITDA Multiple—2 Yr Avg. 9.0x $18.62 21.0x $19.79 21.7x $20.86 22.3x

Fwd AV / EBITDA Multiple—1.0x Higher 10.0x $21.15 23.8x $22.29 24.4x $23.31 25.0x

Fwd AV / EBITDA Multiple—2.0x Higher 11.0x $23.69 26.7x $24.78 26.0x $25.77 27.6x

Present Value of Future Value to Shareholders (1,2,3,6)

As of 5/23/2011

6/30/2012E 6/30/2013E 6/30/2014E

(4) 138 155 173

NTM Net Income ($MM)

% Growth 13% 12% 11%

FV of Hypothetical Stock Price + Cash Dividend

Implied Implied Implied

NTM AV/EBITDA AV/EBITDA AV/EBITDA

Multiple Multiple Multiple Multiple

Fwd P / E Multiple—2 Yr Avg. 15.0x $20.83 7.0x $23.22 7.3x $25.66 7.5x

Fwd P / E Multiple—2.5x Higher 17.5x $23.62 8.0x $26.35 8.3x $29.15 8.6x

Fwd P / E Multiple—5.0x Higher 20.0x $26.42 9.1x $29.50 9.4x $32.64 9.6x

PV of Hypothetical Future Stock Price + Cash Dividend (5)

Fwd P / E Multiple—2 Yr Avg. 15.0x $18.92 7.0x $19.15 7.3x $19.23 7.5x

Fwd P / E Multiple—2.5x Higher 17.5x $21.46 8.0x $21.74 8.3x $21.84 8.6x

Fwd P / E Multiple—5.0x Higher 20.0x $24.00 9.1x $24.34 9.4x $24.46 9.6x

Notes

1. Excludes ITR-related gross payments of $142MM for existing tax attributes as of 12/31/2010 and any future tax attributes

2. Discounted to 6/30/2011 assuming a cost of equity of 10.1%

3. Based on dilution of options and warrants under the treasury stock method at each price assuming 115.82MM of basic Class A and Class B shares

4. 6/30/2012 NTM EBITDA calculated as 50% of 2012E EBITDA and 50% of 2013E EBITDA; same methodology applied to calculate 6/30/2013 and 6/30/2014 NTM EBITDA; similar methodology applied to calculated NTM Net Income

5. Assumes debt of $959MM and cash of $94MM as of 6/30/2011, $100MM annual debt paydown and cash grown at levered FCF assuming 1% pre-tax interest income 37

6. Recap case assumes incremental debt at 7.25% to reach 4.5x leverage as of 6/30/2011 ($332MM based on LTM EBITDA of $286MM) . Assumes proceeds post 1.5% fees ($327MM) are distributed as a cash dividend to all shareholders and grown at a cost of equity of 10.1%

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Earth Summary Financials (1)

Summary P&L; Street Case

Summary P&L

MM, except per share amounts

Based on I/B/E/S Consensus Projected

2011E 2012E 2013E 2014E 2015E

Revenue $1,129 $1,202 $1,267 $1,335 $1,397

Revenue Growth 13% 6% 5% 5% 5%

Adj. EBITDA $303 $329 $358 $380 $398

Adj. EBITDA Growth 13% 9% 9% 6% 5%

Adj. EBITDA Margin 27% 27% 28% 28% 28%

(2) 128 150 173 190 202

EBIT

(3) (51) (47) (42) (35) (28)

Less Net Interest Expense

(4) 24 25 27 28 29

Plus Stock-Based Compensation

(4) 11 10 9 6 0

Plus Non-Cash Interest Expense

(5) 99 99 99 99 99

Plus Non-Cash Acquisition Amortization

Adj. EBT $210 $236 $265 $287 $302

Less Taxes (83) (93) (105) (114) (119)

Normalized Tax Rate 39.5% 39.5% 39.5% 39.5% 39.5%

Adj. Net Income $127 $143 $161 $174 $183

Net Income Growth 14% 12% 12% 8% 5%

(6) 124.0 124.0 124.0 124.0 124.0

Non-GAAP FDSO

Adj. EPS $1.03 $1.15 $1.30 $1.40 $1.47

EPS Growth 12% 12% 12% 8% 5%

Notes

1. 2011E – 2013E based on I/B/E/S median consensus (2013E based on growth rates) and 2014E – 2015E based on Wall Street research

2. EBITDA less D&A and SBC

3. Assumes $949MM of financial debt (excludes data sublicense obligation of $40.3MM) and $99MM of cash as of 12/31/10, 7.5% total GAAP interest expense rate, $100MM annual debt

paydown ($50MM paydown in 2011) and cash grown at levered FCF assuming 1% pre-tax interest income

4. Based on Wall Street research (SBC ~2% of Revenue)

5. Per management guidance

6. Per management guidance in FY2010 and Q1 2011 press releases; includes options on a gross basis

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Earth Summary Financials (cont’d) (1)

Cash Flow Statement and Balance Sheet Items; Street Case

Cash Flow Statement

$MM

Based on I/B/E/S Consensus Projected

2011E 2012E 2013E 2014E 2015E

Adj. Net Income $127 $143 $161 $174 $183

(2) 52 55 59 64 67

D&A ex. Acquisition Amortization

(2) (54) (50) (53) (56) (58)

CapEx

Acquisition (41) 0 0 0 0

(2) (6) (7) (6) (6) (6)

Change in Working Capital

(3) (8) (8) (8) (8) (8)

Data Sublicense

LFCF $70 $134 $154 $169 $179

Cumulative LFCF $70 $204 $358 $526 $706

Balance Sheet Items

$MM

Based on I/B/E/S Consensus Projected

2011E 2012E 2013E 2014E 2015E

(4) $899 $799 $699 $599 $499

Total Financial Debt

(5) ($52) ($49) ($44) ($37) ($32)

Total Interest Expense

Beginning Cash $99 $120 $154 $207 $276

(6) 20 34 54 69 79

Change in Cash

Ending Cash $120 $154 $207 $276 $355

(6) 1 1 2 2 3

Interest Income

Net Interest Expense ($51) ($47) ($42) ($35) ($28)

Notes

1. 2011E – 2013E based on I/B/E/S median consensus and 2014E – 2015E based on Wall Street research

2. Based on Wall Street research (Total D&A including $99MM of transaction amortization ~13% of Revenue, Capex ~4% of Revenue, Change in working capital ~9% of incremental Revenue) 3. $7.5MM annually per H&F guidance

4. Assumes $50MM paydown in 2011 and $100MM annual debt paydown thereafter (excludes data sublicense obligation of $40.3MM)

5. Assumes 7.5% total GAAP interest expense rate

6. Assumes 1% pre-tax interest income

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Earth Summary Financials (1)

Summary P&L; Revised Management Case

Summary P&L

MM, except per share amounts

Management Forecast Projected

2011E 2012E 2013E 2014E 2015E

Revenue $1,140 $1,206 $1,281 $1,364 $1,456

Revenue Growth 14% 6% 6% 6% 7%

Adj. EBITDA $305 $332 $359 $389 $419

Adj. EBITDA Growth 14% 9% 8% 8% 8%

Adj. EBITDA Margin 27% 28% 28% 29% 29%

(2) 130 152 174 197 222

EBIT

(3) (51) (47) (42) (35) (28)

Less Net Interest Expense

(4) 24 25 27 29 31

Plus Stock-Based Compensation

(4) 11 10 9 6 0

Plus Non-Cash Interest Expense

(5) 99 99 99 99 99

Plus Non-Cash Acquisition Amortization

Adj. EBT $213 $239 $266 $296 $324

Less Taxes (84) (94) (105) (117) (128)

Normalized Tax Rate 39.5% 39.5% 39.5% 39.5% 39.5%

Adj. Net Income $129 $145 $161 $179 $196

Net Income Growth 15% 12% 11% 11% 9%

(6) 124.0 124.0 124.0 124.0 124.0

Non-GAAP FDSO

Adj. EPS $1.04 $1.17 $1.30 $1.44 $1.58

EPS Growth 13% 12% 11% 11% 9%

Notes

1. Per management guidance

2. EBITDA less D&A and SBC

3. Assumes $949MM of financial debt (excludes data sublicense obligation of $40.3MM) and $99MM of cash as of 12/31/10, 7.5% total GAAP interest expense rate, $100MM annual debt paydown ($50MM paydown in 2011) and cash grown at levered FCF assuming 1% pre-tax interest income

4. Based on Wall Street research (SBC ~2% of Revenue)

5. Per management guidance

6. Per management guidance in FY2010 and Q1 2011 press releases; includes options on a gross basis

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Earth Summary Financials (cont’d) (1)

Cash Flow Statement and Balance Sheet Items; Revised Management Case

Cash Flow Statement

$MM

Management Forecast Projected

2011E 2012E 2013E 2014E 2015E

Adj. Net Income $129 $145 $161 $179 $196

(2) 52 55 59 64 67

D&A ex. Acquisition Amortization

(2) (50) (55) (55) (55) (58)

CapEx

Acquisition (41) 0 0 0 0

(2) (4) (7) (8) (9) (10)

Change in Working Capital

(3) (8) (8) (8) (8) (8)

Data Sublicense

LFCF $78 $130 $150 $172 $188

Cumulative LFCF $78 $208 $358 $530 $718

Balance Sheet Items

$MM

Management Forecast Projected

2011E 2012E 2013E 2014E 2015E

(4) $899 $799 $699 $599 $499

Total Financial Debt

(5) ($52) ($49) ($44) ($37) ($32)

Total Interest Expense

Beginning Cash $99 $127 $158 $207 $279

(6) 28 30 50 72 88

Change in Cash

Ending Cash $127 $158 $207 $279 $367

(6) 1 1 2 2 3

Interest Income

Net Interest Expense ($51) ($47) ($42) ($35) ($28)

Notes

1. Per management guidance

2. Based on Wall Street research (Total D&A including $99MM of transaction amortization ~13% of Revenue, Capex ~4% of Revenue, Change in working capital based on projected Accounts Receivables balance) 3. $7.5MM annually per H&F guidance

4. Assumes $50MM paydown in 2011 and $100MM annual debt paydown thereafter (excludes data sublicense obligation of $40.3MM)

5. Assumes 7.5% total GAAP interest expense rate

6. Assumes 1% pre-tax interest income

Project Space

CONFIDENTIAL & PRELIMINARY

SUPPLEMENTAL MATERIALS

Weighted Average Cost of Capital Calculations

Earth WACC—10 Yr Avg 10 Year US Treasury

$MM, except per share amounts

Share Price $14.88

FDSO (MM) 115.8

Market Value of Equity $1,723

(1) $987

Total Debt

Total Capital $2,710

Equity / Capital 63.6%

Debt / Capital 36.4%

Cost of Debt:

(2) 4.8%

Cost of Debt

(3) 39.5%

Tax Rate

After-tax Cost of Debt 2.90%

Cost of Equity:

Risk Free Rate, 10 Year Average 4.1%

Barra Predicted Beta 1.20

Market Risk Premium 4.0%—6.0%

(4) 8.9%—11.3%

Cost of Equity:

WACC 6.7%—8.2%

Risk Free Rate

U.S. Treasury Overview

10-Yr

Current (5/23/11) 3.2%

MSER Proj. Yr. End 4.0%

10-Year Average 4.1%

Notes

1. Includes unamortized OID

2. Weighted average cost of debt based on current bank debt and interest rates

3. Assumed per management guidance

4. Based on Capital Asset Pricing Model