Investor Update. March This material is proprietary to EDGAR Online 2011 EDGAR Online, Inc. All rights reserved.

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1 Investor Update March 2011 This material is proprietary to EDGAR Online. All rights reserved. 1

2 Safe Harbor Use of Forward-Looking Statements Forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 may be included in this presentation. These statements relate to future events and/or our future financial performance and include, without limitation, statements regarding our future growth prospects, future demand for our XBRL business, future innovations in our data and solutions and subscriptions business, future success of our strategic partnerships and the integration of UBmatrix into our business. These statements are only predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by EDGAR Online, Inc. with the SEC, which identify important risk factors that could cause actual results to differ from those contained in these forward-looking statements, including, but not limited to risks associated with our ability to (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) changes in general economic and business conditions (including in the online and XBRL business and financial information industry), (v) actions of our competitors, (vi) the extent to which we are able to develop new services and markets for our services, (vii) the time and expense involved in such development activities, (viii) risks in connection with acquisitions, (ix) the level of demand and market acceptance of our services, (x) changes in our business strategies and (xi) risks relating to the merger with UBmatrix, Inc. and the integration of its business into ours. EDGAR is a federally registered trademark of the U. S. Securities and Exchange Commission. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission EDGAR Online, Inc. All Rights Reserved. This document may not be copied, distributed, or otherwise transferred without the express permission of EDGAR Online, Inc. The copyrights of EDGAR Online, Inc. extend to the document and cover any uses of the document beyond your personal license. This includes modifications or derivative works. Any permitted use further requires appropriate attribution to EDGAR Online, Inc.

3 Highlights Evolution to leading provider of XBRL products and services that improve the flow of business information 2010 foundation for growth Capital infusion of $14 million Strengthened management team Built XBRL filings creation business & expertise Renewed focus on data business EDGR transformation underway 2 core lines of business XBRL-centric organization UBmatrix adds software capability Enhancing financial transparency 3

4 2010 Founda;on for Growth Raised $14 million via issuance of Series B and C prefs Completed acquisition of UBmatrix Added significant experience to management team Named Robert Farrell as President & CEO Forged new long term XBRL filings partnerships Focused on reducing costs with off shore partner SunGard Launched a new As Reported XBRL dataset Cash on hand at 12/31/10 of $11.0 million 4

5 Transforming EDGAR Online EDGAR Online was Document & Data-centric Value decreased over time Data quality issues Subscription Products Annual contracts Renewal issues XBRL Pioneer Development investment Internal use only 5

6 Transforming EDGAR Online EDGAR Online was Document & Data-centric Value decreased over time Data quality issues Subscription Products Annual contracts Renewal issues XBRL Pioneer Development investment Internal use only The New EDGAR Online XBRL Leader Data, software & filings businesses Profit orientation Data-centric XBRL and document based Technology enabled value-add Subscription business 6

7 The New EDGAR Online We provide XBRL products and services that create, deliver, analyze and use business information Our users benefit through the quality and usability of the information created, delivered or analyzed We have two lines of business Filings Data & Analysis Create Filings Deliver & Analyze Applications Data & Analysis XBRL Core Technology EDGAR Online 7

8 The Filings Business The Data & Analysis Business 8

9 Evolu;on Cycle For Each of Our Two Core Lines of Business Filings Data and Analysis Increasing Market Value 1. Execute Capture share profitably in SEC filings market while improving the data businesses 2. Evolve Align businesses around common leverage points (go-to-market, technology, product platform, etc.) 3. Disrupt Transform businesses into an integrated XBRL-enabled business information platform Outsourced Filing Services Capture SEC filings market share to establish profitable entry point for broader offering Leverage OEM relationships Filing Software + Outsourced Services Evolve from full service only to hybrid services + software model driven by customer choice Integration Supported by Services Drive integration of XBRL with corporate software systems, supported selectively by high-value services Stabilize + Build Foundation Stabilize cash flow Maintain existing offerings Improve execution Invest in XBRL infrastructure Focus + Value Add Streamline portfolio Improve functionality Create higher-value analysis capabilities Focus on power users Innovate Delivery and Business Model Provide next-generation technology platform and business model (e.g., custom normalization and API-enabled analytics) 9

10 Rapidly Expanding U.S. Filing Market for XBRL Public companies must tag 10-Ks & 10-Qs & more using XBRL Year 1 Primary Financial Statements and footnotes (block text) 3,500 tags Year 2 Primary Financial Statements and footnotes (detailed) 12,500 tags Furnished to SEC for first 24 months; filed (full liability) thereafter Mutual funds must file N1As (risk/return summary in XBRL) Timeline* largest filers Year 1 (PFS) PFS + Detailed footnotes 1,200 additional Large accelerated filers Year 1 (PFS) PFS + Detailed footnotes This Year 8,700 additional public, private & foreign filers 8,000+ Mutual Funds Year 1 (PFS) PFS + N1A Risk / Return Summary * Per XBRL mandate of the SEC 10

11 Key Ini;a;ves for the Filing Crea;on Business Expanding reach through channel partnerships Maintaining strong R.R. Donnelley partnership Signing additional partners to primarily address tier 2 & 3 filers Targeting mutual fund market with 4 initial partners Consolidating software partnerships with ORCL and SAP Improving in-house efficiency Process/technology improvements with each quarter s experience Training of staff to deal with peak capacity and filer support Leveraging UBmatrix software technology to enhance in-house tools Increasing scalability off shore capacity 11

12 Global Data Strategy Establish leadership and create value globally by empowering decision making through XBRL data Customer Value Build out US XBRL mandated data sets. Via partnerships, develop and link XBRL core data to regulatory non-mandated data Transform XBRL data via non-traditional data alliances, and Expand Globally Enhance current data products Execute Evolve Disrupt Expand Shareholder Value Financial & Market Insight month implementation 12

13 The UBmatrix Acquisi;on 13

14 The UBmatrix Merger is Strategic UBmatrix is the leading provider of XBRL software We expect to leverage this to improve offerings and internal efficiencies Software revenue expected to improve future profitability model UBmatrix agreements with Oracle and SAP to provide XBRL products Expands opportunities to address filing creation market Mitigates risk as filing market evolves Cross-sell opportunity for EDGAR Online products and services 14

15 A Comprehensive Set of XBRL Products and Services Create Consume Analyze Filers External Repor;ng ERP Integra;on Business Intelligence Regulators Collec;on Valida;on Compliance Data Users Data Research Analy;cs 15

16 2011 and beyond 16

17 Our Near Term Focus Continue execution of filing creation business Infrastructure right sizing (Improve profitability) Focus on execution (Build scale) Drive value and pricing with partners (Grow share) Execute and evolve our data offerings Deliver higher quality products Develop core XBRL related data products Developing new markets Pursue selected international opportunities Increase focus on OEM 17

18 Financial Summary (in $ Millions) Revenue Data & Subscriptions Filings Total Revenue Growth 2% Cash on hand EDGR is targe;ng annual revenue growth in excess of 25% over the next 3 years 18

19 Highlights Evolution to leading provider of XBRL products and services that improve the flow of business information 2010 foundation for growth Capital infusion of $14 million Strengthened management team Built XBRL filings creation business & expertise Renewed focus on data business EDGR transformation underway 2 core lines of business XBRL centric organization UBmatrix adds software capability Enhancing financial transparency 19

20 Investor Update March 2011 This material is proprietary to EDGAR Online. All rights reserved. 20