ESPECTROFOTOMETRÍA INFRARROJA

The historical financial information has been adjusted to give pro forma effect to events that are (i) directly attributable to the Reorganization and this offering, (ii) factually supportable, and (iii) with respect to the statements of income, expected to have a continuing impact on the future results.

Our historical results are derived from our audited consolidated statements of income of Holdings for the years ended December 31, 2013, 2012 and 2011 and audited consolidated balance sheet of Holdings as of December 31, 2013 under U.S. GAAP.

Description of the Transaction

In anticipation of this offering, Software consummated the Reorganization as of January 1, 2014, pursuant to which (i) the owners of WCAS Holdings and CP IV Blocker, which are affiliates of Welsh, Carson, Anderson & Stowe, contributed WCAS Holdings and CP IV Blocker, which collectively own all of the Series A Preferred Units of Holdings, to Software in exchange for shares of common stock of Software and (ii) the owners of outstanding Series B Preferred Units of Holdings contributed their Series B Preferred Units for shares of common stock of Software. Immediately after these contributions, a wholly-owned subsidiary of Software merged with and into Holdings with Holdings surviving the merger. Upon consummation of the merger, the remaining holders of outstanding common and incentive units of Holdings received shares of common stock of Software for their common and incentive units by operation of Delaware law and Holdings’ ownership in Software was cancelled. This resulted in Software controlling, directly or indirectly, Holdings, including Payroll, WCAS Holdings and CP IV Blocker. Outstanding common units, Series B Preferred Units, and incentive units of Holdings were converted into 45,708,573 shares of common stock and 8,121,101 shares of restricted stock of Software at the following conversion rates:

• Outstanding common units, Series B Preferred Units, WCAS Holdings and CP IV Blocker were contributed to Software in exchange for, or converted into, the number of shares of common stock determined by a ratio of common units, Series B Preferred Units and Series A Preferred Units to shares of common stock of approximately 1:47, resulting in issuance of 44,560,053 shares of common stock. • Vested incentive units were converted to shares of common stock and restricted stock at various

conversion ratios, which ranged from approximately 1:0.2 to 1:24. Unvested incentive units were converted to shares of restricted stock at various conversion ratios, which ranged from 1:24 to 1:47. The conversion to shares of common stock versus restricted stock was determined based on the underlying conditions of the pre-conversion incentive units, reflecting any pre-existing vesting conditions. This resulted in the issuance of 1,148,520 and 8,121,101 shares of common stock and restricted stock, respectively.

The restricted stock was issued subject to various vesting conditions. A portion of the restricted stock is subject to a time-based vesting condition while the remaining portion is subject to performance-based vesting conditions. The performance-based vesting is based on the Company’s total enterprise value exceeding certain

WCAS Holdings and CP IV Blocker do not have any independent operations or any significant assets or liabilities and do not comprise a business. The acquisition of WCAS Holdings is deemed to be a reorganization under common control and therefore its underlying assets and liabilities are not required to be re-measured at fair value on the acquisition date. The acquisition of CP IV Blocker is not deemed to be a reorganization under common control and therefore the underlying assets and liabilities are recorded at fair value on their acquisition date.

2. Notes to unaudited pro forma condensed consolidated balance sheet

(a) Reflects adjustments to deferred income tax assets and liabilities as a result of recognizing related deferred tax assets and liabilities assuming that the Reorganization occurred on December 31, 2013. (b) Represents the conversion of common units and Series A Preferred Units to common stock. The

amount was estimated given that the Members’ Capital balance ceased to exist upon the Reorganization.

(c) Reflects the inclusion of WCAS Holdings’ assets and liabilities accounted for as a transaction under common control.

(d) Reflects the inclusion of CP IV Blockers’ assets and liabilities recorded at fair value as a result of the acquisition.

(e) Reflects the assumption of the 2017 Note which replaced the Series C Preferred Units in connection with the Reorganization.

(f) Reflects the effect of the net offering proceeds which will be used to repay the 2022 Note issued by us to an affiliate of Welsh, Carson, Anderson & Stowe in the amount of approximately $18.8 million and the 2017 Note issued by between WCAS Holdings in the amount of approximately $46.2 million (including certain payments made pursuant to a contribution agreement). Any additional net offering proceeds have been excluded for purposes of the pro forma financial information.

The 2022 Note was issued at a discount of $2.4 million and also contained a prepayment feature which was valued at $2.1 million. The prepayment feature was recorded as a derivative liability at inception and is recorded at fair value at December 31, 2013. Upon the settlement of the 2022 Note, the derivative liability would cease to exist and therefore a gain is recognized upon the settlement of the liability.

(g) Reflects reclassification of historic accumulated deficit to additional paid in capital due to the Reorganization.

3. Notes to unaudited pro forma condensed consolidated statements of income

(a) Reflects the inclusion of the results of operations from WCAS Holdings assuming that the

Reorganization took effect on January 1, 2011 and assuming the acquisition of CP IV Blocker occurred on January 1, 2011 and therefore gave rise to Software controlling these entities.

(b) Represents adjustments to income tax expense in connection with the deferred income tax assets and liabilities recognized given the Reorganization, which assumed that Holdings was operating as a C-

corporation effective January 1, 2011. The amount was determined using an estimated statutory rate of 39%. (c) Reflects the recording of interest expense upon assuming the 2017 Note which accrues interest at

14% per annum. The 2017 Note replaced the Series C Preferred Units in the Reorganization. The interest expense is removed in the initial public offering adjustment, assuming a portion of the net proceeds from this offering were used to repay the 2017 Note on January 1, 2011.

(d) Reflects the removal of the amortization from the 2022 Note issued at discount and the related interest expense as a result of using a portion of the net proceeds from this offering to repay the 2022 Note.

(e) Reflects the removal of the unrealized gains recognized for the derivative liability relating to the 2022 Note as a result of using a portion of the net proceeds from this offering to repay the 2022 Note. (f) Represents adjustments to income tax expense for the years ended December 31, 2013, 2012 and 2011

as a result of the tax impact on the pro forma adjustments relating to the Reorganization and this offering. The amount was determined using an estimated statutory tax rate of 39%.

(g) Pro forma as adjusted for the Reorganization net income per weighted average basic and diluted shares outstanding reflects the conversion of all our common units, Preferred Units and incentive units into 45,708,573 and 8,121,101 of common shares and restricted shares, respectively, assuming those shares were issued January 1, 2011.

(h) Pro forma net income as adjusted for the Reorganization and initial public offering per weighted average basic and diluted shares outstanding gives effect to the issuance of 4,606,882 common shares relating to the net offering proceeds which will be used to partially repay the 2022 Note and repay in full the 2017 Note, using the initial public offering price of $15.00 per share, and the conversion of all our common units, Preferred Units and incentive units into 45,708,573 and 8,121,101 of common shares and restricted shares, respectively, assuming all shares were issued January 1, 2011.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL