Abstract: An exterior insulating system for a building includes at least one insulating panel having a wall-facing side and an outward-facing side, a top and a bottom, the at least one insulating panel having a slope at the top that angles downwardly from the wall-facing side to the outward-facing side; at least one elongated clip member fastenable along a soffit that is extending outwards from a wall of the building; and at least one auxiliary panel having a first edge that is dimensioned to be received by the at least one elongated clip member opposite a main body of the at least one auxiliary panel from a second edge of the at least one auxiliary panel that is connectable to the at least one insulating panel, the main body incorporating structure for permitting airflow through the main body.