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The video tutorial explains the importance of adding superscript numbers to create footnotes in financial reports in Excel. Footnotes provide additional context or information for numbers in tables or graphs. To add superscript in Excel, highlight the number, go to the font section in the home ribbon, click on the expand button, check the superscript box, and click OK. This easily formats the number as superscript. However, this method doesn't work the same way for numbers in cells that are not text.