Thomson Reuters : 2021 Fact Book

Fact Book

2021

Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting, and compliance professionals combined with the world's most global news service - Reuters.

For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.

Special note

This Fact Book is a summary of certain previously disclosed information and is not meant to substitute for filings, submissions, or announcements made by Thomson Reuters with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. Investors should consult Thomson Reuters actual filings, submissions, and announcements when making investment decisions. You can find copies of our 2020 annual report, 2021 quarterly earnings releases, investor presentations and reports containing management's discussion and financial statements on our website: ir.thomsonreuters.com/financial-information/quarterly-reports

Cautionary note concerning this Fact Book and factors that may affect future results

Certain statements in this Fact Book and our filings, submissions and announcements with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission are forward-looking, including, but not limited to, statements regarding the potential or expected impact of the COVID-19 pandemic on Thomson Reuters, its customers and the general economy, statements about the company's outlook and other expectations regarding the future financial and operational performance of the company and its individual business segments, the company's strategic priorities, initiatives and opportunities and the company's expectations regarding its Change Program. While the company believes that it has a reasonable basis for making forward-looking statements in this Fact Book, they are not a guarantee of future performance or outcomes and there is no assurance that any of the events described in any forward-looking statement will materialize. Forward-looking statements, including those related to the COVID-19 pandemic, are subject to a number of risks, uncertainties, and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond our company's control and the effects of them can be difficult to predict. In particular, the full extent of the impact of the COVID-19 pandemic on our business, operations, and financial results will depend on numerous evolving factors that we may not be able to accurately predict. Some of the factors that could cause actual results to differ materially from current expectations are discussed in the "Risk Factors" section of our annual report and in other materials that we from time to time file with, or furnish to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. Many of those risks are, and could be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result.

Please refer to our 2021 quarterly filings, submissions and announcements for our current business outlook, which we provide for the purpose of presenting information about current expectations for 2021, 2022, and 2023. Our company has provided a business outlook for the purpose of presenting information about current expectations for the periods presented. This information may not be appropriate for other purposes. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this presentation. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements. The company's business outlook is based on information currently available to the company and is based on various external and internal assumptions made by the company in light of its experience and perception of historical trends, current conditions, and expected future developments, as well as other factors that the company believes are appropriate under the circumstances. Please refer to our 2021 quarterly reports, which are available on www.tr.com, for a discussion of material assumptions and material risks related to our business outlook.

Unless otherwise indicated in this Fact Book, information is given as of April 1, 2021.

Information contained on our website or any other websites identified in this Fact Book is not part of this Fact Book. All website addresses listed in this Fact Book are intended to be inactive, textual references only. The Thomson Reuters logo and our other trademarks, trade names, and service names mentioned in this annual report are the property of Thomson Reuters.

Non-IFRS financial measures

In this Fact Book, we discuss our results on an IFRS and non-IFRS basis. Please see the "Reconciliations" section of this Fact Book, our 2020 annual report and 2021 quarterly reports, which are available on www.tr.com, for a reconciliation of each of Thomson Reuters measures to the most directly comparable IFRS financial measure. You can also find IFRS reconciliations in the "Investor Relations" section of our website.

Other than earnings per share (EPS), we report our results in millions of U.S. dollars, but we compute percentage changes and margins using whole dollars to be more precise. As a result, percentages and margins, calculated from reported amounts, may differ from those presented, and growth components may not total due to rounding.

Table of Contents	1

3	Business	17	Historical Financial	28	Business
Overview	Information	Segments
4	Business Overview	18	Historical Financial	30	Legal Professionals
5	Revenues by Segment		Information	40	Corporates
19	Key Metrics
6	Performance Highlights and	46 Tax & Accounting Professionals
	Key Accomplishments	20	Segment Information	54	Reuters News
9	Business Model and Key	22	Share Price Performance
56	Global Print
	Operating Characteristics	23	Returns to Shareholders
10	Key Strengths and Highlights
24	Common Share
11	Our Value Creation Model
	Dividend History
12	Our Strategy	25	Capital Structure
14	Executive Team	26	Debt

59	Additional Business		Appendix
Information	71
60	Products, Customers,	72	Three-Year History
	and Primary Competition	73	Acquisitions and Divestitures
62	Additional Business Information
74	Non-IFRS Financial Measures
64	Social Impact
77	Reconciliations

1. Thomson Reuters Foundation
2. Trust Principles and Founders
   Share Company

1. Board of Directors
2. Contact Information

Thomson Reuters Fact Book 2021 Business Overview