At Thomson Reuters, Corporate Responsibility (CR) is an integral part of the way we do business. As we integrate the Reuters businesses, we draw upon the heritage of both The Thomson Corporation and Reuters Group PLC to define our CR efforts.

Our executive committee approved our CR policy in 2008, establishing how we will manage our relationships with stakeholders in four areas: our workplace (employees), the community (the places and societies in which we operate), the marketplace (customers, suppliers and investors) and the environment. By articulating focus areas, we are able to define our response to global standards and charters in ways that are meaningful and relevant to our business.

Our immediate CR priorities are diversity, community impact, responsible sourcing and the environment. Additionally, in 2008 we launched our new Code of Business Conduct and Ethics to all staff.

During 2009, we will launch our implementation plans for these priorities, including measurement, reporting and governance. Against each commitment, we will assign a business owner and a performance target in order to meet legislative requirements, specific quantitative goals or our own CR ambitions. Our targets will be reviewed at least annually.

Our CR program is embedded in the way we do business, and thus we do not produce a stand-alone report. The following discussion highlights two of our priority areas.

Community Impact

We are committed to using our specialized knowledge, information, technology and other resources to develop great programs to help individuals, families and communities reach their full potential. These programs will be delivered through our more than 50,000 employees and by the Thomson Reuters Foundation, our U.K. and U.S. registered charity.

In 2008, our executive committee approved a community support policy, which sets out key programs that include volunteering and matched funding, as well as our approach to causes that we do and do not support. We also introduced the Thomson Reuters Community Champions Award program across the organization, through which 50 grants totaling $150,000 were awarded to staff-nominated not-for-profit organizations. A global volunteering policy for employees will be implemented as a way of supporting the communities in which we work, allowing each of our employees to spend a minimum of one paid day each year volunteering time to a local charity or community initiative. The Markets division and Legal employees, for example, each contributed approximately 1,800 volunteer days in 2008 to not-for-profit organizations and educational institutions in their communities.

Also in 2008, Thomson Reuters gave $1.7 million in general funding to the Thomson Reuters Foundation, and an additional $200,000 to the Foundation’s AIDFund program to support local relief efforts in the wake of the Myanmar cyclone and the earthquake in southwest China.

Environment

Consistent with our business model, our strategy is to move paper information to digital, which saves trees in printing and fossil fuel in shipping, and to run central data centers as efficiently as possible using the latest technologies. We have installed videoconference units in our largest locations to reduce travel. We use 100% recycled paper for our annual review and are offering our shareholders the option to receive information online.

However, our data centers, properties and staff have environmental impacts. In 2009, we will create a new data-gathering system to provide a more comprehensive understanding of our global resource consumption baseline, concentrating on relevant indicators such as energy, water, waste and paper consumption. This system will help us to track the progress of resource-saving initiatives as well as to prepare for the U.K. Carbon Reduction Commitment.

One additional way we address global environmental challenges is through the information we provide to customers and the public. Through Reuters Media we provide news on these topics, and encourage debate and increased awareness via dedicated environment-focused blogs and video channels.

Our Eagan, Minn., campus has been a member of Minnesota Waste Wise since the early 1990s, collaborating with other member companies on ways to reduce waste, conserve energy and adopt sustainable practices that save money and protect the environment. Additionally, the Eagan team applied for and won the Minnesota Waste Wise Leader Award in 2008, the third time we have been so recognized.

More than 11,200 tons of waste were recycled internally at the Eagan campus last year. We estimate that approximately 50% of all paper used in our manufacturing has recycled content, and all paper suppliers used by this location are Forest Stewardship Council certified.

The Trust Principles

Thomson Reuters is dedicated to upholding the Reuters Trust Principles and to preserving our independence, integrity and freedom from bias in the gathering and dissemination of information and news.

THE REUTERS TRUST PRINCIPLES ARE:

• That Thomson Reuters shall at no time pass into the hands of any one interest, group or faction;
• That the integrity, independence and freedom from bias of Thomson Reuters shall at all times be fully preserved;
• That Thomson Reuters shall supply unbiased and reliable news services to newspapers, news agencies, broadcasters and other media subscribers and to businesses, governments, institutions, individuals and others with whom Thomson Reuters has or may have contracts;
• That Thomson Reuters shall pay due regard to the many interests which it serves in addition to those of the media; and
• That no effort shall be spared to expand, develop and adapt the news and other services and products of Thomson Reuters so as to maintain its leading position in the international news and information business.

The Reuters Founders Share Company (RFSC) exists to safeguard the Reuters Trust Principles. The directors of the RFSC have a duty to ensure, insofar as they are able to do, that the Reuters Trust Principles are complied with.