Footnotes

⁽¹⁾ Adjusted earnings and adjusted earnings per share include dividends declared on preference shares and amortization of the 2013 tax charges associated with the consolidation of technology and content assets but exclude the pre-tax impacts of amortization of other identifiable intangible assets as well as the post-tax impacts of fair value adjustments, other operating (gains) and losses, certain impairment charges, the results of Other Businesses (see note (2) below), other finance (income) costs, Thomson Reuters share of post-tax (earnings) losses in equity method investments, discontinued operations and other items affecting comparability. Adjusted earnings per share is calculated using diluted weighted-average shares and does not represent actual earnings or loss per share attributable to shareholders.

⁽²⁾ Other Businesses are businesses that have been or are expected to be exited through sale or closure that did not qualify for discontinued operations classification.

⁽³⁾ Reflects amortization of the 2013 tax charges associated with the consolidation of the ownership and management of technology and content assets. For the non-IFRS measure, the majority of the charges are amortized over seven years, the period over which the tax is expected to be paid.

⁽⁴⁾ Free cash flow is net cash provided by operating activities, other investing activities less capital expenditures, dividends paid on the company’s preference shares and dividends paid to non-controlling interests. Other Businesses (see note (2) above) are also removed to arrive at free cash flow from ongoing businesses.

⁽⁵⁾ Revenues from ongoing businesses are revenues from reportable segments and Corporate & Other (which includes Reuters News) less eliminations. Other Businesses (see note (2) above) are excluded.

⁽⁶⁾ Thomson Reuters defines adjusted EBITDA as underlying operating profit excluding the related depreciation and amortization of computer software. Adjusted EBITDA margin is adjusted EBITDA expressed as a percentage of revenues from ongoing businesses. Capital expenditures less proceeds from disposals (excluding Other Businesses (see note (2) above)) are also removed to arrive at adjusted EBITDA less capital expenditures. The related margin is expressed as a percentage of revenues from ongoing businesses.

⁽⁷⁾ Underlying operating profit is operating profit from reportable segments and Corporate & Other (includes Reuters News). Underlying operating profit margin is the underlying operating profit expressed as a percentage of revenues from ongoing businesses.