Thomson Reuters Corporation: Rating Report

DBRS Limited (DBRS) confirmed Thomson Reuters Corporation’s (Thomson Reuters or the Company) Issuer Rating as well as its Unsecured Medium-Term Notes and Unsecured Debentures ratings at BBB (high). DBRS has also confirmed Thomson Reuters’ Commercial Paper rating at R-2 (high) and its Preferred Shares rating at Pfd-3 (high). All trends are Stable. The confirmations incorporate the benefits of the Intellectual Property & Science (IP&S) divestiture and the Company’s practice of allocating divestiture proceeds and free cash flow in a balanced manner.