Summary financial information

This document includes summary financial information and should not be considered a substitute for our full financial statements, including footnotes, management/auditors’ reports, and related management’s discussion and analysis (MD&A). You can access our 2017 audited financial statements, MD&A and other annual disclosures in the “Investor Relations” section of our website, www.thomsonreuters.com, as well as in our filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission.

Basis of presentation

Unless otherwise indicated, all amounts presented are from continuing operations, exclude the results of the IP & Science business, which was sold in October 2016, and include the results of our Financial & Risk business.

Non-IFRS financial measures

We use certain unaudited non-IFRS financial measures. These measures include adjusted EBITDA and the related margin, adjusted EBITDA less capital expenditures and the related margin, free cash flow, free cash flow (includes free cash flow from continuing operations and discounted operations), adjusted EPS, selected measures before the impact of the fourth quarter 2016 charges, and revenue growth before the impact of currency. Please see our 2017 annual report and earnings release dated February 8, 2018, which is available on www.thomsonreuters.com, for a reconciliation of measures to the most directly comparable IFRS financial measure. You can also find IFRS reconciliations in the “Investor Relations” section of our website. We use these non-IFRS financial measures as supplemental indicators of our operating performance and financial position. These measures do not have any standardized meaning prescribed by IFRS and therefore are unlikely to be comparable to the calculation of similar measures used by other companies, and should not be viewed as alternatives to measures of financial performance calculated in accordance with IFRS.