Thomson Reuters Announces New US$600 Million Share Repurchase Program and US$605 Million Return of Capital and Share Consolidation Transactions

Core Viewpoint - Thomson Reuters has announced a new share repurchase program of up to US$600 million and a return of capital transaction totaling US$605 million, which includes a share consolidation expected to be completed in May 2026 [1][2][3] Share Repurchase Program - The amended normal course issuer bid (NCIB) will allow the repurchase of up to 16 million common shares, increasing the maximum by an additional 6 million shares [1][2] - The repurchase period is set from August 19, 2025, to August 18, 2026, with a limit of 91,026 shares per day based on average trading volume [1][2] - Thomson Reuters has already repurchased 6,022,437 shares for approximately US$1.0 billion at an average price of US$166.05 per share under the current NCIB [1][2] Return of Capital - A special cash distribution of US$605 million is planned, equating to approximately US$1.36 per participating share, based on the number of shares outstanding as of February 24, 2026 [1][3] - The return of capital is expected to be tax-free for Canadian tax purposes, with non-Canadian resident shareholders having the option to opt out [1][3] - Shareholders will vote on the proposed return of capital and share consolidation on April 28, 2026, requiring at least two-thirds approval [2][3] Share Consolidation - Following the cash distribution, a share consolidation will occur, reducing the number of common shares proportionally to the cash distribution [1][3] - The consolidation ratio will be based on the volume-weighted average trading price of the shares on Nasdaq for the five trading days prior to the effective date [3]