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Thomson Reuters Markets Investor REUTERS/Lucas Jackson THOMSON REUTERS MARKETS INVESTOR DAY March 31, 2011 REUTERS/Lucas Jackson WELCOME Frank Golden Senior Vice President, Investor Relations 2011 Investor Day Thomson Reuters Markets Division Agenda • Welcome & Agenda Frank Golden • Markets Strategy Devin Wenig • Revenue Growth & Margin Improvement David Turner • Enterprise Platform: Elektron Jon Robson • Desktop Platform: Eikon Matthew Burkley • Eikon for Investment Management Neil Masterson • Growth Vectors Jas Singh, Steve Roycroft, Roseann Palmieri, Basil Moftah • Simplification: Integration & Platforms Peter Moss • Eikon Product Demonstration Harry Temkin & Andrew Brenner 1 Special Note Safe Harbor / Forward-Looking Statements • The following discussion contains forward-looking statements, including those about Thomson Reuters outlook and prospects. Forward-looking statements are those which are not historical facts. These and other statements that relate to future results and events are based on Thomson Reuters current expectations. • Our actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. The risks and uncertainties that we believe are material are outlined in our disclosure filings and materials, which you can find on www.thomsonreuters.com. Please consult these documents for a more complete understanding of these risks and uncertainties. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Our outlook is provided for the purpose of providing information about current expectations for 2011. This information may not be appropriate for other purposes. Non-IFRS Financial Measures • This presentation contains disclosures of certain non-IFRS financial measures. Please see the “Investor Relations” section of our website for a reconciliation of each of these measures to the most directly comparable IFRS financial measure. You can also find IFRS reconciliations in the tables attached to our earnings release dated February 10, 2011, which is also available on www.thomsonreuters.com. 2 REUTERS/Lucas Jackson MARKETS STRATEGY Devin Wenig Chief Executive Officer, Markets Division 2011 Investor Day Markets Strategy Overview Indispensible to the world economy 40,000 customers - 500,000 end users - 155 countries • Support > 5,000 • World's largest multimedia investment firms and news agency hedge funds world-wide WE POWER WE POWER • 450 of the world’s largest • Real-time and historical FINANCIAL NEWSROOMS… broadcasters use our news data from over 250 MARKETS… content exchanges • Over 9,400 market-moving • 800 million shares of beats and exclusives a year global liquidity • 780 global trading partners • $1 trillion FX volume / week WE INFORM • Reach 1 billion people every day in 19 • Over $100 billion / day on THE WORLD… languages through our news distribution Spot Matching • Our websites generate 1.8 billion page views / year 1 Markets Strategy Business Unit Structure Markets Division Devin Wenig Chief Executive Officer $7.4 billion Sales & Trading Investment & Advisory Enterprise Reuters Media Matthew Burkley Eric Frank Jon Robson Chris Ahearn Interim President President President President $3.5 billion $2.2 billion $1.4 billion $300 million Chief Financial Officer – David Turner Global Sales and Customer Service – Joerg Floeck Content, Technology and Operations – Peter Moss Editor in Chief – Stephen Adler Revenues shown above are for fiscal year 2010 2 Markets Strategy 2010 Revenues Business Unit Media 4% Sales & Geography Trading Enterprise 48% 18% Revenue Type Asia 17% Recurring Investment 87% EMEA & Advisory 45% 30% Transactions 10% Americas Outright 38% 3% 3 Markets Strategy Position in Market Sectors Sector Size Position Exchange Traded Instruments $6B #2 Fixed Income $4B #2 Sales & Trading Treasury $3B #1 Commodities and Energy $1B #1 Investment Management $4B #1 Corporate Services $4B #1 Investment & Advisory Wealth Management $3B #1 Investment Banking $2B #2 Enterprise Platform, Content & Post-Trade $6B #1 Media International News Agency $1B #1 Total $35B(1) (1) Total market sizes does not equal sum of individual markets due to rounding 4 Markets Strategy Forces Shaping the Financial Services Industry Global & Macro Shifts Factors to Watch • Economic Growth in Developed and Developing Markets • Financial Services Headcount Data Global Increasing Volumes Capital Risk & • Capital and Transparency &Velocity Markets Regulation Requirements (Basel III, Dodd-Frank) • Over-the-counter Regulation • Transaction Activity Changing • Automated Trading Demo- graphics 5 Markets Strategy Milestones Since the Acquisition Close April 2009 April 2010 April 2011 Year of Integration One Company in One Year Year of Innovation Build Foundation for Growth Year of Delivery Position for Growth • Completed moves in top 20 • Significant innovation • Move to an integrated cities investments in preparation platform company • Shut down 40+ data centers for Eikon, Elektron and – Launched Eikon and Mobile product launches Elektron platforms and • Delivered integration savings Reuters Insider • Integrated technology – raised targets to $1.4B, • Sales reorganization moving platforms contributing to majority in Markets 3,500 staff to new, more $1.1B in 2009 run rate customer-aligned roles • Go-forward product strategy integration savings • Product migrations and shut • Integrated two cultures • Launched technology and downs operation efficiency – Shut down Ecowin, initiatives to drive margin StockVal and Reuters Plus 6 Big Wins Video Markets Strategy Vision 1 Becoming a Platform Company 2 Simplifying our Business 3 Driving Growth Mid-single digit revenue $7.4B growth 18% Margin mid-20% Margin 7 Markets Strategy #1 - Becoming a Platform Company 2010 2014 3000 Xtra Trader for Commodities Trader Domestics Reuters Station S&T Thomson ONE Equities Thomson ONE Equities Trader North America 3000 Xtra w/ Knowledge IM T1 IM T1 IA T1 A Streetevents T1 IA Starmine Knowledge for IM Baseline Baseline Stockval I&A T1 IB ThomsonONE.com ThomsonONE.com SDC T1 IR T1 Corp Dev Knowledge for Corporates RWM T1 Advisor Reuters Plus Co-location and managed hosting services IDN Front-to-back solutions in the cloud Peer-to-peer connectivity services Elektron BDN Next generation data feeds TDN Enterprise Products Being Migrated Strategic Platforms 8 Markets Strategy #2 - Simplifying Our Business % Complete Streamline Product Line • Product rationalization ~50% • Optimized product segmentation framework Sales Re-alignment • Increased customer focus and sales force specialization ~90% • More efficient service and support models with over 3,500 roles changing Technology Transformation • Data center simplification – going from 172 data centers to 6 ~50% • Order of magnitude increase in number of data enhancements Leverage Core Assets • Multi-faceted news organization that is broad, fast and smart ~60% • Content Marketplace – integration and availability of content across silos 9 Markets Strategy #3 - Driving Growth Over 40% of Markets revenues are in high growth sectors Key High Growth Vectors Market Sector Growth Enterprise Infrastructure 7-9% Real-time Content 6-8% Core Growth Enterprise Content 6-8% Vectors Business Trading Marketplaces: FX & Fixed Income 4-6% ~60% ~40% Fixed Income (excluding Transactions) 4-5% Commodities and Energy 5-7% Corporate Services 4-6% Rapidly Developing Economies 9-11% 10 Markets Strategy Conclusion Thomson Reuters Markets is becoming a platform company, which will drive scale, innovation, agility and growth Growth Simplification Well positioned in key Drives efficiency and growth sectors margin improvement Goal: Mid-single digit revenue growth & mid 20% margin 11 REUTERS/Lucas Jackson REVENUE GROWTH & MARGIN IMPROVEMENT David Turner Chief Financial Officer, Markets Division 2011 Investor Day 2010 Recap Revenue Growth & Margin Improvement 2010 Results Revenue Growth Q4 2010 Revenues Sales & Trading Investment & Advisory Treasury (Currency) Investment Banking Commodities & Corporates Energy Equities, Retail Wealth Derivatives & Options Investment Fixed Income Management Tradeweb Media Pre-FX Growth >5% Other Enterprise Enterprise Content 0% to 5% Enterprise -5% to 0% <-5% 1 Revenue Growth & Margin Improvement Financial Performance Revenue Segment Operating Profit Margin 19.3% $7.9B 18.0% $7.4B $7.5B $7.4B 17.7% +6% -2% -1% 15.1% 2007 2008 2009 2010 2007 2008 2009 2010 2007 & 2008 revenues and operating profit margins are pro forma for Reuters acquisition. Revenue growth rates are pre-fx. 2 Revenue Growth & Margin Improvement 2010 Was a Year of Delivery 2010 Q1 Q2 Q3 Q4 Communities & Collaboration (S&T) Reuters Insider Eikon Apollo Public Relations in Elektron New Matching Host Reuters America Launches Corporate Services Aegisoft Mace Advisers Enterprise & S&T (S&T - Fixed Income) (Transactions) Point Carbon (S&T - C&E) Palantir Tradeweb (I&A – Invest. Mgmt) Acquisitions Partnerships Sales Force Unified Eikon Dedicated RDE Unit Specialization Development Alignment Thomson ONE IM StockVal Product Integration Bridge Data Reuters Plus Data Center Network Ecowin Shutdowns Consolidation (Aurora) 3 Revenue Growth & Margin Improvement Share Gains Growth Vectors Price Realization Leveraging our Investing in growth Improved offering Mid-Single Digit investments in sectors, with ~40% of delivers enhanced leading platforms to our business in Revenue Growth value to customers
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