Woodbridge representatives Michael Friisdahl and Paul Sagan nominated to Thomson Reuters' Board of Directors at AGM

TORONTO, April 16, 2025 /CNW/ - The Woodbridge Company Limited ("Woodbridge"), Thomson Reuters' principal shareholder, today announced that Michael Friisdahl and Paul Sagan were nominated for election to the Thomson Reuters' board of directors as representatives of Woodbridge following a search by Woodbridge and Thomson Reuters. Mr. Friisdahl and Mr. Sagan will stand for election at Thomson Reuters' upcoming annual meeting of shareholders to be held on June 4, 2025 (the "AGM"). Information regarding Mr. Friisdahl and Mr. Sagan will be included in Thomson Reuters' management proxy circular for the AGM.

Early Warning Disclosure

This press release is being issued by Woodbridge pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"), which requires a report to be filed under Thomson Reuters' profile on SEDAR+ (www.sedarplus.com) containing additional information respecting the foregoing matters. Thomson Reuters' head office address is 19 Duncan St., Toronto, Ontario, M5H 3H1, Canada.

Woodbridge and Thomson Investments Limited ("TIL"), a holding company of Woodbridge, have filed on SEDAR+ an amended early warning report in compliance with NI 62-103 to disclose changes in certain material facts relating to their ownership of common shares of Thomson Reuters ("Common Shares") as a result of the nomination of Messrs. Friisdahl and Sagan to the Thomson Reuters board.

TIL is the beneficial owner of 313,508,841 Common Shares, representing approximately 69.6% of the outstanding Common Shares. Of those Common Shares, Woodbridge is the beneficial owner of 300,551,801 Common Shares, representing approximately 66.7% of the outstanding Common Shares.

For further information, including a copy of the corresponding report filed with Canadian securities regulators, please visit www.sedarplus.com or contact The Woodbridge Company Limited, 65 Queen Street West, Suite 2400, Toronto, Ontario, M5H 2M8, Canada, Attention: David Colman (dcolman@woodbridge.com), 416.364.8700.

About Woodbridge

The Woodbridge Company Limited is the primary investment vehicle for the Thomson family of Canada. It has a number of investments, including a majority stake in Thomson Reuters, listed on the Toronto Stock Exchange and the Nasdaq.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS

Certain statements in this news release, including, but not limited to, statements relating to the nomination of Messrs. Friisdahl and Sagan to the Thomson Reuters board, are forward-looking. The words "will", "expect", "believe", "target", "estimate", "could", "should", "intend", "predict", "project" and similar expressions identify forward-looking statements. While Woodbridge believes that they have a reasonable basis for making the forward-looking statements in this news release, they are not a guarantee of future outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond Woodbridge's control and the effects of them can be difficult to predict.

Except as may be required by applicable law, Woodbridge disclaims any obligation to update or revise any forward-looking statements.

SOURCE The Woodbridge Company Limited