New York, January, 30, 2018 – A consortium led by Blackstone
(NYSE: BX) today announced that private equity funds managed by Blackstone (“Blackstone”)
– together with Canada Pension Plan Investment Board (“CPPIB”) and GIC – have
entered into a partnership agreement with Thomson Reuters (TSX / NYSE: TRI) for
Thomson Reuters’ Financial & Risk (F&R) business. Under the partnership
agreement, the Blackstone-led consortium will own 55 percent of the equity in a
new corporation created to hold the F&R business and Thomson Reuters will
retain a 45 percent equity stake, at an overall valuation of US$20 billion.

Thomson
Reuters F&R is a world-leading data and financial technology platform that
provides critical information and data analytics, enables financial
transactions, and connects communities of trading, investment, financial and
corporate professionals. It also provides leading regulatory and risk
management solutions to help customers anticipate and manage risk and
compliance.

Martin
Brand, a Senior Managing Director at Blackstone, said: “We are excited to
partner with Thomson Reuters – one of the most trusted companies in financial
technology. The F&R division has tremendous assets, including a world-leading
data business, essential risk and compliance solutions, OTC trading venues,
wealth management software, and a strong desktop business. The partnership with
Blackstone provides an opportunity to increase efficiency and accelerate
revenue growth through innovation and focus on creating uniquely compelling
products for F&R’s customers.”

Joe Baratta, Blackstone’s Global Head of Private
Equity, said: “We are delighted to partner with Thomson Reuters in continuing
to grow the Financial and Risk business. This is a landmark transaction for
Blackstone and our investment partners.”

Ryan
Selwood, Managing Director & Head of Direct Private Equity, CPPIB, said:
“This investment in F&R will broaden our portfolio in the growing financial
technology space. We are very pleased to support the evolution of a global
market leader.”

Choo Yong Cheen, Chief Investment Officer of
Private Equity at GIC, said: “As a long-term value investor, we believe this
business transformation will enable F&R to focus on its core customer base
and be in a strong position to continue delivering innovative products to the
market.”

Reuters
News will continue to remain a part of Thomson Reuters and will not be included
in the assets being acquired. The new F&R will enter into a 30-year
contract for the exclusive rights to distribute Reuters News through all
F&R products. Reuters News will continue to have complete editorial
independence from F&R and Thomson Reuters, as it does today.

Canson Capital Partners, BofA Merrill
Lynch, Citigroup, and J.P. Morgan are
acting as financial advisors to
the Blackstone-led consortium, and Simpson Thacher & Bartlett LLP is acting
as legal counsel to Blackstone.
Debt financing
related to the transaction is being provided by J.P. Morgan, BofA Merrill
Lynch, and Citigroup. Dechert LLP is acting as legal counsel to GIC.

Matteo Canonaco, co-founder of Canson Capital Partners, said: “We are delighted
to advise the Blackstone-led consortium on a transaction that epitomizes the
positive role that private equity can play by teaming up with major
corporations and enabling them to achieve mission-critical strategic
objectives.”

The transaction is expected to close in the second half of 2018.

About Blackstone
Blackstone
is one of the world’s leading investment firms. We seek to create positive
economic impact and long-term value for our investors, the companies we invest
in, and the communities in which we work. We do this by using extraordinary
people and flexible capital to help companies solve problems. Our asset
management businesses, with over $385 billion in assets under management,
include investment vehicles focused on private equity, real estate, public debt
and equity, non-investment grade credit, real assets and secondary funds, all
on a global basis. Further information is available at 
www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About CPPIB

Canada
Pension Plan Investment Board (CPPIB) is a professional investment management
organization that invests the funds not needed by the Canada Pension Plan (CPP)
to pay current benefits on behalf of 20 million contributors and beneficiaries.
In order to build a diversified portfolio of CPP assets, CPPIB invests in
public equities, private equities, real estate, infrastructure and fixed income
instruments. Headquartered in Toronto, with offices in Hong Kong, London,
Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and
managed independently of the Canada Pension Plan and at arm’s length from
governments. At September 30, 2017, the CPP Fund totalled C$328.2 billion. For
more information about CPPIB, please visit
www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

About GIC

GIC is a leading global investment firm established in 1981 to
manage Singapore’s foreign reserves. A disciplined long-term value investor,
GIC is uniquely positioned for investments across a wide range of asset
classes, including equities, fixed income, private equity, real estate and
infrastructure. In private equity, GIC invests through funds as well as
directly in companies, partnering with its fund managers and management teams
to help world class businesses achieve their objectives. GIC has investments in
over 40 countries and has been investing in emerging markets for more than two
decades. Headquartered in Singapore, GIC employs over 1,400 people across 10
offices in key financial cities worldwide. For more information on GIC, please
visit 
www.gic.com.sg.

About Thomson Reuters

Thomson Reuters is the
world’s leading source of news and information for professional markets. Our
customers rely on us to deliver the intelligence, technology and expertise they
need to find trusted answers. The business has operated in more than 100
countries for more than 100 years. For more information, visit 
www.thomsonreuters.com or www.tr.com.

New York, January, 30, 2018 – A consortium led by Blackstone (NYSE: BX) today announced that private equity funds managed by Blackstone (“Blackstone”) – together with Canada Pension Plan Investment Board (“CPPIB”) and GIC – have entered into a partnership agreement with Thomson Reuters (TSX / NYSE: TRI) for Thomson Reuters’ Financial & Risk (F&R) business. Under the partnership agreement, the Blackstone-led consortium will own 55 percent of the equity in a new corporation created to hold the F&R business and Thomson Reuters will retain a 45 percent equity stake, at an overall valuation of US$20 billion.

Thomson Reuters F&R is a world-leading data and financial technology platform that provides critical information and data analytics, enables financial transactions, and connects communities of trading, investment, financial and corporate professionals. It also provides leading regulatory and risk management solutions to help customers anticipate and manage risk and compliance.

Martin Brand, a Senior Managing Director at Blackstone, said: “We are excited to partner with Thomson Reuters – one of the most trusted companies in financial technology. The F&R division has tremendous assets, including a world-leading data business, essential risk and compliance solutions, OTC trading venues, wealth management software, and a strong desktop business. The partnership with Blackstone provides an opportunity to increase efficiency and accelerate revenue growth through innovation and focus on creating uniquely compelling products for F&R’s customers.”

Joe Baratta, Blackstone's Global Head of Private Equity, said: “We are delighted to partner with Thomson Reuters in continuing to grow the Financial and Risk business. This is a landmark transaction for Blackstone and our investment partners.”

Ryan Selwood, Managing Director & Head of Direct Private Equity, CPPIB, said: “This investment in F&R will broaden our portfolio in the growing financial technology space. We are very pleased to support the evolution of a global market leader.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said: “As a long-term value investor, we believe this business transformation will enable F&R to focus on its core customer base and be in a strong position to continue delivering innovative products to the market.”

Reuters News will continue to remain a part of Thomson Reuters and will not be included in the assets being acquired. The new F&R will enter into a 30-year contract for the exclusive rights to distribute Reuters News through all F&R products. Reuters News will continue to have complete editorial independence from F&R and Thomson Reuters, as it does today.

Canson Capital Partners, BofA Merrill Lynch, Citigroup, and J.P. Morgan are acting as financial advisors to the Blackstone-led consortium, and Simpson Thacher & Bartlett LLP is acting as legal counsel to Blackstone. Debt financing related to the transaction is being provided by J.P. Morgan, BofA Merrill Lynch, and Citigroup. Dechert LLP is acting as legal counsel to GIC.

Matteo Canonaco, co-founder of Canson Capital Partners, said: “We are delighted to advise the Blackstone-led consortium on a transaction that epitomizes the positive role that private equity can play by teaming up with major corporations and enabling them to achieve mission-critical strategic objectives.”

The transaction is expected to close in the second half of 2018.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About CPPIB

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2017, the CPP Fund totalled C$328.2 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,400 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Thomson Reuters

Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. For more information, visit www.thomsonreuters.com or www.tr.com.

Article Contacts

Blackstone Media Contact

Matt
Anderson
Senior Vice President, Global Public Affairs
T: 212 390 2472
matthew.anderson@blackstone.com

CPPIB Media Contacts

Mei Mavin
Director, Global Corporate Communications
T: +44 203 205 3406
mmavin@cppib.com

Dan Madge
Senior
Manager, Media Relations
T:
+1 416 868 8629
dmadge@cppib.com 

GIC Media Contacts

Ms Mah Lay Choon
Senior Vice President,
Communications
Tel: +65 6889 6841
mahlaychoon@gic.com.sg 

Ms Wendy Wong
Senior Vice President,
Communications
Tel: +65 6889 6928
wendywong@gic.com.sg