LSE Mergers and Acquisitions Presentation Deck

Key transaction terms Purchase price Management Governance Headquarters buksaim London Stock Exchange Group All share transaction Enterprise value of approximately $27bn with an equity value of $14.5bn (1) Total new shares issued to Refinitiv shareholders will result in approximately 37% economic interest and less than 30% voting interest in LSEG Represents 2018 EV / Adjusted EBITDA multiple of 11.9x (²) Combined business will be chaired by LSEG's Chairman Don Robert and led by LSEG's CEO David Schwimmer with David Warren as CFO Refinitiv's CEO David Craig will join LSEG's Executive Committee and continue as CEO of Refinitiv 3 new members to be added to the Board: 2 from Blackstone and 1 from Thomson Reuters LSEG will remain in compliance with the UK Corporate Governance Code following completion Note: (1) Based on Refinitiv's net debt of $12.5bn and other adjustments as of June 2019 (2) Adjusted EBITDA multiple also includes run rate cost saves delivered as of Q2 2019 adjusted for cost saves achieved during 2018 LSEG's global business continues to be headquartered in London LSEG will retain its Premium Listing on the Official List of the FCA and trade on London Stock Exchange plc's Main Market for listed securities Page 5

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