Mr. Darren Entwistle reports

Telus SECURES CRITICALLY IMPORTANT 3800 MHZ SPECTRUM LICENCES, UNLEASHING THE FULL POTENTIAL OF 5G

Telus Corp. has acquired new 3,800-megahertz spectrum licences nationwide at a cost of $620-million during the recent ISED 3,800-megahertz auction. Telus will hold licences to an average of 72 MHz of 3800 MHz spectrum nationally, acquired at an average price of 24 cents per MHz-pop. Combined with the 3,500-megahertz spectrum obtained in 2021, Telus has secured approximately 100 MHz of prime 5G mid-band spectrum nationally, with contiguity in 96 per cent of the country, including all major markets, at an average price of 82 cents per MHz-pop. Telus is well positioned to fully maximize the efficient use of 5G and the effective development and deployment of 5G products and services conceived of since the launch of this wireless technology. With mid-band spectrum becoming the critical global band for 5G innovation due to the ideal combination of speed, capacity, low latency and coverage, this contiguous spectrum provides wider channels and enables a superior network experience for customers.

"The vital, contiguous spectrum that Telus secured will enable us to bring transformational, next-generation, 5G services to even more Canadians, providing the globally leading network speed, coverage and reliability that our fellow citizens need to thrive in our digital world," said Darren Entwistle, Telus president and chief executive officer. "Critically, this spectrum will ensure Canadians continue to benefit from the best network experience in the world, which is facilitating critical, generational change in respect of health, education, teleworking, the environment and the economy. Perhaps most importantly, this spectrum will also help us to bridge digital divides so that every member of our society has the opportunity to realize their full potential. The results of the 3,800-megahertz auction represent a positive outcome for Canadians, and, going forward, we encourage the government to continue this balanced approach to spectrum auctions to ensure affordable, fair and expeditious access to this valuable national asset."

Innovation, Science and Economic Development Canada (ISED) shifted from the previous auction framework, utilizing set-aside spectrum in favour of a spectrum cap. Spectrum caps are the auction mechanism used almost exclusively by the rest of the world. This shift in the framework more closely aligns spectrum costs with the competitive prices in the market. Declining spectrum prices are essential in supporting the 18.6-per-cent year-over-year decline in wireless prices, significant during this heightened inflationary period. In addition, this auction design enabled the provision of enough spectrum to the four national operators at a cost comparable with other jurisdictions. Canada's average price per MHz-pop was in line with the average rate paid in Australia of 26 cents per MHz-pop (Canadian-dollar equivalent).

About Telus Corp.

Telus (Toronto Stock Exchange: T and New York Stock Exchange: TU) is a dynamic, world-leading communications technology company with more than $18-billion in annual revenue and over 18 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Its social purpose is to leverage its global-leading technology and compassion to drive social change and enable remarkable human outcomes. Its long-standing commitment to putting its customers first fuels every aspect of its business, making it a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades Telus has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of Telus's global-leading networks, reinforcing its commitment to provide Canadians with access to superior technology that connects customers to the people, resources and information that make lives better.

Operating in 32 countries around the world, Telus International (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds and delivers next-generation solutions, including artificial intelligence and content moderation, for global and disruptive brands across strategic industry verticals, including technology and games, communications and media, e-commerce and fintech, banking, financial services and insurance, health care, and others.

Telus Health is a global health care leader, which provides employee and family primary and preventive health care and wellness solutions. Its Telus team, along with its 100,000 health professionals, are leveraging the combination of Telus's strong digital and data analytic capabilities with its unsurpassed client service to dramatically improve remedial, preventive and mental health outcomes covering 69 million lives, and growing, around the world.

As the largest provider of digital solutions and digital insights of its kind, Telus Agriculture & Consumer Goods enables efficient and sustainable production from seed to store, helping improve the safety and quality of food and other goods in a way that is traceable to end consumers.

Driven by its determination and vision to connect all citizens for good, its deeply meaningful and enduring philosophy to give where it lives has inspired Telus and its team to contribute $1.6-billion, including 2.2 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made Telus the most giving company in the world. Together, "let's make the future friendly."

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