Mr. Robert Mitchell reports

TELUS ANNOUNCES PRICING OF CASH TENDER OFFERS FOR SEVEN SERIES OF DEBT SECURITIES

Telus Corp. has priced the terms of its previously announced separate offers to purchase for cash up to the maximum purchase amount (as defined in the offer to purchase dated Dec. 4, 2025, as previously amended) of its outstanding notes of the series listed in the attached table.

The offers

The offers were made upon the terms and subject to the conditions set forth in the offer to purchase relating to the notes. Capitalized terms used but not defined in this news release have the meanings given to them in the offer to purchase.

The attached table sets out the aggregate principal amount of notes accepted for purchase, the reference yield and the total consideration in respect of the notes validly tendered and accepted for purchase pursuant to the offers for such notes.

The financing condition as described in the offer to purchase has been satisfied as a result of the closing of the company's previously announced concurrent offerings of Canadian and United States junior subordinated notes in aggregate principal amounts of $800-million (Canadian) and $1.5-billion (U.S.), respectively.

Settlement

Payment of the total consideration for the notes accepted for purchase will be made by the company on the settlement date, which is expected to occur on Dec. 16, 2025. In addition to the total consideration, holders whose notes are accepted for purchase will receive a cash payment equal to the accrued coupon payment, representing accrued and unpaid interest on such notes from and including the immediately preceding interest payment date for such notes to, but excluding, the settlement date. Holders whose notes are accepted for purchase will lose all rights as a holder of the tendered notes and interest will cease to accrue on the settlement date for all notes accepted in the offer.

Following consummation of an offer, any notes that are purchased in such offer will be retired and cancelled and no longer remain outstanding. All notes not accepted for purchase by the company will be returned without cost to the tendering holders.

The company has retained CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc. to act as lead dealer managers and Desjardins Securities Inc., National Bank Financial Inc., Wells Fargo Securities Canada Ltd., BNP Paribas (Canada) Securities Inc., SMBC Nikko Securities Canada Ltd. and ATB Securities Inc. to act as co-dealer managers for the offers. Questions regarding the terms and conditions for the offers or for copies of the offer to purchase should be directed to CIBC at 1-416-594-8515 (collect), BMO at 1-833-418-0762 (toll-free) or 1-416-359-6359 (collect), RBC at 1-877-381-2099 (toll-free) or 1-416-842-6311 (collect), Scotia at 1-416-863-7438 (collect), or TD at 1-866-584-2096 (toll-free) or 1-416-982-6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the offers.

Computershare Investor Services Inc. is acting as tender agent for the offers.

If the company terminates any offer with respect to one or more series of notes, it will give prompt notice to the tender agent, and all notes tendered pursuant to such terminated offer will be returned promptly to the tendering holders thereof. With effect from such termination, any notes blocked in CDS will be released.

About Telus Corp.

Telus is a world-leading communications technology company operating in more than 45 countries and generating over $20-billion in annual revenue with more than 20 million customer connections through the company's advanced suite of broadband services for consumers, businesses and the public sector. Telus is committed to leveraging its technology to enable remarkable human outcomes. Telus is passionate about putting its customers and communities first, leading the way globally in client service excellence and social capitalism. Telus Health is enhancing more than 160 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Telus Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and consumers. Telus Digital specializes in digital customer experiences and future-focused digital transformations that deliver value for their global clients. Guided by Telus's enduring "give where we live" philosophy, Telus, its team members and retirees have contributed $1.8-billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning it the distinction of the world's most giving company.