Mr. Doug French reports

TELUS COMPLETES REDEMPTION OF 3.75% NOTES, SERIES CV DUE MARCH 10, 2026

Telus Corp. has confirmed the successful completion of the full redemption of its outstanding $600-million 3.75 per cent notes, Series CV, due March 10, 2026 (Cusip No. 87971MBC6), as initially announced on Dec. 16, 2025. The redemption was financed through proceeds from Telus's December, 2025, offering of fixed-to-fixed-rate junior subordinated notes (hybrid notes), which raised the equivalent of $2.9-billion with proceeds designated toward debt repayment.

"This successful redemption demonstrates our disciplined approach to balance sheet management and our commitment to strengthening our financial foundation," said Doug French, executive vice-president and chief financial officer. "By pro-actively managing our debt maturity profile through strategic refinancing, we're creating greater financial flexibility to support our capital allocation priorities and drive long-term shareholder value."

This redemption is part of Telus's broader balance sheet management and deleveraging initiatives, which also included the early redemption of seven series of discounted notes totalling $1-billion in cash proceeds, as communicated on Dec. 10, 2025, following the issuance of the hybrid notes.

Today's update underscores Telus's commitment to balance sheet management and supports its deleveraging trajectory, moving ahead of plan, with 2025 net debt to adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) projected at approximately 3.4 times. The company aims to reach around 3.3 times or lower by year-end 2026 and approximately 3.0 times by the end of 2027.

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 its 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 its global clients. Guided by its enduring "give where we live" philosophy, Telus continues to invest in initiatives that support education, health and community well-being. In 2023, the company launched the Telus Student Bursary, which strives to ensure that every young person in Canada who wants a postsecondary education has the opportunity to pursue one. To date, the program has distributed over $6-million in bursaries to more than 1,600 students and counting. Since 2000, Telus and 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 -- earning Telus the distinction of the world's most giving company.

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