Mr. Darren Entwistle reports

TELUS INVESTING $24 BILLION IN ONTARIO THROUGH 2030 TO ENHANCE CONNECTIVITY, SUPPORT CANADIAN AI LEADERSHIP AND DRIVE ECONOMIC GROWTH

Telus is investing more than $24-billion over the next five years to expand and enhance its network infrastructure and operations across Ontario. This commitment is part of Telus's larger commitment to deploy $66-billion across Canada by 2030 to expand and enhance its network infrastructure and operations across Canada, fueling homegrown innovation and support the prosperity of urban and rural communities. Since 2000, Telus has invested $78-billion in Ontario in technology and operations to advance connectivity, boost productivity, and support a robust national economy.

"The $66-billion announced today builds upon the $294-billion that Telus has put to work across Canada since 2000, to ensure our fellow citizens have the vital connectivity needed to thrive in today's digital world," said Darren Entwistle, president and chief executive officer of Telus. "The critical infrastructure our talented team of innovators and engineers is creating represents the 21st century equivalent to building transportation corridors that connect our country. Telus's investments over the past 26 years represent the financial equivalent of constructing 84 Canadian Pacific Railways or 58 St. Lawrence Seaways or 27 Trans-Canada Highway systems. Importantly, the connectivity we are delivering helps improve the lives of Canadians by enabling teleworking, on-line health care and education flexibility, while also accelerating Canada's digital economy for heightened productivity, innovation and competitiveness. Moreover, our 5G and PureFibre networks are supporting transformational change in respect of remediating our environment, advancing agriculture efficiency and food chain security, and bridging socioeconomic and geographic divides. Indeed, Telus's world-leading 5G network now reaches more than 90 per cent of Canada's population, while our global-best Telus PureFibre network brings the fastest and most reliable internet technology on the planet to 3.7 million households and businesses -- and counting, covering 99 per cent of Telus's legacy copper footprint. Over the past 26 years, Telus has laid 162,000 kilometres of fibre, which is enough to circle the Earth four times. The environmental and societal benefits of replacing copper with Telus PureFibre are considerable. Notably, by recycling decommissioned copper, Telus has eliminated 9,300 tonnes of emissions -- equal to removing nearly 2,000 cars from roads for a year. Moreover, as we decommission copper from our central offices, we are redeveloping these now vacant buildings to be used as affordable, sustainable housing. By continuing to invest in our world-leading networks, we are demonstrating Telus's commitment to Always Building Canada, supporting our fellow Canadians for generations to come."

"With more and more companies choosing Ontario as the ideal jurisdiction for large-scale, long-term investment, the demand for reliable, high-speed digital infrastructure has never been greater," said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. "As we continue to position the province at the forefront of tech and AI innovation, Telus's $24-billion commitment will ensure our economy remains equipped to support new investments, stimulate job creation and accelerate the next wave of industry leadership."

Now through 2030 in Ontario, Telus is:

Advancing Canada's tech and AI (artificial intelligence) sovereignty

• Expanding on the company's $2-billion investment to bring the speed and connectivity of Telus PureFibre to regions of Ontario and Quebec that have not seen the benefit and scale of this investment to date, stimulating job growth, accelerating innovation and enhancing productivity.
• Advancing the company's wireless networks with more than 10 new towers, in partnership with Terrion, and upgrades at more than 60 sites across Ontario this year, significantly increasing wireless coverage and capacity to meet the evolving needs of the company's customers and communities, now and in the future.
• Strengthening Canada's AI infrastructure to meet surging demand for advanced compute power through the Telus sovereign AI factory -- officially ranked as the fastest and most powerful supercomputer in Canada by TOP500. The company's Rimouski facility sold out following its September, 2025, launch. Telus's second AI factory in Kamloops, B.C., will be operational shortly, empowering Canadian businesses, researchers, public sector and indigenous organizations with access to cutting-edge Canadian-controlled compute -- ensuring every piece of data, computation and breakthrough remains within the company's borders.
• Telus Digital is advancing Canada's sovereign AI capabilities through Fuel iX, a platform enabling Canadian companies to deploy secure, domestically controlled AI assistants. Building on industry-leading safety practices, Fuel iX Fortify addresses Canada's stringent AI security and safety requirements through automated purple teaming and rigorous testing protocols, helping organizations confidently integrate AI while maintaining control over their data and systems.

Pioneering environmental sustainability and agricultural leadership

• Advancing Telus's journey to net zero as part of the company's world-leading copper retirement program, the company continues to support the circular economy by reclaiming and repurposing legacy copper networks, helping meet Canada's need for this important resource. To date, Telus has mined more than 4,600 tonnes of copper from its network and enabled a reduction of 9,300 tonnes of GHG (greenhouse gas) emissions -- equal to removing nearly 2,000 cars from roads for a year.
• Strengthening Canada's food sovereignty and global leadership in sustainable production through Telus Agriculture & Consumer Goods. By expanding its Decisive Farming agronomy services in underserved rural areas and supporting Canada's cattle producers, the company is helping farmers produce more with less. These efforts ensure a safe, affordable and efficient food supply for Canadians while delivering a critical reduction of up to 500,000 tonnes in GHG emissions by 2030.

Fostering healthy, connected communities

• Further bridging digital divides through Telus Internet, Mobility and Tech for Good, as well as continuing to empower Canadians to stay safe on-line through Telus Wise. Since inception, these initiatives, including partnerships with Native Women's Resource Centre and Native Child and Family Services of Toronto, have helped bridge digital divides for 265,000 people across Ontario while ensuring they remain safe in Telus's digital world.
• Empowering Ontario's youth and removing barriers to help them reach their full potential. Since 2005, the Telus Friendly Future Foundation and the company's Telus Community Boards serving the Greater Toronto and Hamilton Area, Ottawa, and Eastern Ontario, and Barrie and central Ontario have directed over $40-million in grants to more than 1,800 health and education-focused charitable initiatives that support youth, and 600 student bursaries for postsecondary students. From removing financial barriers for students, to supporting numerous charity partners serving the critical needs of youth, such as The Prosperity Project, Start2Finish Canada, The Toronto Wildlife Centre and Operation Come Home, the company is committed to building a friendlier future for youth across Ontario.
• Delivering vital health care through Telus Health for Good and supporting 140,000 patient visits from underserved Ontarians since 2020, supported by the company's $5.84-million continuing investment in partnership with organizations like Parkdale Queen West CHC, REACH Niagara, CMHA Peel Dufferin, Sanguen Health and Ottawa Inner City Health.
• Helping organizations create healthier, more productive work forces through Telus Health's global leadership in health care access and technology innovations, supporting more than 170 million lives around the world, in collaboration with both Canadian and global-leading organizations.
• Strengthening community connections through authentic storytelling and contributing to a more inclusive creative ecosystem across Canada by investing over $27-million to amplify locally reflective stories and support creators and filmmakers across Canada through grants, production funding, training, and distribution across national platforms through Telus's three content funding programs: Telus STORYHIVE, Telus originals and maCommunaute.
• Fostering community connection through strategic partnerships with the Ontario Science Centre, the Moose Hide Campaign, the Royal Conservatory of Music at the Telus Centre for Performance & Learning, Hamilton TigerCats, Ottawa REDBLACKS, Ottawa 67s and the London Knights.

Additionally since 2000, Telus, the company's team members and retirees have provided $1.85-billion in cash, in-kind contributions, time and programs, including 2.5 million days of volunteerism to communities in Canada and around the world.

These investments are consistent with Telus's capital expenditure guidance for 2026 as disclosed in the company's fourth quarter 2025 results and 2026 targets news release dated Feb. 12, 2026, and in the company's first quarter 2026 results news release dated May 8, 2026.

Telus also embraces tax morality as a means of further investing in its communities. Since 2000, and as of the end of 2025, Telus has paid approximately $65-billion in total tax and spectrum remittances to the company's federal, provincial and municipal governments across Canada, consisting of corporate income taxes, sales taxes, property taxes, employer portion of payroll taxes, various regulatory fees and spectrum remittances, including more than $2.6-billion in taxes in 2025 alone. These funds support public works projects, education, health care, cultural pursuits and other initiatives that improve the social and economic well-being of our communities.

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 21 million customer connections through its advanced suite of broadband services for consumers, businesses and the public sector. The company 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 170 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 continues to invest in initiatives that support education, health and community well-being. In 2023, Telus 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 2,000 students and counting. Since 2000, Telus, the company's team members and retirees have contributed $1.85-billion in cash, in-kind contributions, time and programs, including 2.5 million days of service -- earning Telus the distinction of the world's most giving company.

We seek Safe Harbor.