Mr. Darren Entwistle reports

TELUS COMPLETES PRIVATIZATION OF TELUS DIGITAL

Telus Corp. and Telus International (Cda) Inc. (Telus Digital) (New York Stock Exchange: TIXT) (Toronto Stock Exchange: TIXT) today completed Telus's previously announced acquisition of all outstanding multiple voting shares and subordinate voting shares of Telus Digital not already owned by Telus, for $4.50 (U.S.) per share in cash and/or Telus common shares, representing aggregate consideration of approximately $539-million (U.S.). Following closing, Telus now owns 100 per cent of Telus Digital.

"This acquisition marks an important milestone for Telus and Telus Digital," said Darren Entwistle, president and chief executive officer of Telus. "Together, we will accelerate the integration of world-leading digital customer experience solutions, AI-driven platforms and SaaS innovation across all lines of our business, including telecommunications, Telus Health and Telus Agriculture & Consumer Goods. As we integrate Telus Digital within our Telus family, our deep commitment to our customers and our talented team will remain our top priority. Together, leveraging our collective technological and human innovation, we will drive superior outcomes for our customers in Canada and globally, while also propelling enhanced growth opportunities for our shareholders. Notably, we expect this integration to generate approximately $150-million in annualized cash synergies through operational efficiencies, including accelerated AI-driven automation, business simplification and strategic cross-promotion of services, further strengthening our financial performance and prioritizing high-impact opportunities to create significant shareholder value."

The transaction was overwhelmingly approved by Telus Digital shareholders at a special meeting held on Oct. 27, 2025, following the unanimous recommendation of Telus Digital's special committee of independent directors and board of directors (with interested directors abstaining). A final order of the Supreme Court of British Columbia in respect of the transaction was granted on Oct. 29, 2025.

"The special committee was committed to securing the best outcome for Telus Digital and its minority shareholders," said Josh Blair, co-chair of Telus Digital's special committee. "This transaction is the culmination of a rigorous independent process, delivering immediate, compelling value to shareholders and positioning the combined organization to thrive in an increasingly competitive global marketplace."

Results of consideration elections

Under the terms of the arrangement, Telus Digital shareholders had the right to elect to receive: (a) $4.50 (U.S.) in cash, (b) 0.273 of a common share of Telus, or (c) $2.25 (U.S.) in cash and 0.136 of a Telus share, for each Telus Digital share, subject to proration such that no more than 25 per cent of the aggregate consideration to be paid to the shareholders would consist of Telus shares.

The results of the elections received from Telus Digital shareholders (excluding Telus and its subsidiaries) prior to the election deadline of Oct. 22, 2025, at 9 a.m. (Vancouver time) are as follows:

• Shareholders representing 106,755,480 outstanding Telus Digital shares elected to receive the cash consideration;
• Shareholders representing 448,976 outstanding Telus Digital shares elected to receive the share consideration;
• Shareholders representing 12,697,517 outstanding Telus Digital shares elected or were deemed to have elected the combination consideration.

The final consideration was not subject to proration.

No fractional Telus shares were issued pursuant to the arrangement and therefore the consideration received by any individual shareholder may be subject to adjustment as set forth in the plan of arrangement and as described in the management information circular of Telus Digital.

Pursuant to the arrangement, Telus issued an aggregate of 1,849,374 Telus shares representing less than 1 per cent of the outstanding Telus shares and paid an aggregate of $508,970,041.54 (U.S.) in cash as consideration.

Delisting of Telus Digital subordinate voting shares

The subordinate voting shares of Telus Digital are expected to be delisted shortly from both the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE). Telus Digital has applied to cease to be a reporting issuer under applicable Canadian securities laws and will deregister the subordinate voting shares under the Securities Exchange Act of 1934.

Early warning information

Immediately prior to closing of the arrangement, Telus beneficially owned and had direction and/or control over an aggregate of 152,004,019 multiple voting shares and 6,874,822 subordinate voting shares, representing 100 per cent of the outstanding multiple voting shares and approximately 5.4 per cent of the outstanding subordinate voting shares. On a combined basis, the multiple voting shares and subordinate voting shares held by Telus represented 92.7 per cent of the outstanding voting rights attached to all Telus Digital shares.

Following closing of the arrangement, Telus now beneficially owns 100 per cent of the issued and outstanding Telus Digital shares. An early warning report will be filed by Telus in accordance with applicable securities laws and will be available on SEDAR+ or may be obtained directly from Telus investor relations upon request at 1-800-667-4871 or at Telus Corp., 23rd floor, 510 West Georgia St., Vancouver, B.C., Canada, V6B 0M3.

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 the company'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 the company the distinction of the world's most giving company.

We seek Safe Harbor.