Slide 1: Q3 2025 Investor Conference Call
Q3 2025 Investor Conference Call November 7, 2025
Slide 2: Caution regarding forward-looking statements
Caution regarding forward-looking statements Today’s discussion may contain forward-looking statements, including statements relating to our objectives and our strategies to achieve those objectives, our 2025 targets, our expectations regarding trends in the telecommunications industry (including de
Slide 3: Delivering on our consistent execution track record
Delivering on our consistent execution track record ● Strong Customer Growth: Industry-leading total customer additions of 288,000 ● Leading Customer Loyalty: Industry-best postpaid mobile phone churn of 0.91% ● Privatizing TELUS Digital: Integration to generate approximately $150 million in annuali
Slide 4: Mobility operating results
Mobility operating results Q3 2025 Mobile phone ARPU $57.21 (-2.8% y/y) Mobile phone churn 1.11% Mobile phone net adds +82,000 Connected device net adds +169,000 Demonstrated disciplined execution with a continued commitment to profitable customer growth and customer service excellence 4
Slide 5: Fixed operating results
Fixed operating results Q3 2025 Internet net adds +40,000 TV net adds +5,000 Security and automation net adds +6,000 Residential voice net losses (14,000) Total fixed net adds +37,000 Superior product portfolio and world-leading PureFibre network technology driving strong customer growth 5
Slide 6: TELUS completes privatization of TELUS Digital
TELUS completes privatization of TELUS Digital ● In October, TELUS completed the acquisition of the remaining non-controlling interest in TELUS Digital, marking a significant milestone in our strategic evolution ● Integration to generate approximately $150 million in annualized cash synergies, by th
Slide 7: AI-enabling capabilities
1 AI-enabling capabilities 3-year revenue estimate ~$2 billion CAGR: >30% ~$800 million 2025E 2028E 1 See appendix for more details. Across TELUS, our AI-enabling revenue is approaching $800 million for 2025, and expected to increase to approximately $2 billion by 2028, at a CAGR of more than 30%, d
Slide 8: Connecting people through our globally unmatched networks
Connecting people through our globally unmatched networks ● Connecting over 3.6 million premises to leading fibre technology and 5G connecting 89% of Canadians ● Bridging digital and socio-economic divides by delivering world-leading connectivity to rural and Indigenous communities ● Reclaiming copp
Slide 9: Leading the world in social capitalism
Leading the world in social capitalism ● Celebrating a landmark environmental milestone, our passionate and dedicated team has planted 25 million trees over the past 25 years that, when fully matured, will absorb 7.5 million metric tonnes of CO2 – equivalent to removing 1.8 million cars from our roa
Slide 10: Financial Results
Financial Results
Slide 11: TELUS technology solutions
TELUS technology solutions Q3 2025 Mobile network revenue $1.8 billion (1%) y/y Fixed data services revenue1 $1.2 billion +1% y/y Adjusted EBITDA2 $1.7 billion +2% y/y Adjusted EBITDA margin 43.4% +2.1pts 1 Excludes agriculture and consumer goods services. 2 Excludes TELUS health reportable segment.
Slide 12: TELUS health
TELUS health Q3 2025 Operating revenues (arising from contracts with customers) $517 million +18% y/y Adjusted EBITDA $91 million +24% y/y Lives covered1 160.6 million +85 million y/y 1 During the second quarter of 2025, we added 79.3 million healthcare lives covered as a result of the Workplace Opt
Slide 13: TELUS digital experience
TELUS digital experience Q3 2025 Operating revenues (arising from contracts with customers) $708 million +5% y/y Adjusted EBITDA $105 million (18%) y/y Adjusted EBITDA margin1 11.1% (3.4) pts y/y 1 This is a non-GAAP ratio that does not have any standardized meaning prescribed by IFRS Accounting Sta
Slide 14: Consolidated
Consolidated Q3 2025 Operating revenues $5.1 billion -% y/y Adjusted EBITDA1 $1.9 billion +1% y/y Free cash flow1 $611 million +8% y/y Capital expenditures (excluding real estate) $616 million (4)% y/y 1 These are specified financial measures. For quantitative reconciliations, see Section 11.1 of th
Slide 15: 2025 financial targets
2025 financial targets TTech operating revenues1 Growth of 2 to 4% (including TELUS health reportable segment) (At the lower end) TTech Adjusted EBITDA2 Growth of 3 to 5% (including TELUS health reportable segment) (Unchanged) Consolidated free cash flow Approximately $2.15 billion (Unchanged) Conso
Slide 16: Strong balance sheet and liquidity position
Strong balance sheet and liquidity position ● Weighted average cost of long-term debt of 4.61% ● Average long-term debt term to maturity of 13.2 years ● Available liquidity1 of over $4.2 billion ● $2.75 billion syndicated credit facility expiring August 2030 ● Advancing deleveraging initiatives incl
Slide 17: Balancing capital allocation priorities
Balancing capital allocation priorities ● Quarterly dividend declared of $0.4184 payable January 2, 2026, up 4% y/y ● Targeting 3 to 8% annual dividend growth from 2026 through 2028 ● Focused on balance sheet deleveraging; targeted net debt to EBITDA leverage ratio of approximately 3x by the end of
Slide 18: Questions?
Questions? Investor relations 1-800-667-4871 telus.com/investors IR@telus.com
Slide 19: Appendix: Key definitions
Appendix Key definitions Slide 7: AI-enabling capabilities includes TELUS Digital, including data and AI strategy and implementations, digital product experiences and growth marketing, and CX contact center technologies and other enterprise platform modernization, alongside data annotation, collecti
Slide 20: Let's make the future friendly, together.
Let’s make the future friendly, together.