Slide 1: Q2 2025 Investor Conference Call
Q2 2025 Investor Conference Call August 1, 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: 198,000 total customer additions with industry-leading postpaid mobile phone churn of 0.90% ● Strategic Infrastructure Expansion: $2 billion investment to expand PureFibre in Ontario and Quebec, driving national scale and
Slide 4: Mobility operating results
Mobility operating results Q2 2025 Mobile phone ARPU $56.58 (-3.3% y/y) Mobile phone churn 1.06% Mobile phone net adds +55,000 Connected device net adds +112,000 Demonstrated disciplined execution with a continued commitment to customer service excellence and profitable customer growth 4
Slide 5: Fixed Operating Results
Fixed Operating Results Q2 2025 Internet net adds +27,000 TV net adds +12,000 Security and automation net adds +9,000 Residential voice net losses (17,000) Total fixed net adds +31,000 Superior product portfolio and world-leading PureFibre network technology driving strong customer growth 5
Slide 6: Connecting people through our globally unmatched networks
Connecting people through our globally unmatched networks ● Connecting over 3.5 million premises to leading fibre technology and 5G connecting over 88% of Canadians ● Bridging digital and socio-economic divides by delivering world-leading connectivity to rural and Indigenous communities ● Reclaiming
Slide 7: Leading the world in social capitalism
Leading the world in social capitalism ● Hosting the second annual TELUS Friendly Future Foundation Gala, raising over $2.6 million in support of the TELUS Student Bursary program. ● Celebrating the 20th anniversary of TELUS Days of Giving inspiring 90,000 global team members, retirees, family and f
Slide 8: Financial Results
Financial Results
Slide 9: TELUS technology solutions
TELUS technology solutions Q2 2025 Mobile network revenue $1.7 billion (1%) y/y Fixed data services revenue1 $1.2 billion +3% y/y Operating revenues $3.8 billion –% y/y Adjusted EBITDA2 $1.6 billion +3% y/y 1 Excludes agriculture and consumer goods services. 2 Excludes TELUS health reportable segmen
Slide 10: TELUS health
TELUS health Q2 2025 External revenues $517 million +16% y/y Adjusted EBITDA $91 million +29% y/y Lives covered1 157.1 million +82 million y/y 1 During the second quarter of 2025, we added 79.3 million healthcare lives covered as a result of the Workplace Options acquisition and a prospective change
Slide 11: TELUS digital experience
TELUS digital experience Q2 2025 External revenues $722 million +2% y/y Adjusted EBITDA $132 million (26%) y/y Adjusted EBITDA margin1 13.7% (5.3) pts y/y 1 This is a non-GAAP ratio that does not have any standardized meaning prescribed by IFRS Accounting Standards and is therefore unlikely to be co
Slide 12: Consolidated
Consolidated Q2 2025 Operating revenues $5.0 billion +3% y/y Adjusted EBITDA1 $1.8 billion +1% y/y Free cash flow1 $535 million +11% y/y Capital expenditures (excluding real estate) $657 million (2)% y/y 1 This is a specified financial measure. For quantitative reconciliation, see Section 11.1 of th
Slide 13: Reiterating 2025 financial targets
Reiterating 2025 financial targets TTech Operating revenues1 (including TELUS health reportable segment) Growth of 2 to 4% TTech Adjusted EBITDA2 (including TELUS health reportable segment) Growth of 3 to 5% Consolidated Free cash flow Approximately $2.15 billion Consolidated Capital expenditures3 A
Slide 14: Strong balance sheet and liquidity position
Strong balance sheet and liquidity position ● Weighted average cost of long-term debt of 4.71% ● Average long-term debt term to maturity of 13.6 years ● Available liquidity1 of over $6.1 billion ● $2.75 billion syndicated credit facility expiring July 2028 ● In Q2, issued $4.45 billion of hybrid deb
Slide 15: Monetizing wireless tower infrastructure assets
Monetizing wireless tower infrastructure assets ● Announced definitive agreement with La Caisse who will acquire a 49.9% interest in newly formed wireless tower infrastructure operator Terrion for $1.26 billion ● Terrion to be Canada’s largest independent wireless tower operator enabling wholesale a
Slide 16: Balancing capital allocation priorities
Balancing capital allocation priorities ● Quarterly dividend declared of $0.4163 payable October 1, 2025, up 7% y/y ● Targeting 3 to 8% annual dividend growth from 2026 through 2028 ● Focused on balance sheet deleveraging to 3x net debt to EBITDA by 2027 ● Lowering DRIP discount from the current 2%
Slide 17: Questions?
Questions? Investor relations 1-800-667-4871 telus.com/investors IR@telus.com
Slide 18: Appendix: Key definitions
Appendix Key definitions Our presentation and answers include the following non-GAAP and other specified financial measures, which may not be comparable to similar measures presented by other issuers: ● TELUS Digital Adjusted EBITDA margin is a non-GAAP ratio. Adjusted Net income and Available liqui
Slide 19: Let’s make the future friendly, together.
Let’s make the future friendly, together.