TELUS Successfully Completes Redemption of 3.75% Notes to Strengthen Financial Standing

TELUS Strengthens Financial Position with Successful Note Redemption

In a significant financial move, TELUS Corporation, based in Vancouver, has announced the successful completion of its redemption of C$600 million in 3.75% Notes, Series CV, which were originally due on March 10, 2026. This initiative aligns with the company's ongoing commitment to robust balance sheet management and was funded through proceeds from TELUS' recent offering of Fixed-to-Fixed Rate Junior Subordinated Notes, also known as Hybrid Notes, which raised an impressive C$2.9 billion in December 2025.

Doug French, TELUS’ Executive Vice-President and Chief Financial Officer, highlighted the importance of this redemption, stating, "This successful redemption demonstrates our disciplined approach to balance sheet management and our commitment to strengthening our financial foundation." The proactive management of the company’s debt maturity profile is designed to enhance financial flexibility and ensure greater support for TELUS’ long-term capital allocation priorities, ultimately aiming to drive shareholder value.

This redemption plays into TELUS' larger strategy for balance sheet enhancement and debt reduction. Prior to this, the company had already executed the early redemption of seven series of discounted notes, amounting to C$1.0 billion, as part of their debt management strategy, signifying a clear direction in reducing outstanding liabilities.

With the emphasis on strengthening financials, TELUS aims to reach a net debt to adjusted EBITDA ratio of approximately 3.4-times in 2025. The company is targeting a further reduction to around 3.3-times or less by year-end 2026, with an ultimate goal of achieving approximately 3.0-times by the end of 2027. These measures underline the company’s commitment to maintaining a healthy balance sheet and fostering sustainable growth.

This forward-looking trajectory is critical for TELUS as it navigates potential financial landscapes and prepares for future opportunities. The announcement has been welcomed by investors, as it reflects a sound strategy aimed at minimizing risk while facilitating capital investment opportunities.

Caution Regarding Forward-Looking Statements

TELUS acknowledges that forward-looking statements, which provide insight into expected future events and performance, should be read with caution. Such statements may differ from actual outcomes due to various factors, including shifts in economic conditions. For investors and stakeholders, understanding these dynamics is vital in assessing TELUS’s financial future.

About TELUS Corporation

For those unfamiliar, TELUS Corporation operates as a leading communications technology company and serves over 45 countries, generating revenues exceeding $20 billion annually. With a customer base of more than 20 million, TELUS is committed to enhancing lives through its diverse suite of broadband services, impacting consumers, businesses, and public sectors alike.

Through initiatives such as TELUS Health, designed to improve well-being through innovative technologies, and TELUS Agriculture, focused on connecting producers with consumers, the company is positioned as a forward-thinking leader. With a focus on community engagement and educational support, TELUS has invested significantly in various charitable projects, reinforcing its commitment to social responsibility alongside its business objectives.

In conclusion, TELUS’ strategic redemption of outstanding notes illustrates an exceptional effort towards financial prudence and is a proactive measure in fostering long-term growth and stability, setting a positive precedent in the telecommunications space.