Mr. Bill Zhang reports

TELUS ANNOUNCES RESULTS OF ITS CASH TENDER OFFERS FOR TWO SERIES OF DEBT SECURITIES

Telus Corp. has released the results of its previously announced two separate offers to purchase for cash the outstanding notes of the series listed in the table below.

The offers were made upon the terms and subject to the conditions set forth in the offer to purchase dated June 20, 2025, relating to the notes and the notice of guaranteed delivery.

The offers expired at 5 p.m. Eastern Time on June 27, 2025. The guaranteed delivery date is 5 p.m. Eastern Time on July 1, 2025. The settlement date will be July 3, 2025.

According to information provided by Global Bondholder Services Corp., the information and tender agent in connection with the offers, $318,255,000 (U.S.) combined aggregate principal amount of notes were validly tendered prior to or at the expiration date and not validly withdrawn. In addition, $789,000 (U.S.) combined aggregate principal amount of notes were tendered pursuant to the guaranteed delivery procedures and remain subject to the holders' performance of the delivery requirements under such procedures. The table below provides certain information about the offers, including the aggregate principal amount of each series of notes validly tendered and not validly withdrawn at or prior to the expiration date and the aggregate principal amount of notes reflected in notices of guaranteed delivery delivered at or prior to the expiration date pursuant to the tender offer documents.

Over all, $318,255,000 (U.S.) aggregate principal amount of notes have been accepted for purchase, excluding the notes delivered pursuant to the guaranteed delivery procedures. A condition of the offers is that the aggregate principal amount purchased in the offers shall not exceed $750-million (U.S.) and that the maximum purchase amount is sufficient to include the aggregate principal amount of all validly tendered and not validly withdrawn notes of a series (after accounting for all validly tendered notes that have a higher acceptance priority level). The maximum purchase condition has been satisfied with respect to the offers for both series of notes. Accordingly, all notes that have been validly tendered and not validly withdrawn at or prior to the expiration date have been accepted for purchase.

The financing condition described in the tender offer documents has been satisfied as a result of the closing of the company's previously announced offering of junior subordinated notes in an aggregate principal amount of $1.5-billion (U.S.).

Upon the terms and subject to the conditions set forth in the offer to purchase, holders whose notes have been accepted for purchase in the offers will receive the applicable total consideration specified in the table above for each $1,000 (U.S.) principal amount of such notes, which will be payable in cash on the settlement date.

In addition to the applicable total consideration, holders whose notes have been accepted for purchase will be paid the accrued coupon payment. Interest will cease to accrue on the settlement date for all notes accepted in the offers, including those tendered pursuant to the guaranteed delivery procedures. Under no circumstances will any interest be payable because of any delay in the transmission of funds to holders by the Depository Trust Company or its participants.

The company has retained J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC to act as lead dealer managers and BMO Capital Markets Corp., CIBC World Markets Corp., Scotia Capital (USA) Inc., TD Securities (USA) LLC, Desjardins Securities Inc., National Bank of Canada Financial Inc. and SMBC Nikko Securities America Inc. to act as co-dealer managers for the offers. Questions regarding the terms and conditions for the offers should be directed to J.P. Morgan Securities at 1-866-834-4666 (toll-free) or 1-212-834-3046 (collect), RBC Capital Markets at 1-877-381-2099 (toll-free) or 1-212-618-7843 (collect), or Wells Fargo Securities at 1-866-309-6316 (toll-free) or 1-704-410-4235 (collect).

Global Bondholder Services is acting as the information and tender agent for the offers. Questions or requests for assistance related to the offers or for additional copies of the offer to purchase may be directed to Global Bondholder Services in New York by telephone at 1-212-430-3774 (for banks and brokers only) or 1-855-654-2015 (for all others toll-free), or by e-mail at contact@gbsc-usa.com. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the offers.

If the company terminates any offer with respect to one or more series of notes, it will give prompt notice to the information and tender agent, and all notes tendered pursuant to such terminated offer will be returned promptly to the tendering holders thereof. Upon such termination, any notes blocked in DTC will be released.

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 its advanced suite of broadband services for consumers, businesses and the public sector. It 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. Its Telus Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Its Telus Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by its 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 it the distinction of the world's most giving company.

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