Financial Data and Key Metrics Changes - In Q3 2025, TELUS reported a net income of CAD 431 million, with an EPS of CAD 0.32, reflecting a 68% increase primarily due to a gain on the purchase of long-term debt [18] - Adjusted net income decreased by 10% to CAD 370 million, with an EPS of CAD 0.24, down 14% [18] - Free cash flow increased by 8% to CAD 611 million, driven by TELUS International EBITDA growth and lower capital expenditures [19] - Capital expenditure, excluding real estate, declined by CAD 16 million, or 2%, with capital intensity improving to 12% from 13% in the prior year [18][19] Business Line Data and Key Metrics Changes - TELUS Health achieved revenue and adjusted EBITDA growth of 18% and 24%, respectively, with a significant expansion in its global reach [6] - The mobile segment saw healthy phone net additions of 82,000 and connected device net additions of 169,000, supported by a focus on profitable customer growth [4] - Wireline services delivered an industry-best 40,000 internet net additions, continuing a 15-year track record of positive wireline net additions [5] Market Data and Key Metrics Changes - TELUS reported a total of 288,000 customer additions, reflecting a 5% growth in customer connections year-over-year [3][4] - The company maintained an industry-best post-paid mobile phone churn rate of 0.91%, marking the twelfth consecutive year below 1% [4] Company Strategy and Development Direction - TELUS is focused on operational excellence and the strategic rollout of TELUS Pure Fiber connectivity, enhancing customer experiences through AI-powered solutions [3] - The acquisition of TELUS Digital is expected to generate annualized cash synergies of CAD 150 million to CAD 200 million, enhancing digital and AI capabilities [8] - The company aims to achieve a leverage ratio of approximately three times by the end of 2027 while eliminating its discount dividend reinvestment plan [12][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained success driven by ongoing EBITDA expansion and disciplined capital deployment [11] - The company anticipates continued growth in TELUS Health, supported by strong sales bookings and improved customer experiences [56] - TELUS expects AI-enabling capabilities to drive significant revenue growth, projecting an increase from CAD 800 million in 2025 to approximately CAD 2 billion by 2028 [9][42] Other Important Information - TELUS increased its quarterly dividend by 4% to CAD 0.4184, reflecting a commitment to sustainable shareholder returns [11] - The company completed the acquisition of TELUS Digital, marking a significant milestone in its strategic evolution [8] Q&A Session Summary Question: Overview of ARPU growth and churn outlook - Management indicated that ARPU growth will depend on continued efforts in pricing and customer acquisition, with churn slightly increasing but still low [23][25] Question: Capital needs for Tereon - TELUS is looking to acquire towers and build new co-location towers, with cash flows from Tereon being net of capital expenditures [23][24] Question: Financial implications of partner build model - The partner build model is expected to have a margin profile similar to a wholesale model, with a focus on achieving better economic returns [29][30] Question: Revenue growth from sovereign AI - Revenue from sovereign AI is expected to manifest within TELUS Business Solutions and TELUS Digital, with additional guidance to be provided in February [46][47] Question: Health business outlook - Management sees strong organic growth in the health business, driven by improved sales bookings and customer experiences [55]

Financial Performance - TELUS reported Q3 2025 operating revenues of $5.1 billion[41] - Adjusted EBITDA reached $1.9 billion, a 1% year-over-year increase[41] - Free cash flow increased by 8% year-over-year to $611 million[41] - Capital expenditures (excluding real estate) decreased by 4% year-over-year to $616 million[41] - The company is targeting a net debt to EBITDA ratio of approximately 3.0x by 2027[10] Customer Growth and Loyalty - Total customer additions were strong at 288,000[10] - Industry-best postpaid mobile phone churn of 0.91%[10] - Internet net additions were +40,000[15] TELUS Health and Digital - TELUS Health revenue grew by 18% year-over-year to $517 million[35] - TELUS Health Adjusted EBITDA increased by 24% year-over-year to $91 million[35] - TELUS Health covers more than 160 million lives globally[10] - TELUS Digital revenue grew by 5% year-over-year to $708 million[37] - TELUS Digital Adjusted EBITDA was $105 million[37] Strategic Initiatives - TELUS completed the privatization of TELUS Digital, expecting $150 million in annualized cash synergies by the end of 2026[18] - AI-enabling revenue is approaching $800 million for 2025 and is expected to reach approximately $2 billion by 2028, with a CAGR of over 30%[21]

Core Insights - Telus reported $3.71 billion in revenue for Q3 2025, a year-over-year decline of 0.8% and an EPS of $0.17, down from $0.21 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $3.72 billion by 0.27%, and the EPS was 10.53% below the consensus estimate of $0.19 [1] Financial Performance - The stock has returned -3.7% over the past month, compared to the Zacks S&P 500 composite's -0.2% change, and currently holds a Zacks Rank 3 (Hold) [3] - Key subscriber metrics include: - Mobile Phone Subscribers: 10.27 million, matching the average estimate - Connected Device Subscribers: 4.16 million, exceeding the average estimate of 4.12 million - Internet Subscribers: 2.78 million, slightly above the average estimate of 2.77 million - TV Subscribers: 1.43 million, slightly below the average estimate of 1.44 million - Security Subscribers: 1.15 million, matching the average estimate - Residential Voice Subscribers: 986 thousand, below the average estimate of 991 thousand [4] Churn and Net Additions - Mobile phone churn rate was 1.1%, in line with the average estimate [4] - Net additions for various services were as follows: - Connected Device: 169 thousand, exceeding the estimate of 134.82 thousand - Internet: 40 thousand, above the estimate of 24.97 thousand - TV: 5 thousand, below the estimate of 15.71 thousand - Security: 6 thousand, below the estimate of 10.32 thousand - Residential Voice: -14 thousand, worse than the estimate of -9 thousand [4]

Core Insights - Telus reported quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.19 per share, and down from $0.21 per share a year ago, representing an earnings surprise of -10.53% [1] - The company posted revenues of $3.71 billion for the quarter ended September 2025, which was 0.27% below the Zacks Consensus Estimate and a decrease from $3.74 billion year-over-year [2] - Telus has surpassed consensus EPS estimates two times over the last four quarters and has topped consensus revenue estimates only once during the same period [2] Earnings Outlook - The sustainability of Telus's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.19 on revenues of $3.9 billion, and for the current fiscal year, it is $0.72 on revenues of $14.97 billion [7] Industry Context - The Zacks Industry Rank for Diversified Communication Services, which includes Telus, is currently in the bottom 21% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Telus's stock performance [5][6]

Exhibit 99.1 TELUS CORPORATION CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2025 condensed interim consolidated statements of income and other comprehensive income (unaudited) | | | | | Three months | | | | Nine months | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Periods ended September 30 (millions except per share | | | | | | | | | | | amounts) | Note | | 2025 | | 2024 | | 2025 | | 2024 | | OPERATING REVENUES | | | | | | | | | | | Service | | $ | 4,5 ...

Core Insights - TELUS Corporation reported strong customer growth with a total of 288,000 net additions in the third quarter of 2025, driven by demand for core connectivity services and the expansion of TELUS PureFibre connectivity [1][2][7] - The company achieved a 3% growth in TTech Adjusted EBITDA, reflecting a focus on profitable customer growth and cost efficiency [1][4] - TELUS Health demonstrated significant growth with an 18% increase in operating revenue and a 24% increase in Adjusted EBITDA, indicating successful execution of its global growth strategy [1][2][24] - Net income rose by 68% to $431 million, with basic earnings per share increasing to $0.32 [5][14] - Free cash flow grew by 8% to $611 million, supporting a quarterly dividend increase of 4% to $0.4184 per share [1][10][30] Financial Performance - Consolidated operating revenues were flat at $5.1 billion compared to the previous year, with a 2% increase in service revenue offset by lower mobile equipment revenue [1][14] - Adjusted EBITDA increased by 1% to approximately $1.9 billion, with varied results across segments [6][15] - Cash provided by operating activities increased by 4% to $1.5 billion, driven by working capital changes [10][14] Customer Growth and Segmentation - The total TTech subscriber base grew by 5% to 20.8 million, with mobile phone subscribers increasing by 2% and connected devices by 18% [8][15] - TELUS Health expanded its coverage to 160.6 million lives, a significant increase attributed to recent acquisitions and changes in service definitions [9][24] - Mobile phone net additions were 82,000, reflecting a decrease due to competitive pressures and changing customer preferences [7][19] Capital Expenditures and Investments - Consolidated capital expenditures decreased by 2% to $652 million, with a planned slowdown in network builds [11][14] - TELUS Digital's acquisition and integration are expected to generate approximately $150 million in annual cash synergies [3][11] Strategic Initiatives - TELUS closed a transaction with La Caisse to establish Terrion as Canada's largest dedicated wireless tower operator, enhancing connectivity and shareholder value [3][4] - The company celebrated planting 25 million trees, contributing to sustainability efforts and environmental leadership [3][34] Future Outlook - TELUS expects TTech operating revenue growth to be at the lower end of the original target range for 2025, while targets for Adjusted EBITDA and free cash flow remain unchanged [1][26][29] - The company is focused on maintaining a strong financial foundation and delivering sustainable growth through disciplined capital deployment [3][4][26]

Core Insights - Railtown AI collaborates with TELUS to develop advanced agentic software solutions on TELUS' Sovereign AI Infrastructure, ensuring Canadian innovation remains within Canada [1][2][3] - The partnership aims to provide Canadian software companies with secure, domestic AI compute capacity, promoting the growth of Canada's AI ecosystem [2][5] - Railtown AI's technologies are designed for businesses to build, deploy, and manage AI-driven solutions, focusing on autonomous AI agents and integration into existing products [3][4] Company Overview - Railtown AI Technologies Inc. specializes in advanced AI Agentic Frameworks and Observability tools, enabling efficient AI solution development [7] - TELUS Corporation operates a Sovereign AI Factory, addressing the need for Canadian companies to access cutting-edge AI capabilities while maintaining data sovereignty [5][6] Strategic Importance - The collaboration supports Canadian software companies by providing world-class tools for code optimization and system monitoring, while ensuring control over intellectual property [4] - The initiative reflects a broader trend of Canadian companies seeking alternatives to foreign cloud platforms for AI development, enhancing technological independence [5]

Core Insights - TELUS Corporation has successfully completed the acquisition of TELUS Digital, enhancing its position as a global leader in AI-powered digital customer experience and SaaS transformation across various industries [1] - The integration is expected to drive growth in TELUS' telecommunications, health, agriculture, and consumer goods sectors, while also expanding growth opportunities for TELUS Digital within its external client base [1] - Operational efficiencies from this acquisition are projected to generate approximately $150 million annually [1] Financial Details - The acquisition involved purchasing all outstanding multiple voting shares and subordinate voting shares of TELUS Digital not already owned by TELUS, at a price of US$4.50 per share [1] - The total consideration for the acquisition amounts to approximately US$539 million [1] - Following the acquisition, TELUS now owns 100% of TELUS Digital [1]

Core Points - TELUS International (Cda) Inc. announced the results from its special meeting of shareholders held on October 27, 2025, to consider a specific plan [1] Company Summary - The meeting involved holders of Multiple Voting Shares (MVS) and Subordinate Voting Shares (SVS), collectively referred to as Shares [1]

Core Insights - The TELUS Digital survey indicates that AI assistants are becoming competitive with traditional apps as consumers increasingly prefer faster and smarter digital experiences [1] Group 1 - The survey highlights a significant shift in consumer behavior towards AI-driven solutions, suggesting a growing demand for enhanced digital interactions [1] - AI assistants are being recognized for their ability to streamline tasks and provide immediate responses, which aligns with consumer expectations for efficiency [1] - The findings suggest that companies may need to adapt their digital strategies to incorporate AI technologies to meet evolving consumer preferences [1]