TELUS ANNOUNCES CASH TENDER OFFERS FOR TWO SERIES OF DEBT SECURITIES

Core Viewpoint - TELUS Corporation has initiated cash offers to purchase up to US$750,000,000 of its outstanding notes, with specific conditions and acceptance priority levels outlined for the series of notes being offered [1][10]. Group 1: Offer Details - The offers are subject to the terms and conditions set forth in the Offer to Purchase dated June 20, 2025, and include a notice of guaranteed delivery [2]. - The total consideration for each series of notes will be based on a fixed spread plus the yield of the applicable U.S. Treasury reference security, determined on the Price Determination Date [4][8]. - The offers will expire at 5:00 p.m. (Eastern time) on June 27, 2025, unless extended or terminated earlier [5]. Group 2: Notes Information - The company is offering to purchase two series of notes: 4.600% Notes due November 16, 2048, with an outstanding amount of US$750 million, and 4.300% Notes due June 15, 2049, with an outstanding amount of US$500 million [3]. - The acceptance priority levels for the notes are set, with the 4.600% Notes having the highest priority [3][10]. Group 3: Conditions and Procedures - The offers are conditioned on the satisfaction of the Maximum Purchase Condition and the Financing Condition, which requires the company to raise sufficient net proceeds to fund the purchases [10]. - Holders of notes can withdraw their tenders at any time before the expiration date, and those who deliver a Notice of Guaranteed Delivery will have an extended deadline for tendering [6][9]. - Settlement for validly tendered notes is expected to occur four business days after the expiration date, or two business days after the Guaranteed Delivery Date [7]. Group 4: Company Overview - TELUS Corporation operates as a leading communications technology company, generating over C$20 billion in annual revenue and serving more than 20 million customer connections globally [23]. - The company is committed to leveraging technology for positive human outcomes and has a strong focus on client service excellence and social responsibility [23][24].