TELUS (T) 26th Annual Technology, Media, and Telecommunications Conference summary

Strategic direction and growth initiatives

• Maintains a consistent strategy focused on building top-tier networks, customer service, and relevant products, adapting execution as market conditions evolve.

• Early investment in fiber and wireless has enabled monetization opportunities, such as tower and real estate agreements.

• Expands product relevance by evolving offerings in security, home automation, energy, and aging at home, leveraging synergies in health and tech.

• Focuses on operational efficiency through digitization and AI to enhance customer service and reduce costs.

• Pursues growth in Eastern Canada using analytics to target underserved markets, emphasizing bundled services and profitability.

Financial outlook and capital allocation

• Wireless market remains competitive but is stabilizing, with a cautious approach to promotions to protect profitability.

• Fixed data line revenue growth outpaces competitors, driven by bundled services and traction in business and consumer segments.

• Capital intensity expected to decline as Western fiber build concludes, reallocating investment to Eastern Canada while keeping overall capital flat.

• Utilizes third-party partnerships for fiber deployment in the East, targeting areas lacking fiber and avoiding overbuild.

• Sets internal targets for Eastern margins to approach Western levels through efficient bundling and cost management.

Digitization, AI, and operational efficiency

• AI-driven churn management reduced churn by 5 basis points in three months, with further opportunities identified.

• Digital tools streamline customer service, reducing call center volume and improving agent effectiveness.

• Ongoing digital transformation is less than halfway complete, with significant potential remaining.