TELUS (T) AGM 2025 summary

Opening remarks and agenda

• The meeting celebrated the 25th anniversary of the brand, acknowledged Indigenous territories, and emphasized purpose-driven leadership and innovation.

• The AGM was held virtually, enabling broad shareholder participation and voting.

• The agenda included tabling financial statements and voting on four motions, with preliminary voting results announced at the meeting.

• Highlighted the 20th annual global volunteer initiative, aiming for 1.5 million hours of service for the third consecutive year.

Financial performance review

• Q1 2025 consolidated operating revenues reached $5.0 billion, up 3% year-over-year; adjusted EBITDA was $1.8 billion, down 1% year-over-year.

• Achieved industry-leading customer additions of 218,000 in Q1 2025 and maintained mobile phone postpaid churn below 1% for the 12th consecutive year.

• Technology solutions segment saw $3.8 billion in revenue (+2% y/y) and $1.6 billion in adjusted EBITDA (+3% y/y).

• TELUS Health external revenues grew 12% to $471 million, with adjusted EBITDA up 30%.

• Maintained strong operational and financial results despite macroeconomic pressures in 2024.

Dividend announcements

• Quarterly dividend of $0.4163 declared, payable July 2, 2025, up 7% year-over-year.

• Announced extension of the multi-year dividend growth program, targeting semiannual increases of 3%-8% annually from 2026 through 2028.

• DRIP discount to be reduced by 0.5% in 2026 and 2027, then removed at end of 2027.