TELUS expands broadband services in Ontario and Quebec with $2-billion investment

Global-leading broadband fibre and wireless infrastructure will connect more homes and businesses to faster internet speeds, new and exciting services and improved affordability

This investment programme comes on top of the $70 billion TELUS announced earlier this year to enhance broadband connectivity, strengthen competition and consumer choice, support Canadian AI leadership and fuel economic growth through 2029. This builds on the more than $276 billion TELUS has committed since 2000

VANCOUVER, BC, July 21, 2025 /CNW/ - TELUS is excited to announce a $2-billion investment to deliver our global-leading broadband services across Ontario and Quebec over the next five years. This investment comes as a result of the CRTC confirmation of the wholesale fibre-to-the-premise (FTTP) framework and serves as a complement to our wholesale fibre access agreements, allowing TELUS to deliver national scale, accelerate network builds and drive investment, competition and affordability in Canada. This marks a significant milestone in TELUS' ongoing efforts to bring Canada's fastest and most reliable broadband services to more communities – fueling economic growth and ensuring all Canadians have access to next generation digital services.

"Today's announcement regarding our TELUS broadband fibre and wireless expansion reinforces our long-standing commitment to sustained, transformative investments that advance economic and social prosperity for all Canadians. Against a backdrop of macroeconomic uncertainty, TELUS stands as one of the few companies committing to bold, future-focused infrastructure investments that bolster digital inclusion and bridge digital divides by bringing globally leading connectivity to communities of all sizes," said Darren Entwistle, President and CEO of TELUS. "Notably, by expanding our world-leading TELUS broadband network in Ontario and Quebec in a synergistic combination with our wholesale fibre access, millions of citizens and businesses will be empowered with the connectivity needed to fully participate in the digital economy, unlocking benefits for generations to come. The $2 billion we are investing in Ontario and Quebec over the next five years transcends traditional connectivity; it is powering new and advanced digital services including, AI-fuelled smart home energy management, next-generation healthcare, affordable security and exciting entertainment solutions – driving innovation across all sectors of the economy and our societies, propelling our productivity and quality of life as a nation."

New fibre-optic infrastructure will also serve as the backbone of TELUS' world-leading 5G wireless network, ensuring that people and businesses have the tools they need to manage their lives and drive business success in our digital world. Importantly, TELUS PureFibre is 85% more energy-efficient than copper, and more durable against extreme weather and environmental factors, making it a more sustainable and reliable technology.

This $2-billion investment will be part of our annual budget and will be supported by investments from our strategic build partnerships. This investment program comes on top of the $70 billion TELUS announced earlier this year to enhance connectivity, support Canadian AI leadership and fuel economic growth through 2029, and builds on the more than $276 billion TELUS has committed since 2000 to boost productivity and support a robust national economy.

These investments are consistent with TELUS' guidance for 2025, including capital expenditures, as disclosed in the company's fourth quarter 2024 results and 2025 targets news release dated February 12, 2025 and in the company's first quarter 2025 results news release dated May 9, 2025. This investment profile aligns with the company's longer-term capital-intensity aspirations and our deleveraging target for 2027, including the removal of the dividend reinvestment plan discount.

We're always building Canada.

For more information about the TELUS PureFibre network and its benefits, visit telus.com/purefibre.

Forward-Looking Statements

This news release contains statements about future events pertaining to TELUS' operations, including the anticipated investment in fibre, TELUS' efforts to deliver broadband services and TELUS' allocation of resources. By their nature, forward-looking statements require us to make assumptions and predictions and are subject to inherent risks and uncertainties including risks associated with capital and debt markets. There is significant risk that the forward-looking statements will not prove to be accurate. The timing and achievement of the above-mentioned endeavours are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and the qualifications and risk factors as set out in our 2024 annual management's discussion and analysis (MD&A), our MD&A for the three month period ended March 31, 2025 and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States (on the Electronic Data Gathering, Analysis, and Retrieval system, administered by the US Securities and Exchange Commission at sec.gov). The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.

About TELUS

TELUS (TSX:T, NYSE:TU) 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 our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our 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 us the distinction of the world's most giving company.

We're always building Canada.

For more information, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.

For more information, please contact:

Emily Piccinin

TELUS Public Relations

[email protected]

SOURCE TELUS Communications Inc.

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