TELUS Acquires Additional Shares of TELUS Digital

VANCOUVER, BC, Sept. 27, 2024 /PRNewswire/ - TELUS Corporation ("TELUS") today announced that it has acquired, through a wholly owned subsidiary, an aggregate of 2,593,631 subordinate voting shares (the "Purchased Shares") in the capital of TELUS International (Cda) Inc. ("TELUS Digital") by way of market purchases over the facilities of the Toronto Stock Exchange. As a result of the acquisition of these subordinate voting shares, TELUS has acquired an additional 2.35% interest in the TELUS Digital subordinate voting shares since TELUS' prior early warning report filed on August 16, 2024. When added to the 4,031,191 subordinate voting shares held prior to the last report, TELUS now holds approximately 5.99% of the outstanding subordinate voting shares.

"We continue to hold confidence in TELUS Digital and its long term profitable growth strategy," said Darren Entwistle, President and CEO of TELUS. "In recognition of the considerable opportunities ahead, we are once again increasing our existing share ownership of the subordinate voting shares in the public market. These purchases are not part of a strategy to privatize the business, but rather, a reflection of our strong belief in the meaningful and sustainable value that TELUS Digital will create for stakeholders in the years to come."

The purchase of the Purchased Shares is being made pursuant to the normal course purchase exemption set forth in section 4.1 of National Instrument 62-104.

Before giving effect to the purchase subsequent to our August 15th news release, TELUS held an aggregate of 152,004,019 multiple voting shares of TELUS Digital and 4,031,191 subordinate voting shares. These securities represented approximately 92.5% of the outstanding multiple voting shares and 86.9% of the outstanding voting rights attached to all shares of TELUS Digital and approximately 56.8% of the total shares outstanding, reflecting the conversion by Riel B.V. of multiple voting shares into subordinate voting shares. The 2,593,631 Purchased Shares were acquired at an average purchase price of C$4.90, representing a total additional investment, before trading commissions, of C$12,703,197. After giving effect to the market purchases, TELUS holds an aggregate of 152,004,019 multiple voting shares and 6,624,822 subordinate voting shares. The shares held by TELUS now represent approximately 92.5% of the outstanding multiple voting shares, 6.0% of the outstanding subordinate voting shares, 57.7% of the outstanding shares of TELUS Digital and 87.0% of the outstanding voting rights of TELUS Digital. The multiple voting shares of TELUS Digital may be converted into subordinate voting shares on a one-for-one basis at any time.

TELUS purchased the Purchased Shares for investment purposes and may or may not purchase or sell multiple voting shares, subordinate voting shares or other securities of TELUS Digital in the future on the open market or in private transactions, depending on market conditions and other factors. TELUS currently has no other plans or intentions that relate to its investment in TELUS Digital. Depending on market conditions, general economic and industry conditions, TELUS Digital's business and financial condition and/or other relevant factors, TELUS may at any time develop other plans or intentions in the future relating to one or more of the above items. A copy of the early warning report to be filed by TELUS in connection with the acquisition will be available on TELUS Digital's profile on SEDAR+ at sedarplus.ca. Alternatively, you may contact TELUS Investor Relations at 1-800-667-4871 in order to obtain a copy of the report.

The headquarters and principal executive offices of TELUS Digital are located at Floor 5, 510 West Georgia Street, Vancouver, British Columbia, Canada V6B 0M3

About TELUS

TELUS (TSX:T, NYSE:TU) is a dynamic, world-leading communications technology company with more than $20 billion in annual revenue and over 19 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS' global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.

Operating in 32 countries around the world, TELUS Digital Experience (NYSE:TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across strategic industry verticals, including tech and games, communications and media, eCommerce and fintech, banking, financial services and insurance, healthcare, and others.

TELUS Health is a global healthcare leader, which provides employee and family primary and preventive healthcare and wellbeing solutions. Our TELUS team, along with our 100,000 health professionals, are leveraging the combination of TELUS' strong digital and data analytics capabilities with our unsurpassed client service to dramatically improve remedial, preventive and mental health outcomes covering over 75 million lives, and growing, around the world. As the largest provider of digital solutions and digital insights of its kind, TELUS Agriculture & Consumer Goods enables efficient and sustainable production from seed to store, helping improve the safety and quality of food and other goods in a way that is traceable to end consumers.

Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS and our team to contribute $1.7 billion, including 2.2 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let's make the future friendly.

For more information about TELUS, please visit telus.com, follow us at @TELUSNews on X and @Darren_Entwistle on Instagram.

Investor Relations

Robert Mitchell

(647) 837-1606

[email protected]

Ian McMillan

(604) 317-8768

[email protected] 

Media Relations

Steve Beisswanger

(514) 865-2787

[email protected]

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SOURCE TELUS Corporation