Financial Data and Key Metrics Changes - TELUS achieved record free cash flow of CAD 2.2 billion for the full year 2025, representing an increase of 11% over 2024, exceeding the annual target [8] - The company reported a T-Tech adjusted EBITDA increase of 3.1% for 2025, demonstrating disciplined execution and a focus on cost efficiency [8][24] - The net debt to EBITDA leverage ratio improved to 3.4 times at the end of 2025, with expectations to reach approximately 3.3 times or lower by the end of 2026 [20][28] Business Line Data and Key Metrics Changes - In the fourth quarter, TELUS achieved total telecom customer net additions of 377,000, with wireless driving strong net additions of 337,000 [9] - The company reported 1.1 million full mobile and fixed customer net additions in 2025, including record connected device net additions of 716,000 [5][6] - TELUS Health experienced a 13% increase in operating revenues and a 10% increase in adjusted EBITDA, attributed to the acquisition of Workplace Options and organic growth [26] Market Data and Key Metrics Changes - TELUS maintained an industry-leading postpaid mobile phone churn rate of 0.97% for the full year 2025, marking the twelfth consecutive year below the 1% threshold [7] - The company reported a decline in ARPU of 1.6%, but noted an accelerated sequential improvement, reflecting effective go-to-market strategies [24][25] Company Strategy and Development Direction - TELUS is focused on amplifying profitable revenue expansion while maintaining cost efficiencies, positioning itself for sustainable value-accretive growth [21] - The company plans to leverage its AI capabilities to drive down costs and improve operational efficiencies, targeting CAD 150 million to CAD 200 million in annual cash synergies [16][94] - TELUS aims to grow its AI-enabling capabilities revenue from approximately CAD 800 million in 2025 to around CAD 2 billion by 2028 [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering sustained profitable growth, supported by a robust asset mix and diversified business portfolio [30] - The company anticipates consolidated service revenue and adjusted EBITDA growth of up to 4% in 2026, alongside a free cash flow target of approximately CAD 2.45 billion [20][29] - Management emphasized the importance of maintaining healthy industry economics and brand differentiation amidst competitive pressures [36][84] Other Important Information - The company announced a leadership transition, with Victor Dodig set to become CEO effective July 1, 2026, following Darren's retirement [3][4] - TELUS is exploring strategic investment opportunities for TELUS Health and TELUS Agriculture and Consumer Goods, alongside monetization of real estate and copper assets [19][20] Q&A Session Summary Question: Current wireless environment and strategy on flanker vs. fighter brands - Management acknowledged the promotional environment and emphasized the importance of brand differentiation to maintain healthy industry economics [36] Question: Improvement in ARPU trend - Management confirmed that the improvement in ARPU is organic and expected to continue, driven by better customer value propositions [64] Question: Guidance for revenue and EBITDA growth - Management indicated that growth will come from telecom, TELUS Digital, and TELUS Health, with expectations of double-digit EBITDA growth from both digital and health segments [51] Question: Changes in CEO and potential impact on capital allocation - Management assured continuity in growth initiatives and capital allocation strategies despite the leadership transition [68]

Q4 2025 Investor Conference Call February 12, 2026 Caution regarding forward-looking statements Today's discussion may contain forward-looking statements, including statements relating to our objectives and our strategies to achieve those objectives, our 2026 targets, our expectations regarding trends in the telecommunications industry (including demand for data and ongoing subscriber base growth), regarding AI-enabling revenue, regarding growth in different areas of our business and regarding the nature, t ...

Group 1 - Telus' longtime Chief Executive Darren Entwistle will step down from his position [1] - Victor Dodig, a former bank executive, will take over as the new CEO of Telus [1]

分组1 - Telus reported quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.18 per share, and down from $0.18 per share a year ago, representing an earnings surprise of -17.81% [1] - The company posted revenues of $3.77 billion for the quarter ended December 2025, missing the Zacks Consensus Estimate by 3.98%, and down from $3.85 billion year-over-year [2] - Over the last four quarters, Telus has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates [2] 分组2 - Telus shares have increased by approximately 8.1% since the beginning of the year, outperforming the S&P 500's gain of 1.4% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.18 for the coming quarter and $0.75 for the current fiscal year [7] - The Zacks Industry Rank places Diversified Communication Services in the top 19% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Exhibit 99.1 News Release February 12, 2026 TELUS reports strong and industry leading operational and financial results for the fourth quarter and full year 2025; establishes compelling and industry-best 2026 financial targets Industry-leading fourth quarter total Mobile and Fixed customer growth of 377,000, including 50,000 mobile phone, 287,000 connected devices and 35,000 internet net additions driven by continued demand for our premium bundled services nationally; Delivered positive mobile network reven ...

Core Insights - Darren Entwistle will retire as President and CEO of TELUS Corporation on June 30, 2026, after 26 years of leadership, during which he transformed TELUS from a regional telecom provider to a global technology leader generating over $20 billion in annual revenue [1][2] - Victor Dodig has been appointed as the new President and CEO, effective July 1, 2026, following a comprehensive succession planning process [1][2] Group 1: Leadership Transition - The TELUS Board of Directors has recognized Darren Entwistle for his transformational leadership and contributions to the company and the Canadian telecom industry [1] - Victor Dodig, who has been an Independent Director on the TELUS Board since May 2022, will join the leadership team full-time on May 1, 2026, to ensure a smooth transition [1][2] - Entwistle will step down from the TELUS board on June 30, 2026, and will be honored with the title of CEO Emeritus [1] Group 2: Achievements and Legacy - Under Entwistle's leadership, TELUS has expanded its operations to over 45 countries and has consistently delivered industry-leading shareholder value and operational excellence [1][2] - TELUS has been recognized for its commitment to social capitalism, integrating commercial success with social impact [1] - The company has invested significantly in community initiatives, contributing $1.85 billion since 2000, and has launched programs like the TELUS Student Bursary, distributing over $6 million to students [2] Group 3: Victor Dodig's Background - Victor Dodig previously served as President and CEO of Canadian Imperial Bank of Commerce (CIBC) from 2014 to 2025, where he led a comprehensive transformation focused on customer service and technology [1][2] - Dodig's experience includes leadership roles that emphasize customer-oriented business strategies and sustainable growth, positioning him well to build on Entwistle's legacy [1][2] - He is recognized for fostering inclusive workplace environments and has served as Board Chair of the Business Council of Canada [2]

Core Insights - TELUS Corporation reported strong customer growth in Q4 2025, adding 377,000 net customers, including 50,000 mobile phone and 35,000 internet customers, driven by demand for premium bundled services [1][3][7] - The company achieved a full-year basic Earnings Per Share (EPS) growth of 9% and a net income increase of 12%, with cash from operations stable at $4.9 billion [1][4] - TELUS Health experienced significant growth, with revenue and Adjusted EBITDA increasing by 13% and 10% respectively, supported by strategic investments and acquisitions [3][9] Financial Performance - Consolidated operating revenues for Q4 2025 were $5.3 billion, a slight decrease from $5.4 billion in the previous year, primarily due to lower mobile equipment revenue [2][4] - Consolidated Free Cash Flow reached a record $2.2 billion, up 11% from the prior year, exceeding annual guidance [1][4] - The company’s Adjusted EBITDA for TTech increased by 3.1% in 2025, reflecting disciplined execution and cost management [4][6] Customer Metrics - TELUS achieved a total subscriber base of 21.2 million connections, with a 5% increase year-over-year, including a 19% rise in connected devices [8][14] - The mobile phone churn rate was 0.97% for the full year, marking the twelfth consecutive year below 1% [3][23] - Healthcare lives covered by TELUS Health reached 161.2 million, an increase of 85 million over the past year, driven by acquisitions and growth in employee assistance programs [9][21] Capital Expenditures and Debt Management - Consolidated capital expenditures for Q4 2025 were $649 million, an 18% increase from the previous year, with a focus on subscriber growth and customer experience [11][14] - The company concluded 2025 with a Net Debt to Adjusted EBITDA ratio of 3.4 times, targeting 3.3 times or lower by year-end 2026 [1][4] 2026 Financial Targets - TELUS set 2026 financial targets, aiming for 2-4% growth in Consolidated Service Revenues and Adjusted EBITDA, with a projected Free Cash Flow of approximately $2.45 billion [2][25] - Consolidated Capital Expenditures are expected to decrease by 10% to approximately $2.3 billion in 2026 [2][25] Leadership Transition - Darren Entwistle, the President and CEO, will retire on June 30, 2026, with Victor Dodig appointed as his successor effective July 1, 2026 [27]

Core Insights - The TELUS Digital poll indicates that follow-up questions to AI assistants like ChatGPT or Claude rarely lead to more accurate responses, emphasizing the importance of high-quality training data and model evaluation for AI systems [1][2] Group 1: Poll Findings - Among 1,000 U.S. adults using AI regularly, only 8% reported that AI responses became less accurate when questioned, while 26% could not determine the correct answer, 40% felt the new response was similar to the original, and 25% believed the new response was more accurate [1] - 88% of respondents have witnessed AI making mistakes, yet only 15% always fact-check AI-generated answers, indicating a gap in user diligence [1] Group 2: Research Findings - TELUS Digital's research evaluated four large language models (LLMs): Meta's Llama-4, Anthropic's Claude Sonnet 4.5, Google's Gemini 3 Pro, and OpenAI's GPT-5.2, focusing on their responses to follow-up prompts [1] - The study found that follow-up prompts do not reliably improve LLM accuracy and can sometimes decrease it, with GPT-5.2 showing a tendency to change correct answers to incorrect ones when questioned [1] Group 3: Recommendations for Enterprises - Enterprises are encouraged to invest in robust subject matter expertise, flexible platforms, and end-to-end AI data solutions to ensure AI reliability and user trust [1][2] - High-quality, expert-guided data is essential for training AI systems effectively, particularly in high-stakes contexts [2]

Core Insights - Telus is expected to report quarterly earnings of $0.18 per share, unchanged from the same period last year, with revenues projected at $3.93 billion, reflecting a year-over-year increase of 2.2% [1] - There have been no revisions in the consensus EPS estimate over the last 30 days, indicating stability in analysts' forecasts [1][2] Financial Metrics - Total telecom subscriber connections are projected to reach 21.02 million, up from 20.18 million in the same quarter last year [4] - Subscribers for connected devices are expected to be 4.30 million, compared to 3.73 million a year ago [4] - Internet subscribers are estimated at 2.81 million, slightly up from 2.76 million in the previous year [5] - TV subscribers are forecasted to reach 1.45 million, an increase from 1.39 million year-over-year [5] - Security subscribers are estimated at 1.16 million, up from 1.12 million in the same quarter last year [6] - Residential voice subscribers are projected to be 977.06 thousand, down from 1.03 million a year ago [6] - Mobile phone subscribers are expected to be 10.33 million, compared to 10.15 million in the same quarter last year [7] Market Performance - Telus shares have returned +5.6% over the past month, outperforming the Zacks S&P 500 composite, which showed no change [7] - The company holds a Zacks Rank 2 (Buy), indicating expectations of beating overall market performance in the near future [7]

Core Insights - A strategic agreement between Abu Dhabi Health Data Services (ADHDS) and TELUS Health aims to introduce personalized employee wellbeing solutions in the UAE, integrating wellness, precision medicine, and AI-driven healthcare innovation [1][2] - The Employee Assistance Program (EAP) will feature over 40 modules focused on emotional, lifestyle, and wellbeing support, delivered in local languages to enhance user experience [1][2] - The collaboration seeks to create a health and wellbeing environment that improves workplace focus, reduces absenteeism, and enhances productivity and engagement for employers [2] Company Overview - M42, headquartered in Abu Dhabi, is a global health champion leveraging AI, technology, and genomics to innovate healthcare solutions [3] - Established in 2023, M42 operates over 480 facilities across 26 countries and employs more than 20,000 individuals, including partnerships with renowned healthcare providers [4] - ADHDS, a key asset of M42, was founded in 2018 as a Public-Private Partnership to operate Malaffi, the Abu Dhabi Health Information Exchange, and has been recognized for its rapid deployment of advanced digital healthcare solutions [7] Industry Context - The UAE is experiencing a significant shift in organizational approaches to employee wellbeing, with a focus on integrating mental health support and wellness solutions [2] - The partnership between ADHDS and TELUS Health aims to enhance healthcare delivery through AI innovation and digital infrastructure, ultimately building more resilient health systems [2][6] - TELUS Health operates in over 200 countries, supporting more than 160 million individuals in their physical, mental, and financial wellbeing journeys [8][9]