VANCOUVER, BC — January 16, 2026 — Leads & Copy — TELUS Corporation has confirmed the successful completion of the full redemption of its outstanding C$600 million 3.75% Notes, Series CV due March 10, 2026 (CUSIP No. 87971MBC6), according to a press release issued today.
The redemption, initially announced on December 16, 2025, was funded through proceeds from TELUS’ December 2025 offering of Fixed-to-Fixed Rate Junior Subordinated Notes (“Hybrid Notes”), which raised the equivalent of C$2.9 billion with proceeds designated toward debt repayment.
Doug French, Executive Vice-President and CFO, stated that the redemption demonstrates TELUS’ disciplined approach to balance sheet management and its commitment to strengthening its financial foundation. He added that by proactively managing the company’s debt maturity profile through strategic refinancing, TELUS is creating greater financial flexibility to support its capital allocation priorities and drive long-term shareholder value.
The redemption is part of TELUS’ broader balance sheet management and deleveraging initiatives, which also included the early redemption of seven series of discounted notes totaling C$1.0 billion in cash proceeds, as communicated on December 10, 2025, following the issuance of the Hybrid Notes.
The company’s net debt to adjusted EBITDA for 2025 is projected at approximately 3.4-times. TELUS aims to reach circa 3.3-times or lower by year-end 2026, and approximately 3.0-times by the end of 2027.
Ian McMillan – Investor Relations – ir@telus.com
Steve Beisswanger – Media Relations – Steve.Beisswanger@telus.com
Source: TELUS Corporation
