TELUS (T) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with acknowledgments of Indigenous lands and a focus on reconciliation and inclusion, including virtual participation and accessibility features.

• Outlined a historic leadership transition, with Darren Entwistle retiring as CEO and Victor Dodig set to assume the role on July 1st, following a comprehensive succession process.

• Agenda included tabling financial statements, four voting motions, and a Q&A session.

Financial performance review

• Revenue grew 242% since 2000, EBITDA more than doubled to CAD 7.4 billion, and free cash flow rose 1,666% to CAD 2.2 billion in 2025.

• 2025 saw industry-leading customer net additions (1,081,000), postpaid churn under 1% for the twelfth consecutive year, and record free cash flow growth of 11%.

• Q1 2026 delivered 262,000 net additions, 1% service revenue growth, and 19% free cash flow growth.

• TELUS Health revenue reached CAD 2 billion in 2025, with 15% revenue and 22% EBITDA growth, targeting over CAD 400 million EBITDA in 2026.

• Total shareholder return since 2000 was 661%, with CAD 31 billion returned to shareholders.

Board and executive committee updates

• Darren Entwistle retiring as CEO, becoming CEO Emeritus; Victor Dodig to become CEO July 1st.

• Doug French, CFO, retiring at end of June; Gopi Chande named new CFO effective July 1st.

• 14 board members nominated for re-election, representing diverse backgrounds.