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Midas Edge

TELUS CORP

For the period ended Dec 31, 2025. Filed Feb 12, 2026.

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About this filing

The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.

FY2025 · Filed Feb 12, 2026

TU$9.11-3.3%Stored close · as of Nov 6, 2026
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Contents

EX-99.4 · Calculation of Adjusted EBITDA margin

Calculation of Adjusted EBITDA margin

​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · TTech · ​ · TELUS Health · ​ · TELUS Digital · ​ · Eliminations · ​ · Total
Years ended December 31 ($ millions, except margin) · ​ ​ ​ · 2025 · ​ ​ ​ · 2024 · ​ ​ ​ · 2025 · ​ ​ ​ · 2024 · ​ ​ ​ · 2025 · ​ ​ ​ · 2024 · ​ ​ ​ · 2025 · ​ ​ ​ · 2024 · ​ ​ ​ · 2025 · ​ ​ ​ · 2024
​ · ​ ​ ​ · ​ · ​ ​ ​ · (restated) · ​ · ​ · ​ · ​ · ​ ​ ​ · ​ · ​ ​ ​ · ​ · ​ ​ ​ · ​ · ​ ​ ​ · (restated) · ​ ​ ​ · ​ · ​ ​ ​ · ​
Numerator – Adjusted EBITDA6,5756,434​354​290504659(79)(50)7,3547,333
Denominator – Operating revenues and other income15,61415,809​2,060​1,7903,8823,724(1,050)(937)20,50620,386
Adjusted EBITDA margin (%)42.140.6​17.2​16.213.017.7n/mn/m35.936.0

EBITDA – excluding restructuring and other costs interest coverage: This measure is defined as EBITDA – excluding restructuring and other costs, divided by net interest cost, calculated on a 12-month trailing basis. It is similar to the coverage ratio covenant in our credit facilities, as described inSection 7.6 Credit facilities.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.