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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 · Commitments and contingent liabilities

Commitments and contingent liabilities

Contractual obligations as at December 31, 2025

​​​​​​​​​​​​​​​​​
($ millions)​ ​ ​2026​ ​ ​2027​ ​ ​2028​ ​ ​2029​ ​ ​2030​ ​ ​2031 - 2035​ ​ ​Thereafter​ ​ ​Total
Short-term borrowings​​​​​​​​
Interest obligations3719—————56
Principal obligations1—920—————920
​37939—————976
Long-term debt​​​​​​​​
Interest obligations1,3521,2391,1821,1111,0484,00412,18322,119
Principal maturities2,4021,5601,9551,4081,9296,49611,65927,409
​3,7542,7993,1372,5192,97710,50023,84249,528
Leases​​​​​​​​
Interest obligations1591291007656183144847
Principal maturities6786104893462204655023,310
​8377395894222766486464,157
Occupancy costs213211593​85641244617
Purchase obligations3​​​​​​​​
Operating expenditures81335426121722421—1,890
Property, plant and equipment, and Intangible assets22399544—254
​1,03636327022222825—2,144
Non-interest bearing financial liabilities3,10610862867—3,297
Net receipts on derivatives used to manage currency and other price risk​(18)​(78)​13​(23)​(20)​(122)​(83)​(331)
Other obligations13——————13
Total8,8974,9854,1643,2333,53111,18224,40960,401

1 SeeSection 7.7 Short-term borrowings.

2Occupancy costs include transactions with real estate joint ventures. See Section 7.11 Transactions between related parties.
3Where applicable, purchase obligations reflect foreign exchange rates at December 31, 2025. Purchase obligations include future operating and capital expenditures that have been contracted for at the current year-end and include the most likely estimates of prices and volumes, where necessary. As purchase obligations reflect market conditions at the time the obligation was incurred for the items being purchased, they may not be representative of future years. Obligations from personnel supply contracts and other such labour agreements have been excluded.

Claims and lawsuits

A number of claims and lawsuits (including class actions and intellectual property infringement claims) seeking damages and other relief are pending against us and, in some cases, other mobile carriers and telecommunications service providers. As well, we have received notice of, or are aware of, certain possible claims (including intellectual property infringement claims) against us and, in some cases, other mobile carriers and telecommunications service providers. (See the related risk discussion inSection 10.18 Litigation and legal matters.)

It is not currently possible for us to predict the outcome of such claims, possible claims and lawsuits due to various factors, including: the preliminary nature of some claims; uncertain damage theories and demands; an incomplete factual record; uncertainty concerning legal theories and procedures and their resolution by the courts, at both the trial and the appeal levels; and the unpredictable nature of opposing parties and their demands.

However, subject to the foregoing limitations, management is of the opinion, based upon legal assessments and information presently available, that it is unlikely that any liability, to the extent not provided for through insurance or otherwise, would have a material effect on our financial position and the results of our operations, including cash flows, with the exception of the items disclosed inNote 29(a) of the Consolidated financial statements. This is a significant judgment for us (seeSection 8.1 Critical accounting estimates and judgments).

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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.