TELUS CORP

EBITDA – TTech segment

TTech EBITDA increased by $263 million or 4% in 2025. In addition to the growth drivers discussed withinTTech Adjusted EBITDA below, EBITDA also reflected a reduction in restructuring and other costs of $122 million in 2025, primarily related to prior-year investments in cost efficiency and effectiveness programs, inclusive of real estate rationalization.

TTech Adjusted EBITDA increased by $141 million or 2% in 2025, reflecting: (i) cost reduction efforts, including workforce reductions, and increased adoption of TELUS Digital’s solutions across TTech operations, resulting in competitive benefits of digital enablement and a lower cost structure of TELUS Digital’s operations, as well as reductions in marketing and administrative costs; and (ii) mobile, residential internet, and security and automation subscriber growth. These factors were partially offset by: (i) lower mobile phone ARPU; (ii) lower mobile equipment margins; (iii) lower B2B data services revenue; (iv) higher bad debt expense; (v) declining fixed legacy margins; (vi) increased costs of subscription-based licences and cloud usage; (vii) lower Other income; and (viii) lower agriculture and consumer goods margins from the divestiture of non-core assets.

TTech Adjusted EBITDA margin increased by 1.5 percentage points in 2025. This improvement was largely the result of our cost efficiency and effectiveness programs, as described above.