Dual-Currency Issuance

.TELUS announced the pricing of $1.5 billion of U.S.‑dollar Fixed‑to‑Fixed Rate Junior Subordinated Notes (Series C $800 M at 6.375% and Series D $700 M at 6.625%, both maturing 9 June 2056 with five‑year Treasury‑linked resets) and $800 million of Canadian‑dollar notes (Series CAT $400 M at 5.375% and Series CAU $400 M at 5.875%, also maturing 9 June 2056 with similar resets). The offerings, led by CIBC, BMO, TD and Wells Fargo, are expected to close around 9 Dec 2025. Proceeds will fund a $500 M tender to repurchase legacy notes, retire $600 M of 3.75% notes, and support 5G, fiber, health‑tech and agritech investments, diversifying TELUS’s long‑term funding while mitigating interest‑rate risk.