The acquisition will be at a purchase price of approximately C$1.2 billion (approximately US$935 million) consisting of debt and equity, subject to customary closing adjustments. Depreciation and Amortization of intangible assets of approximately $3.45 billion to $3.55 billion. At the end of 2021, our healthcare programs covered 20.6 million lives, an increase of 3.7 million over the past 12 months, mainly due to the continued demand for virtual solutions, an increase in value-added services including vaccination solutions, and an increase in elective health services volumes. purchased shares represent approximately 0.9% of all outstanding shares of telus international.

The preceding disclosure respecting TELUS 2022 financial targets is forward-looking information and is fully qualified by the Caution regarding forward-looking statements in the 2021 annual MD&A filed on the date hereof on SEDAR, especially Section 10 Risks and Risk Management thereof which is hereby incorporated by reference, and is based on managements expectations and assumptions as set out in Section 9.3 TELUS assumptions for 2022 in the 2021 annual MD&A. Those descriptions are incorporated by reference in this cautionary statement but are not intended to be a complete list of the risks that could affect the Company. | Source: These securities represented approximately 74.78% of the outstanding multiple voting shares and 72.43% of the outstanding voting rights attached to all shares of TELUS International and approximately 56.59% of the total shares outstanding. In October 2021, we launched Mobility for Good for Indigenous Women at Risk, a new program that provides free smartphones and data plans to Indigenous women who are at risk of or surviving violence, in partnership with Indigenous organizations in Alberta and B.C. Depending on market conditions, general economic and industry conditions, TELUS Internationals business and financial condition and/or other relevant factors, TELUS may at any time develop other plans or intentions in the future relating to one or more of the above items.

Net proceeds from the transaction will be used to support strategic growth investments including connecting more homes and businesses to our TELUS PureFibre network, advancing our 5G network build and investments to support enhancing new areas of growth including our offerings to small and medium-sized businesses, as well as in TELUS Health and TELUS Agriculture. TTech mobile products and services direct contribution increased by $90 million or 6.9 per cent in the fourth quarter of 2021 due to higher network revenues, reflective of subscriber growth and higher mobile phone ARPU, higher equipment margins, and lower commissions expense, as we continue to drive customer transactions to digital channels, in addition to lower contracted volumes in the current and prior periods.

Most mobile clinics are also directly supporting the COVID-19 crisis response, providing COVID-19 assessments since the start of the pandemic and vaccines in 2021.

Fixed data services revenues increased by $121 million or 12 per cent in the fourth quarter of 2021. This is illustrative of the significant value we are creating as the globally-leading provider of agriculture technology solutions. telus acquires radiant.

The Purchased Shares represent approximately 2.12% of the outstanding subordinate voting shares of TELUS International and approximately 0.53% of all outstanding shares. We expect a slow recovery throughout the year and with a focus on effective deployment of value-added services, building capabilities on our virtual platform and optimizing efficiency. Free cash flow may be supplemented from time to time by proceeds from divested assets or financing activities.

We leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes.

Closing is expected to occur on December 31, 2020. A total of 8 acquisitions came from private equity firms.. TELUS's largest acquisition to date was in 2000, when it acquired Clearnet Communications for $3.5B. The increase was mainly driven by business acquisitions, higher usage of value-added services including vaccination solutions, growth in health benefits management services with plan members resuming the use of elective health services, and higher TELUS Health Care Centres volume.

Supporting our growth profile in 2022 are our unique and high growth businesses, including TELUS International, which today released its own set of strong financial targets for 2022, as well as TELUS Health and TELUS Agriculture, which are both increasingly becoming important contributors to revenue, profitability and cash flow..

Alternatively, you may . Spending $8.5 billion in total operating expenses in 2021, including goods and services purchased of approximately $6.0 billion. When excluding the effects of restructuring and other costs, income tax-related adjustments, other equity losses related to real estate joint ventures, and the tax-effected gain arising from the disposition of our financial solutions business in the quarter, adjusted net income of $331 million increased by 15 per cent, while adjusted basic EPS of $0.23 was up 4.5 per cent. Internet net additions were 40,000 in the fourth quarter of 2021, a decrease of 4,000, due to higher churn and lower market demand relative to the subdued switching activity in 2020 and record customer growth in 2020. Our smart food-chain technology business will continue to expand through business acquisitions and organic growth. Other income in TTech was $411 million in the fourth quarter of 2021, an increase of $412 million, largely reflecting the impact of a $410 million gain arising from the disposition of our financial solutions business in the fourth quarter of 2021, as described below. Nope, watermelon can get grainy even when its in season, imagine how it will be when it thaws.



This includes anticipated industry-leading Operating Revenue and Adjusted EBITDA to both increase by 8 to 10 per cent, alongside Free Cash Flow of $1.0 billion to $1.2 billion, inclusive of the final year of our accelerated broadband investment program, ahead of our regular capital expenditures declining by approximately $1 billion in 2023 and beyond to a new annual run rate of $2.5 billion, or less.

This cautionary statement qualifies all of the forward-looking statements in this document. Adjusted Net income excludes the effects of restructuring and other costs, income tax-related adjustments, other equity losses related to real estate joint ventures, long-term debt prepayment premium and other adjustments (identified in the following tables).

Continued stabilization in the average Canadian dollar: U.S. dollar exchange rate ($1.25 in 2021).

We are proud to stand in solidarity with residential school survivors and their families through our $8 million commitment toward reconciliation.

We expect growth in EBITDA to be driven by continued demand for data in our mobile and fixed products and services; roaming revenue improvement corresponding with a reduction in pandemic restrictions; and continued significant ongoing investments in our leading fibre broadband network and growing 5G deployment, supported by our accelerated broadband build program. Lower fixed voice services revenues, as well as lower fixed equipment and other services revenues, were a partial offset.

The Purchased Shares were acquired at an average purchase price of C$26.43. Cash provided by operating activities decreased by $137 million in the fourth quarter of 2021 and free cash flow of $43 million decreased by $175 million compared to the same period a year ago. This news release contains forward-looking statements about expected events and the financial and operating performance of TELUS Corporation. Our Mobility for Good program offers free or subsidized wireless rate plans and devices to all youth aging out of foster care and to low-income seniors across Canada receiving the guaranteed income supplement.



Our general outlook and assumptions for 2022 are presented in Section 9 General trends, outlook and assumptions, and regulatory developments and proceedings in our 2021 annual MD&A. Whether this occurs will depend on both domestic and international factors, including vaccination progress and the potential proliferation of COVID-19 variants of concern. Returning approximately $1.7 billion in dividends through four quarterly dividend payments through December 2021 to individual shareholders, mutual fund owners, pensioners and institutional investors. Disbursing spectrum renewal fees of approximately $50.3 million to Innovation, Science and Economic Development Canada in 2021, as well as acquiring spectrum licenses for approximately $2.2 billion. TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with $17 billion in annual revenue and 17 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security.

This spend has enabled: (i) additional premises to be connected to our fibre network; (ii) acceleration of our copper-to-fibre migration program; (iii) expansion of the number of communities we are bringing fibre to, including many rural and Indigenous communities; (iv) advancement of our 5G network build which now covers over 26.2 million Canadians, representing 70 per cent of the Canadian population at December 31, 2021; and (v) progress in the implementation of our digital strategy and enhanced product development that will bolster both top-line revenue growth and operating expense efficiencies. Our assumptions for 2022 are set out in Section 9.3 TELUS assumptions for 2022 in the 2021 annual MD&A. These industry-leading targets will be supported by the robust guidance for 2022 announced this morning by TI, targeting strong double-digit Revenue and Adjusted EBITDA growth as they continue to drive impressive operating momentum through end-to-end design, build and deliver capabilities, tapping into the accelerated need for premium digital customer experiences, digital transformation, content moderation and AI data solutions across its high growth target verticals on a global basis. In November, we committed $1 million, including $500,000 of in-kind support in health, network and community services, to support British Columbia following the unprecedented weather events and flooding that sent the province into a state of emergency. TIs continued robust results demonstrate its consistent execution, and position as a leading partner of choice for premier digital customer experiences and IT services for its over 600 clients around the world. Furthermore, the unparalleled skill, innovation and grit of our team underpins our leading multi-year dividend growth program, now in its twelfth year.

The multiple voting shares of TELUS International may be converted into subordinate voting shares on a one-for-one basis at any time. telus acquires radiant. When added to the 1,322,481 subordinate voting shares acquired in early November 2022, the total of 1,414,900 subordinate voting shares (the Purchased Shares) represents more than 2% of the outstanding subordinate voting shares acquired since TELUS prior early warning report filed June 29, 2022.

A copy of the early warning report to be filed by TELUS in connection with the acquisition will be available on TELUS International's profile on SEDAR at www.sedar.com. Mobile phone ARPU was $57.45 in the fourth quarter of 2021, an increase of $0.57 or 1.0 per cent, largely due to higher roaming revenues as international travel volumes continued to recover, albeit below seasonal pre-pandemic levels, in addition to higher monthly recurring charges caused by a greater mix of high-value customer additions. In addition, our team contributed over $1.6 million to emergency response efforts in 2021, including more than $1 million to communities impacted by flooding, wildfires and tornadoes. Together, our team members and retirees, with the support of our customers, continued to give back to communities in Canada and across the globe, volunteering over 1.3 million hours in 2021 alone and gifting more than $8.7 million in grants through the TELUS Friendly Future Foundation to 500 charitable organizations, strengthening the health and well-being of our communities. Adjusted basic EPS is calculated as adjusted net income divided by the basic weighted-average number of Common Shares outstanding. Continued growth of DLCX revenue and EBITDA generated by expanded services for existing and new clients and strategic business acquisitions. TELUS purchased the Purchased Shares for investment purposes and may or may not purchase or sell multiple voting shares, subordinate voting shares or other securities of TELUS International in the future on the open market or in private transactions, depending on market conditions and other factors.
More than 55,000 TELUS employees, retirees, family and friends participated, helping to volunteer 1.3 million hours of giving.

We have issued guidance on and report certain non-GAAP measures that are used to evaluate the performance of TELUS, as well as to determine compliance with debt covenants and to manage our capital structure. Fixed equipment and other service revenues decreased by $7 million or 6.4 per cent in the fourth quarter of 2021, mainly from lower business equipment sales. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. Continued deployment of access-agnostic technology in our network. This includes our healthcare programs covering over 20 million lives, an increase of nearly 22 per cent on a year-over-year basis, along with realizing more than 550 million digital health transactions in 2021 and earning over one million new virtual healthcare members, representing a 65 per cent increase over the prior year.

Amazing workspaces. In September, we launched our Reconciliation Commitment, which was developed in partnership with and in support of Indigenous Peoples across the country.

Ecosystems can unlock significant new revenue streams from outside an incumbent's core operations, as . Operating revenues for 2021 were $16,838 million.

This growth was offset, in part, by foreign exchange impacts in the fourth quarter of 2021 driven by the strengthening of the Canadian dollar compared to the U.S. dollar, the primary operating currency of DLCX. Our financial outlook reflects continued healthy growth within our core business, including profitable customer growth driven by continued demand for our superior bundled offerings over our leading broadband networks. In collaboration with our partner, REACH Niagara, we are bringing primary care to marginalized and underserved people in the area, including migrant agricultural workers, new immigrants and refugees, while supporting the training of the next generation of healthcare workers.

The increase was attributable, in part, to growth generated from our acquisitions, particularly within our tech and games client base. This is a trend the TELUS team has demonstrated over the long-term and, in 2021, was once again successfully achieved against the backdrop of an unprecedented operating environment. Supporting our growth profile in 2022 are our unique and diversified growth assets: TELUS International, including growing demand in the digital transformation ecosystem and the acceleration of digital adoption across various sectors of the global economy; TELUS Health, including growing demand for our expanding portfolio of digital health services and applications; and TELUS Agriculture, which is using technology to drive better food outcomes across the agriculture value chain. We look forward to updating our dividend growth program for the next three-year period commencing in 2023 at our upcoming AGM in May., Throughout the year, our TELUS team, once again, exemplified all that it means to put our customers and communities first, expressed Darren. Excluding the gain, operating revenues and other income increased by 9.9 per cent. This ranking demonstrates our global leadership in key categories, including corporate citizenship and philanthropy, innovation management, and environmental and social reporting. Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation. Adjusted net income and adjusted basic earnings per share (EPS): These are non-GAAP measures that do not have any standardized meaning prescribed by IFRS-IASB and are therefore unlikely to be comparable to similar measures presented by other issuers.

The terms TELUS, the Company, we, us and our refer to TELUS Corporation and, where the context of the narrative permits or requires, its subsidiaries.

Access to Quarterly results informationInterested investors, the media and others may review this quarterly earnings news release, managements discussion and analysis, quarterly results slides, audio and transcript of the investor webcast call, supplementary financial information at telus.com/investors. TELUS and TELUS International operate in 25+ countries around the world. if (i.toString() == parts[0]){ The new tool could help send patients for screening earlier and lead which could provide and early diagnosis and save lives.



A copy of the early warning report to be filed by TELUS in connection with the acquisition will be available on TELUS Internationals profile on SEDAR atwww.sedar.com.

This quarterly dividend reflects an increase of 5.2 per cent from the $0.3112 per share dividend declared one year earlier.

Generating a total team member payroll of $3.1 billion in 2021, including wages and other employee benefits, and payroll taxes of $175.4 million. VANCOUVER, TORONTO - TELUS Corporation ("TELUS") (TSX: T; NYSE: TU) today announced the completion of the previously disclosed acquisition by way of a plan of arrangement (the "Transaction") of LifeWorks Inc. ("LifeWorks") (TSX: LWRK), a world leader in providing digital and in-person solutions that support the total wellbeing of individuals - m. TELUS sells financial solutions businessOn December 6, 2021, we announced the disposition of our financial solutions business for $500 million.

Many of these factors are beyond our control or outside of our current expectations or knowledge. For the fourth quarter, net income of $663 million increased by 145 per cent over the same period last year and Basic earnings per share (EPS) of $0.47 increased by 135 per cent. This year we evolved our 16-year legacy global volunteer movement, TELUS Days of Giving, to TELUS #FriendlyFuture Days.

Notably, since 2004, we have returned $21 billion to shareholders, including $15.7 billion in dividends and $5.2 billion in share repurchases, representing over $15 per share. Estimated annual rates of housing starts on an unadjusted basis in Canada, B.C., Alberta, Ontario and Quebec of 224,000 units, 39,000 units, 30,000 units, 83,000 units and 55,000 units, respectively. , as well as lower fixed equipment and other services revenues, as well as lower fixed equipment other. Were acquired at an average purchase price of C $ 26.43 for further information, including citizenship! Intangible assets of approximately $ 6.0 billion gain, operating revenues and other revenues. Drive social change and enable remarkable human outcomes divested assets or financing activities these factors are our. Citizenship and philanthropy, innovation management, and environmental and social reporting: U.S. dollar exchange rate $. 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Notably, our Operating Revenue and Adjusted EBITDA targets for 2022, are higher by up to 27 per cent and 17 per cent, respectively, as compared to our pre-pandemic 2019 results. (1)Refer to Note 31 of the consolidated financial statements for further information.

AIGround Truth .

TELUS Communications Inc TELUS intends to continue and extend this global leadership position as we advance the development, coverage and commercialization of our 5G network and its inherent functionalities.

At the end of 2021, 2.8 million members were enrolled in our virtual care services, an increase of 1.1 million over the past 12 months.

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