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Leading the World When the World Needs Us Most

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Leading the world when the world needs us most ANNUAL REPORT 2020 We are leading the world TELUS is a dynamic, world-leading communications 1–9 technology company with $16 billion in annual revenue Corporate overview and 16 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and Supporting our stakeholders through an unprecedented year, results and highlights security. We leverage our global-leading technology from 2020, and our 2021 targets and compassion to enable remarkable human outcomes. Our long-standing commitment to putting our customers first fuels every aspect of our business, 10–15 making us a distinct leader in customer service CEO letter to investors excellence and loyalty. TELUS Health is Canada’s Keeping our stakeholders connected to leader in digital health technology, TELUS Agriculture what matters most through our leadership in social capitalism provides innovative digital solutions throughout the agriculture value chain and TELUS International is a leading digital customer experience innovator 16–17 that delivers next-generation AI and content Our social purpose at a glance management solutions for global brands. Leveraging technology to enable remarkable human outcomes Driven by our passionate social purpose to connect all citizens for good, our deeply meaningful and 18 –21 enduring philosophy to give where we live has inspired Operations at a glance TELUS, our team members and retirees to contribute Reviewing our wireless and wireline more than $820 million and 1.6 million days of operations service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. 22– 29 Leadership Our Executive Team, questions and answers, Many photos within this report were taken Board of Directors and corporate governance prior to the COVID-19 pandemic. For those photos taken during 2020, all necessary precautions were strictly followed. TELUS 30–196 is committed to ensuring the health and Financial review safety of our team members, customers Detailed financial disclosure, including a letter and communities. from our CFO and other investor resources All financial information is reported in Canadian dollars unless otherwise specified. Copyright © 2021 TELUS Corporation. All rights reserved. Certain products and services named in this report are trademarks. The symbols TM and ® indicate those owned by TELUS Corporation or its subsidiaries. All other trademarks are the property of their respective owners. Corporate Overview When things are at their worst, our team is at its best In 2020, our working, educational and social lives changed dramatically. As citizens, team members and employers, we have had to respond in unprecedented ways to keep our families, colleagues and fellow citizens safe, connected, healthy and productive. Driving meaningful change is core to our leadership in social capitalism. It’s more than just our commitment to give where we live to strengthen our communities, it’s how we leverage our innovative world-leading technology to help address the world’s most pressing social issues. Our ability to respond to the global pandemic – quickly and effectively – is a direct result of the successful strategy we have embraced for two decades. TELUS 2020 ANNUAL REPORT • 1 Celebrating the power of caring, innovation and spirited teamwork ••• Donating care kits to those in need darren_entwistle In a true example of collaboration, The TELUS Toronto Central Ambassador Club, including Asharaf Sheriff members of our @TELUS team, together with TELUS retirees and local businesses, came together and his children, filled and donated 100 care kits to the Agincourt Community to support the Soowahlie First Nation community Services Association (ACSA) in Toronto. ACSA addresses a variety of issues in British Columbia. The team delivered close to including systemic poverty, hunger, inadequate housing, homelessness, 3,000 lbs of goods including fresh produce, meat, unemployment, accessibility and social isolation. Each kit contained TELUS- and dry goods. Thank you to Kyle Tom at North American Produce (@napsvancouver) and Chris Les branded masks, gloves and hand sanitizers, and were distributed to local at Meadow Valley Meats for providing goods at-cost residents in need to help keep them safe throughout the pandemic. and donating a portion of the delivery; and to TELUS retiree Mark Ens of Big Box Outlets, who arranged our dry goods order, which included hundreds of pounds of non-perishable food items. Finally, a big thank Caring for critters you to all the TELUS team members who provided Numerous dedicated team members, support including Andrew Marshall, Anne Zhong (@vancity_anne), Courtney Samson, Devin Campbell, including Tania Stupavsky, visited Eric Nordgren, Neil Marshall, Norman Leffler, Sean, an alpaca farm in Mont-Saint-Hilaire, Tresson Marsh, and Rob Aiello for your enthusiasm Quebec, to help improve their habitat. and spirited teamwork. Bravo! #AllConnectedForGood #COVID19 #COVID19Canada #CoronavirusCanada The team wanted to support a #TELUS #CommunityGiving #GivingBack small, family-run business as part of our TELUS #StandWithOwners campaign and were looking for an activity that was family-friendly, and where team members would be able to maintain safe physical distancing. Together, these team members cleared a forest of debris to provide more room for the alpacas, ensuring they could roam freely and enjoy the wilderness. 2 • TELUS 2020 ANNUAL REPORT ••• Providing seniors with technology to stay connected darren_entwistle I am proud of our @TELUS team and their continuous efforts to support our communities, The West Country Family Service respond to their call for help. Team including 55 of our amazing @TELUSfr team members, Association in Alberta offers assistance members secured a number of Smart led by Caroline, Nathalie, Stéphanie and Pierre, who with health and support services, Hubs to loan to the seniors’ homes went door to door in Saint-Georges in Beauce, Quebec, as well as social activities, to individuals and Technicians Jason Melanson (left) collecting food for @moissonbeauce. Helping nearly 350 people in need, they picked up more than 2,800 kg who may be isolated in their homes and Kevin Maxwell (right) installed of groceries from the 600+ families who participated. due to physical or emotional incapacity. them at West Country. Furthermore, Bravo, team! #WeWillGetThroughThisTogether TELUS was made aware that seniors the West Country team is now offering #StayStrongStayConnected #AllConnectedForGood in their care were in need of tablets technology training to the seniors, with #COVID19 #COVID19Canada #CoronavirusCanada #TELUS and internet connectivity to support the hope that the program encourages their learning and to better connect them to permanently embrace the them to their families, particularly during internet and technology in their homes ••• the pandemic. Our team was quick to to help them stay connected. Demonstrating everyday innovation darren_entwistle Just in time for the holidays, our In September, team members from Montreal and Guatemala City participated new @TELUS critter masks featuring our loveable in their first-ever Thoughtful Acts of Kindness Days, initiated to gain synergies snow leopard and penguin critters, will help to between the two teams working across the globe. From preparing hot meals keep you, your families and our communities safe. Thanks to the support of our customers and team to be handed out to homeless people in Guatemala, to bringing groceries members, including Katie and her family, we’ve been to elderly neighbours, there were over 250 acts of kindness that brightened able to raise hundreds of thousands of dollars to the day for many citizens. The teams, including Aline Restikian (left) and support COVID-19 relief efforts through the TELUS @friendlyfuturefoundation. Click the link in bio to Luis Zuleta, collaborated on various projects to give back to their respective see all of our critter mask designs. #WearAMask communities in Canada and Guatemala. As a result of the success of #TELUSCritterMasks #CritterMasks #TELUSCritters the program, the teams have decided to make this an annual tradition. TELUS 2020 ANNUAL REPORT • 3 We are responding to unprecedented times in unprecedented ways $150 million commitment to COVID-19 relief efforts $10 million to support public healthcare $535,000 to TELUS Friendly Future Foundation™ through sale of TELUS-branded critter masks 4 • TELUS 2020 ANNUAL REPORT TELUS will stand with our communities, as we have always done, throughout the COVID-19 pandemic and beyond. From keeping families connected while loved ones are in hospital and enabling citizens to stay productive while working and learning remotely, to helping businesses pivot their operations to continue serving customers and harnessing technology to improve health outcomes, we are leading the world when the world needs us most. 14,200 360,000 devices donated to keep at-risk masks sewn and donated Canadians connected 13,300 12,700 backpacks filled with school supplies COVID-19 assessments done by and TELUS-branded critter masks TELUS mobile health clinics 1,250,000 29,000 virtual volunteer hours healthcare practitioners enabled to conduct video visits with patients TELUS 2020 ANNUAL REPORT • 5 2020 PERFORMANCE AT A GLANCE Delivering solid results and keeping citizens connected Operations Financial resources Customer connections5 +5.5% +14% +535,000 Operating revenues
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