segment information

6 Months Ended

Jun. 30, 2026

5	segment information

Operating segments are components of an entity that engage in business activities from which they earn revenues and incur expenses (including revenues and expenses related to transactions with the other component(s)), the operations of which can be clearly distinguished and for which the operating results are regularly reviewed by a chief operating decision-maker to make resource allocation decisions and to assess performance.

The TELUS technology solutions segment includes: network revenues and equipment sales arising from mobile technologies; data revenues (which include internet protocol; television; hosting, managed information technology and cloud-based services; and home and business security and automation); agriculture and consumer goods services (software, data management and data analytics-driven smart-food chain and consumer goods technologies); voice and other telecommunications services revenues; and equipment sales.

The TELUS health segment includes: healthcare services, software and technology solutions (including employee and family assistance programs and benefits administration).

The TELUS digital experience segment, which has the U.S. dollar as its primary functional currency, includes key service lines: digital solutions; artificial intelligence and data solutions; trust and safety; and customer experience management. Subsequent to TELUS Corporation’s acquisition of the TELUS International (Cda) Inc. non-controlling interests in fiscal 2025, our internal and external reporting processes, systems and internal controls were transitioned to match the post-privatization operational realignment; commencing with the three-month period ended March 31, 2026, our segmented reporting structure was correspondingly transitioned and comparative amounts have been restated on a comparable basis.

Intersegment sales are recorded at the exchange value, which is the amount agreed to by the parties.

The segment information regularly reported to our Chief Executive Officer (our chief operating decision-maker), and the reconciliation thereof to our products and services view of revenues, other revenues and income before income taxes, are set out in the following table.


	TELUS technology solutions																TELUS digital
Three-month periods ended	Mobile				Fixed				Segment total				TELUS health				experience				Eliminations				Total
June 30 (millions)	2026		2025		2026		2025		2026		2025		2026		2025		2026		2025		2026		2025		2026		2025
							(restated*)				(restated*)				(restated*)				(restated*)				(restated*)
Operating revenues
External revenues
Service	$	1,766	$	1,755	$	1,490	$	1,494	$	3,256	$	3,249	$	533	$	514	$	653	$	728	$	—	$	—	$	4,442	$	4,491
Equipment		410		466		67		72		477		538		1		2		—		—		—		—		478		540
Revenues arising from contracts with customers	$	2,176	$	2,221	$	1,557	$	1,566		3,733		3,787		534		516		653		728		—		—		4,920		5,031

					Other income (Note 7)					8		50		—		1		1		—		—		—		9		51
										3,741		3,837		534		517		654		728		—		—		4,929		5,082
					Intersegment revenues					5		5		2		2		120		99		(127)		(106)		—		—
									$	3,746	$	3,842	$	536	$	519	$	774	$	827	$	(127)	$	(106)	$	4,929	$	5,082
					EBITDA ¹				$	1,563	$	1,585	$	75	$	91	$	(17)	$	18	$	(33)	$	(15)	$	1,588	$	1,679
					Restructuring and other costs included in EBITDA (Note 16)					76		55		24		7		89		71		—		—		189		133
					Adjusted EBITDA ¹				$	1,639	$	1,640	$	99	$	98	$	72	$	89	$	(33)	$	(15)	$	1,777	$	1,812
					Capital expenditures ²				$	633	$	591	$	44	$	59	$	34	$	43	$	(33)	$	(15)	$	678	$	678
					Adjusted EBITDA less capital expenditures ¹				$	1,006	$	1,049	$	55	$	39	$	38	$	46	$	—	$	—	$	1,099	$	1,134
					Operating revenues – external, other income and intersegment (above)				$	3,746	$	3,842	$	536	$	519	$	774	$	827	$	(127)	$	(106)	$	4,929	$	5,082
					Goods and services purchased					1,597		1,620		184		163		182		166		(94)		(91)		1,869		1,858
					Employee benefits expense					586		637		277		265		609		643		—		—		1,472		1,545
					EBITDA (above)					1,563		1,585		75		91		(17)		18		(33)		(15)		1,588		1,679
					Depreciation					526		535		15		10		50		56		—		—		591		601
					Amortization of intangible assets					273		238		95		100		66		65		—		—		434		403
					Impairment of intangible assets and goodwill					—		—		—		—		2,135		500		—		—		2,135		500
					Operating income (loss)				$	764	$	812	$	(35)	$	(19)	$	(2,268)	$	(603)	$	(33)	$	(15)		(1,572)		175

																					Financing costs					420		373
																					Income (loss) before income taxes				$	(1,992)	$	(198)


	TELUS technology solutions																TELUS digital
Six-month periods ended	Mobile				Fixed				Segment total				TELUS health				experience				Eliminations				Total
June 30 (millions)	2026		2025		2026		2025		2026		2025		2026		2025		2026		2025		2026		2025		2026		2025
							(restated*)				(restated*)				(restated*)				(restated*)				(restated*)
Operating revenues
External revenues
Service	$	3,544	$	3,512	$	2,980	$	2,998	$	6,524	$	6,510	$	1,055	$	984	$	1,347	$	1,440	$	—	$	—	$	8,926	$	8,934
Equipment		856		965		125		147		981		1,112		2		3		—		—		—		—		983		1,115
Revenues arising from contracts with customers	$	4,400	$	4,477	$	3,105	$	3,145		7,505		7,622		1,057		987		1,347		1,440		—		—		9,909		10,049

					Other income (Note 7)					20		89		1		1		12		—		—		—		33		90
										7,525		7,711		1,058		988		1,359		1,440		—		—		9,942		10,139
					Intersegment					11		11		4		4		228		201		(243)		(216)		—		—
									$	7,536	$	7,722	$	1,062	$	992	$	1,587	$	1,641	$	(243)	$	(216)	$	9,942	$	10,139
					EBITDA¹				$	2,986	$	3,196	$	143	$	166	$	33	$	89	$	(52)	$	(28)	$	3,110	$	3,423
					Restructuring and other costs included in EBITDA (Note 16)					335		134		49		16		120		80		—		—		504		230
					Adjusted EBITDA¹				$	3,321	$	3,330	$	192	$	182	$	153	$	169	$	(52)	$	(28)	$	3,614	$	3,653
					Capital expenditures²				$	1,213	$	1,106	$	97	$	103	$	71	$	84	$	(52)	$	(28)	$	1,329	$	1,265
					Adjusted EBITDA less capital expenditures¹				$	2,108	$	2,224	$	95	$	79	$	82	$	85	$	—	$	—	$	2,285	$	2,388
					Operating revenues – external, other income and intersegment (above)				$	7,536	$	7,722	$	1,062	$	992	$	1,587	$	1,641	$	(243)	$	(216)	$	9,942	$	10,139
					Goods and services purchased					3,206		3,236		353		328		357		329		(191)		(188)		3,725		3,705
					Employee benefits expense					1,344		1,290		566		498		1,197		1,223		—		—		3,107		3,011
					EBITDA (above)					2,986		3,196		143		166		33		89		(52)		(28)		3,110		3,423
					Depreciation					1,043		1,064		31		23		100		106		—		—		1,174		1,193
					Amortization of intangible assets					514		478		194		194		131		131		—		—		839		803
					Impairment of intangible assets and goodwill					—		—		—		—		2,135		500		—		—		2,135		500
					Operating income (loss)				$	1,429	$	1,654	$	(82)	$	(51)	$	(2,333)	$	(648)	$	(52)	$	(28)		(1,038)		927

																					Financing costs					755		717
																					Income (loss) before income taxes				$	(1,793)	$	210

*	As required by IFRS Accounting Standards, comparative amounts have been restated to conform with the reportable segments presented in the current period.

Earnings before interest, income taxes, depreciation and amortization (EBITDA), both unadjusted and adjusted, are not standardized financial measures under IFRS Accounting Standards and may not be comparable to similar measures disclosed by other issuers; we define EBITDA as operating revenues and other income less goods and services purchased and employee benefits expense. We calculate adjusted EBITDA to exclude items that do not reflect our ongoing operations and, in our opinion, should not be considered in a long-term valuation metric or included in an assessment of our ability to service or incur debt. We report EBITDA, adjusted EBITDA and adjusted EBITDA less capital expenditures because they are key measures that management uses to evaluate the performance of our business, and EBITDA is also utilized in determining compliance with certain debt covenants.

2	See Note 31(a) for a reconciliation of capital asset additions, excluding spectrum licences, to cash payments for capital assets, excluding spectrum licences, reported in the consolidated statements of cash flows.

For the three-month and six-month periods ended June 30, 2026,TELUS technology solutions capital expenditures include real estate development amounts of $19 (2025 – $21) and $35 (2025 – $29), respectively. Real estate development capital expenditures are not a standardized financial measure under IFRS Accounting Standards and may not be comparable to similar measures disclosed by other issuers; we define real estate capital expenditures as including amounts for both investment properties and certain owner-occupied properties.