| Schedule of operating activities and investing activities |
| | | | | | | | | | | | | | | Three months | | Six months | Periods ended June 30 (millions) | | 2026 | | 2025 | | 2026 | | 2025 | OPERATING ACTIVITIES | | | | | | | | | | | | | Net change in non-cash operating working capital | | | | | | | | | | | | | Current | | | | | | | | | | | | | Accounts receivable | | $ | 239 | | $ | 34 | | $ | 278 | | $ | 225 | Inventories | | | (3) | | | 81 | | | 21 | | | 144 | Contract assets | | | 17 | | | 16 | | | 24 | | | 12 | Costs incurred to obtain or fulfill contracts with customers (Note 20) | | | (7) | | | (4) | | | 78 | | | (21) | Prepaid maintenance and other | | | (36) | | | (65) | | | (180) | | | (171) | Unrealized change in held for trading derivatives | | | (5) | | | (1) | | | 1 | | | (3) | Accounts payable and accrued liabilities (Note 24) | | | (25) | | | (70) | | | (71) | | | (319) | Advance billings and customer deposits (Note 25) | | | (56) | | | (29) | | | (73) | | | (41) | Provisions | | | (20) | | | (5) | | | 17 | | | 1 | | | | 104 | | | (43) | | | 95 | | | (173) | | | | | | | | | | | | | | Non-current | | | | | | | | | | | | | Contract assets | | | 10 | | | 31 | | | 11 | | | 52 | Unbilled customer finance receivables | | | 16 | | | 20 | | | 34 | | | 22 | Unrealized change in held for trading derivatives | | | (3) | | | — | | | (14) | | | — | Costs incurred to obtain or fulfill contracts with customers (Note 20) | | | (18) | | | (14) | | | (2) | | | (28) | Prepaid maintenance | | | (3) | | | 3 | | | (19) | | | 8 | Refundable security deposits and other | | | 3 | | | (5) | | | (1) | | | (5) | Provisions (Note 25) | | | 13 | | | (26) | | | (31) | | | (110) | Contract liabilities (Note 24, 27) | | | 9 | | | 25 | | | 22 | | | 35 | Other post-employment benefit liabilities | | | (1) | | | 1 | | | (4) | | | 6 | Other long-term liabilities | | | 37 | | | 5 | | | 45 | | | — | | | | 63 | | | 40 | | | 41 | | | (20) | | | $ | 167 | | $ | (3) | | $ | 136 | | $ | (193) | | | | | | | | | | | | | | INVESTING ACTIVITIES | | | | | | | | | | | | | Cash payments for capital assets, excluding spectrum licences | | | | | | | | | | | | | Capital asset additions | | | | | | | | | | | | | Gross capital expenditures | | | | | | | | | | | | | Property, plant and equipment (Note 17) | | $ | (775) | | $ | (796) | | $ | (1,422) | | $ | (1,397) | Intangible assets subject to amortization (Note 18) | | | (259) | | | (248) | | | (524) | | | (449) | | | | (1,034) | | | (1,044) | | | (1,946) | | | (1,846) | Additions arising from leases (Note 17) | | | 356 | | | 349 | | | 592 | | | 564 | Additions arising from non-monetary transactions | | | — | | | 17 | | | 25 | | | 17 | Capital expenditures (Note 5) | | | (678) | | | (678) | | | (1,329) | | | (1,265) | Other non-cash items included above | | | | | | | | | | | | | Change in associated non-cash investing working capital | | | 81 | | | 80 | | | (25) | | | 13 | | | $ | (597) | | $ | (598) | | $ | (1,354) | | $ | (1,252) |
1 | For the three-month period ended June 30, 2026, includes capital expenditures of $19 (2025 – $NIL) and for the six-month period ended June 30, 2026, includes capital expenditures of $28 (2025 – $NIL) in respect of our Terrion subsidiary (see Note 28(b)). |
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| Schedule of changes in liabilities arising from financing activities |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three-month period ended June 30, 2025 | | Three-month period ended June 30, 2026 | | | | | | Statement of cash flows | | Non-cash changes | | | | | | | | Statement of cash flows | | Non-cash changes | | | | | | | | | | | | | | | Foreign | | | | | | | | | | | | | | | | | Foreign | | | | | | | | | | | | | | Redemptions, | | exchange | | | | | | | | | | | | | | Redemptions, | | exchange | | | | | | | | Beginning of | | Issued or | | repayments or | | movement | | | | | | | Beginning of | | Issued or | | repayments or | | movement | | | | | | (millions) | | period | | received | | payments | | (Note 4(e)) | | Other | | End of period | | period | | received | | payments | | (Note 4(e)) | | Other | | End of period | Dividends payable to holders of Common Shares | | $ | 610 | | $ | — | | $ | (610) | | $ | — | | $ | 634 | | $ | 634 | | $ | 653 | | $ | — | | $ | (653) | | $ | — | | $ | 659 | | $ | 659 | Dividends reinvested in shares from Treasury | | | — | | | — | | | 205 | | | — | | | (205) | | | — | | | — | | | — | | | 219 | | | — | | | (219) | | | — | | | $ | 610 | | $ | — | | $ | (405) | | $ | — | | $ | 429 | | $ | 634 | | $ | 653 | | $ | — | | $ | (434) | | $ | — | | $ | 440 | | $ | 659 | Short-term borrowings | | $ | 1,325 | | $ | 19 | | $ | (349) | | $ | (73) | | $ | — | | $ | 922 | | $ | 920 | | $ | 475 | | $ | (188) | | $ | 18 | | $ | — | | $ | 1,225 | Net-settled derivatives used to manage currency risk arising from U.S. dollar-denominated short-term borrowings – liability (asset) | | | (6) | | | — | | | (60) | | | 67 | | | — | | | 1 | | | — | | | 41 | | | (19) | | | (23) | | | — | | | (1) | | | $ | 1,319 | | $ | 19 | | $ | (409) | | $ | (6) | | $ | — | | $ | 923 | | $ | 920 | | $ | 516 | | $ | (207) | | $ | (5) | | $ | — | | $ | 1,224 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Long-term debt | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | TELUS Corporation senior notes | | $ | 21,277 | | $ | — | | $ | — | | $ | (238) | | $ | 6 | | $ | 21,045 | | $ | 17,664 | | $ | — | | $ | (500) | | $ | 80 | | $ | 3 | | $ | 17,247 | TELUS Corporation commercial paper | | | 2,116 | | | 662 | | | (1,690) | | | (97) | | | — | | | 991 | | | 1,643 | | | 1,338 | | | (933) | | | 45 | | | — | | | 2,093 | TELUS Corporation credit facilities | | | — | | | 770 | | | (764) | | | (6) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Other (unsecured) | | | — | | | 280 | | | — | | | (7) | | | — | | | 273 | | | 299 | | | 13 | | | (273) | | | (5) | | | — | | | 34 | TELUS Corporation junior subordinated notes | | | — | | | 4,451 | | | — | | | (5) | | | (32) | | | 4,414 | | | 7,322 | | | — | | | — | | | 81 | | | — | | | 7,403 | Other (secured) | | | 580 | | | — | | | (129) | | | — | | | 117 | | | 568 | | | 489 | | | — | | | (10) | | | — | | | — | | | 479 | Lease liabilities | | | 2,902 | | | — | | | (176) | | | 7 | | | 360 | | | 3,093 | | | 2,714 | | | — | | | (100) | | | 3 | | | 358 | | | 2,975 | Derivatives used to manage currency risk arising from U.S. dollar-denominated long-term debt – liability (asset) | | | (65) | | | 1,709 | | | (1,742) | | | 382 | | | (65) | | | 219 | | | (112) | | | 933 | | | (919) | | | (206) | | | 150 | | | (154) | TELUS Communications Inc. debentures | | | 200 | | | — | | | — | | | — | | | — | | | 200 | | | — | | | — | | | — | | | — | | | — | | | — | TELUS International (Cda) Inc. credit facility | | | 1,649 | | | 306 | | | (256) | | | (91) | | | 2 | | | 1,610 | | | — | | | — | | | — | | | — | | | — | | | — | | | | 28,659 | | | 8,178 | | | (4,757) | | | (55) | | | 388 | | | 32,413 | | | 30,019 | | | 2,284 | | | (2,735) | | | (2) | | | 511 | | | 30,077 | To eliminate effect of gross settlement of derivatives used to manage currency risk arising from U.S. dollar-denominated long-term debt | | | — | | | (1,709) | | | 1,709 | | | — | | | — | | | — | | | — | | | (933) | | | 933 | | | — | | | — | | | — | | | $ | 28,659 | | $ | 6,469 | | $ | (3,048) | | $ | (55) | | $ | 388 | | $ | 32,413 | | $ | 30,019 | | $ | 1,351 | | $ | (1,802) | | $ | (2) | | $ | 511 | | $ | 30,077 | Partnership distributions payable to non-controlling interests | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | (9) | | $ | — | | $ | 9 | | $ | — |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six-month period ended June 30, 2025 | | Six-month period ended June 30, 2026 | | | | | | Statement of cash flows | | Non-cash changes | | | | | | | | Statement of cash flows | | Non-cash changes | | | | | | | | | | | | | | | Foreign | | | | | | | | | | | | | | | | | Foreign | | | | | | | | | | | | | | | Redemptions, | | exchange | | | | | | | | | | | | | | Redemptions, | | exchange | | | | | | | | | Beginning of | | Issued or | | repayments or | | movement | | | | | | | Beginning of | | Issued or | | repayments or | | movement | | | | | | (millions) | | period | | received | | payments | | (Note 4(e)) | | Other | | End of period | | period | | received | | payments | | (Note 4(e)) | | Other | | End of period | Dividends payable to holders of Common Shares | | $ | 605 | | $ | — | | $ | (1,215) | | $ | — | | $ | 1,244 | | $ | 634 | | $ | 649 | | $ | — | | $ | (1,302) | | $ | — | | $ | 1,312 | | $ | 659 | Dividends reinvested in shares from Treasury | | | — | | | — | | | 408 | | | — | | | (408) | | | — | | | — | | | — | | | 438 | | | — | | | (438) | | | — | | | $ | 605 | | $ | — | | $ | (807) | | $ | — | | $ | 836 | | $ | 634 | | $ | 649 | | $ | — | | $ | (864) | | $ | — | | $ | 874 | | $ | 659 | Short-term borrowings | | $ | 922 | | $ | 413 | | $ | (351) | | $ | (62) | | $ | — | | $ | 922 | | $ | 920 | | $ | 485 | | $ | (209) | | $ | 29 | | $ | — | | $ | 1,225 | Net-settled derivatives used to manage currency risk arising from U.S. dollar-denominated short-term borrowings – liability (asset) | | | 2 | | | 9 | | | (62) | | | 52 | | | — | | | 1 | | | — | | | 64 | | | (28) | | | (37) | | | — | | | (1) | | | $ | 924 | | $ | 422 | | $ | (413) | | $ | (10) | | $ | — | | $ | 923 | | $ | 920 | | $ | 549 | | $ | (237) | | $ | (8) | | $ | — | | $ | 1,224 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Long-term debt | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | TELUS Corporation senior notes | | $ | 22,077 | | $ | — | | $ | (800) | | $ | (242) | | $ | 10 | | $ | 21,045 | | $ | 18,191 | | $ | — | | $ | (1,100) | | $ | 148 | | $ | 8 | | $ | 17,247 | TELUS Corporation commercial paper | | | 1,404 | | | 2,124 | | | (2,440) | | | (97) | | | — | | | 991 | | | 952 | | | 2,698 | | | (1,630) | | | 73 | | | — | | | 2,093 | TELUS Corporation credit facilities | | | — | | | 770 | | | (764) | | | (6) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Other (unsecured) | | | — | | | 280 | | | — | | | (7) | | | — | | | 273 | | | 295 | | | 13 | | | (273) | | | (1) | | | — | | | 34 | TELUS Corporation junior subordinated notes | | | — | | | 4,451 | | | — | | | (5) | | | (32) | | | 4,414 | | | 7,250 | | | — | | | — | | | 151 | | | 2 | | | 7,403 | Other (secured) | | | 588 | | | — | | | (137) | | | — | | | 117 | | | 568 | | | 537 | | | — | | | (21) | | | — | | | (37) | | | 479 | Lease liabilities | | | 2,882 | | | — | | | (369) | | | 19 | | | 561 | | | 3,093 | | | 3,314 | | | — | | | (945) | | | 4 | | | 602 | | | 2,975 | Derivatives used to manage currency risk arising from U.S. dollar-denominated long-term debt – liability (asset) | | | (68) | | | 2,479 | | | (2,498) | | | 410 | | | (104) | | | 219 | | | 71 | | | 1,630 | | | (1,616) | | | (372) | | | 133 | | | (154) | TELUS Communications Inc. debentures | | | 200 | | | — | | | — | | | — | | | — | | | 200 | | | — | | | — | | | — | | | — | | | — | | | — | TELUS International (Cda) Inc. credit facility | | | 1,703 | | | 507 | | | (509) | | | (93) | | | 2 | | | 1,610 | | | — | | | — | | | — | | | — | | | — | | | — | | | | 28,786 | | | 10,611 | | | (7,517) | | | (21) | | | 554 | | | 32,413 | | | 30,610 | | | 4,341 | | | (5,585) | | | 3 | | | 708 | | | 30,077 | To eliminate effect of gross settlement of derivatives used to manage currency risk arising from U.S. dollar-denominated long-term debt | | | — | | | (2,479) | | | 2,479 | | | — | | | — | | | — | | | — | | | (1,630) | | | 1,630 | | | — | | | — | | | — | | | $ | 28,786 | | $ | 8,132 | | $ | (5,038) | | $ | (21) | | $ | 554 | | $ | 32,413 | | $ | 30,610 | | $ | 2,711 | | $ | (3,955) | | $ | 3 | | $ | 708 | | $ | 30,077 | Partnership distributions payable to non-controlling interests | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | (14) | | $ | — | | $ | 14 | | $ | — |
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