TELUS : Supplément d'information (Offert en anglais seulement)

TELUS Corporation

Third Quarter, 2022

Supplemental Investor Information

(UNAUDITED)

Financial information presented according to

International Financial Reporting Standards (IFRS)

as issued by the International Accounting Standards Board (IASB)

	For further information, please contact:		Table of Contents
	TELUS Investor Relations		TELUS Corporation
	1-800-667-4871		- Selected Consolidated Data	2
	[e-mail]		- Segmented Data	3
	www.telus.com		- Segmented Data (Historical Trend)	4
			TELUS technology solutions
	Ian McMillan		- Operations	5
	[phone]		- Operations (Historical Trend)	6
	[e-mail]		- Operating Statistics	7
			- Operating Statistics (Historical Trend)	8
	Robert Mitchell		Digitally-led customer experiences - TELUS International
	[phone]		- Operations	9
	[e-mail]		- Operations (Historical Trend)	10
			Non-GAAP and other specified financial measures and definitions	11-12

Supplemental Investor Information (Unaudited)	TELUS Corporation
Third Quarter, 2022	Page 1

TELUS Corporation

Selected Consolidated Data

				Quarterly				Sept YTD	Annual
$ in millions except shares, per share amounts, and ratios	Q3/22	Q2/22	Q1/22	Q4/21	Q3/21	Q2/21	Q1/21	2022	2021
Net Income	551	498	404	663	358	344	333	1,453	1,698
Adjusted Net Income1	471	422	414	331	392	348	359	1,307	1,430
Basic earnings per share ($)	0.37	0.34	0.28	0.47	0.25	0.25	0.25	0.99	1.23
Adjusted Basic earnings per share ($)1	0.34	0.32	0.30	0.23	0.29	0.26	0.27	0.95	1.07
Dividends declared per common share ($)	0.3386	0.3386	0.3274	0.3274	0.3162	0.3162	0.3112	1.0046	1.2710
Return on common equity2	12.9%	12.1%	11.4%	11.6%	9.3%	9.4%	9.3%	12.9%	11.6%
Earnings coverage	4.4	4.2	4.0	3.9	3.3	3.2	3.1	4.4	3.9
EBITDA interest coverage ratio3	9.1	8.9	8.6	8.4	7.6	7.4	7.3	9.1	8.4
Cash provided by operating activities	1,300	1,250	1,135	896	1,309	1,244	939	3,685	4,388
Free cash flow4	331	205	415	43	203	210	321	951	777
Long-term debt	25,139	21,628	21,319	20,852	20,533	19,932	19,772	25,139	20,852
Net debt5	23,689	21,693	20,960	20,535	19,009	18,169	18,230	23,689	20,535
Net debt : EBITDA - excluding restructuring and other costs (times)6	3.44	3.23	3.18	3.17	3.19	3.11	3.15	3.44	3.17
Outstanding shares at end of period (M)	1,420	1,381	1,376	1,370	1,361	1,355	1,349	1,420	1,370
Basic weighted average shares outstanding (M)	1,398	1,381	1,376	1,368	1,361	1,355	1,298	1,385	1,346

Supplemental Investor Information (Unaudited)	TELUS Corporation
Third Quarter, 2022	Page 2

TELUS Corporation

Segmented Data

		Quarter 3				Sept YTD
$ in millions	2022	2021	Change	% Change	2022	2021	Change	% Change
Operating revenues and other income
TELUS technology solutions	4,009	3,669	340	9.3%	11,384	10,729	655	6.1%
Digitally-led customer experiences - TELUS International	803	700	103	14.7%	2,359	1,997	362	18.1%
Less: Intersegment revenue	(141)	(118)	(23)	(19.5%)	(389)	(340)	(49)	(14.4%)
Operating revenues and other income	4,671	4,251	420	9.9%	13,354	12,386	968	7.8%
EBITDA7
TELUS technology solutions	1,457	1,355	102	7.5%	4,274	4,014	260	6.5%
Digitally-led customer experiences - TELUS International	189	141	48	35.1%	534	394	140	35.7%
Consolidated	1,646	1,496	150	10.1%	4,808	4,408	400	9.1%
EBITDA margin
TELUS technology solutions	36.3%	37.0%	(0.7) pts.	37.5%	37.4%	0.1	pts.
Digitally-led customer experiences - TELUS International	23.6%	20.0%	3.6	pts.	22.6%	19.7%	2.9	pts.
Consolidated	35.2%	35.2%	-	pts.	36.0%	35.6%	0.4	pts.
Capital expenditures
TELUS technology solutions	892	962	(70)	(7.3%)	2,710	2,506	204	8.1%
Digitally-led customer experiences - TELUS International	33	29	4	13.8%	102	83	19	22.9%
Consolidated	925	991	(66)	(6.7%)	2,812	2,589	223	8.6%
Capital expenditure intensity8
TELUS technology solutions	22%	26%	(4)	pts.	24%	23%	1	pt.
Digitally-led customer experiences - TELUS International	4%	4%	-	pts.	4%	4%	-	pts.
Consolidated	20%	23%	(3)	pts.	21%	21%	-	pts.
EBITDA less capex
TELUS technology solutions	565	393	172	43.8%	1,564	1,508	56	3.7%
Digitally-led customer experiences - TELUS International	156	112	44	39.3%	432	311	121	38.9%
Consolidated	721	505	216	42.8%	1,996	1,819	177	9.7%
Adjusted EBITDA9
TELUS technology solutions	1,524	1,410	114	8.1%	4,395	4,128	267	6.5%
Digitally-led customer experiences - TELUS International	200	149	51	35.5%	559	424	135	32.2%
Consolidated	1,724	1,559	165	10.7%	4,954	4,552	402	8.9%
Adjusted EBITDA margin21
TELUS technology solutions	38.0%	38.4%	(0.4)	pts.	38.6%	38.5%	0.1	pts.
Digitally-led customer experiences - TELUS International	24.9%	21.1%	3.8	pts.	23.7%	21.2%	2.5	pts.
Consolidated	36.9%	36.6%	0.3	pts.	37.1%	36.7%	0.4	pts.

Supplemental Investor Information (Unaudited)	TELUS Corporation
Third Quarter, 2022	Page 3

TELUS Corporation

Segmented Data - Historical Trend

				Quarterly				Sept YTD	Annual
$ in millions	Q3/22	Q2/22	Q1/22	Q4/21	Q3/21	Q2/21	Q1/21	2022	2021
Operating revenues and other income
TELUS technology solutions	4,009	3,733	3,642	4,237	3,669	3,566	3,494	11,384	14,966
Digitally-led customer experiences - TELUS International	803	797	759	757	700	658	639	2,359	2,754
Less: Intersegment revenue	(141)	(129)	(119)	(122)	(118)	(113)	(109)	(389)	(462)
Operating revenues and other income	4,671	4,401	4,282	4,872	4,251	4,111	4,024	13,354	17,258
Revenues % change on prior year
TELUS Technology Solutions	9.3%	4.7%	4.2%	17.9%	4.1%	10.6%	6.1%	6.1%	9.8%
Digitally-led customer experiences - TELUS International	14.7%	21.1%	18.8%	31.2%	23.2%	7.5%	28.1%	18.1%	22.1%
Operating revenues and other income	9.9%	7.1%	6.4%	20.0%	6.8%	10.3%	8.9%	7.8%	11.6%
EBITDA7
TELUS technology solutions	1,457	1,417	1,400	1,721	1,355	1,323	1,336	4,274	5,735
Digitally-led customer experiences - TELUS International	189	176	169	161	141	128	125	534	555
Consolidated	1,646	1,593	1,569	1,882	1,496	1,451	1,461	4,808	6,290
EBITDA % change on prior year
TELUS Technology Solutions	7.5%	7.1%	4.8%	40.9%	7.7%	10.5%	2.7%	6.5%	15.2%
Digitally-led customer experiences - TELUS International	35.1%	37.1%	35.1%	39.9%	6.7%	(20.8%)	15.4%	35.7%	7.3%
Consolidated	10.1%	9.8%	7.4%	40.8%	7.6%	6.8%	3.7%	9.1%	14.5%
EBITDA margin
TELUS technology solutions	36.3%	37.9%	38.4%	40.6%	37.0%	37.1%	38.3%	37.5%	38.3%
Digitally-led customer experiences - TELUS International	23.6%	22.2%	22.2%	21.4%	20.0%	19.6%	19.5%	22.6%	20.2%
Consolidated	35.2%	36.2%	36.6%	38.6%	35.2%	35.3%	36.3%	36.0%	36.4%
Capital expenditures
TELUS technology solutions	892	1,016	802	866	962	882	662	2,710	3,372
Digitally-led customer experiences - TELUS International	33	38	31	43	29	31	23	102	126
Consolidated	925	1,054	833	909	991	913	685	2,812	3,498
Capital expenditure intensity8
TELUS technology solutions	22%	27%	22%	20%	26%	25%	19%	24%	23%
Digitally-led customer experiences - TELUS International	4%	5%	4%	6%	4%	5%	4%	4%	5%
Consolidated	20%	24%	19%	19%	23%	22%	17%	21%	20%
EBITDA less capex
TELUS technology solutions	565	401	598	855	393	441	674	1,564	2,363
Digitally-led customer experiences - TELUS International	156	138	138	118	112	97	102	432	429
Consolidated	721	539	736	973	505	538	776	1,996	2,792
Adjusted EBITDA9
TELUS technology solutions	1,524	1,436	1,435	1,348	1,410	1,353	1,365	4,395	5,476
Digitally-led customer experiences - TELUS International	200	186	173	169	149	137	138	559	593
Consolidated	1,724	1,622	1,608	1,517	1,559	1,490	1,503	4,954	6,069
Adjusted EBITDA % change on prior year
TELUS Technology Solutions	8.1%	6.1%	5.1%	6.7%	7.4%	7.3%	1.8%	6.5%	5.7%
Digitally-led customer experiences - TELUS International	35.5%	35.6%	25.3%	14.6%	4.7%	36.5%	3.0%	32.2%	13.2%
Consolidated	10.7%	8.9%	7.0%	7.6%	7.1%	9.5%	1.9%	8.9%	6.4%
Adjusted EBITDA margin21
TELUS technology solutions	38.0%	38.4%	39.4%	35.2%	38.4%	37.9%	39.1%	38.6%	37.6%
Digitally-led customer experiences - TELUS International	24.9%	23.4%	22.7%	22.5%	21.1%	20.9%	21.6%	23.7%	21.6%
Consolidated	36.9%	36.9%	37.6%	34.0%	36.6%	36.2%	37.4%	37.1%	36.0%

Supplemental Investor Information (Unaudited)	TELUS Corporation
Third Quarter, 2022	Page 4

TELUS technology solutions

Operations(A)

		Quarter 3				Sept YTD
$ in millions	2022	2021		Change	% Change	2022	2021	Change	% Change
Operating revenues and other income
Mobile network revenue	1,696	1,588		108	6.8%	4,896	4,617	279	6.0%
Mobile equipment and other service revenues	545	523		22	4.2%	1,444	1,497	(53)	(3.5%)
Fixed data services(B)	1,099	1,043		56	5.4%	3,235	3,081	154	5.0%
Fixed voice services	198	208		(10)	(4.8%)	599	636	(37)	(5.8%)
Fixed equipment and other service revenue	125	101		24	23.8%	359	308	51	16.6%
Health services	225	130		95	73.1%	502	380	122	32.1%
Agriculture and consumer goods services	85	66		19	28.8%	251	186	65	34.9%
Operating revenues (arising from contracts with customers)	3,973	3,659		314	8.6%	11,286	10,705	581	5.4%
Other income	31	5		26	n.m.	85	9	76	n.m.
Total external revenue	4,004	3,664		340	9.3%	11,371	10,714	657	6.1%
Intersegment revenue	5	5		-	0.0%	13	15	(2)	(13.3%)
Total operating revenues and other income	4,009	3,669		340	9.3%	11,384	10,729	655	6.1%
Goods and services purchased	1,785	1,635		150	9.2%	4,955	4,759	196	4.1%
Employee benefits expense	767	679		88	13.0%	2,155	1,956	199	10.2%
Total operating expense(C)	2,552	2,314		238	10.3%	7,110	6,715	395	5.9%
EBITDA7	1,457	1,355		102	7.5%	4,274	4,014	260	6.5%
EBITDA margin	36.3%	37.0%		(0.7) pts.	37.5%	37.4%	0.1	pts.
Capital expenditures	892	962		(70)	(7.3%)	2,710	2,506	204	8.1%
Capital expenditure intensity8	22%	26%		(4) pts.	24%	23%	1	pt.
EBITDA less capex	565	393		172	43.8%	1,564	1,508	56	3.7%
Add: Restructuring and other costs included in total operating expense	67	55		12	n.m.	121	112	9	n.m.
Add: Other equity losses related to real estate joint ventures	-	-		-	n.m.	-	2	(2)	n.m.
Adjusted EBITDA9	1,524	1,410		114	8.1%	4,395	4,128	267	6.5%
Adjusted EBITDA margin21	38.0%	38.4%		(0.4) pts.	38.6%	38.5%	0.1	pts.

(A)May not balance due to rounding alignment to YTD figures.

(B)Excludes health services and agriculture and consumer goods services.

(C)Includes restructuring and other costs.

Supplemental Investor Information (Unaudited)	TELUS Corporation
Third Quarter, 2022	Page 5