Telus closes Terrion deal with La Caisse

Mr. Darren Entwistle reports TELUS CLOSES DEAL WITH LA CAISSE, WHICH HAS ACQUIRED A 49.9% INTEREST IN CANADIAN WIRELESS TOWER INFRASTRUCTURE OPERATOR TERRION Telus Corp. has closed its previously announced transaction with La Caisse, a global investment group and Canada's second-largest pension fund, which has acquired a 49.9-per-cent equity interest in each of Terrion LP and its general partner, Terrion GP Inc., for approximately $1.26-billion. The transaction values Terrion at over $2.5-billion and will reduce Telus's net debt by $1.26-billion, or by approximately 0.17 times of Telus's current net debt-to-EBITDA (earnings before interest, taxes, depreciation and amortization) ratio, accelerating deleveraging and advancing Telus's progress toward robust and long-term sustainable growth. "Today's announcement marks a significant milestone for both Telus and Canada's telecommunications industry as a whole," said Darren Entwistle, president and chief executive officer of Telus. "Indeed, with 3,000 sites across the country and growing, Terrion is Canada's largest dedicated wireless tower operator. This unique partnership not only supports national wireless competition through wholesale access, but also unlocks significant value for Telus shareholders by strengthening our balance sheet and accelerating our deleveraging program. Moving forward, I have every confidence that CEO Eros Spadotto and our Terrion team will deliver remarkable results that elevate coverage, capacity and service for Canadians from coast to coast to coast through strategic investments in wireless broadband infrastructure that yield attractive economic returns." "With experienced teams and a portfolio of nearly 3,000 sites, Terrion is ideally positioned to accelerate its growth as the largest dedicated wireless tower operator in the country," said Emmanuel Jaclot, executive vice-president and head of infrastructure and sustainability at La Caisse. "Our goal is to expand its asset base through the construction and acquisition of new towers while welcoming additional mobile network operators as new customers to improve connectivity and service offerings for Canadians." "Terrion's objectives are clear: to foster a more efficient and collaborative wireless ecosystem that unlocks value for Canadians and Canadian operators," said Terrion CEO Eros Spadotto. "Working closely with municipalities, developers and suppliers, we are enabling smarter urban planning and accelerating wireless service delivery across communities to help catalyze the digital economy, support the deployment of world-leading technology, and offer the best possible wireless experience today and for years to come." About Telus Corp. Telus is a world-leading communications technology company operating in more than 45 countries and generating over $20-billion in annual revenue with more than 20 million customer connections through its advanced suite of broadband services for consumers, businesses and the public sector. Telus is committed to leveraging its technology to enable remarkable human outcomes. Telus is passionate about putting its customers and communities first, leading the way globally in client service excellence and social capitalism. The company's Telus Health business is enhancing more than 157 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. The company's Telus Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by its enduring "give where we live" philosophy, Telus, its team members and its retirees have contributed $1.8-billion in cash, in-kind contributions, time and programs, including 2.4 million days of service, since 2000, earning Telus the distinction of the world's most giving company. We seek Safe Harbor.