TELUS receives approval for normal course issuer bid

Executive Summary

• TELUS Corporation received TSX approval for a new Normal Course Issuer Bid (NCIB) allowing the purchase and cancellation of up to C$500 million worth of shares over the next 12 months.
• The program permits buying up to 28 million shares (≈1.81% of outstanding shares as of Dec 10, 2025) at market price, with daily TSX limits of 1,130,071 shares and possible block‑purchase exceptions.
• TELUS may also use automatic share purchase plans (ASPP) and private purchases at a discount, enhancing flexibility to return capital to shareholders.

Key Details

• Approval & Timeline: TSX approved the NCIB on Dec 15, 2025; program runs from Dec 17, 2025 to Dec 16, 2026.
• Maximum Shares/Value: Up to 28 million TELUS shares (≈1.81% of total outstanding) for a total purchase price not exceeding C$500 million.
• Outstanding Shares Basis: 1,550,956,136 shares issued and outstanding as of Dec 10, 2025.
• Daily Purchase Limit on TSX: 1,130,071 shares per day (25% of average daily volume for the six months ended Nov 30, 2025). Block‑purchase exceptions may apply.
• Purchase Mechanisms:
• Market‑price purchases via TSX, NYSE, or alternative Canadian trading systems.
• Private purchases under regulatory exemptions, generally at a discount to market price.
• Potential ASPP arrangements with brokers for purchases during internal blackout periods, subject to broker‑set parameters and TSX approval.
• Cancellation: All shares acquired under the NCIB will be cancelled, reducing total share count.
• Historical Context: TELUS has not repurchased any shares in the prior 12 months.
• Board Rationale: The Board believes purchases under the NCIB are in the best interest of shareholders and constitute an attractive investment opportunity that should enhance remaining shareholder value.

Notable Quotes

(No direct quotes were provided in the release.)