TELUS Digital in its agreement to be acquired by TELUS Corporation TELUS Digital in its agreement to be acquired by TELUS Corporation

On June 11, 2025, TELUS Corp., TELUS Digital’s controlling shareholder, proposed to acquire all of the shares of TELUS Digital that it did not already own. Pursuant to this, on September 2, 2025, TELUS Digital and TELUS announced that they had entered into an arrangement agreement pursuant to which TELUS Corp. will acquire all of the shares it does not already own by way of a plan of arrangement under the Business Corporations Act (British Columbia) at a price per share of US$4.50. Shareholders may elect to receive cash, shares of TELUS Corp. or a combination of cash and shares.

The price of US$4.50 per share represents a 62.6% premium over the 30-day volume-weighted unaffected average price of TELUS Digital subordinate voting shares on the NYSE prior to June 12, 2025; an increase of 32.4% from TELUS’ initial proposal of US$3.40 per share; and a 16.0% premium over the closing price of TELUS Digital subordinate voting shares on the NYSE on August 29, 2025. The transaction values TELUS Digital’s equity at US$1.3 billion and provides aggregate consideration to minority shareholders of US$539 million.

TELUS Digital offers unique experiences for customers and employees through creating future-focused digital transformations.

Osler, Hoskin & Harcourt LLP advised TELUS Digital with a team led by James Brown and including Jeremy Fraiberg, Rob Valentini, Minji Park, Min Oh and Alex McGuigan (Corporate), Patrick Marley and Sean Timlick (Tax), Lynne Lacoursière and Sabrina Jackson-Nanji (Executive Compensation), Michelle Lally (Competition), Teresa Tomchak (Litigation), Kelly O’Ferrall and Jessica Silverman (Employment), Jon Marin and Ann Zhang (Pensions and Benefits), Sam Ip (Technology) and Adam LaRoche and Erika Romanow (Privacy and Data Management).