Telus 25th Annual CIBC Eastern Institutional Investor Conference

Welcome, Gopi. Thank you, Stephanie.

For sure. Stephanie, we got to know each other- Yes through TELUS Digital.

For me, it's been 17 years at TELUS. Prior to that, classically trained CA with KPMG. The last few years, as I mentioned, as CFO at TELUS Digital. Just back into this role for the last three months. Definitely some work for Victor and myself in terms of really assessing what's core and what are good businesses that perhaps belong with others. What I can say definitively is what is core for us is our telecom business and the AI data infrastructure assets that go with it. As you follow us over the next six, 12, 18 months, it is going to be a simplification to that focus. For the other businesses, we continue our strategic review of what is core, what is not.

There's businesses in there that are performing well, there's businesses in there that are struggling, and so we're looking at each of them and saying, "How does this fit within TELUS?" We have great customers, great employees, but some of those would be better served with others.

This is a refocus of our assets, also a little bit of our culture, also a little bit of back to customer first.

For sure. A few different themes. These aren't going to be in any order. A return to a real focus on profitability.

Whenever I say that, the question is: Were you not focused on profitability before? Of course, that isn't the case. But really a ruthless focus, whether you're looking at capital or whether you're looking at where you're expanding into, where you're loading. I'll use the example of what we're doing in the east Sure where we've refined our strategy there is the economics make the most sense when we build.

There is an extraordinary opportunity of about, we believe, up to 1 million homes in Ontario and Quebec that don't have fiber to them. We look at that, and we look at the economics of that versus TPIA and what we have been investing in doing there. So again, just really refining. There is no good or bad from the past.

Yeah There is just the economics that we have now.

So a focus on profitability, I would say is one. A focus on simplification. Again, pausing all M&A. We have been Yeah very acquisitive, and some of that has been very profitable and some hasn't.

More than anything, it's added a complexity to the way we do business. The team is excited to have that level of focus and simplicity. Then some new folks around the table. We have David Fuller joining us today in the room. We have Victor, who many of you from CIBC know. So just resetting how the leadership team works together and goes forward together. Regaining our customer first crown. Again, I'd say there is a lot that we do that is good, that is customer focused, but that used to be the primary lens and getting back to that.