The instructions accompanying this Letter of Transmittal and Election Form (the "Letter of Transmittal and Election Form") should be read carefully before this Letter of Transmittal and Election Form is completed. Computershare Investor Services Inc. (the "Depositary"), your broker or other financial advisor can assist you in completing this Letter of Transmittal and Election Form. Persons whose Shares (as defined herein) are held through a broker, investment dealer, bank, trust company or other intermediary should immediately contact such registered holder for assistance.

THIS LETTER OF TRANSMITTAL AND ELECTION FORM IS FOR USE ONLY IN CONJUNCTION WITH THE PLAN OF ARRANGEMENT INVOLVING LIFEWORKS INC. AND TELUS CORPORATION PURSUANT TO SECTION 182 OF THE BUSINESS CORPORATIONS ACT (ONTARIO).

THIS LETTER OF TRANSMITTAL AND ELECTION FORM MUST BE VALIDLY COMPLETED, DULY EXECUTED AND RETURNED TO THE DEPOSITARY. IT IS IMPORTANT THAT YOU VALIDLY COMPLETE, DULY EXECUTE AND RETURN THIS LETTER OF TRANSMITTAL AND ELECTION FORM ON A TIMELY BASIS IN ACCORDANCE WITH THE INSTRUCTIONS CONTAINED HEREIN. IN PARTICULAR, IF THIS LETTER OF TRANSMITTAL AND ELECTION FORM IS NOT RECEIVED BY THE DEPOSITARY BY 5:00 P.M. (TORONTO TIME) ON JULY 29, 2022 OR, IF THE MEETING (AS

DEFINED BELOW) IS ADJOURNED OR POSTPONED, THE BUSINESS DAY (AS DEFINED IN THE CIRCULAR (AS DEFINED BELOW)) WHICH IS THREE (3) BUSINESS DAYS PRECEDING THE DATE OF THE RECONVENED MEETING (THE "ELECTION DEADLINE"), YOU WILL BE DEEMED TO HAVE ELECTED TO RECEIVE THE COMBINATION CONSIDERATION (AS DEFINED BELOW).

LETTER OF TRANSMITTAL AND ELECTION FORM

FOR COMMON SHARES OF LIFEWORKS INC.

This Letter of Transmittal and Election Form is for use by registered holders ("Shareholders") of common shares ("Shares") of LifeWorks Inc. (the "Company" or "LifeWorks") in connection with the proposed plan of arrangement ("Plan of Arrangement") involving the Company and TELUS Corporation ("TELUS"), pursuant to Section 182 of the Business Corporations Act (Ontario) (the "Arrangement"), pursuant to which, and in accordance with the terms of the arrangement agreement made as of June 15, 2022, among the Company and TELUS (as it may be amended, the "Arrangement Agreement"), TELUS will acquire all of the issued and outstanding Shares. The Arrangement is being submitted for approval at the meeting of Shareholders to be held on August 4, 2022 (the "Meeting"). Shareholders are referred to the Notice of Special Meeting of Shareholders and Management Information Circular dated July 6, 2022 (the "Circular") prepared in connection with the Meeting, that accompanies this Letter of Transmittal and Election Form. The terms and conditions of the Plan of Arrangement, which is attached as Appendix "C" to the Circular, are incorporated by reference in this Letter of Transmittal and Election Form. Capitalized terms used but not defined in this Letter of Transmittal and Election Form have the meanings set out in the Circular. You are strongly encouraged to read the Circular in its entirety. A copy of the Arrangement Agreement in respect of the Arrangement and a copy of the Circular are available under the Company's profile on SEDAR at www.sedar.com.

This Letter of Transmittal and Election Form is for use by Registered Shareholders only. As all Shares are held in book-entry form in the name of CDS & Co., there is no need for any Shareholder to return this Letter of Transmittal and Election Form or deliver any Certificates.

Under the terms of the Arrangement, as more particularly described in the Circular, Shareholders can elect to receive in respect of all of such Shareholder's Shares (and for greater certainty, not a portion of such Shares), at the effective time of the Arrangement either:

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  1. $33.00 in cash (the "Cash Consideration"), or
  2. 1.0642 common shares of TELUS ("TELUS Shares") (the "Share Consideration"),

subject in each case to proration, such that the aggregate consideration to be paid to Shareholders will consist of 50% cash and 50% TELUS Shares, or

  1. 0.5321 TELUS Shares and$16.50 in cash (together, the "Combination Consideration"), for each Share transferred. Please refer to the Circular for details.

For purposes of this Letter of Transmittal and Election Form, "Consideration" means the Cash Consideration, the Share Consideration or the Combination Consideration, as set out in the Plan of Arrangement and subject to proration, rounding and fractional adjustments as set forth in Section 2.5 of the Plan of Arrangement (and as described in the Circular). See "Arrangement Mechanics - Letter of Transmittal and Election Form" and "Arrangement Mechanics - Proration" in the Circular.

If you fail to make a proper election prior to the Election Deadline, being 5:00 p.m. (Toronto time) on July 29, 2022 or, if the Meeting is adjourned or postponed, the Business Day which is three (3) Business Days preceding the date of the reconvened Meeting, or if your election was not properly made with respect to your Shares, you will be deemed to have elected to receive the Combination Consideration as to all of the Shares you hold.

The Cash Consideration and the Share Consideration are each subject to proration provisions under which a Shareholder may receive both cash and TELUS Shares in exchange for Shares, notwithstanding an election to receive either the Cash Consideration or the Share Consideration, such that the aggregate consideration paid to Shareholders will consist of 50% cash and 50% TELUS Shares.

The election available to you in respect of the Consideration you may receive under the Arrangement is an investment decision which carries tax consequences. You should consult your investment and tax advisors prior to making your election.

No fractional TELUS Shares will be issued under the Plan of Arrangement. Where the aggregate number of TELUS Shares to be issued to a Shareholder as consideration under the Plan of Arrangement would result in a fraction of a TELUS Share being issuable, then the number of TELUS Shares to be issued to such Shareholder will be rounded down to the closest whole number and such Shareholder will receive a cash payment (rounded down to the nearest whole $0.01) equal to the product of the (i) TELUS Share Price (being $31.0088) and (ii) the fractional share amount. If the aggregate cash amount a Shareholder is entitled to receive under the Arrangement would otherwise include a fraction of $0.01, then the aggregate cash amount such Shareholder will be entitled to receive will be rounded down to the nearest whole $0.01.

In order to receive the appropriate number of whole TELUS Shares and/or cash that a Shareholder is entitled to receive under the Arrangement, Shareholders are required to deposit:

  1. this Letter of Transmittal and Election Form, properly completed and duly executed;
  2. the certificate(s) or direct registration system advice(s) (collectively, "Certificate(s)") representing Shares held by them, if any, with the Depositary; and
  3. all other required documents.

Shareholders who do not make the deposit as aforementioned will not receive the Consideration to which they are otherwise entitled pursuant to the Arrangement until deposit of such materials is made. Until surrendered as contemplated by Section 4.1 of the Plan of Arrangement, each Certificate that immediately prior to the Effective Time represented Shares, will be deemed after the Effective Time to represent only the right to receive upon such surrender the Consideration which the holder is entitled to receive in lieu of

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such Certificate as contemplated by Section 4.1 of the Plan of Arrangement, less any amounts withheld pursuant to Section 4.3 of the Plan of Arrangement.

Any Certificate formerly representing Shares not duly surrendered on or before the sixth anniversary of the Effective Date will cease to represent a claim by or interest of any former holder of Shares of any kind or nature against or in the Company or TELUS. Accordingly, Shareholders who do not deliver their Share Certificate(s) and all other required documents to the Depositary on or before the date which is six (6) years after the Effective Date will lose their right to receive the Consideration for their Shares. Any payment made by the Depositary (or the Company or any of its Subsidiaries, as applicable) pursuant to the Plan of Arrangement that has not been deposited or has been returned to the Depositary (or the Company or any of its Subsidiaries, as applicable) or that otherwise remains unclaimed, in each case, on or before the sixth anniversary of the Effective Time, and any right or claim to payment thereunder that remains outstanding on the sixth anniversary of the Effective Time will cease to represent a right or claim of any kind or nature.

For you to make a valid election as to the form of Consideration that you wish to receive under the Arrangement, you must sign and return this Letter of Transmittal and Election Form and make a proper election thereunder and return it, together with the Certificate(s) representing the Shares and any additional documents that may be required, to the Depositary in accordance with the instructions contained herein, which must be received by the Depositary prior to the Election Deadline. Any Letter of Transmittal and Election Form, once deposited with the Depositary, shall be irrevocable and may not be withdrawn, unless the Arrangement is not completed and the Arrangement Agreement is terminated in accordance with its terms.

Pursuant to the Arrangement, whether or not Shareholders forward the Certificate(s) representing their Shares, upon the Effective Date, each of the Shares held by Dissenting Shareholders in respect of which Dissent Rights have been validly exercised shall be deemed to have been transferred without any further act or formality to TELUS and such Dissenting Shareholders shall cease to be the holders of such Shares and to have any rights as Shareholders other than the right to be paid fair value by TELUS for such Shares; and each of the Shares outstanding immediately prior to the Effective Time, other than Shares held by a Dissenting Shareholder who has validly exercised such holder's Dissent Rights or by TELUS, shall, without any further action by or on behalf of a holder of Shares, be deemed to be assigned and transferred by the holder thereof to TELUS in exchange for the applicable Consideration, in each case in accordance with the election or deemed election of Shareholders, and the holders of such Shares shall cease to be the holders of such Shares and to have any rights as holders of such Shares other than the right to be paid the applicable Consideration in accordance with the Plan of Arrangement.

Please note that the delivery of this Letter of Transmittal and Election Form does notconstitute a vote in favor of the Arrangement. To exercise your right to vote at the Meeting, you must attend the Meeting virtually or complete and return the form of proxy or voting instruction form that accompanied the Circular to Broadridge Investor Communications Corporation so as to arrive no later than 5:00 p.m. (Toronto time) on August 2, 2022 or, if the Meeting is adjourned or postponed, 48 hours (excluding Saturdays, Sundays and holidays) before any reconvened meeting, or be deposited with the Chair of the Meeting prior to the commencement of the Meeting or any reconvened meeting. See "General Information Concerning the Meeting and Voting" in the Circular.

Notice to Shareholders regarding U.S. Securities Laws

THE TELUS SHARES ISSUABLE IN CONNECTION WITH THE ARRANGEMENT HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES EXCHANGE COMMISSION (THE "SEC") OR ANY SECURITIES REGULATORY AUTHORITY IN ANY STATE OF THE UNITED STATES; AND NEITHER THE SEC NOR ANY SUCH STATE REGULATORY AUTHORITY HAS PASSED UPON THE ACCURACY OR ADEQUACY OF THE CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE.

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THE ISSUANCE AND DISTRIBUTION OF TELUS SHARES PURSUANT TO THE ARRANGEMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE TELUS SHARES ARE BEING ISSUED AND DISTRIBUTED IN RELIANCE ON THE EXEMPTION FROM REGISTRATION SET FORTH IN SECTION 3(A)(10) OF THE SECURITIES ACT ON THE BASIS OF THE APPROVAL OF THE COURT, WHICH WILL CONSIDER, AMONG OTHER THINGS, THE FAIRNESS OF THE ARRANGEMENT TO SHAREHOLDERS OF LIFEWORKS, AND IN RELIANCE ON SIMILAR EXEMPTIONS UNDER APPLICABLE STATE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE TELUS SHARES ISSUABLE IN CONNECTION WITH THE ARRANGEMENT WILL NOT BE SUBJECT TO RESALE RESTRICTIONS UNDER THE SECURITIES ACT, EXCEPT FOR RESTRICTIONS IMPOSED BY THE SECURITIES ACT ON THE RESALE OF TELUS SHARES BY PERSON WHO ARE, OR WITHIN 90 DAYS BEFORE THE RESALE WERE, "AFFILIATES" OF TELUS. ANY RESALE OF SUCH TELUS SHARES BY SUCH AFFILIATES MAY BE SUBJECT TO THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, ABSENT AN EXEMPTION THEREFROM, AS MORE FULLY DESCRIBED IN THE CIRCULAR.

IF YOU ARE A U.S. SHAREHOLDER (AS DEFINED BELOW), YOU MUST SIGN THIS LETTER OF TRANSMITTAL AND ELECTION FORM IN THE APPROPRIATE SPACE PROVIDED BELOW, AND COMPLETE THE ATTACHED INTERNAL REVENUE SERVICES ("IRS") FORM W-9 (SEE THE GENERAL INSTRUCTIONS TO THE ENCLOSED IRS FORM W-9 HEREIN) OR, WHERE APPLICABLE, THE APPROPRIATE IRS FORM W-8 (SEE INSTRUCTION 8).

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TO:

COMPUTERSHARE INVESTOR SERVICES INC., at the office set out herein

AND TO:

LIFEWORKS INC.

AND TO:

TELUS CORPORATION

Please read the Circular and the instructions set out below carefully before completing this Letter of Transmittal and Election Form. Delivery of this Letter of Transmittal and Election Form to an address other than the address set out on the back of this Letter of Transmittal and Election Form will not constitute a valid delivery. If Shares are registered in different names, a separate Letter of Transmittal and Election Form must be submitted for each different registered owner. See Instruction 2.

The Depositary, or your broker or other financial advisor, can assist you in completing this Letter of Transmittal and Election Form (see the back page of this document for addresses and telephone numbers). Persons whose Shares are held through a broker, dealer, bank, trust company or other nominee should immediately contact such intermediary for assistance.

In order for Shareholders whose Shares are represented by Certificate(s) to receive the elected Consideration, such Shareholders are required to deposit the Certificate(s) representing the Shares held by them with the Depositary. This Letter of Transmittal and Election Form, properly completed and duly executed, together with all other required documents, must accompany all Certificate(s) for Shares deposited for payment pursuant to the Arrangement.

In connection with the Arrangement, upon the terms and subject to the conditions set forth in the Arrangement, the undersigned hereby irrevocably deposits with the Depository for transfer upon the Arrangement becoming effective, the enclosed Certificate(s) representing Shares (the "Deposited Shares"), details of which are as follows:

Share

Name and Address in which Shares are Registered

Number of Shares

Certificate

(please fill in exactly as name(s) appear(s) on Share

Represented by Share

Number or DRS

Certificate or DRS Statement)

Certificate or DRS

Statement

Statement

Number

TOTAL:

Notes:

1. The total of the numbers filled in above must equal the total number of Shares represented by the Certificate(s) enclosed with this Letter of Transmittal and Election Form.

Some or all of my Certificates have been lost, stolen or destroyed (check box if applicable). See Instruction 6 below for the procedure to replace lost, stolen or destroyed certificates.

Election of Consideration

As described above, you can elect to receive in respect of all of your Shares (and for greater certainty, not a portion of such Shares), at the Effective Time either: (i) the Cash Consideration, (ii) Share Consideration, subject in each case to proration, or (iii) the Combination Consideration, for each Share transferred. Please indicate your election below by checking the appropriate box below. You may choose only ONE of the

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LifeWorks Inc. published this content on 11 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2022 23:53:04 UTC.